George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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I wonder what they discuss over there ! Certainly here the thread is very weird to say the least. Aeriel Arrow's aim badly wonky, luckily short lived but intended to cause worry. Then of course, the classic crew of what I call the 'Doubting Jonahs' led by the weirdest weirdo of all shareholders (so called)
friend RoJo. Every line he quotes, all the nuances he chucks in points with just one end in mind - He wants Aminex to go bust. And yet he says he wants out and away ! Others say he is wrecking things for his fellow investors trying to drive down the sp, but surely RoJo you've got us down on the revits, anyway ! And don't you dare say it isn't mostly down to you .
There is certainly a huge amount of news flow expected between now and end of year as per the excellent list provided by RJ (thats R jolly not Rojo) They will do very well to get first gas by end of year never mind October & there are some huge pivotal and transformative steps due way before then.
Do you believe everything you read Jollyboy ?
Hopefully the Company will achieve this as they say, but given the long list of delays and postponements, I won't be holding my breath.
Information provided....
"The full 3D seismic results will be available by mid-2023 and will permit a thorough revision of the gas reserve and resource potential for the field later in the year. Finally, we expect to sign a Gas Sales Agreement and obtain a Development Licence for the Ntorya Area, securing the long-term development of Ruvuma imminently."
You are welcome! :D
Well Tanz, that I think would depend on whether the 3D seismic data is good news.
Why haven't they released the data I wonder ?
Yes Crusty, it dawned on me after I posted.
Okay AA, it is as I expected - not the same ORCA.....
Pretty sure nothing to worry about Crusty except some delay. Could it be, irrespective of any funding left in the pot, if they published the 3D seismic results right now, after scrutiny, some here might take up a 'competitive' placing top up ?
Orcadian Energy plc
("Orcadian Energy", "Orcadian" or the "Company")
Determination of Licence P2320
Orcadian announces that following extensive discussions with the North Sea Transition Authority ("NSTA") that the NSTA has declined Orcadian's request to extend Phase A of Licence P2320 (the "Licence" or "P2320"). As a consequence the Licence determined (expired) on 14 May 2023. In addition, the potential disposals of interests in sub-areas of the licence to Rapid Oil (see announcement dated 11 January 2023) and Carrick Resources (see announcement dated 3 August 2022) will not now proceed.
Orcadian has been in farm-out discussions with multiple counterparties regarding the drilling of an exploration well within the former P2320 licence area. A number of those companies have agreed non-compete arrangements with Orcadian which should ensure that any reapplication for a licence over the same area, by any of those companies, would be made in partnership with Orcadian.
The P2320 licence contained the Blakeney discovery which had 2C Resources of 25 MMbbl and which represented only about 0.5% of the combined Pilot, Elke, Narwhal and Blakeney development project NPV evaluated in the Competent Person's Report (set out in the Company's Admission Document), assuming a $60/bbl oil price. The Licence also contained the Feugh, Dandy and Crinan discoveries, and the Bowhead and Carra prospects.
Orcadian intends to make an out-of-round application for a new licence covering the extensions of the Pilot field into the P2320 area, the Blakeney and Feugh discoveries, and the prospects identified using the TGS seismic data and Quantitative Interpretation products. Further updates on this will be provided in due course, but it is anticipated that this process could take up to six months.
Licence P2244 (the Pilot field) remains the Company's key asset and key focus; and the Company's interest in this licence is unaffected by the NSTA decision on Licence P2320.
As previously announced to the market, the Company needs to raise new funds in the short term for working capital and to repay the loan facility with Shell of c. £1m. However, the Company has initiated a series of cost cutting measures and is continuing positive discussions with potential investors in the Company. Further updates will be provided in due course.
Steve Brown, Orcadian's CEO, commented:
"Whilst we obviously would have preferred that NSTA had extended Phase A of P2320, we are pleased to have progressed discussions on the prospects we had identified in the area with multiple potential partners, who have been willing to agree non-compete arrangements with us. We are determined to catalyse the drilling of the prospects we have identified and to deliver on our Central Obligation to Maximise Economic Recovery from the UKCS whilst continuing to minimise the potential emissions from any future development."
AA can you give us the heads up on the Orca "news" - I have not seen anything.
