Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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SP up 6.25% in Canada yesterday on significantly higher than average volumes . Finished at equivalent of 55p.
Biden has just announced he will replemish the reserves between $67 and $72,the fact that he is running out of ammo I would say he will be lucky to see that happen
Noticed that the Malcy's blog article hints at a delay to the start of the 15 well continuous drilling program. Following his meeting with senior management Malcy states that the program is expected to start 'as soon as November'. That's a few weeks later than initially planned. Think I read somewhere that there might be a delay getting the rig in place and this would tally with that. So Nov should be a busy month for news with Q3 results and hopefully the start of drilling.
Maly's blog valuation hard on the heels of this;
https://www.proactiveinvestors.co.uk/companies/news/995460/wh-ireland-initiates-coverage-on-high-growth-southern-energy-with-a-2-08-price-target-995460.html
Malcy in his Blog tips this to go to 1.50p,we shall see
Does anyone know what we are getting for NG at the moment it keeps dropping because of mild weather no doubt
Thanks for the info viable.. what's your views on where this could go?
Coordinates
31.739186, -89.849336
31.735427, -89.843389
on map (satellite view)
https://www.google.co.uk/maps/place/Mt+Olive+Rd,+Mississippi,+USA/@31.7345993,-89.8459779,943m/data=!3m1!1e3!4m5!3m4!1s0x8882b1a7e2a7c173:0x74441caf5d4c49d5!8m2!3d31.7547077!4d-89.8149445
The first line shows site of the first 3-batch drill which is a previously worked (old) operation. The second line is the site for a more recent, shorter SOUC lateral. The point is to draw attention to wayward statements made by some commentators, which can lead to belief of testing entirely new ground.
The first Mt Olive trio was understood to have been drilled to ~5,400 ft depth whereas the next project(s) are likely to penetrate three separate horizons.
Yep got that wrong. I did check the timing months ago, but for reasons of senility ;) got it in my head it would be end of this month.
Still good to have an RNS today . Trading on the US markets should improve liquidity and help stop the SP drifting lower during periods of low volume trading. Hopefully they follow up.the mention of the imminent Gwinville drilling campaign with confirmation that it has started in the next few weeks.
Nice turnaround on Wall Street of 1100 points now up over 600 with O&G prices joining the fray.Gas now 6.67 with an over 3% increase
Q3 results was end of november last year, and probably same this year. Some kind of operational update are probably just around the corner. Spud soon?
MOGB on checking history I don't think the next quarter results are due until November.The the last quarter results were on the 27th August,correct me if im wrong so some time to wait yet im afraid.
Not too fussed by progress or lack of it. MOGB are not known for their alacrity and the next generation extra-long laterals could further complicate processing . . . especially when they encroach on adjoining 640-acre sections. For the keener eye refer to the link below. Anything with Jefferson-Davis Co in the list should be noted -
https://www.ogb.state.ms.us/permitpage.php#
Have yet to write again to the COO with a raft of questions but cannot expect him to respond to an irritating investor. The September presentation includes intricate detail and should be used as principal guide.
https://southernenergycorp.com/wp-content/uploads/2022/09/Southern-Energy-Corporate-Presentation-September-2022-1.pdf
Regular contact with another CEO i.r.o. a 2023 growth factor is a primary focus at present. DEC remains another prospect but I'll hang in with SOUC because of the heavy-duty rig.
Wish they would hurry up with the news Tom.
At least we know Q3 results are due by month end. An update on drilling also due.
Nice little rise in Canada of 5%% as move closer to news soon
Cheers viable. Their new ConocoPhillips acquisition gives more unhedged upside and from next year hedging rolls over more. A US listing is also in plans it seems, somewhat similar to souc.
Not sure if you have seen this Emeth Value recent note on DEC. Seems like the fund manager is an E&P guy and has worked with Dec. Might be of interest to you.
https://www.emethvaluecapital.com/_files/ugd/b2ee4c_3fd6189e2a71450f962f24f91188aa47.pdf
@ 18:58 - Yes, I check DEC daily and will be taking up a small wedge. Heavy hedging still something of an uncomfortable factor to me, but I'll get over it.
Waiting on a reply from someone I know in ND. He is an expert on the Bakken and the Missi (OK). Hoping he can give me an opinion on our cabbage patch although the ideal candidate would be Benyon who has taken up some stock (twice).
Guessing . . . there seems to be some delay in getting the big rig from Haynesville but I'm probably wrong on that score.
Viable - have you also looked at DEC, who own conventional wells onshore US and have a sizable natgas production although mostly hedged, and provides 10% plus dividend yield at current share price? Curious to hear your thoughts on DEC natgas value proposition , given your knowledge of onshore US acreages/ wells? Cheers
Hi Viable,
Thanks for highlighting this latest update from 8C.
The standout for me is Fig 3 in the document which projects a tripling of production in the coming 12-14 months as a result of the drilling program to start by end of this month.
Transformational.
https://research.viiicapital.com/Reports/Research/2022/October/SOU100622.pdf
Today
So we now have the following target prices from brokers;
Eight Capital £2.00
Auctus £2.70
Haywood £1.60
All well researched but with varying degrees of conservatism built in. Lots of near term catalysts.
A third broker initiates coverage and sets a target price 3x current SP.
https://drive.google.com/file/d/1B52RQSuzpLejyE842_O6bDLk32yD5Pb3/view?usp=drivesdk
News breaking Bloomsberg OPEC considering cut of 2M bpd
https://money.tmx.com/en/quote/SOU
Good start to the day on small volume..