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I’m no expert but surely oil is harder to flow than our gas?
Hi mk111.
See below , recent sand jet ops for Beacon energy, similar situation to us .well bore damage , fluid invasion.
Hopefully we will get better results or we will have to side track and we don’t want that.
“On 14 December 2023, the Company announced that as a consequence of operational issues encountered while drilling the SCHB-2(2.) well, the reservoir near the wellbore has been invaded with drilling fluids which are restricting flow rates.
The Company subsequently undertook a sand jetting operation with the aim of creating deeper perforations which would increase communication between the oil-bearing reservoir and the wellbore, and therefore increase production rates.
Following completion of the sand jetting operation, as announced by the Company on 12 February 2024, a rod pump was installed to clean the well. Disappointingly, although there is not a stabilised rate as yet, it is likely that any sustained flow rate from the well would remain materially below the flow rate expected given the excellent reservoir quality encountered.”
We are now in a position, when a poster who only says'all 3 projects will come to fruition' and talking about his vegetable plot is now shouting down one of our most knowledgeable posters. Jimmy23 - please do not take any notice of this absolute rubbish. You have asked more intelligent and 'much needed' questions then a certain poster could even count to.
This board is in a state of pure bedlam. Sense needs to return and the valid question of '1000 days after discovery why haven't we been able to extract any gas' is extremely plausible. The trouble with the vast majority on here is you just are not allowed to question anything unless it is ramptastic bs.
Signing off until the next RNS update.
Looking at bio, he founded and floated an Investment Bank - this bank was then involved in an advisory capacity on $22bn of deals. Doesn't seem like a full service bank more like a Panmure Gordon sort of outfit I'd guess - impressive nonetheless.
Think he has 2% from chat here so only cornerstone in sense of being in from the start again from what I gather.
Don't imagine he is over exposed or leveraged here so wouldn't worry on his behalf think he is more than capable of deciding his risk/reward balance.
@The bold
It is well documented that GRH was in at approximately 1.5p
I just wish I was as overly exposed as you put it
Thebold you have previously posted
"in my experience 4 out of 10 SJ operations actually improved wellbore and near formation damage. Hope it all goes well"
I have twice asked you to elaborate but it seems you have missed my requests.
As you have at least ten "experiences" of SJ don't you think you should back up a statement like that with some facts? The information would be very relevant and well received on this BB.
I understand fully if you're too busy mud slinging.
As I suggested yesterday, the hyenas continue to circle and bite
Indeed i dont, nor do others have any idea of other posters status yet they have no issue`s statements or comment that do not attract wrath. I myself have very little personal wealth just to be clear.
Shaker "Seeing As GRH has shaken hands with the King of Saudi Arabia"
I thought you were saying this tongue in cheek but I see you were not - lol
It would be good to know if the op in question indeed had cornerstone status. I am very surprised others have not asked this as it indeed makes a very big difference in perception. I have just added here today as i see value at these levels,.
The bold-You have no idea of anyone's personal wealth on here so lay off the over-exposed comments.You're coming across as a bit childish.
TheBold,
Surely you’d know?… After all, you just claimed he was over exposed.
Jimmy,
I to find your input here of interest and value.
Is GRH An official Cornerstone investor with us ?
Would be good to know ?
SB.... was your tongue in your cheek when you posted about GRH and the King, because if it wasn't I have a wardrobe full of wonderful clothes you might be interested in.
IJWT
I agree there was push back on you. The carrot that was dangled was there may be no need for testing, as there is a buyer on board . Absolutely you were right. The reason PG got upset was that this was all exposed at the meeting from the looks of it.
There were also it appears people placed in the room to harangue him. But if there had been an intelligent testing plan already in place a large part of this drama would have been cut short.
We are all making assumptions on PG's ability to deliver and do it in a more efficient manner. In a relatively short space of time we will see. Pg knows we are running out of road.
The T and T could be a very good deal. But Guercif should be front and centre with everything.
How many on this BB shook hands with PG and how many shook hands with GRH at the presentation.....was GRH present?
I personally would not be bragging about that but each to their own.
I hold stock here as well as char and have every right to post so long as it does not break any rules. others should do the same.
As far as floating a $22billion investment bank, good on him, he obviously did not make enough out of it though to avoid being acutely over exposed here.
i fully realsie the guy is hero worshipped here, its ok.
The delay in testing remains a perplexing anomaly in company strategy. Regardless of Agreement IV, this could and should have been done with options on all long lead items sorted before the raise to pay for it. With a presentation demonstrating the engineering and process. Have seen plenty of that in others to be definitive on plans.
Admitting taking your eye off the ball and creating a 6 month plus delay in proving value is a fairly cardinal sin in my book. If Paul genuinely thinks there is 7 TCF plus why is he fecking around in T&T instead of getting Sandjet in country and under way with the petroleum agreements signed.
I don't buy the conspiracy nonsense, it would be easy to get a controlling interest if so desired without waiting for us to test and spending money to delay it through proxy actors/agents.
When I first posted here probably 8-9 months ago I decried the absence of testing then and was shouted down, astonished we are still waiting with little clarity on timing.
Seeing As GRH has shaken hands with the King of Saudi Arabia and founded & floated an investment bank worth $22bn,I'd say you're not fit to wipe his shoes.You've been registered on LSE for 6/7 weeks with over 200 posts,most of which are on CHAR and already you're having a go at fellow posters.Makes yer laugh.
Do you personally know both of them to make those weird assumptions ? very strange comment to make !
Another Troll, not fit to wipe Grahams shoes!! Idiot!!
Let’s see the outcome here!! Until then just put a sock in it please!!
I have to say Fred it’s a stunning example of value creation in just a few short years. If only one had been prescient enough to identify, invest , advise and capitalise at the appropriate junctures.
Let’s end the GKP Comparisons
GKP successfully flow tested SH1 in the same month of August 2009 that the discovery was made, 2.5 years later in February 2012 the share price peaked at £4.40 from a low of 6p in August 2009.
PRD made a discovery over a 1000days ago and havnt got it to flow yet, the share price reflects this.