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Can’t knock her for trying, though, she
was Exonn erated for Mobil ising hoses, as
DM’s always looking to minimise expenditure:)
Time for teddy, take care bach
ITV - Latte, dear friend, hope’s all’s well,
still got that gut feeling, we’ll see:)
Void. "When was it taken.."
Just before she got nabbed for pinching hoses
@DD that actually made me laugh. Thanks : )
When was this picture taken?
If it’s our rig, with bright new shiny
hoses being fitted, let’s hope, it was
some time ago and in situ already:)
You’ve got to be positive, probably
moved under the cover of darkness,
as DM’s giving away nothing, he’s
as cunning as Boldrick, mmmmmm:)
Provided link, to alleviate the pits
of despair, one seems to be in at times,
to all, still awaiting drilling news, enjoy:)
ITV - to all, posting or not, it gonna
happen, IMO, sooner, than some
others, may think; says he ilium:)
@Jwill I'm broken mate. Ruth, she's gone..
@DD you can be worn out without wanting to sell. It’s natural in this situation.
And fyi Jonah kills the Mel in the final episode. Enjoy the beer!
Void, at a yard in East Africa, look at those new parts, shiny hoses and connectors
Very informative post, as usual, however,
please factor in, that the rainy season, ain’t
gonna happen; it’s long-been predicted,
it will remain dry, til at least 2025.
Not having a go at you dear friend:)
Though posted before, yet, so many ignore:(
NB: So many posts taken down, I do
not frown, don’t like you clowns:)
ITV - follow the flock, not me…..tic tok, that’s me
@AP if you are "worn our from worrying" I suspect you're over exposed, better to sell down and sleep well. Obviously that's your choice.
I'm a little impatient but that's because I'm bored , not worried much. But maybe that's because I'm less well informed or maybe my exposure to the stock is manageable.
Given the comments of Hex, Dai and Skittish.. it's we fair to say not "all" are worried and some not concerned in the least.
Anyway time for a beer and watch the final episodes of Ozarks
I dont believe the macro market news is influencing any decision to release the drill plans. They have tenders out for all sorts of equipment that depend on the rig. As soon as that rig is ready and signed then they will want to get on asap to get the rest of the program to go smoothly.
Thats a big IF confirming the rig is good and tbe
@AP I've been corrected on that statement. DM apparently said " I expect " not " I will".
I really do not believe there is an issue with availability of rig. News would be good but a pointless exercise when Macro news is against us.
Anyway you can read the various posts from Skittish and Dai for yourself.
I haven't bothered to check the details. Seems reasonable to me.
Tomorrow is the last day of Q2, exactly 3 months later than the promised when, where, why and who with by the end of Q1.
I hope they have an announcement to make tomorrow or Friday.. the start of Q3.
We are all worn our from worrying and waiting to see if anything at happens this year at all.
@Skittish, appreciate the insight ( I have very limited knowledge on the drilling matters). I still believe the management team have sufficient skills and ability to secure the rig (would be very surprised and shocked if we hear otherwise). I also support the delay in announcements given the macro situation (I think I have some knowledge in that area). So upto 6 weeks for an RNS on the rig (but for something else, maybe sooner).
Regarding wider funding opportunities, this may be of interest.
Im counting on rig news before mid July with mobilization almost immediately
I'd love them to redrill Tai-1 and a shallow drill in the new lakebed closure. 1.5 drills in effect.
I don't know what DM's timetable is but I remain quite relaxed about matters.
If one was to work backwards from the rainy season start in mid December, you could work out a timeline based on needing to finish drilling at that time, and a possible timeline of what DM & Co are up to.
Mid December - must be all packed up and gone from drilling site.
Say it takes two weeks to pack up - then must start to be packed up by end November. Add in a couple of weeks for contingency, that gives start of packing up mid November.
Drilling and testing - someone said could all be done in 4 weeks, and 4 weeks per drill appeared to be their timetable in 2021, so assume that is the case here, and we have spud in mid October, with a two week contingency built in. But without the contingency, if everything was taken to the wire we could spud as late as end October, and still be packed up before the rains.
So that then gives a spud date of either mid October, with two weeks contingency or end October with no contingency.
Suppose we add in another two weeks contingency for a slow drill (Tai-1/1A took two months), then that gives you a spud date of end September - which coincidentally is DM's most recent target date.
