Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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They did say at one point that they expected the initial flow rates to just cover costs. Nevertheless, it will still be cash flow, for the first time in 3 years. Gla.
Gordan, thank you for your post, it was indeed my thoughts on production pre-refracing rates that interested me as this is cash immediately in the bank, how ever small.
Some good early buys
Are we getting the usual mid morning rns ?
Elegance. I covered this on Tuesday.
" This from the last quarterly report with regard to 77h.
" C-77H had initial production levels of up to 1.0 mmscfd. The Company believes that a successful re-frac stimulation will increase production levels by 3 to 5 times." I think 73h was similar. From memory, just before the wells were shut in, the rates were down to about 10% of that. They did say they were expecting the rates to go up again, even before refraccing, due to pressure build up over 3 years. It as you say, the refraccing that we are pinning our hopes on." Atb.
on Google.
Anyone have any idea of previous or proposed production rates? BOD estimates increased flows having been shut in for so long.
Hi all,
no trades, no GOI news in OZ today (except for options update). At least the share price didn't go down!
Still waiting.......................
Hi All,
high volume again today with no upwards movement. A lot must be bailing out of OEX BUT those shares are being bought by others. Staying steady at .18. Initial selling but stabilizing. Large chunks are being bought especially before and after the close. Good to see that buyers are still positive on this! You can't sell your shares if there are no buyers and that's a fact! Here in OZ that's the issue. You either buy higher than you'd like or sell at a loss. On some days there is little or no volume in OEX.
Hang in there! GLA
Yup ... 33M late reported trades.
Someone is accumulating some major amount of shares the past few days lots of 2 mill 5 mill 10 mill buys
Where does India get its gas from?
India, the world's second-largest gas importer, sources roughly half of its needs from foreign suppliers, primarily from West Asian producers in Saudi Arabia, Qatar, Oman and Kuwai
You would think they would do their best to get Cambay/oex moving???
You were right boothy. Another late rally with 130 million traded.
Yes very quiet. Surprised Wessel hasn't made any further interviews since coming on board .
Very quiet. I’m predicting like yesterday A late come back into the blue
Meant to say both the increase in prices and new fraccing technology could increase the 2P number.
Thanks Callum. I did say in my earlier post that it could increase considerably from the 93 bcf.
" They previously gave the 2P resource as 93 bcf, which is still a lot. It maybe that with the increase in prices it will be considerably greater than that."
Unlikely to get near the 1 tcf though. Even if it did, to say contingent 2P resource is still nonsensical. Atb.
Very true Gordon
But iif the new fraccing techniques increase the volume does that mean the 2p resources increase?
Genuine question?
Lol.
Good luck Gordon, don’t ghost us waiting for the gravy train to arrive at station if you do - atb
I could win the lottery tonight. Gla.
Newby
Yes you are correct in your assumptions of billions
Another poster said the same
There’s the condensation as well that could run into billions of pounds
:)
Thanks for clarification gordon
Newbie. I talked about this yesterday. What it says on the website is a contradiction.
“ 1 TCF of contingent 2P gas resources."
You cant have a 2P resource which is contingent.
2P means proven and probable, whereas contingent means an amount that is known to be there but not commercially recoverable.
They previously gave the 2P resource as 93 bcf, which is still a lot. It maybe that with the increase in prices it will be considerably greater than that.
What irritates is that they put something that makes no sense on their website. Let's hope it's an error rather than a deliberate attempt to mislead.
On a lighter note, great to see the late recovery in sp. Gla.
According to Oilex website at cambay they have 1tcf of natural gas possibly more with better fracking techniques.
What is 1tcf of gas worth at the well to a producer ?
From a rough calculator online it says 1tcf of gas is worth 4.3billion dollars.
Let's take costs off and the fact it's at well head etc
Must be 1 billion dollars worth however there could be more than 1tcf.
Obviously it's not coming out in one go so over cambay lifespan gas prices will probably go up more.
Please can sometime with more knowledge expand thanks.
Top
It’s moved up a few times on little news
Hopefully it’ll stay there this time as we’re making good progress
It’s frustrating at times