GreenRoc Accelerates their World Class Project to Production as Early as 2028. Watch the full video here.
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The video was published exactly a month ago and it only had 319 views so far!!
They should review their PR strategy!
Unicorn on the AIM market... would love to see that as I too am now an investor here as of yesterday. Let's see how the story unfolds. Good luck everyone.
Yes ...they are certainly taking their time ... 5 + weeks ... perhaps they aredraining the well first and then telling us ...how many million barrels of oil they have in storage ...or sold...
Just been reading the news release again from 11th Feb.
I wonder if they will release the flow rates of both wells together?
“Once completed, the Operator will then move the test equipment to the TO-13 well pad, which is already being prepared for testing, and will conduct flow testing on the TO-13 well.
With testing underway, the Company now expects to receive initial flow tests results for TO-14 over the next several weeks and will update the markets on the results of the test programme in due course”
Nige. Wouldnt it be more strategic to do 2 announcements. The first announcement would likely cause an increase then stabilising back down again and then second announcement would just build on top of that to stabalise it even more. AK and gang no doubt can see shareholders getting rattled since i assume they monitior this bulletin board and Telegram etc so im sure they would want to see it substantially higher than the 0.8p focus but we now sadly see it even lower than that despite hitting the 1p plus figure a short time ago. Im really hoping they will announce the flow tests b4 the end of 1st quarter!!!. 11 days time.
Hi SJ,
It was just musings really, I hope they do 2 announcements.
The wording was vague in regards to the timelines, several weeks can be anything really.
Maybe they worded it that way as the time lines were unknown due to the dodgy weather in Feb?
We should get some kind of update soon?
Thanks Nige
Sienna,
The way I see it at the moment, the lower the launch pad the further it'll launch. We're not valued at much higher than BCE right now and they flowed at around 40bopd! So market not pricing much in here at present at circa £15m cap. If the recent presentation is anything to go by this is due a dramatic re-rate long before year end. I'm fully loaded and ready to go. Any time you're ready Sonangol. :)
Regards,
Ed.
Nige,
The presentation I take as the current info as it was released since that testing RNS came out. I'm taking my timing from that. That puts us at late Q1 for TO-14 testing and very early Q2 for TO-13 testing to complete.
Regards,
Ed.
Hi Ed,
Hope you are okay, thank you.
A bit of doom and gloom seems to have set in on the boards recently, although it has been a bit of a wait.
You are right about the presentation, it states news anytime now so hopefully not long to wait :-)
Hopefully when both flow tests are done, they can crack on with the resource update and we can start to build some value.
Thanks Nige
Hi Nige,
Yeah likely some twitchy fingers from some. Yup given the presentation details we're still on course for news very soon from both wells. Then CPR, seismic, Tobias appraisal etc etc still all to come this year. CPR will make for interesting reading as will forward plan for Tobias.
Regards,
Ed.
Ed.
Fully loaded too and ready to go!
Yes agreed Ed.
I am relaxed here and also fully-loaded awaiting the excitement to come. As someone said the other day, you wouldnt check the value of your house on a daily basis ! ha how true 😊
Although, I am in here for the value of a nice detached house so tend to break that advice often ! Wont be long now Cheers and gla !
Luke ... whoever you are ... your some man ...you must have 10% of the company and expect a rise of 10000000000 %
GLA the waiting is frustrating ... to say the least ...but AK must know at this stage ... tomorrow maybe ...
Ha Rock ! No been here 13 years , unlucky for some ! Bought in at the top , held around 3% before the previous management diluted my holding to oblivion !
Thank the Lord all now looks to be a totally different Company with a totally new Board of Directors and stunning prospects and any day now Rodney !! 😀👍
Luke,
Good man, fingers crossed. This one sure has the potential to make folks a lot of money for sure given the contents of that presentation and our low starting point. I do check in every day too even though I'm planning on staying for at least FFD of Tobias and Galinda. That would likely cover at least the next acquisition too. When we're awaiting a potentially game changing RNS its only natural folks will check in at least several times a day.
Regards,
Ed.
Ed
I tempted to do a cheeky top up. The only thing holding me back is that as the reservoir has been tapped earlier the gas drive might not be as good as when the initial production started and this the new flowrates would be less excellent. Hopefully we still have efficient waterdrive, and who knows if new oil has replenished the reservoir, as management think, this oil might still be a bit gassey. Anyway the long term drive will always be the water I understand. Submersible pumps might also be an option later?
Any thoughts?
