Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Thought for the weekend STZ would make an onion cry
£5k invested and you both went to the Gherkin acting like high rollers haha
You have a situation now with this share where folks are buying over 300,000 shares for 5k. I used to have 52,000 shares for my 5k and thought I was on to a winner. There are investors on here who sold their houses or invested their pension pots to get hold of 300,000 shares a couple of years ago. That should be the warning sign of all warning signs imo. If those investors who bought in a couple of years ago knew that their life savings would be worth 5k two years later, then what would they have said at the time. It was not as if they were not all warned. It still baffles me to the day that many of these punters are still throwing money at this which is like throwing fire at fire. One thing I would never ever do is bet my pension pot and bricks and mortar on smoke and mirrors. Hope you have an enjoyable weekend everybody, especially PNE and Lyndon. I see that the SP has been battered again today. All that talk of batter is making my mouth water. JTF is on his way to pick up his repaired Chuckle Wagon as I type.
I am under the impression te8 was a large step out from the Horst, not sure if it was covered under 3d. Any how, show me any drilling company who has 100% success rate? At best you are looking at 35% even in Algeria they only get 1 in 3 as commercial.
No need to think. One producing well drilled horizontally. 3D seismic limited. And if we did have the money and were competent the third well would have gone to within the 3D seismic zone.
As yet, no third drill, even within that what define as a safe zone. No new operator to drill within that zone. And didn’t TE-8 drill within 3D seismic zone and was a duster.
Think you will find its 3 wells, successful well test, 3d seismic and down hole pressure gauges to back up the science.
Who wants to spend millions of quid based on one well? Examine the risk! People, wake up! Just doesn’t happen these days. Please, show me an example?
Ok, let’s simplify this then.
You only build the pipeline once so you might want to make sure that you size it correctly before throwing money at it.
Thats why transparency is needed here. The moment it is back, things can change a lot. Mohammed needs to help ONEE decide through flexible offers.
downsize pipe to 12 inch, then if further discoveries are made put another 12 inch on top....24" then lol!!
whatever the girth, just want some fooking action!!!
Should read “get to first gas asap”
Back when SOU was riding a wave of optimism following successful drilling at TE5, 6 and 7, institutions were only too keen to fund the pipeline in expectation that other discoveries would surely follow. Following the spate of failed drills post TE7, anyone still thinking about providing the funding must now be reconsidering whether the Horst is as good as it’s going to get and whether the upsizing of the pipeline from 12 to 20” is worth the added expense. Cue, delays in GSA and BOOT.
Paradoxically, this uncertainty points to a need to accelerate the search for new gas. The LNG strategy most certainly buys additional time. Time to go after those drill ready prospects that we’ve been told about so many times. Should some of those come in, then it makes the 20” pipeline more likely to go ahead. However, if no extra gas is discovered, then we must face the prospect that the pipeline reverts back to 12”.
However, lets remind ourselves that other junior players in Morocco jump hoops every time they discover another 1BCF. Heck, we used that much gas in 56 days of flaring at the Horst. We are not lacking economic gas volumes nor options to market...the discovery we have is very significant.
We are given strong hints in the RNS that the revised strategy has a two stage approach. I.e. get to first asap and then push on from there when we have more certainty on how much new gas is available, if any. But we do need a deal, we need the right partners and we need to crack on with some drilling. No small risk of course, but at least we are eventually doing all the things that we should have been doing two years ago.