Member Info for abzzba

Link below.

https://www.interoil.no/?page_id=13&year=2022&PressReleaseID=2733320

Interoil production report out for March and it's good news.
Extract below.
Comparing operated daily average production in March with the previous month, there is a slight increase of 112 boepd mainly explained by the activity in Argentina, especially in the Santa Cruz (SC) operation.

In Argentina, the SC output production had an increase in their operated production mainly explained by some optimization in the maintenance of the surface equipment still being undertaken since the beginning of this year.

As per 19th April 2021 RNS we sell our oil at Brent spot prices less a local discount, we also blend our oil in order to get a better price, someone did post that our junior partner Interoil got only 55 dollars a barrel though that was some time ago, also remember Interoil have only an 8.4% interest so they are only selling around 23 bbl a day.

The recent tier 1 doc details two of the Chorrilos wells (CMo-8 and CMo-24) are expected to give an uplift of 75 to 100 bbls/d each, the projected workover costs for each of these wells is $100k to $150k.

Then we have CBr-4 gas well in the Campo Bremen field expected to give an uplift of 2 - 2.5 MMscf/d with capex between $50k - $100k, these three workovers would increase overall production by around 30 to 40%, even mid case uplift we would recoup expenditure in a month at todays oil prices and add around another ten million dollars to our annual turnover.

Based on the production figures from the 5th April RNS and our new gas prices once the current contract expires at the end of this month I estimate that at current production levels our turnover should reach 20 million dollars a year, that does not include revenues due to increased production from any of the workovers or Campo Limite or Monte aymond.
Let's hope oil and gas prices stay high for the foreseeable future, realistically I do not see the prices falling anytime soon.
Happy days just around the corner.

JONNFUNK, when we reach 2p or 3p I am quite sure many will be wondering what to do, if we can reach 3p from where we are I think I will be tempted to hold, certainly a reaccesment required at that time. Meantime. GLA.

Given Argentina is running low on fuel I do wonder if it might be better not to enter a contract for our gas, seems Argentina need all they can get so why give it away cheaply.
Not long until Argentina winter when demand will be at its peak.

Woodrow, as far as I can see telegram is an app that needs installed then you need to find the echo group, to much faff for me.
Below may be helpful.

https://telegram.org/tour/groups

Tombi1, it can and will get much better once we get the workovers done, higher production being sold at higher prices

Fuel crisis in Argentina.

https://www.google.com/amp/s/neftegazru.com/amp/news/politics/732883-argentina-one-of-the-most-gas-rich-countries-in-the-world-is-facing-an-energy-crisis/

Assuming you bought in at a reasonable price it's just a waiting game, we will have good days and bad days but one day soon the RNS we are waiting on will arrive.

Just a waiting game here, increased prices means more money to spend on the workovers and Campo Limite, the increased production from the workovers and CL.

March 24th 2021 RNS states.
"As a result of the Contracts, a minimum of approximately 70% of gross daily gas production from Santa Cruz Sur allocated to industrial customers will now be committed under secured contracts until April 2022."
As this contract ends this month we should hear very soon if we have an agreed contract.

OilT, certainly I am eager to hear what will be said, especially timelines for the workovers.

Why worry about Zak mir, sp up another 4.3%, new gas contract prices imminent, we have new investors piling in, what's not to like,

Wise investor, you say 1491 boepd at say $70 is 38million per annum, your figures are wrong, one barrel oil price is worth around five times more than the equivalent Boe in gas, roughly, one Boe (gas) is worth around 18 - 19 dollars.
I am using phone for these posts maybe someone else could explain in more detail.

Think we just might get another RNS this week telling us about new gas contract pricing, surely we can expect a 30% increase as a minimum.

Goza thanks, for info the December 2nd 2019 RNS refers to the costs repayable to Phoenix that MH speaks about.
Wish I could attend the upcoming meeting but I am not in the UK, let's hope someone that does attend asks why the three best potential workovers mentioned in the tier 1 doc have not been completed, expected capex combined for all 3 is less than 400k dollars and the expected uplift would increase production by at least 30%,given we have spent nothing but running costs in the last 5 months we should be able to pay for these 3 workovers.

Goza, you appear to have extended your timescale ?

Quite simply, to see a significant sp rise we need to increase production, whether that is by way of the workovers or Campo Limite or Monte aymond, the problem with CL is the cost, our contract with Phoenix means we must repay 60% of CL costs with a cap of 1.1 million.
Given we have spent nothing apart from running costs in the last few months I do wonder if they are building a cash reserve for CL.
As usual we are in the dark so it's a case of wait see.