Morning Ed,
Great post to start the day.
The presentation sure is an exciting read, it would be fantastic and life changing for people on here if they can pull it off.
I wanted to ask you briefly about TO-13, not much has been said about this lately but hopefully we will hear results on this in April.
Is this well expected to be a good producer or the TO-14 lead the way?
Thanks Nige
2.6M buys ...would have expected the bid to move up ...
tnm,
that's understandable, i've been tempted to add more at this level too. we'll just have to find out what is causing that pressure down there and the return to original pressure. there is a possibility that the solution gas has recharged too as well as the oil. could there also be water drive, no water was logged in the wells so the water is currently a mystery. even on to-13 it was just oil shows and the most down dip well to date. could there be water on down the flanks close to the two injection wells, perhaps, we may find that out at a later date. because the reservoir is very over pressure there could be both drive mechanisms ongoing, both solution gas and water drive. hopefully we'll get more info from the testing and the ffd drilling. there's plenty of infill and stepout space left yet, south eastern flank of the field looks pretty sp****. i'd like to see if they mention the gor with the flow test results. something down there has recharged the pressure.
nige,
the company has already suggested to-13 and to-14 are connected, therefore likely to be on a similar pressure regime. also 120m of oil shows in to-13 and 80m of oil shows in t-14. we don't yet know the downhole or flowing pressure of these wells. to-14 closest offset well to to-4 (12580bopd), so hopefully that one will flow quite well even if it doesn't meet to-4 rates (it may do but not counting on it). to-13 is around 1.4km away so reservoir quality may change even if its still highly fractured. my guess at the moment would be that to-14 on the crest is likely to flow better than to-13, even though to-13 was first described as a cornerstone well and has a larger oil column. reason being, production history of the field, to-14 positioning. could to-13 still outperform the other wells, it may do, its the most down dip well on the field. increased depth normally means increased pressure. my current view is with modern logging and completion these wells should outperform the 1960's well given the information from the drilling to date. we'll know either way very soon. the company now describing themselves as an exploration and production company is the most telling statement yet.
regards,
ed.
TNM,
Forgot to reply to your last point. Yes pumps could also be used as could laterals for longer completions, both would aid the amount of recoverable oil per well. I think the most likely will be the return of pressure support at some time (water flood). So yeah I agree ESPs are also an option.
PS. not sure why none of the capital letters showed on my last post, bit twilight zone on here today. :)
Regards,
Ed.
Ed
Thank you SOO much for taking the time to reply.
I did notice in the recent Corcel presentation on page 25 indicates “Tobias Field Appraisal” ongoing until end of Q2. Makes me wonder if we will be drilling an appraisal well now after test?
TNM,
You're welcome. I guess that will depend on the ultimate flow rates of these two wells. I'd imagine they'll drill as many wells as required to get to their Q4 production target. So yeah we may see another 1 or 2 wells drilled during that appraisal period. From my contact with the company the FFD is likely to require quite a few more wells as per previous RNS' perhaps sidetracks and horizontals. I guess as production naturally declines they'll infill across the field.
Regards,
Ed.
Thanks Ed,
Great post as always, thanks for taking the time to explain it.
The big oil column was something that stood out from the original RNS, so it gives them something to work with and with modern techniques, maybe it will perform better then the historic figures?
Hopefully we are now entering a busy news period, so once the results of these wells are out the company will be able to tell us quickly about the forward plan and the potential production from the 2 wells so far.
If they do drill more wells this year, do you think there would be a possibility that they may improve on that year end target of 17500bopd?
Thanks Nige
Someone in this group mentioned previously that the LinkedIn slide mentioned 18000bpd so it’s possible. Let’s get there first, after all their projections were at $70 bbl $112mill whilst $80 bbl $148mill.
All this being just the oil play, if by the end of summer more Russian production goes offline we might be looking at $90-100 prices like in 2022.
This all ignores the lithium play which by the last report the canegrass (1 of 3) sites had more upside then first thought and they thought it had deep reserves before. This year we have our eyes on the $112-148 mill but if these other parts get added in year 2/3 we might be looking at $350mill with current LSE P/E ratios for oil and gas company’s the company share price could go to £8-36 in a few years time which is a good deal higher then we are now.
But it’s a long way from October 2024, some 6-7 months so let’s do our best to see if this is our stock that makes us. I’d be happy if that was so.
Lol I think that is a bit optimistic.
£8-36 would be up to a 4500 bagger or a £67 billion market cap.!