Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
From what I am following on Twitter is that it will close in a short space of time. I would imagine that the oil would be exported to one of the other Caribbean islands that have a refinery. May hit our bottom line but may also be beneficial if T&T want more exploration and production on the island. Could lead the way to lower oil taxes.
I believe it will be over $80 by the end of the year. With 6 more drills by the end of the year I see 2200 bopd by end of December and 2400 bopd by end Feb/March 2019.
If oil prices rise, net backs increase and I would assume net back would increase not only on higher oil prices but as the hedge prices for a 3rd of the production would increase going in to 2019.
I see BPC tanked this morning, glad I have my money in TXP steadily going along growing quarter on quarter.
I would assume next news will be an OPS update sometime in October. It would be nice though to have news sooner stating that 2000 bopd has now been achieved and the new contract for drilling 6 wells has been issued.
KUMS - Patience s a good lesson and one I have learnt in a few short months. I only started trading in my SIPP and ISA back in November and made too many trades and was losing money. Since finding TXP I have been patient and not now worried about the drops, not listening to derampers, as we recover. I am in for the long haul and looking forward to what this growing company will achieve in not only 2019 but beyond.
Latest update on Proactive Investors
http://www.proactiveinvestors.co.uk/companies/stocktube/10115/touchstone-exploration-expands-2018-drill-programme-to-14-wells
Might do might not. Could be hedging that oil prices may rise near the end of the year, especially with Iran oil coming off the market. With the 4 extra wells could mean that production is near to 2200-2400 by end Jan 2019. If oil is at $80 or above by then, then it is a great decision.
Good to see another 4 wells being drilled this year and making use of the cash coming in. Makes sense to drill as much as you can while oil prices are still decent and may rise by the end of the year. With the wells planned next year we could be at 3200 bopd by end of 2019. Easily be able to pay of debts with those volumes.
Oh yeah...... then there's Ortoire.
I don’t think the ops update is too bad, still 4 wells to come on to production which should be end of this month and likely to add 200-250 bopd to 1721, on target to be well over 2000 bopd by the end of year. Probably be around 2200 and hopefully ops updates will confirm in October and December.
Richard Sneller was born in 1972 and obtained a Bsc and an Msc in Statistics and Investment Analysis from London School of Economics and the University of Stirling respectively. He has thirteen years of experience as a fund manager. Richard joined Baillie Gifford in 1994 and is currently fund manager of the Baillie Gifford Emerging Markets Growth Fund. He applies a bottom up, growth approach for his funds.
So this may be a bonus drill on top of what is being drilled in the 2018 campaign. Looking back at the RNS in February the company stated that they would drill extra wells in WD-8 if the results justify further development. Looks like the results do and especially if this rig can drill over 6000ft.
Anyone sad enough, like me, who want to see what rig 17 looks like can find it here :-
http://www.rangedrilling.com/wp-content/uploads/2017/11/rigs.pdf