Member Info for Adon30

“ The second part of the campaign, to drill a further one or two wells, will commence in mid/late Q3.”

SDX allowing a slightly larger window in their drill program.....?

T&T is in the midst of its COVID pandemic. They have managed to avoid anything bad up until now. The cases have gone from single figures to a rolling average of nearly 500 in the last 2 months.
There is a state of emergency, they are currently in a restricted lockdown with night curfews. The current lockdown ends Monday but it’s looking possible that this may be extended. I’d rather they got control of this once than letting it rumble away. If this means another 3-4 weeks restrictions on the island then so be it. I’d rather they came out in a good place. If the lockdown event takes effect then hopefully we should see the numbers dropping again in a few weeks.
People need to remember what else is happening and this will have a massive effect. Patience right now is key and pray they get through with minimal loss of life.

I’d expect an update when they have the planning complete for the paradox. Also release the details and analysis of the core samples.
At the same time they would probably drop in an update on the producing wells and confirm what is online and when next are due. Currently looking at a big cheque from them in September still.

Was the energy conference a virtual one or a actual one as per previously?

Thanks GRH. I did question why people were saying 3 while I was thinking it was 4 but no one corrected me. But now you have, so great! PRD drill is a lot closer than I had first calculated.

Have a great birthday!

GRH/2D
I read it as two separate drills from the same third location.
RNS has it as " KSR-18, is a dual target well, with the first in the Guebbas reservoir at 1,600m and the second in the Hoot reservoir at around 1,790m."
Unless as you say it is a stacked drill to do both at the same time?? Thoughts?

If it is only 3 then they could well be done by beginning of June

They can actually drill 300-350m in a day! But they don't do that 24/7. They run the rig for around 48 hours then have a similar downtime and then start again. So 150m a day is a good average.
I have the drills down as 8 days for the 1st and 11-12 days for the 2nd to 4th. You would also need to allow for moving the rig between pads and setting back up. But rig should be with PRD at end of June as stated

The buys that look like sells are probably both. This morning there has been someone dumping volumes. However if someone wants to buy X shares then the person offloading is happy to sell at that price. So it may get recorded as a sell instead. Even though someone is actually buying. The MMs are just creating a market here.
Think I posted a link a while ago as to how all this works and why both sells and buys may show incorrectly but are in fact both correct. Sometimes when a buy is below the stated SP (or midpoint) it will automatically be recorded as a sell as well

An awful lot of sells at 2.7. Real bargain price to be had here. Didn’t think I’d see it this low again.
Should easily go up into the drill in July and then the other wells cash flow coming in September. Not to mention the other however many wells that will start pumping out cash by next year if not before.
I may go and put a tie on!

TXP have a couple of gas finds that are being progressed to come online. One is supposed to be joining with the Shell network/ plant in the south.
The other which has just completed testing will eventually join the NGC pipeline. I know shareholders are frustrated at the amount of time it is taking to get these online. But they will definitely provide an increase to the amount of gas in the network.
There is also a further drill scheduled for June aiming at another potential gas field.

I’ve found the start point depth. It is in the presentation which is always worth watching to remind yourself of current and future plans. The start depth for the lateral is 6437 feet and the original horizontal was drilled to 9745 ft.

The original vertical well took 19 days to drill. For the lateral they are starting part way down. One of CHs interviews does state exact start depth but I can not find it at present. I’m not sure at what speed they can drill laterally but would think 2 weeks after start they would be around complete. All IMO though.

Actually I need to respond to my own post. I want to apologise to PRD (and PG) for just being referred to as a minnow. I wholeheartedly retract that as I don’t believe it to be true. We are anything but a helpless small fish.
We may be a lot smaller but we are actually the hunters and the large prey that is about us is our target.
Again I apologise to any I may have offended.

Thanks for the morning read MEM. I accidentally spat my coffee over the iPad. Nothing shocking in what you had written just lack of function control.

The only date we do know is the first Moroccan drill in late June. What happens after that though is anyone’s guess. This drill has been de-risked but as you say there is a massive prospect within our license area. I have only really focused on the first drill but know there is a follow up drill potential. If anyone could summarise the further locations that have been identified that would help me? I have seen some good links posted references previous drills but need to piece them together.

T&T is currently in COVID lockdown until 23rd May but the legacy oil fields are still operational as essential requirements. So you would like to think our current operations are still able to continue in that area. I can see EOR being the next big news maybe even before the drill (??).
You know have me thinking about the national company and the minnow link..... Yes why indeed? Who would like to buy this nice cake?

It’s looking like June. I’m thinking second week but could be later as other factors to consider.
60 day drill as going deep so August completion. First results around September time depending on what needs to or can be analysed.
All IMO

Thanks Wacky
I'm sure I read somewhere else (probably via this board) that the ammonia plants were restarting but had not seen anything about the new minister.
I've borrowed your link to post on another thread that is actual gas supply related as the one article relates to multiple parts of the industry.

Thanks MK, will watch when back home later today.
Sorry may have used the wrong wording with accounts. Was more likely an operational update. But yes do understand potential scale and does seem to get larger and larger each time I come back to it. With having all these different pieces of cake sometimes the enormity of it all doesn't quite sink in

T&T from last accounts announcement made a $1.3m loss (?? from memory so don't quote me on that and can not fin the relevant document now). However that was during a low oil price period and whilst still refining the process.
I am interested to see latest account details (particularly for T&T) which should be with us in the next 6 weeks (pre drill). With oil prices at $40+ for most of the year would like to think that has been turned around.

As for a deal.... maybe as to why details are delayed.... Hold on to your hats

Hi GRH
Thanks for posting. Must have missed that one.
Regarding your calculations. Do you envisage a single one off dividend or a split yearly one (quarterly/ half)?
Even at the low estimate that would be transformative for a lot of people. Roll on July.....

That's a big sell. They would have taken ~£200k profit from that transaction. There were 500m shares in the placing. So that was only 3% of them
But in a few months time (I hope) it'll be a case of "Look what you could have won".