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Can't see them being in a rush,but there is a problem,they are banking 36K $ a day just from the oil,what can they buy next,also the oil is very sort after,as it being very low sulphur,if its the same as the other wells,and why would it not be,how many companies are earning good money,with a minute market value of around 25million pounds,the way its going,they will have the market cap in the petty cash safe.lol.
Spread is slowly tightening. Hopefully the next update is very very soon. By the close of the week at the very latest. GLA
Dakad,can't see them wasting money,Patience here as the rig wouldn't have been cleared for a week,so update any time of any day,
Whys it dropped so much on little sells????
Should see further improvement in flow, when will market wake up?
Would also like to see them spend some money on an acquiring an asset or further drills
Should arrive very shortly. Hold tight. GLA
Won't need oil in the new utopia world,ultra clean electric car running on perpetual motion(the politicians and newspapers plus BBC dream)And every one eating vegetables, oil and gas phased out,and heading slowly into the next ice age, in the short term,we may need the odd drop of oil,OH the magic of the free ultra clean electrically operated cars,now back to reality, it is all but a political pipe dream,I think major priority clean up the seas,before we are all poisoned, what is wrong with the hybrid,reminds me of running before learning to walk.Britain is suffering from political idealistic work shy,what's in it for me,politicians, we still have to live for the next thirty years,Now back to this great investment,CAD a strong company making money.
Should be early next week as clean up of the well will be complete. More positive news to come.
Each meter of blaz-10 pay zone is producing roughly 2.3BPD free flow,if blaz-1 is producing from 25meters its free flow would be 57.5 BPD without pump,perhaps a pump has doubled its output,now if my crazy logic is right,it makes me think this oil field is no where near exhausted or depleted?.A strong case for more drilling.
Cadogan certainly seem bullish on the well.
From last RNS
"We are excited by the results of Blazh-10. The well produces more in natural flow than the other three existing wells on the license combined, despite the other wells having sucker rod pumps installed.
The contribution of the Blazh-10 well has taken Cadogan's current production to some 600 bpd of oil, the highest level ever in the history of the Company."
Yes hard to tell the eventual pumped plateau rate but given that this one well is producing more during clean up at natural flow than than the other 3 pumped wells combined bodes well.
Just a question from my side:
We know that well Blazh-10 flows naturally with 385bpd. Does that mean that it won´t drop down again? So, could it be that 4 weeks this well flows again at 100bpd or even less than that?
I mean from my understanding the tendency is pretty good. When they start to supportively pump that well the flow rate should further increase, shouldn´t it?
Looking at the 156meters pay zone,no real propellant, 35%API,the other wells I'm sure are producing from far smaller pay zones,the probable 25 to 35 meters,I think the output from blaz-10 will continue to improve,especially with pump,because of the 156 meters of supply,but who knows what the eventual sustained output will be,and a few more wells will be drilled to complete the infill drilling,as these additional earnings are not factored in to the SP,neither are any assets, maybe eventually the SP will rise,also these are conventional wells that go on producing for years.no flash in the pan.
We should start to see a healthy rise from tomorrow. GLA
Simples, someone wanted in big yesterday, MMs bit the bullet and ended up short to prevent spiking SP. Last 2 shakes have been used to fill the order.
Not getting mine. IMO this has Luna 2 written all over it.
DYOR and GLA
Yes showing here too, very strange, something is happening here. Sure there’s a bigger story
Buys of 500k, 750k and 250k shares, all three at ~12.75p, were reported in the ADVFN list of trades after the close this evening.
Won’t take many buys for this to rise. This is a horse ready to bolt.
jndavid
agreed, the thing is they are still cleaning the well for another 1 weeks, possibly the production may increase further.
Now CAD has meaningful production, they have investment in Proger and they have near 20m pounds to purchase another asset.
If they can pull off a producing asset it will be great.
This has a low Freefloat and i can see the price moving up further.
It will come, wont take many buys to drive this on.
Maestro,never ever seen this sort of pay zone,have so little effect on SP.
I dont think CAD expected to see 156m of NET pay in the Yamna formation, will be interesting to know what they plan to do now, whether they drill more wells in the Yamna formation, this year.
This will definately increase the reserve estimate
Exactly, microspic free float and nothing but good news IMO only means one thing.
I am taking any I can get below 13. Current average 11.75.
http://www.cadoganpetroleum.com/investor/shareholder-information/shareholders.aspx
Only 25% of share capital available for investors, 75% share capital is held tightly.
SPQR Capital Holdings SA hold 28.5%.