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Billy, you always seem confused with avatar names, i get it , i get confused as well at times , . its quite alright actually and you should have a sense of relief getting it out there .. i fink a lot get confused billy … now then… what is you want me to find out from the sites you are banned from today ?
Now now shareholder char you know if I said anything similar you would be reporting me 🤷♂️
Aww, come on, just quoting facts billy, as you wont be able to see most of the chariot stuff on other sites as you were banned so i am trying to let you know its there ….and there was me Finking we were now getting along.
I really liked the loukos drilling update. Page 6 of the presentation is particularly informative regarding the deeper reservoir prospect. We know from previous SDX announcements that the shallow reservoir in the Loukas licence has been encountered by numerous wells at an average thickness of 10.5 meters . The deeper reservoir was encountered in well lnb 1 at a thickness of 300 meters and the potential of this reservoir has not been included in published resource estimates.
The good news is that page 6 shows the reprocessed seismic as identifying the deeper reservoir with greater seismic clarity and that such deeper prospect extends to nearby prospects also. The first two wells will also test this deeper reservoir. However, resource estimates have not been published for such reservoir potential.
We can make a rough estimate knowing that 10,5 meters reservoir thickness shallow reservoirs have published prospective resources of 79 bcf, let’s assume the deeper reservoir has a net thickness of 150 meters to account for a potentially smaller area, so pro rata the deeper prospects have a potential of 1,1 tcf. Onshore, that would be transformative.
I am looking forward to a further update after the seismic reprocessing is completed and re mapped.
Jimmy
As previously quoted by yourself the bold stick to the share and not the poster there is no need for baiting.
Hi BDC, Think message has got firmly home at long last that its full focus on onshore and offshore gas. i believe AP was in US over last week in W. DC and also was told this by US IIs.. ( billy that is also freely open news on other chariot SM sites, pity your banned from them) .. hopefully not to much of any waste water is seen in our loukos wells..
Surely this lands next week?
Agree Etana was a good add-on for the renewables business, but moving forward, surely all monetary resources must now be deployed solely on developing the Moroccan gas assets to production. No more buying small desalination water plant businesses that might be useful in 5+ years - Unless of course, that same water treatment business could be deployed to treat the waste water in Loukos at a fraction of the cost charged by a contractor? would be a shrewd cost-saving move if so, although they haven't told us it will, so got to assume not.
And right on cue!!!
Hi Ian,
In the past the SP has been matched with those pesky A trades. Can't see any today.
Summat funny going on here. £30,000 sales and first day I can remember that the sp has not even moved .00001 up or down.
MMs waiting for small sellers to fizzle out before they ramp up the price imo.
👍
Let me check with SM and i will get back to you billy. ok.
I wouldn't know, are you still confident the seller is finishing today?
Perhaps he did ,seems that SM answers most things these days , does it not billy.!
Thebold perhaps Fernan seen it on social media 🤷♂️
Fernan 10, can you post links Etana energy and electrical power wheeling in ZA having zero business or value ? I agree we need to see far more overview, but from everything in the domain , electrical power wheeling in ZA is going to a major factor to assist in the acute power shortages all over the country, if that power wheeling is supplied from green power like Etana is doing,, then the premium gets even higher. Etana is one of only 3 companies in ZA to have power wheeling trading licences and i believe will have multiple green power projects up and running soon.. you seem to know far more about this though in your one line sum up which was not even IYO, It was a statement, so i would appreciate if you could extrapolate this statement that you made please with references or do you wish to add in IMO ? , if you could .. thanks.
The initial number proposed was 3 wells, which they could still manage within current budget, although I think most investors would prefer them to wait for the Energean money to come in first.
You can kinda see what AP was trying to do with regards the other two pillars, build them up a bit before spinning them off into separate entities, but with very limited capital.
"The other two wells will get drilled, but will have to wait for the Energean money to come through."
I agree with you, without Energean money it will be impossible to drill 2 additional wells (see my post on cash balance and financial runway on March 1st).
But that´s exactly my point.
Last year, they raised enough money to drill 4 onshore wells. In fact, they said that the drilling of those 4 wells was the principal reason for the share placing.
The money was diverted, and now they can only drill 2.
I think the pullback from shareholders and the loss of credibility are already happening, look at the share price.
Regards
Fernan,
Onshore wells cost $3 million each. So it's going to be $6 million for the other 2.
The other two wells will get drilled, but will have to wait for the Energean money to come through. Also, having drilled the two wells with the highest chance of success, the data collected will be valuable in determining exact locations to drill the next two.
Loukos onshore is very much happening in stages. This was confirmed yet again in yesterday's technical presentation.
However, now that we approach the pointy end of the stick regarding gas development & production, I do agree with your wider point about the smaller company transactions that were being made by AP, they are going to have to stop as they will be a hinderance to creditability as we enter a critical development phase and any aquisitions, no matter how small, will put larger investors off. 100% concentration must now be on Moroccan gas, at least for the foreseeable future. I think this message has already hit home, but as a shareholder, feel free to write to AP in order to remind him that it's not something you want to see more of. If AP buys anymore minnow companies, without specific funding coming in for those separate entities, then I think there's going to be a lot of pushback from shareholders.
We are paying US$ 1 million to a company where our CEO is invested, in order to increase our share in an energy trading license that has no substantial businesses.
This is one of the reasons the onshore drilling programme was reduced from the initial 4 wells to 2.
Regards
Yes it would be odd to RNS a short video presentation in advance of any significant drilling delay. Not fussed if its end of Q1 or start of Q2. April tends to be a decent month with lots of new ISA money looking for a home. News timed around then can be well received!
Yesterdays`s presentation was a technical overview of the operations and how they would be monitised by the company's technical director, which was given extremely well , he does not get involved with timings. . last coms with celicourt communications 2 days ago, advised drilling operations are still firmly on plan to commence before end of Q1. first results will be known after initial logging , I would say some 15 -20 days in. the only people likely who are completely fixated on actual operational timings to the exact day are traders.
Yesterdays presentation lacked key info as usual. When is the drilling expected to start, are we still on course for Q1, when do we expect to have the results. I would rather they gave us nothing than something lacking key information
@GP
The only way there’d be a ‘distressed’ seller is if they were short absolutely everything. Because basically every asset in the world, other than Chariot, has been exploding upwards these last few months.
Remember 8 months ago when JMW promised 7 wells in 18 months, starting with a 4 well onshore campaign starting end of 2023? Those were happier times. It’s the hope that kills you.