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I think that the main problem in Trp is that they not understand that they dont have enouge money to
hold project like camroon.
Its a lot of money... and trp is too small for that.
What the options?
1. To do a farmout but to remain with 20% and thats it (if there is any compeny that wants to farmin).
2. To leave this block... The deluation is killing the imvestors.
Without cameroon trp have very good blocks with good position for a farmim process.
Namibia - We have very large block with large leads and the block is the nearest to Xom blocks ...
In south africa we have block with new age and his promising...
So lets leave this cameroon thali progect it will be the correct thing to do according to the current situation.
Just for clarification, Cameroon is the least risky and cheapest option. Namibia requires a few 100 millions for 3d seismic and drilling . Just 3d seismic will cost more than Cameroon drill and subject to favourable results only then a farm out will be possible. Almost identical situation at SA.
Cameroon is the main option and time for discussions is over. The funding has to be in place now. Talk is cheap.
Have lost faith in JA. Delay after delay. He needs replacing.
Your wrong...
The only reason the stock is in this situation is becouse cameroon.
Without it the sherr price will rise...
You will have less risk of diluation but if our namibian block is good im sure we will get farm in with carry ...
The game of cameroon is not for us... we are too small stock ...
What im saing is that cameroon is too small for majors... and to big for us (Drilling stage).
But in our prospective blocks we have good % position and we can give % from the block to big companies that can carry us until drillng...
You can see good examples on the orenge basin on:
Pel 90 deal
Pel 87 deal
3b/4b deal
Crazy,
Njoni structure is just 1 of many structures offshore Cameroon, the potential could be billion bbl potential
Ref Njoni - Total’s main discovery well was close to the edge of the structure, and the seismic quality wasn't great at the time
TRP have reprocessed with 3D and identified addotional reservoirs , so the forthcoming Appraisal drilling is in the optimal location to appraise the initial discovery but will also test additional reservoirs which are visible on the 3D seismic, but werent present at the edge of the Njonji structure where NJOM-1 was drilled by TOTAL
After NJOM-3, the next well, in addition to being a production well, will also test some reservoir layers that are connected to the original discovery wells, possibly containing a further 30 million bbls.
There are also other structures identified on the license which have not yet been drilled, so they are exploration opportunities, but could be quite substantial (over 100million bbls) and once Njomi is in production then we will have a window when we can drill exploration wells in those other structures and recover costs from our Njonji production.
Then there are much deeper prospects which currently have no numbers on potential in the public domain but are turbidite and sandstone exploration plays are analogous to giant fields such as Alba and Zafiro which are on trend within the same basin
So the overall potential offshore Camerron is very significant
If its so good so why we arnt farmin?
You understend thats its weird...
I have years of investing in oil and gas sector...
Im know what im talking about.
We dont need camroon if we cant get a farmin thaz carry us until production.
if we dont find any company to carry us - In this conditions we should leave this "opprtonity" and focus on something that more fit to our size.
In the begining of 2022 pcl.asx was trading on 5M $ value.
Now they worth 150M $ .
They were in the same condition like us but without licence like cameroon....
I know what im talking about... the mengment have to take here desicions for the shereholders or... we will back again for more and more deluations.... and that what kill us as investors.
If i was the ceo of this stock i was try to get farmin to cameroon in any condition... i dont care to remain with 20-15% but to get full carry to 1-2 drills.
If i dont get it? i was removed this asset from the portfolio and focused on farmin in the 2 assetes on namibia and south africa.
Discussions are continuing with MULTIPLE parties
That’s a lot of due diligence on them to carry out.
How many is MULTIPLE
JA said yesterday ongoing discussions and that’s it , no pretend CEO s giving there 2 bobs worth the man has massive money in this and surely wants to cherry pick the best deal to suit all.
Would you rush a game changer deal for sake of a few weeks .
Is not long now
If he delays again then all shareholders should do something about it
Yep! Roll on April. Its going to be a game changer.
If he delays again. I take the loss and make it back elsewhere. Doesn't look likely though. If he can't get a deal now, he never will
Yep
JA is not delaying, discussions are ongoing. Due diligence from the MULTIPLE parties will be needed and all that is time
Seems to me , other interested parties may have arrived at the discussion table .
Therefore everyone has to be heard.
IF JA is still discussing, its not good news as due diligence takes time. DD process should have started by now . Either way, we are all hanging on with hope . Its time to succeed and get Cameroon drilling . GLA
This time next month with no word I would be concerned. Chill yer beans James. Without news it's just pointless scaremongering. Easter. The time for rebirth and all that gumf. Like a fat ceo from the flames 🔥 🐛