Of course I'm assuming here that there will only be one well drilled, Tai-3, and I've gone into further detail on why that would be in previous posts.
So now we've got end September with 2 + 2 weeks contingency built in.
Drilling in 2021 commenced on 14th June, after rig mobilization was announced on 29th April, following funding on 16th April. That was pretty fast work, just over 6 weeks, the rig and other equipment was in Tanzania/Mozambique. Whichever rig is being inspected now is in "East Africa" - I know some have speculated where it might be, but it may be near, it may be far, so lets say 6 to 8 weeks for mobilization and getting it to Rukwa.
So 6 weeks would give you mobilization mid August, 8 weeks would give you mobilization beginning of August. If everything was pared down to the wire (risky, I know) you could mobilize as late as mid September and still get the job done, but there would be no contingency for unforeseen evens, as (repeatedly) happened in 2021.
So with a one well programme, Tai-3, you could mobilize at the beginning of August, have 8 weeks to get the equipment to site instead of 6 in 2021, 2 weeks contingency during the drill, and a further 2 weeks contingency at the end for unforeseen events. A 6 weeks mobilization, as in 2021, and you don't need to start moving until mid August.
So my likely rig contract news would be around a week prior to that, so that gives the last week in July, or around 10th August, if they intend to move the rig a bit faster.
I don't know when the RNS will come - it could be tomorrow - but I'm not expecting news until the end of next month, and that still leaves plenty of time to drill Tai-3 in 2022.
IMHO,DYOR etc, etc...
DD13, remember "the expect" ?
DD13, I like your reasoning but its just they have'nt secured a rig yet..
like Ian said if we can get a rig...
But if the Predator is our rig, its often used as Top Holing Rig, 400-500m in a single day, I assume that covers the water well rig, but then there is crewing.. But if that is the case and there is shallow drilling, thats just luck..
nice article of a company drilling one day moving the next..
O’Ryan is on its 12th surface well and has decreased drilling time from 20 to 13 hours
since its first hole. O’Ryan operates around the clock with two 12-hour shifts. “We aver
-age one day over a hole, moving every other day,”
ok DD well whatever your mad TA ramblings are telling you, at least you think HE1 is going up soon I guess.
Once bitten and that I’m sick of bubbles and squeak I want good mud I do lol
haha i bet you haven't muscles - although I actually had the sense to ride the wave pre-drill last time & not leave all my chips on the table before the non-discovery update for 2021.
I guess if you are still invested you do have some lot of sense as you'll be able to exist when the pre-drill news is announced this time around.
DM said in Feb Working on completion of MOU
DM said in March. The other companies sharing mobilization costs postponed
Na don't buy it. His what where and when statement by the end of March was a rash statement from the inexperienced "public" CEO OR one who was wrong footed by an unforeseen War. Although plenty of latitude if given to AIM and ASX businesses. I don't believe the story about sorting a rig/parts etc. Too late in the day, they have had plenty of time to sort it. Your explanations for not having things sorted actually does not give them enough credit.
Anyway, when the SP crosses the 200MA it will be in confirmed uptrend and I'll buy much more. That's pretty close and I've been adding a light touch as if fell through 8.40 ish support. I'm no TA but learning fast. Few doubts about my returns on this in time, nice base formed with catalysts on the way.
End users helly boy I was there when he said that shocking mistake
I bet you I’ve been invested here longer than you chap you got a crystal ball or something lol your mums mystic Meg isn’t she no you’ve got Jedi powers he he he
sorry for boring you Muscles11 - you might find following a company you're actually invested in of more interest.
DD - being Welsh might actually explain everything...
1. Until DM has fleshed out the full detail of the plan (including rig type / costs / start date / location etc) he doesn't want to unnecessarily update the market in bit-parts. If I were in charge, I'd behave the same - not a fan of a CEO who panders to shareholders' whims & fickle needs - get on with developing / finalising the plan.
2. Q3 is a three month period starting from 01 July-22 & ending on 30 Sep-22. He doesn't have to announce anything in Q2 if he doesn't want to - also, who know when in Q3 this is happening - if it's towards the back end he has more time before any announcement is needed.
3. DM is on record stating that a Q3 campaign is happening. I suggest you get off his back, show a little more patience / little less nerves & wait for the impending update.