Member Info for Adon30

Eyeore has posted a link to coho satellite image on the other site. One of the best images we’ve had of the area for months. These are my comments on the image comparison below (also on other site)

Looks to me like they are working around 50m from the shell facility. The white dot may possibly be the digger. But also if you compare the image with the 13th you can see a large pile of dirt on the one side of the road that wasn’t there 5 days ago. Also where there was vegetation around the shell facility it is now mud so recent activity there.

Nearly finished??? ………fingers crossed……

HS I wouldn't go and stick such tight timelines on things. It is T&T after all.
10 days approx would be at least 10 working days. So two weeks at least. Maybe week beginning 30th May we could get EIA news.
As for Coho let us hope that they have made/ making good progress with getting pipe in the ground. Weather forecast for next week is not looking good with daytime thunderstorms. I wouldn't like to be in a jcb or handling kilometers of metal pipe in that! Think the sticky bit will be getting it connected to the Shell line (if they haven't done it already).
Will think about potential drilling when they actually get started again. No point guessing at this stage.

Is the SP finally heading to the 6p that JA alluded to??

Some consolidation…..

I read about the olivine carbon sequestration system a long time back and looks a good strategy. That and planting more trees would be the way to reduce the effect.
The world will always still need energy and cannot be eradicated. The only way is to offset it.

They have already said what they are doing going forward. They will not report on that until either:
Interim Results around 12th August or they start further drilling in Romania.
I would expect interim results would come first.
Only other possible would be some sort of share buy back communication. But they are saving money for the ever increasing drill costs. So may be after results of those are known.

Only one of the three wells to drill is exploration.
The other two are development drills of known hydrocarbon plays. The biggest risk is the drilling itself.

Now on YouTube

https://www.youtube.com/watch?v=nOqKsfA7mXU

Presentation is available on investor meet. It was there yesterday afternoon when I watched it. Q&A were also added early evening.
Stokey the question is up now. But don't really understand the answer..... wasn't one of the better points. Glad JA was there as he's more authoritative with his responses without being completely patronising like the last presentation.
Happy with the presentation and response. Not happy with the SP. I think if they could speed things up they would and it is a bit disappointing it is not at the point it should be. This type of production is going to be lumpy. But they have had luck with high prices cancelling out production rates dropping. Still good cashflow though.

I thought that may get blocked. Victor Oscar Xray markets is the second part

Is the recording up yet? I haven't tried to look.

But email subscriptions@**********.co.uk if you want to query it.
I couldn't spot anything on youtube yet either.

It is only investors that need spoon feeding that require dates. Things change all the time and at present companies need to be fluid to adapt. There are a lot of people that are incapable of doing there own research and then whine because something hasn't happened that they think should be or have completely misinterpreted things.
I watched another companies presentation yesterday and a lot of shareholders were asking about a certain point they had expected. However the company clarified exactly what was meant by it and it does make perfect sense, it was just that certain shareholders had misinterpreted and expected something completely different so were whinging about it.
If people are looking to trade this then they want to know what is happening every day, both good and bad. Those who want to achieve true value will be happy to wait for the good times.

Definitely answered two of my questions and they weren’t the stupid ones like which day, hour and minute will a rig contract be signed. Lol.
It’s fairly obvious on here which people actually understand what is happening and those that haven’t got a clue. I’ll leave people to make their own minds up.
For now. Just load up while you still can and come back at Christmas

Not sure on the change from AIM km. Are there not different tax implications if you were to sell a company? There were definitely some advantages of AIM that I read of. Just can’t remember at the moment.

4000ft = 1.2km so just over a third is in the trench

They were supposed to be installing compressors (for what seems like forever) to slow the rate of decline. But looks like at least one has stopped completely..... somethings definitely happened. Never had an update on compressors either

From CEC
"The establishment of a six-inch diameter natural gas pipeline, 3 kilometers in length from the COHO-1 wellsite to the Shell Baraka Facility and the installation of a pre-fabricated meter, gas separator unit, flare stack and storage tanks with a maximum capacity of 1600 barrels at the COHO-1 wellsite"

I think there will be an RNS later today with a link to the new presentation. Maybe sometime this afternoon...

Hopefully he has digested all those questions. Mine were confirmed as submitted so hopefully others were.

What cta100 said. They often store the oil and then do a single sale. HUR do the same as they fill a tanker over time and then do a single sale (lift) on the oil. It is often linked to an average price over so many days rather than a spot price and would depend on the contract they have with the buyer.
So production rates are correct. The 42,000 barrels is just the accumulation over the first quarter.

This is the elephant in the room and needs the COO to stand up and be counted. It is a worrying trend and only the high prices are compensating for it. Still waiting on that Tunisia rig and pumps which would make a big difference with current prices. Romania drilling not until H2 either.

Q3 2021
· Production for the period averaged 1,810 boe/d, comprising:
o Romania - 1,242 boe/d
o Tunisia - 568 boe/d

2021 Average
· Production for the year averaged 1,649 boe/d, comprising:
o Romania - 1,078 boe/d
o Tunisia - 571 boe/d

Q1 2022
· Production for the period averaged 1,115 boe/d, comprising:
o Romania - 610 boe/d
o Tunisia - 505 boe/d

I knew it'd come today as I have 4 different RNS to process this morning!

GLA

"the Company forecasts a range of US$35-40 million in revenue from production for FY 2022 from its non-operated portfolio based on forecast production range of 500,000 - 550,000 boe during the year."

I'd expect $9-10m per quarter if prices stay as they are. Output will also decline through the year but a very good return for the outlay.
Maybe something like 140,000 boe Q2, 120,000 boe Q3 and 100,000 boe Q4. That is with no output from Paradox.