Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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bedex - No harm done, thanks MP.
CF73, thank you. We had a "normal" day yesterday, the shorters had crept back under their stones. Then "the cutting through the dross" comment came which unfortunately had been left in a cut and paste post and referred to the previous day.
That was a mistake and has been explained. I jumped on it thinking it was referring to yesterdays posts as well, so that was my mistake. A misunderstanding and no harm done I hope
bedex, I have no problem with banter. This BB is the amongst the best on LSE in terms of a community of invested people. sharing knowledge and good company, LTHs certainly have the right to be able to post however they want (thankfully, most LTHs here are of good nature and humour otherwise can understand how things could really drag here).
I also see the value of certain information being repeatedly presented because there are certain possibilities and even facts that could get lost.
And yes, perhaps 'dross' is an unfortunate phrase - hence, when I used it, I was trying to refer only to me.
Glad tp be invested and looking forward to the weeks and months ahead. Good luck to you and all the other genuine muckers here.
CF there is a lot of dross posted on here during the evening, it's called banter by those who have been here for years and lightens the days for those lths who have put up with endless angst over the years.
Suggest you get a copy of Coggys book.
btw this is a binary bet now, more than ever before imo, rubbish (unknown ) flow rates, no more frr. Good flows, off the planet!! So the nit pickers can post in all there eloquence but there is only one thing that matters now.
I have sold elsewhere to top up here as soon as settlement comes through in case you wonder where I stand. Happy days.
Drosser " gis a job, I can do that" :))
bedex - It has nothing to do with arrogance and everything to do with informing people who may have missed posts. This is why I posted a repeat at 22:10, as it was relevant to bugsy-b's post at 21:55. Not everyone scrolls back through previous posts. Similarly my post at 21:59 answered StarRage's post from 21:07 with an amalgamation of previous posts. As for the dross comment, it was copied from the previous post and I just forgot to delete it. Disrespectful no, argumentative yes, very. One doesn't find the truth by blindly believing, but by querying everything.
Moley
Totally agree re schlum but at the end of the day as long as it is somebody major as sahreholders we should not care that much.
PS how was the monthly friday night session?
My money is on Schlumberger. They have been quiet as to what they have been up to but they inherited producing wells and wont have been idle. They are well placed to work some of them over and get more out of them.
As I posted the other day Schlumberger had a good insight from working on our wells and doing some of the reservoir modelling. I do wonder if they carried on don't work and are one of the service providers who agreed to carry their debt.
Mick, it's been the public arrogance that has been their downfall. Their social media activity on the days in question in the RNS will become the noose that hangs them. It's all there to see and it doesn't take Sherlock to come to the conclusion that they were shorting in collusion with you know who....
Strongman on here even pointed out the open of the short and the close...how? Because he was following their Twitter feeds...oh and in SPs greed to get members lol...they didn't know who had infiltrated their membership and confidence in private meetings...
A classic case of loose lips sink ships...
I'll readily admit to posting dross LOL :D
Glad there are folks better researched than I here who are able to cut through it.
Good luck all!
Mick no shorters on view today but still "cutting through the dross"
Made a bit mad bedecked, but at least he's positive and some of his theories hold water bud...
Bedex the arrogance is from the shorters thinking that they can rinse repeat all the time but this time round zaza has had enough
Zib this guy has posted about cutting through the dross virtually every day plus dissing any poster who queries his theories by repitition.
His good observations get lost in intensity and arrogance. Imo
Beds on the meds lol...
You could be right Mad, Time as always will tell..
MP ....dross.... not at all arrogant then.
Repetition gets on my t*ts since I believe most of us can read the first post ( if we care to).
bugsy-b - The route, volume and density fits and we have enough to pay YA and running costs.
The links for my previous post.
http://www.searchanddiscovery.com/documents/2014/20273nibladze/ndx_nibladzeee
See page 8 of the above link.
http://nortonsafe.search.ask.com/search?
chn=&cmpgn=&ctype=maps&doi=&geo=&guid=&o=APN11908&p2=%5EET%5Ecd00gb%5E&page=1&prt=&q=sartichala%20georgia&trackId=&ver=&d2=sartichala%20georgia
Zoom out to see the location in relation to the road and rail link.
