RE: Facts (Real ones)4 Dec 2024 10:35
Repeated as the original post drowned out by the NEGS and their fictional issues.
Our resident NEGS keep telling us MATAD has failed, MATAD is finished, why they say this I have no idea, H1 should prove up better than we could ever have hoped, with higher rated wellhead in place we are looking at around 800 bbl/d production, possibly even higher than that according to MB, thankfully fitting a higher rated wellhead is relatively inexpensive fast job to complete though will mean the well being shut in for a couple of days, but uping production to 800 bbl/d is well worth it.
800 x 365 @ circa $70 = $20,440,000 per year, less costs and remember we have 57 million dollars in previous drilling costs we can claim back, albeit over time but claim back we will over the coming years.
You can bet your last dollar PCs ears pricked up when they heard H1s production potential. Also very likely that in Herons 214 sq/km better and more productive wells await, no wonder so much effort and man hours being expended on nipping our success in the bud however they are already too late, they might hold us down for a few weeks or months but they cannot hold us back forever.
Now we wait to hear how the company will fund 2025 drilling season, DQE deal, soft loan etc.
H2 was disappointing flowing at 30 bbl/d, but its not dead, its suspended until remedial work can be carried out, every likelihood it will be commercial though not as “enthusiastic” as H1, but a cash generator no less.
Gobi, no positive result there, however on looking at the data it says oil in place so certainly worth another look and further investigation but ONLY when we have the cash to do so, by that I mean more Heron wells to generate revenue must take priority.
MPRAM sign off needed for our PC oil sales agreement, cant be too much longer before we hear this has been done, once formalities complete we can sell our oil from H1 which is currently stored at PC facility, H1 has been in production for 41 days, averaging 250 bbl/d = 10250 barrels of oil ready to sell right now, at circa $70 bbl that equates to $717,000 less costs.
Ignore the noise, ignore the NEGS aka: adw, espen, legalPcat, investor, gusto, doc , xxproinvestor etc etc etc all be on here 12 hours a day, oh, and ignore Microsoft Co-Pilot, rubbish in rubbish out.
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