OGIF deal one of the best, prior to the drilling of the Re-rating TE-8 outpost well. If all goes well the SP will climb so guys I wouldn't worry. Everything is lining up pretty nicely. Over the 56 day EWT to test production sustainability and to aid comprehensive field development planning was successful. We achieved an average of 28mmscf etc which is highly above a commercial 3mmscf. I think the constant average of 28mmscf over a 56 day period was due to the re-charge rate on a constant flowing flare using up 1bcf from 1 well in 56 days. However i believe and stand to be corrected if the flare is turned off for a short period where the well has a chance to re-charge and if it is in line with expectations should be above 40mmscf with a 50% drawdown. Chill guys let's see what happens in the remaining 14 days.
I believe we will get a liquidity event within the next 2 years but with OGIF on board now and their financial backing we may now be in a better position to keep a piece of the Pie in Tendrara for ourselves to take to the market.
Rather than everyone giving their interpretations on things and loads of posts with questions or each individually emailing JP, why don't we all agree on a set a questions and send them collectively so JP could clarify?
Agreed PNE. Not great for those hoping to sell/trade on a spike but all good for LTH's in until the liquidity event including me. There won't be a cheap trade sale now. It's all geared to recognise the needs and shareholders of the country that we are operating in and they will want a major and a ROI. Seems to me that this long negotiated structural change in company ownership/ shareholding will not have been done just in case Tendrara comes good at some distant future point. Seems to me it's intended to set things up and put it on a plate for that next step to take place asap i.e. the liquidity event. I personally believe that it is very likely that these discussions are well advanced and have directly led to the restructuring announced yesterday . Teed up very nicely now! Well done JP & team. GLA.
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