5,000, that’s depressing! Yep, good to see production elsewhere on the up which hopefully bodes well for us.
I've re-posted this as it was lost in the dross.
Copied from the link bugsy-b posted :-
Georgian Light type oil will be delivered as follows: 3.1.1.1. under EXW
(INCOTERMS 2010) terms, on the oil-gathering facility located on the
territory of the Primary Oil Treatment Unit of JSC "Georgian Oil and Gas
Corporation" in village Sartichala, Gardabani region (stationary object
registration number 1120057) (to be loaded in oil tank cars supplied by the
Buyer);
As the oil from T39 contains condensate, I assume it requires treatment to separate the oil from the condensate. This facility is also on the rail network en-route to Batumi :-
https://upload.wikimedia.org/wikipedia/commons/0/01/Un-georgia.png
http://nortonsafe.search.ask.com/search?chn=&cmpgn=&ctype=maps&doi=&geo=&guid=&o=APN11908&p2=%5EET%5Ecd00gb%5E&page=1&prt=&q=sartichala%20georgia&trackId=&ver=&d2=sartichala%20georgia
http://www.searchanddiscovery.com/documents/2014/20273nibladze/ndx_nibladze
Dedoplitsakaro in the above link is the nearest rail terminal, just north of Taribani (NNE).The line then runs through Sartichala (on the middle link road map, which if compared with the first link, the S5 road is near to the rail link).
bugsy-b's post :-
There was an auction of crude oil in Georgia on September 10th.. 6,000 Tonnes of crude...
Today they advertise another auction on October 1st, Also 6,000 Tonnes of crude...
6,000 Tonnes is around 42,000 Barrels of oil...
Someone has cracked the geology out there by the look of things..
http://www.gogc.ge/uploads/other/1/1379.pdf
5000t of light crude x 6 = 30,000 bbls (conversion rates are 6 to 8 depending upon the density, so I have used the lower rate). Assuming that the first train is from August and the next from September, then that equates to 1,000 bbls/d, which is the rate that Zaza said FRR would be producing by the end of the year.
30,000 x $75/bbl (the rate we were paid previously) = $2.25m each month.
https://en.wikipedia.org/wiki/Barrel_(unit)
The oil from T39 is 41.5 API, which converted to specific gravity = 0.8179. The oil up for auction is 0.810 - 0.845.
Copied from the link in bugsy-b's post :-
Georgian Light:
Density: 0.810-0.8450 gm/cm3 at 20 Co
Sulphur content: max 0.3%
Water content: max 1%
https://www.easycalculation.com/physics/classical-physics/specific-gravity-oil.php
The route fits. The 1000 bbls/d fits. The density fits. Perhaps FRR have to sell via government auction so that they have all the figures of sales. Then they will know when all recovered costs have been met and taxes are due (out of their 51% cut).
Well done Rb, your 5,000 post .. I know you were hoping to retire by your 4,000 lol
Pretty confident in that respect retire.. These auctions which I think are selling crude produced from fields near to our block, are now showing bigger yields.. Probably using the same techniques as us in almost identical reservoirs I would guess..
Thanks mate. Here’s hoping T-45, Dino-2 and T-39 are producing 500+bopd between them.
Retire, Not utterly convinced the crude is ours.. The object of the post was to show that these oil auctions, which in the past were advertised about twice a year, are now becoming more frequent, and the volumes of crude are expanding..
I think the crude being dispatched from Dedoplitskaro (our local) was Georgian heavy crude, I don't think we pump heavy crude, If memory serves me right we had small quantaties of medium crude from MK (well 35).
I'm sure Jindal have heavy crude coming from one of their wells..
RB40 could be way off the mark here but I think Mole suggested it could be BP.
Stand to be corrected though.
I very much doubt FRR is producing 1,000bopd as Zaza said he expected that by YE so to be doing that over 3 months ahead of schedule seems highly unlikely. Bugsy, do you believe that oil at auction, due to its make-up, to be from T-39 or could it be from another producer?