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In 30 years they'll be cursing us for burning the stuff because of it's value as a raw material in the petrochemical Industry.
In any case, battery technology is still rubbish and probably always will be and there's insufficient progress in fuel cell technology to warrant installing Hydrogen outlet infrastructure.
You could always burn Hydrogen directly in an internal combustion engine but I don't see that as a viable alternative either.
True. But more to the point,who was it who said the so called overhang would be integrated by lunchtime.
That was over a week ago.
Very frustrating when MMs can have the ability to manipulate supply and demand to this extent.
Who cares, as long as it’s around for 6 to 12 months, that will do me!
Oil will not be the source of power in 30 years!!!!!!!!!! Its got 15 years max left in it. Shell, BP and all other major oilers want green energy and different source of power. The west want to flatten the middle east, and they want to diverse an economy away from just oil. Qatar, Saudi, UAE all need to act quickly now or risk being very exposed in 20 years.
I too expect to see new money coming in tomorrow or Tuesday, even the short term traders are probably thinking that we can double our money in a couple of weeks.
IMO, all the over hang is gone, I actually think it went Friday morning, only the MM’s and their games kept a lid on this (WINS in particular). Tomorrow should see buying to continue from Friday, I think a close of 0.35p is minimum and testing the 0.40’s come Wednesday, this time next week after positive news we could be at the big resistance of 0.73p or beyond.
Just reading through all the posts from the weekend, some great stuff here all.
I see and understand the comments on the buyout but I would always expect a jv partner to have the right of first refusal should that situation ever come up.
First let’s get this going and have a sustainable cash flow that will allow other projects to be started and to become self sufficient.
Fully expect a small gradual rise this week until news hits, which I expect to be Wednesday or Thursday. Similar to the cancellation of the previous financing arrangement, when news hit we actually finished down for the day, 0.115 if I remember rightly, the next day we were attacking 0.2, the news on Friday will be digested this weekend and we should see a number of people coming to the table tomorrow trying to get in before the next big rise.
Just feel when the cloud is shifted and that drill hits the bottom of the ocean bed, then we are in a different league.
These 10% to 20% rises are big but when we are post 2p, they will be a lot bigger in terms of our money.
That is impressive! I guess we'll soon know whether Art got a sniff of a good one he thought he could win. This may have triggered that Second Placing which went down like a lead balloon at the time. We shall see.
Link would help!
https://nairametrics.com/2020/07/08/over-600-companies-bid-for-57-marginal-oilfields-dpr/
The region is getting unbelievable attention from companies Bob, over 600 companies bidding. so we know there is interest there, we know there is oil there.
When we get the paperwork sorted and start drilling, what then?
My thinking is, if I was a major, why not skip the middle man (bidding, research, testing etc), and let’s get a company that is already pumping oil, KERCHING!!!!!
Yes Shaa I should imagine interest in the first drill will be intense. Big Boys especially!!!!
Interesting MrNation, talk of the town in Africa.
Agree, get the bureaucracy out of the way, then we will get a lot more publicity and big players will take note.
I doubt if Art would sell for 10p!
Jay,
That's what I originally thought, but being conservative used only $10 / barrel profit.
In that case we can Double the future potential profit estimates. With Brent currently around $43....and expected to rise further, we can revise those estimate further upwards.
We can only use estimates at this stage, but gives an idea of how undervalued this currently is.
Personally I think one of the Bigger oil companies nearby would probably just Buy out COPL once production starts and market realises the massive potential of OPL226.
In addition to 6000 zone, other deeper 7200 and 8000 pay zones hold potentially over +5 Billion barrels. MCAP here should adjust significantly higher accordingly as key milestones and drill targets are hit.
News in about 5 days....
After all the shenanigans over the past years Shaa I think that’s best left alone and be happy we’ve got a good 15 percent holding to look forward to with minimal ongoing investment and outlay.Its a winner.!
On these estimates, does anybody think ART may be able to squeeze a little extra out of Essar in terms of percentage wise to COPL on OPL 226?
60,000 Bopd - with full field development as per Company estimates.
9,000 Bopd - to COPL after buying extra 10% interest from production revenues.
At only $10 profit per barrel, would generate about +$33m profit per year for COPL. Over next 30 years that would be about +$1.0 Billion in potentual profits.
Hence massive upside here for ALL parties to fast track things at OPL226.