Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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DG
I am not sure that JB is actually saying what you think he is.
happy but not satisfied says to me he recognises that this is still work to do, while acknowledging the huge achievements in the last year.
I am not sure he has ever said that central Australia is the ultimate goal. That might be your goal, but the strategic objective does not say that.
Clearly at one point they thought Falcon was far better than it actually turned out to be. IMO it was wise not to drill further wells there, especially given what has happened lately. Seems you think that is a negative, I think it was a correct decision.
AS for Cinnabar he clearly states in the latest Pro Active interview that they are very enthused, but the proof is in the drilling. Sounds a fair statement to me.
so good to see you now are a supporter
John W Barr, Mosman's chairman, explains that while happy with the strong rise in net output last year, he is still 'not satisfied' with the progress.
The above statement summarises my sentiment towards Mosman from the horses mouth. First time openly admitted in an interview that things could be better.. While I understand challenges are sometimes unforseen but the overall path to corporate profitability should by now have been achieved.. Being profitable in the US allows further work in Australia.. The ultimate goal for the company. At £3 Millon mcap market is not even considering US Stanley project let alone other projects.. And £0 for Aus potential. The proof is in the pudding... Cinnibar is deeper as well and we own a good chunk of it as well. Similar hype was given for Falcon and the subsequent proactive news meeting talking about subsequent drills etc this time let's wait to hear it first.. As ever it is exciting we should be 0.49 as of jan last year 2 placing later even at 0.3 would be awesome but for now let's get out of our lowest lows.
thanks
Not quite sure how to share it sorry. If you are a bit more clued up on the technical side would definitely be good to share it on here. If you go onto Youtube and search for Mosman oil and gas it should be the 3rd 1 on there titled happy but not satisfied with Falcon. He gives lots of positives on Cinnabar but concerns on Falcon.
I will find the link shortly. Give me a few mins. Very slow this time in the morning :)
Yes I agree.
Falcon has been a difficult well from the start with oil not working and now some months later the gas has stopped.
only time will tell.
where did you see the interview?
In fairness Fordfaliane, whilst not on RNS, I did find the answer to Falcon I was looking for on albeit not 1 I was hoping for. Mosman did a new interview on Proactive Investor on Wednesday, which explains the renewed interest in purchases yesterday most likely. Whilst they aren't sure on the problems at Falcon then any attempts to resolve are put on hold due to the work on Cinnabar and only having a small team.
Should Cinnabar be successful then at least it would give a massive uplift to the share value with the potential prospect of another 3 or 4 on the same sight. For me personally, after Cinnabar whichever way it goes, and the signs are encouraging, then I would like for Falcon to be addressed. If it can be fixed it would be faster and significantly cheaper than a new well and would put us at the point where we can start to grow organically. Maybe the company is of the same opinion, time will tell.
It is a shame about Falcon, I wonder if they know why as yet?
on the other side of the coin, the BOD should be praised for getting Winters producing good gas, and also doing all the work on Cinnabar that has led to the drill shortly.
There is no need to be constantly abusive and negative. That achieves nothing.
Could be a leak or just a pump and dump. Mostly likely the latter. They will be gone soon.
Fordfaliane, you are right. For that I apologise. From that RNS I did miss that 1 small but crucial detail. I was so frustrated with that RNS I think that we gave away an another 10% of the gross for such a small sum. Further frustration comes from the fact that we need this to go well to counteract the impact of our main producer, Falcon. Details on any problems there were late in being reported and still no concrete plan, if any, on restoring it to production. In the short term if Cinnabar is successful then Falcon will be the money maker. Then we can look at the Australian assets, after all that's what many of us are here for.
This was said in the very recent RNS.
Development (Cinnabar Well 75% Working Interest)
• New Joint Venture partner secured reducing Mosman’s share of costs.
• Drilling contract signed and well casing secured.
• Pre-drill requirements underway with work scheduled to be completed by end of August.
• Spud date is now scheduled to be late August.
• Potential oil and gas sales contracts are under negotiation.
• Production estimates remain at 120 boepd gross.
• Pre-drill costs of circa USD 0.2 million approved and cash call paid.
• Drill costs remain estimated at circa USD 1 million. Circa 70% of the costs are now locked
in with the signing of the fixed price drilling contract.
• Completion costs remain estimated at USD 0.6 million.
Perhaps you missed that. There is nothing to criticise here
Those trades are people starting to take positions ready for the Cinnabar drill. The company announced yesterday on twitter that the rig is booked and everything in place for the end of this month. We originally expected September. Had the information been sent in a conventional RNS I suspect the rise would have been more significant, just my opinion. This is important company information and twitter is not the outlet to send it.
Yes. That's too many for top ups etc.
Someone has got some info. To be buying at an 18% spreed. That’s for sure. This can’t be just averaging down
Would not have a clue ! Possibly traded at lows oil steady 90s and cinnabar coming on stream within 2 months fingers crossed ! Gas high in US and fundamentals don’t seem to be heading for funds raise! In my opinion . Easy 30 % if you have available funds in my opinion , but share price has never made sense here .
Can anyone hazard a guess to the multiple buys this morning?