The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Thanks for info jasper .What is your conservative shareprice estimate based on your estimates of flow rates?
John389
From a previous post I detailed on the matter ….
From 21 December 2015 India Operations Update RNS.
> Cambay 77H produced ~ 715 boe during the first 10 days. 2.7MMscf gas and 252 bbls of condensate.
> Cambay 77H gas sales averaged ~ 0.267 MMscfd with a maximum peak rate of 0.572 MMscfd
What does this equate to in revenue terms ?
715 (boe) - 715 x 6,000 cubic ft = 4,290,000 cubic ft = 4,290 mcf
The current off-take agreement in place generates $4.30/mcf and let’s assume a price of condensate of $90 per barrel. Edit - this off-take agreement is now going to be replaced with a new oil and gas contract as per details in the recent ShareTalk interview. Plus Indian gas prices are now much higher. So expect the $4.30 to be a higher figure.
0.267 mmscfd. = 267 mcf x $4.30 = $1,148 per day
252 bbs @ $90bl = $22,680/10 days = $2,268 per day (25bbls per day)
$1,148 + $2,268 = $3,416 per day
This is just from one well and they’ll be opening up 73 and 77 and then these placed on cyclical production. Both wells have different characteristics so we are likely to see different results from each week.
I would imagine to start off with these wells will generate somewhere in the region of $2000 - $5000 of revenue per day variable depending on production cycling, well behaviour, reservoir pressure etc.
jasper can you give us an idea how the flowed in the past?
Going to be very interesting to see how the wells perform after the prolonged 3 year period of shut in. Both C77 & C73 are very different wells in terms of their characteristics and previous performance, flow rates.
I know Roland and the team have immersed themselves in the previous technical well data and worked extensively with their field development plan partners to really understand the previous challenges faced. For those who have done any due diligence on Roland, this is his forte and where his previous extensive experience will prove immensely beneficial.
Going to be a very interesting few weeks.
So Approval still not received as per the tweet, and this is expected Monday morning?
Good to see further PR from the company. This has certainly stepped up over this week and very good to see. They now have much more to socialise and will be able to build on this over the coming months as the story continues to unfold.
https://mobile.twitter.com/oilexltd/status/1510176140480155648
Hi Oilman. No disrespect, but I find it baffling that anyone believes this stuff. Brokers paying people to hold down the price? Why would they? They make money whatever the price. Not much different to bookmakers who make a profit whatever wins the race. Maybe I'm naive but this whole concept relies on large numbers of people basing their investment decisions on what they read on these boards. Yet, when challenged those who believe this stuff, always say that of course they would never be that foolish. Also taking this board as an example, there are always far more positive views than negative, so if it really worked then the overall effect would surely be positive?
It also depends on what you call negative. As I have said repeatedly, I am pretty hopeful of making some cash from Oilex this year. That doesn't mean I shouldn't feel free to comment when there are frustrating delays etc.
Over the last 7 years I have been accused of negativity , deramping etc etc many times by many different posters who have been here for a while and then disappeared. For about 99% of the time I was right to be negative. There have only been 2 years out of the last 10 when the sp has finished the year higher than at the start.
As I have said before, up until a year ago, I had given up all hope of ever getting my money back. People kept saying why don't you sell up, but since I was 80% down there was no point. Then Oilex and I, got lucky and I was able to get out with a modest profit at 0.407. Never thought I'd get back in, but when the sp halved, couldn't resist another punt. The reason being that, as you say, it looks like it could all finally come good this time. Ultimately, of course everything depends on the success of the refrac. Nothing is certain, but it should be fun finding out.
I think, ultimately it is my scientific background that compels me to take into account all factors, whether plus of minus. If I had written a report that left out unfavorable factors, I would have been shot down in flames. Atb. Gla.
I am referring to Raregroove
Do we really need your futile comments? You seem to take a warped pleasure in seeing a share drop after you sold but hang around like a bad smell to see if it’s been deramped enough on boards to reach your buy in! Nothing wrong in selling and buying back cheaper but you like to rub it in deramping while decent posters move on and not deramp after selling.
All necessary operational preparation, including system integrity checks and safety system validations, has been undertaken to allow for an immediate re-start of gas production from two wells (C-73 and C-77H) upon receipt of GPCB approval ???? Update to follow #OEX 20hrs ago
especially as you haven’t bought in lol!
Genuine holders who bought at multiples of today's price might care what has gone before. If we get close to half of 1p it's goodbye from me as Paxman would say.
1p next week????? You know it's kinda tempting
JR - I'm afraid that will not happen, I have never been so sure about anything in my life.
Am expecting at least 1p + next week at some point presuming the news comes as most genuine holders seem to expect it will, been a long wait here for the sp to move into the pennies but finally seems that we are going to get there soon!
No genuine holder will remember or care about what has gone before presuming the expected update comes next week and the sp will then become a literal penny stock before this time next week!
Bull**** RG it is 94.7% ...
96% of them though were crap.
of the last 50 RNSs were listed at 7am or 7.01am
Jasper
I'm not expecting one at 7am as OEX tend not to post them at this time, so if it's before 12 I will be pleasantly surprised.
But its all about the content that is key, and as someone as pointed out, there last several have been very poorly worded.
I'm sure many will try and find holes/problems in the RNS, so I hope it is watertight this time.
I reckon there will be an RNS on Monday. Another crappy update referencing further delays in this never ending horror show of a stock.
And if they are right Zag, will you then change your rhetoric or will you still continue to revert to type? Just curious?
If they are, I expect they will forget the couple of dozen times that they have said this before and been wrong and want us to treat them like Nostradamus. Naturally I'll be happy when good news comes along but trying to predict this is pointless especially as it isn't in Oilex's gift.
If all the experts are right about Monday morning RNS!!!!!!!!!