Do you have a URL or similar.
Thing's looking pretty dire at Orca this morning
Wasn't Prossy touting that ?
No, I wasn't referring to TipTop (although I'm sure he made equally absurd predictions).
The 12p plonker is UWE (UnderWaterEddie)
Don't go on about TipTop Bucler, you'll upset Crusty. Lol : )
If you mean do I work on current factual information supplied from official sources rather than waffle from known negative posters, then you can call me what you like. They seem to get some sort of gratification out of it. They can try and bury facts as much as they want, but I won't tire of putting them out there. If the truth is ramping then I am a ramper. What is in the list is all planned to happen this year and it will not be wrong until told otherwise.
"Whatever happened to the silly old twit who was predicting a SP of 12p ?"
TipTop?
Are you the new Drewky?
Totally agree ICB
I’ll update the list each month (or each quarter) to keep new investors informed.
The following is expected sometime in the future:
Farmout 50% of licence to ARA - TICK 1
CH-1 Pad Location decision - TICK 2
NT2 flow test results - scheduled for end of March ( 2-wk programme.
)
Scirrocco deal complete - Deal announced August 2022 still not completed
3D results - started 3D acquisition July 2022
Gas sales agreement
FFD sign off
25 year development licence
Ch1 pad construction
Rig contracted Spud date
Drilling of 3rd appraisal well - ORIGINALLY scheduled for 2017
NT1 well workover
Pipeline completion - No Construction Contract to date.
First Gas Production from NT2 - Requires Pipeline to be constructed .
All fully funded and all due SOMETIME in the Future.
It seems to me that ARA intend to secure all outstanding approvals from the Tanzanian authorities before releasing the news we are all waiting for. Tanzania clearly wants the gas on stream quickly to feed into their pipeline giving ARA/AEX considerable leverage to say we are not committing further funds to the project until matters such as approval of the transfer from SCIR and license extensions are approved. This seems an eminently sensible approach. As soon as the Tanzanian authorities give the approvals AEX will be off to the races. The long history of delays by the Tanzanian authorities makes it eminently reasonable for ARA/AEX to insist on these approvals now.
First Gas still expected October and according to last weeks RNS the GSA and the FFD contracts are imminent.
The following expected during
Pad Location decision - TICK ONE
NT2 flow test results
Scirrocco deal complete
3D results
Gas sales agreement
FFD sign off
25 year development licence
Ch1 pad construction
Rig contracted Spud date
Drilling of 3rd appraisal well
NT1 well workover
Pipeline completion
First Gas Production from NT2
All fully funded and all due this year!
Future:
Farm Out of Nyuni License.
Newly Added with an unknown timeline
The government shows confidence in asking Aminex to Farm out rather than relinquish the Nyuni area as planned. Meanwhile neighbouring Orca continue with 3D seismic over Aminex prospect with their results due later this year helping to define Aminex position further on the license. Speculating that would put Orca in prime position for a farm in, but if significant finds are made, it may tempt ARA to come in on that license as well as Ruvuma.
Never mind the waffle, from Statler, Waldorf and fake puppet friends, all the above is from official sources."
Statler and Waldorf ride again. You guys really are pathetic, but the challenge rises as it did the other week. If you have an issue with the items on the list. argue your point. Sniping from the balcony impresses nobody.
How frustrating it must be to feel so insecure as to spend so much time attacking others!
I think your game is one of distraction. Create arguments to bury anything positive. So you keep on guys, it will give me reason to counter your negativity.
Loopy droopy !
Jolly you need to include: Farmout - TICK ONE
Then the list will look very similar to Drewky’s list from 5 years ago. He also had FOMO and didn’t want to miss out on his rewards (as the SP dropped from 4p to 0.4p)
Don't worry Seawolf, it will be updated when they happen.
First up AGM notice. Will it carry any other news? I don't know, but the uplifting news is on the way no matter how much bs the trolls and traders put out there.
I'm just happy to wait for my reward without taking the risk those guys do.
It must be quite nerve racking to have money tied up elsewhere and living in fear of missing the boat here.
I have been in this share for a long time now and it's the same old thing all talk and no action. I am sorry I have followed this chat room for quite a while and have hoped there would be some tangible progress but there has been none.