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Hey,
Could this be good news?
SV-2 and MEX-109 wells almost sorted - it sounds like
Testing SV29 slow but thats what they are like! (do they not realise how much cash they missing out not just producing this well from ANY zone!?)
Cash gone up despite all the expenses and issues.
That said, we have up to minus 25 degrees Celsius in Moscow this week
Allegedly, up to minus 15 in Kiev
Below zero pretty much everywhere across Northern and Central Europe
Gas prices are over $2000/mcm, as we speak
I always laughed when people here and on Twitter screamed ENW would trade at 1 pound
But f@ck me, that’s what we truly deserve in this price environment. If the governance was ok
Water ingress in gas wells is like stage four cancer - not many survive
Perhaps, 15-20% success rates in countries with cutting edge medicine. And only 5-10% in countries like Ukraine or Russia
Except of those two well sone is on test now and other one is half drilled hook up mid 2022..
Its really only 1.5. wells in terms of net revenue.
I wondered if water was a part of the zone could be blocked and the non water perforated. OR move to another zone altogether....
Unfortunately, there is s history of watering out in the RNS's and those wells did not return.
So if they have to shutdown these two wells altogetger, they would need to successfully drill two new wells just to get the the previous production levels
It will take them 1,5 years and cost another $30mn
Not to mention missed revenue during the drilling period
Re water inflow, it is very bad for gas wells, in general
Once gas is mixed with water, it is dissolved in it and you can’t do much about it
For oil wells you can produce liquid which is 80-90% water. You would then separate water at your oil preparation unit and put it back via injection wells to maintain reservoir pressure
That increases your opex but at least it is easily doable
You can separate associated gas if needed, when it is only a fraction of your overall fluid volume
But when your main product, gas, is dissolved in water, there are no easy solutions. They haven’t disclosed enough information to judge what actually happened.
Would not be surprised that was a way to suppress the share price before making an offer. At a low price, of course
OfficerFigby, I am still holding but getting more and more nervous every day
I have a sizable chunk, over 600k shares in this stock. Not easy to liquidate even if I wanted to
My average purchase price is slightly above 25p, so I should not lose money here even if goes the bad direction
Still, I hoped it would at least double. Or better triple. Nothing extraordinary in this price environment
Oldholder, re past experience it is only partly relevant
In general, Ukrainian oligarkhs would not miss a chance to seize an opportunity to get something cheaply
We are in the best ever environment for fas producers. Gas prices are 15+ times higher than what they were just recently
ENW’s share price is half of what it was in 2018
Oldholder, You are right re VGAS but at least in that deal Baring Vostok suffered the same
That was a full takeover by a third party
Two thinks can make me to get out of this share, the delisting ( in my opinion not the case) and selling above the price which is > 60 p.
Until happens I will remain holding.
About the water ingress I am optimistic because there are a class A companies who are specialists in this work .
Of course it depends of the money giving a company to remedy this think because there are also cheaper companies but with unknown results.
Krok, OH,
You all still holding?
Bit gutted about the watered out wells. What are the chances they can salvage these two.
The gas price is mega again. And Putin won't back down this time.
Such a shame confidence in this company and sector in this region has been decimated.
Plus VGA!
But I think ENW is not the case according to the past experience.
So JKX was the first one
Now is Zoltav in Russia - pretty much the same approach, i.e. an offer at current market price, once it halved. The shareholder controlling almost 90%, same as in ENW
Who may be next?
ENW is definitely on the list of candidates
Alongside PTR and CAD, I reckon
Perfect moment to rip off minority shareholders of junior oil and gas co’s
OK based on initial reported production for theses wells and working in some declines.
I would say they are losing about 1200 booed.
However the work-overs can result in increases over previous production.
If they can get MX109 back up soon and the new well on the drop will probably be plugged and then some. However will the moment to SP comes back here? No idea.
Hopefully, hopefully before the end of high gas prices - if they end.
Perhaps Krok knows ifwatering out is recoverable of not in gas wells. Partially block off par of perforation this is watering. OR are they changing to different production zone.. OR probably that's plan a followed plan b.
SP dropped on v small volume. See if bigger players take up slack or not in short order.
Hard to judge how bad todays news is, but it feels like the risk in the stock has increased a lot.
Apparently the joke has moved to phase 2!
So funny.. LOL.
Krok, one thing that we (or at least I) are beginning to appreciate is Mr Putin likes a good joke!
Massive geopolitical jokes.
.He's quite good at them..
Meanwhile, gas prices are growing again on latest NS2 pipeline news
It is all b/s, not more than a joke
Russia’s got all what it needed from Ukraine:
- Crimea, first and utmost
- Instability in Donbass
- Weakness of Ukrainian economy
There is not a single reason for Russia to even consider invading Ukraine. Just makes no sense whatsoever
This nonsense shall disappear from news soon like it happened on several similar occasions in the past
The invasion risk is balanced against the still-crazy gas prices. NS2 being delayed again can only be positive for gas plays (not for us consumers however!)
Well we have out our in-house Russia expert can comment on any invasion in prospect?!
Possible Russian invasion of Ukraine is problematic. No doubt very cheap on fundamentals and if no invasion this will be double from current levels in coming months. All about risk reward here.
You might have spoken too soon!
OF,
You might be wrong about the listing rules, but you're dead right about the decision being in N's hands alone.
My argument is that he would be stupid to delist ENW now or any time soon.
From his point of view it would be costly, disruptive, destabilising and wholly unnecessary.
And I think Krok's right, now the nerves have settled, we'll probably see further sp movements north pre Xmas.
Steady as she goes...
I was wrong about the 25% rules applying to ENW as well as JKX. ENW is now just listed on AIM so the rule is 10% not in public hands.
However, the continuing listing on AIM is just one mans decision.