Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
So thankfully and touch wood, we are so far making progress reasonably as per latest timescales. I’m very happy with that but still cannot relax much until we see real news of actual (reasonable) flow of oil.
Plenty still for people to consider including potential stake building or even exit strategies. Myself I’m in no rush.
I’d agree my immediate short term target is about 0.25p. Much higher going fireard
Yes I think people who saw yesterdays tweet would probably think they’ve got a week and a bit to take a position (if they want one), we will begin to see a small rise next week as people begin to take those positions, leading (hopefully) to a much bigger one as the conclusion of the ‘14 day operation’ becomes imminent and the share price starts to get away from those who were too slow. Full confidence that this can be 0.20p+ with a successful side track which has (IMO) a very good chance of success, so even gamblers logic would say 0.10-0.15p prior to this isn’t bad value. I have a feeling there will be a lot jumping in last minute purely as a value bet.
At the time the photo wax taken - the big red thing you see is the BOP, so it has to be dropped into the cellar and nippled up - so just a little longer before the start running pipe 👍
Last operational RNS is pretty clear on timeline, and excitement hopefully, in May:
'Sidetrack operations are expected to commence on or around 8 May 2024. The sidetrack operation itself is expected to take approximately 14 days. Once the rig has been demobilised from the Erfelden site, production is expected to re-commence during the last week of May 2024.
A further update will be provided following completion of sidetrack operation and once a stabilised and sustained flowrate has been achieved.'
No deramping at all. It’s clear from the Tweet that they have started ‘the operation’ and clear from the photo that they have not yet spudded the drill (an impossibility on day 1). The poster suggested “ 1 day to open the well and remove the old pump, 2 days to do the side track and a further 2 days to put in production castings and reinsert the pump”. That is misleading. The operation should take approximately two weeks (from start of operations).
They didn’t spud yesterday, as you can see from the photo, they started the rig up operation
Based on the recent presentation they advised it would take 1 day to open the well and remove the old pump, 2 days to do the side track and a further 2 days to put in production castings and reinsert the pump.
We don’t know what time they started to spud yesterday but hopefully the drilling of the side track will commence at some point today and continue into Saturday before the production castings are added and the new pump installed. Hopefully we will get an update on either Monday or Tuesday to confirm the side track is complete and flow testing will commence.
This is quite a quick drill and having the weekend in between stops the share drifting whilst we wait on news.
Exciting times ahead!!!!!
I expect a fairly calm rise over the next week and possibly the start of next, then as people look for last minute positions on the Friday/Monday FOMO will kick in.
Yes Kevin, it is good to be kept informed and IMO Beacon appear to be quite good with communications.
It’s not per se however we know it’s deffo started now, the rns said on or around the 8th but the tweet just confirms it’s started and cuts out the rumours about if it started or not.
Pred a few months back announced that they were due to start the sand blasting the next working day only to rns a month later it had been delayed and hasn’t started. So whilst it’s not new news it’s good to know it’s been started.
Based on the timelines in the interview recently we may have an update on Monday saying the drilling is complete and that flow testing will begin shortly.
The market knew that drilling was due to commence on or around 8th May - so why is the new X post even "news"? The sp rise took place at the time of the recent RNS and has since slipped back. This new news (not) do very little at all,
Delayed reaction because no RNS so no one knows unless they follow twitter/lse ;p
Yes I saw but the link provided was not from the horse.
Already been posted. not moved the sp. delayed reaction maybe.
Mad
Thanks. It’s made up for things very nicely on 88E plus plenty of extra which is great. Can’t win them all of course.
My biggest holding is in PRD but out of a portfolio of 12 companies this is my second biggest holding. Shows my belief and risk appetite for this company.
Going to be a long couple of weeks here so will have to look for something to keep me busy. I can’t even report Whitenight any more as he has started to behave and become almost decent. CHAR is one of my very recent additions and hoping that might come good soon. I know some of the HEX gang don’t rate HE1 but it’s punt I’ve taken and news soon there would be nice.
Not much to add here. There is loads of reading on sidetracking on the internet that I’ve read and understand some of it. Worth a read to get you to sleep 💤
Still some risk as always and nothing certain but it’s executed all around the world and normally gets excellent results. Why else would they do it. We get that here and pump that oil at the figures suggested then multiples of the current SP are truly realistic. Definitely worth taking in my opinion.
Regards
“Sidetrack operations are expected to commence on or around 8 May 2024. The sidetrack operation itself is expected to take approximately 14 days. Once the rig has been demobilised from the Erfelden site, production is expected to re-commence during the last week of May 2024.
A further update will be provided following completion of sidetrack operation and once a stabilised and sustained flowrate has been achieved.“
Sidetrack operations doesn't necessarily mean they have started drilling therefore be careful about trying to project an end date. Photo shows the bop still on the ground so at the time of the photo they weren't drilling.
Lol...its unusual on a board,to see posters discussing exit strategies.
it doesnt go down well,on most boards
me too,i sold a few neo this morning
Sheep always great to see people making a nice return, well done. I took my profit out of SOLG yesterday and entered this at 7, which I'm happy enough with. Going to ride it all the way to final results. If its as good as they think it is should be looking at 700-900 with the new pump. Fingers crossed!
Sheep, well done on Hex, I'm averaging.058 here but holding rather less than you I suspect. ATB .
GLA
At 08.07 this morning I posted on HEX that I was out for now apart from some play money. Think I might have timed that rather nicely. Superb return.
I hope to have done the same here. Averaged down to just above 0.07 and holding a very decent chunk.
Will take some profits on the way and then will decide if this could be as explosive as the figures suggest.
Good luck all and thanks to all the decent members and contributions of this generally excellent BB.
Tick tock.
All good - Exciting times!!
Mad that’s great news.
Thanks for watching out for the update on X.
Some decent folk here and one or two not so.
The countdown begins 😀
Https://twitter.com/VWT25H2O_Ozzy/status/1788213644716577044?t=QhV4qINgork9ibqDaFAq_A&s=19