We are now producing gas at a planned 2mcfpd which at the moment is generating revenue of $500,000 per month. I believe we will get an RNS with Annual Results in June stating flow rates and sales figures.
If we are lucky additional information such as a planned increase in production will most welcome. Near enough everyone knows that we have an ELEPHANT Gas Field now called the Mtsare Khevi Gas Complex.
700bcf at the planned rate of 2mcfpd will take 900 years to extract, so who are they fooling?
Expect a big rise in the coming months as not only will gas production increase dramatically we will also begin to see oil production kicking in!!
About time things started to move quicker than snail pace here.
I'm not worried about daily movements as long as the weekly and monthly trend is upwards.
IMHO - these shares are as "cheap as chips" and I am looking to increase my holding here. I have been a holder for about 12 months and am quite happy to wait another couple of years to see the SP get above 20p - hope this does not count as a ramp!!
It's nice to see a few new fresh faces and sad to see a few old ones go. The RNS is plain and to the point. Not what everyone was expecting but nevertheless it was something that has been overdue and the fact that we are now producing gas is in itself is a milestone.
Flow rates is something that was expected but never provided. I believe we will get these within the next few months possibly end of June with Annual Results. The RNS clearly stated "planned" 2mcfpd which means the taps are being turned on and in due course we will be notified of exactly how much gas is flowing.
Once we have an idea of flow rates, we will most likely be told exactly how much this could be increased to and by what method, I.e extra pipeline, storage tanks or whatever, I'm no expert!!!
A CPR update will give allow us to book P1 reserves and maybe borrow against it, to drill further prospects.
News to come:
Flow Rates FRAC Equipment Update Gas CPR Update 4 Well Drilling Schedule Niko Re-Entry Updates on Well v18 and 32 JV or Farm Out CPR on 18 Billion Barrels of Oil
With all the above yet to be announced I think you'd have to be mad to sell right about now but each to their own.
With regards to the sp, I think people need to understand that the sp never goes in a straight line. It it climbed 40% today, then between 10-40% for a couple of weeks it would be a weird looking graph that can only suggest one thing and that is after the spike there will be a massive retrace.
It'd rather the sp made a gradual climb as and when more positive news arrives down the line which as you can see above we have plenty to come this year and the next.....
Bring it on I say, it's been a long wait and by god we are not quitting now!!!
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