Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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Hi Peter, whoever sent the email though was working late for a Friday, so fair play to them for putting in the effort.
Your welcome Bamps21,.....well, that update, was good enough, to have me increasing my exposure, to CERP, at this stage of the drill,...as I said to Chesh, "may increase further, here at CERP" (before next update).
BW
Killer spread on the SP. guess they don’t want you to buy at the moment lol
Yea, still took another tranche though, faz7475 (straight into ISA a/c).
BW
I hope this super rise can wait another two weeks.. don’t want it to rise just yet.. got some substantial amount of money coming in end of the month. Would like it to hold at 2.8p for a bit lol
March should be the month we start to see results.
I'll take any earlier news though.
Leo Koot, Executive Chairman of Columbus, commented:
"The Company is very pleased to have successfully completed the drilling of the Saffron well. Our drilling team has done a fantastic job in reaching target depth in a very complex geological area. I am excited that we have encountered multiple sand packages and multiple oil shows to TD, as we had hoped, including in the Lower Cruse which was our primary target. I believe this confirms the potential of the South West Peninsula. The Company has gained an enormous amount of knowledge about how to successfully drill wells in the South West Peninsula and we look forward to seeing the interpreted logging data and completing and testing the Saffron well in Q1 2020. In our view, the economics for the South West Peninsula are very robust and depending on the test results from Saffron, we look forward to further appraisal drilling as is appropriate."
How long before we get the results from these samples, I would have thought that labs would have been testing during the drill.
In my understanding, Q1 is up to March. So we should here news by then.
There not samples like in mining where they go to a lab
The data they have is being examined and the relevant information will determine where the tests will be carried out down hole. A blast string will be inserted and holes made in the casings. Then the testing can start.
The experts will be looking for hydrocarbon concentrations and the porosity amongst other things
It's a complicated science.
Sounds complicated, Least the SP is looking upwards today with it been oversold
It's time consuming getting it right, they may leave some net oil pay for a later date and concentrate on the best target. They will let it flow on it's own initially and maybe shut it down to see how long the pressure build up takes to get back to its original level.
This may take time to get it right don't expect a short time frame.
On a big pay well I've known 1 billion cu ft of gas burnt off on test and 9 months to get the pressure back.
I'm not suggesting that will happen here but the original plans were to get Saffron on stream mid year
ATB:))
4p end of week come on !!!!!!
You been seeing that 4p DMA for small teaser popping up on the auctions willec.........?
All the best (on the other side 30K shares for 2.80p, and with competition for Cantors on the Ask :)
Agreed Dean.............!
the race is on mind............ :)
CO2, Saffron, or faz's funds........... :()
All the best (there'll be more, but I is tired :)
hy else is it appearing at every auction? MMs are cleaning up below for the next push forward and then up towards double figures very soon.
“Whilst drilling, the Company encountered expectedly high formation pressures and undertook careful measures to ensure the wellbore remained stable. This involved increasing the weight of the drilling fluids within the Upper and Middle Cruse sections as well as spending extended periods of time maintaining the wellbore“
We encountered oil at all three targets, combined with high formation pressures feels like a good combination to me. Just maybe they found the gorilla and kept him in his cage with careful engineering. ??
Sounds like a sleeping monster about to tranform the company to me
If only!
ptrotter - I wish 'I keeping hoping'
Double figures, I like the sound of that, willec.
BW