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There may well be better investments available just now but only hindsight will tell us if our research and choices made were correct. I bought a few in TLW on Thursday on the basis of positive signs of negotiations around curbing production. It was a bit of a whim and they did appear to have been hit particularly hard of late so I thought they may respond well to the curbing talks. I had no idea that the next day they would announce a restructuring of finance around reserves based lending and the price went up 47%. Entirely luck, Price went from about 9p to 17p. It cold have gone the other direction if the willy wangers said they were increasing production and the poo dropped further to $10. pity that I only put £500 into that whim. Luck and hindsight. Here I have a bit more than £500 but knowing that the price moves quickly on any positive news, and that the gas will be monetised at favourable rates by the summer, the risk for me is acceptable. Current operations at wells 16, 38 and 51 may or may not be proceeding, however, they will at some point be sorted one way or another. This then leads us on to the new acquisition which should add production later this year, probably end of summer time upon completion of the some burger deal. There is then a significant potential to workover, clean up or even sidetrack existing oil producing wells to significantly improve production by year end, by which time the SP should be 2-3 x current levels at least. On that basis, I am staying in.
Good post Ezhik - (some burger deal - Ha, Ha)
Great timing on TLW Ezhik , I was also looking at TLW , but I bought a few more here last week !
Interesting perspective re BLOE , but I think you`re a bit light over your year end estimates .
Assuming this Virus recedes and there is some recovery , I think you are very light , but your TWL should do very well .
Surely news here very soon , perhaps this week .
GL.
I don't think people or the market are grasping the figures yet! From what we know up to now we have over 1 TCF to go after . If only 200bcf proves recoverable then surely we are looking at near £1 sp . If 400bcf or in the future 600bcf is recoverable we would be looking at £1.50+ ? Once we find out more about the gas and drill a few gas wells hopefully with success and a ready route to market then it will be boom time. Let's see if we get a welcome update in the morning!
"The PAT-E1 well was successfully drilled to the main target in the Lower Eocene and penetrated down to the top of Upper Cretaceous formation with well TD at 5020 m"
"The PAT-E1 well is first deep exploration well that was sucsesfully drilled Upper Cretaceous formation on Patardzeuli field which allow to complete advanced formation evaluation and testing. Best practices developed while drilling this well will be applied for future safe drilling in the region."
V111JAS take the profit in Tullow Oil , The Debt is mayor concern . They need to sell assets to keep head above water , but the hedging of oil price was a big plus for this company 57 Dollars for 2/3 of oil production this year.
Hi Thordon ! I was only looking at TLW . i never bought any , in part for exactly the reasons you mention .
Instead , I bought some more BLOE , which I consider to be exceptionally cheap on a six month view and likely to out perform most O&G small caps . My enthusiasm is enhanced by the fact that this is primarily a GAS operation which is currently being commercialised , the infrastructure is under construction , that the state is actively supporting its development and , the Country desperately needs this resource in house at a competitive price .
Best of luck .