Member Info for Adon30

http://www.fastnetoilandgas.com/~/media/Files/F/Fastnet-Oil-and-Gas/financial-and-other-reports/cpr-report-pathfinder.pdf

Last drill they awarded the contract to cyclone.

A week later, December the 10th, the rig was mobilised.
The following was in the RNS "The Company initially targeted a spud date by 31 December - and it remains firmly on track to deliver this key corporate objective."

Then a week later from that, December 18th, the well was spud.

I'm expecting a similar timeline. So 12th/13th July for spud on my expectations.
Remember Under promise and Over deliver. Keep the faith Papa plenty more to come!

Papa where do you get end of July from to start drilling? They have mobilised the rig to site and it takes about a week to set up. Should be spudding early next week....

That's how I read it anyway

Yes hopefully here of a couple more juicy cheques being paid in. Will then be funding the massive drill project and more income at the paradox. Some great info in the TP report if people haven’t read it yet. Drilling up to 10 wells from a single pad to keep costs down.

As I suspected the rig has been mobilised. I emailed Cyclone last week and never had a response to my question so thought it may be arriving after they got through 4th July weekend.
So in a weeks time the drill should be turning ready for the next part of the adventure.

Exactly what was needed. A very businessman like CH today. Explained the situation clearly and hopefully this clears things up for the people that couldn’t understand the rns.

Funding was covered for those wondering. He mentioned again the possibility of also partnering with a financial or business investor if it is even bigger.

Timescales for drilling lateral of 20 days with a further 40-45 days of testing which would still be within target of production by September.

All looking good

Last time the rig contract was awarded they had the rig mobilised 7 days after and drilling not long after that.
I emailed Cyclone re rig #34 as their locator was showing it as being in Wyoming and RNS said it was in Utah. They have not got back to me.... maybe it is on route.... hopefully not long to wait to find out as pieces falling into place now.

I feel it was a very complicated RNS to put together. Not sure it fell together right but then technical RNS are difficult without a presentation onto them.
A lot going on at the moment but hopefully we can have a CH presentation that provides clarity on the direction planned. Maybe soon, around US listing time.... ??
The read of the RNS that I managed this morning suggests we are looking at a 10+ year project here. This is certainly not a short term thing and people should be thinking that way.
As for SP it is only at the point it was on Friday (3 days ago) so certainly no panic from me. But congrats to those that read the market and took the profit, anyone with hindsight would have done the same.

“ Our take: Initial findings for the overlying reservoirs and the potential for substantially increased resources on the Paradox project appear encouraging at this stage although will require significant funding.”

That is exactly why there is the SP dip. Funding. How are these extra wells going to be funded. People who have not followed all the other aspects of the company will not understand that part and are possibly expecting a placement. Unlikely with the other sources of income but never say never.
There is still a large amount of potential upside. I see today as a bump as people jumped from the wave. Still holding a considerable paper profit at this time though and expect more news to land shortly.

You can buy back now tom111 with a 10% larger holding ;)

Good point Scott.
Either way it is a frustrating situation that has been compounded by COVID

Cascadura and Royston (If there is a gas find) will connect to the Heritage pipeline to the North. Coho due to location was going to the Shell Carapal Ridge pipeline (that could change though).
Have a think about. Why would you allow someone who was being paid more for the same product to connect to your supply line that cost you an initial capital without getting something for it. At the end of the day it is basically about money and competition. There will either be an agreement bashed out or it will be connected elsewhere.
That is my limited understanding so as always DYOR.

The coho pipeline was planned to attach to the shell pipeline at Baraka and then to the Carapal Ridge plant. Shell have been playing hard ball for some reason over this connection and it is now down to politics.
So they will either a) come to an agreement and connect at this point or b) bypass Shell and connect elsewhere.

So (fingers crossed) we should see the results of the paradox core samples tomorrow and a further uplift.
Shares could consolidate around the 7p mark today and maybe a late afternoon surge prior to results.

Also did anyone notice this in the rns:
“ Cyclone Rig #34 has remained active in recent months, is well known to our drilling team, is available on Zephyr's timeline and is currently located in Utah, providing savings on mobilisation and demobilisation costs.”

The rig is very close by to the state 16-2 location already in Utah. Last time they announced the drilling contractor the rig was on site within a week and drilling within 2 weeks.
I was also looking at the cyclone drilling website last night. Although some aspects are out of date a couple of their rig crews have managed to drill the longest lateral in a 24 hour period and also the deepest vertical.
http://www.cyclonedrilling.com/cyclone-news.html

(I would ignore the cyclone rig locator map as #34 is not in Wyoming)

That’s my original post from advfn. Not sure how it got to the Canadian stockhouse board but glad to see it’s of use to people.

Re chinook timeline. If you think to the EIA they will be a pipeline north for gas from casc and south for the condensate. Oil from chinook would have also gone south although that may be delayed until the drill on the updip (chinook2). If however after the cruse formation testing they find further gas at chinook they can just drop it onto the casc pipeline. It is literally a few hundred metres down the road.
Another week and fingers crossed they lift the COVID restrictions so that things can get moving again.

I posted this last week so just a bump up reminder to people. Others have also posted previously.

SPE starts later Today in Trinidad

PRD are targeting geological formations in the guercif acreage similar to those in the Rharb basin.
It all in the report…

Keywords there BB. Value and Invested :)

Quarryman, what if you were paid a dividend….would SP be as important then?

In case it had slipped anyones mind the SPE virtual energy conference in T&T is next week.

https://www.spe.org/events/en/2021/conference/20ttce/schedule-overview.html

Just wondering if anything interesting will happen around that?

I too would point people in the direction of the 2020 presentation, the 2021 annual report and the pathfinder document.

I am expecting a 100% success based on my evaluation. However that includes 'failures' as some might see it, especially if they have not read the documentation. I know what I am expecting though so have set my expectations. And even with those expectations from this drill this is still a massive prospect. Just read the documentation....