Member Info for Adw198

@tenbag

It’s been well established and accepted by even the positive crew that it costs $4m to bring a well to production. So H3 + H4 would cost…$8m.

What do you estimate the current monthly cash burn to be? Obviously we can fence / seperate out drilling but without looking back I thought we lost nearly $6m last year. Obviously all years are different but that would imply circa $500k per month corporate running costs. That’s what my belief is based upon. I think if the company could fund further Herons entirely itself existing cash, it would have said so. It’s possible they have and I missed it.

I absolutely disagree that we can fund another $8m of wells based on what’s in the kitty.

I think you and I are in agreement on this point - DQE deferral would be a good thing as our challenge is cash flow to spin up more wells to make more cash. Obviously the terms of the deal would need to be right as they’d presumably want more payment at a later date, but personally I could live with that.

That’s my take too, Abzzba.

Thanks for the clear answer.

Which of course begs the question when the much touted deferral deal will actually begin.

Morning wise owl

You keep referencing a deferral agreement (“Drilling partner DQE approach Petro Matad for Low Cost Drilling Cost Deferral for Offtake for China State need”) so can you say whether you think theres such a deferral agreement for Heron 1 and / or Heron 2?

Hopefully a simple straightforward question that can receive a similar answer. Thanks

What did people make of the references to Douta drilling that don’t appear to have yielded any commentary or results?

Production seems almost guaranteed and could land anyday.

Revenue, well that needs a sales deal which has been frankly a little odd - perhaps reflective of us being somewhat over a barrel with no short term alternative.

Those 2 things should lead to a rerate at which point I’ll hopefully bugger off with some profits, if not some new friends :)

But longer term investors should be keen to discuss income and expenditure - yet appear worried to do so. PROFIT from H1 won’t do much - certainly not unless those “conservative” short term oil forecasts of $100 come in that abzzba has told us about.

Exactly @stas20

The one thing the true believers don’t want to do is discuss the investment case in facts and figures. Any attempt to get onto that leads to the cat calls.

They don’t know what the oil costs to extract, which of course has to be added to existing corporate costs which aren’t cheap. Heron 1 is most unlikely to cover anything except its own costs initially. Yes there’s potential across the field but it’s exactly that - potential.

You also made a great point re oil prices - using a short term forecast of $100 and calling that conservative was beyond a joke, but as ever lapped up. Ridiculous

That was to divert eyes away from the fact the bank had binned us off before first base.

Clearly untrue.

@jojiba

Long terms it’s never been for me.

I’m here for the spike I hope producing / sales deal will bring. If it doesn’t happen I’ll sell at a loss.

They’ll be a raise before there’s 6 wells. I can explain why later, or when I sell. I’m not bothered either way

honestly the bluffers here are something else. i thought that ****** manu in telegram would top the ****** list claiming it’s be easy to transport and sell the oil ourselves but magic’ing some trucks and drivers but i think the crew here surpass even his stupidity

right i’ll leave to monitor the buys and try to control the board. have a good day lads

There’s absolutely no chance they’ll be 6 producing wells next year.

Anyone fancy £100 charity bet on that? Doubt it.

@hamn

i posted my belief on the costs at wkend and was attacked. wos posted the same figure this morning hence asking if he agreed.

you thick ****

The facts on drilling costs are better to focus on than guessing peoples motive.

This is what the RNS says. So they might or might not defer the drilling costs. Have they deferred them for H2? Either way it stills costs what it costs and they either want paying now or more at production.

“The Company was in discussion with DQE Drilling (DQE), the main provider of drilling services in Mongolia for a multi-well development drilling and completion programme and signed a Memorandum of Understanding (MOU) in 2023. The terms included some deferral of costs to allow a portion of the drilling expenditure to be settled from future production revenue. However, MRPAM insisted that current regulations do not cater for multi-year contracting and accordingly the Company has concluded a Tender inviting all potential contractors to bid on drilling on Block XX. DQE was the lowest bidder and has been chosen to do the work. Final contract negotiations are underway and the Company will seek to incorporate the terms of the previous MOU within the framework of the current regulations”

Hey abzzba

Care to explain to wiseowl why you disagreed with the $4m cost? Even when time stamped evidence was provided

Please do indeed check everyone posting history. Spot the bluffing braggers who are most underwater folks

Can’t wait to sell here - but then I’ll really start to bash it lads

I asked a simple straightforward question whether you agreed with my drilling cost posts from the weekend, the ones I took a load of cr@p for. You do.

Rather than just answer that you come back with your usual head up your @rse lecture and accusations.

What’s your average here wise one? Utter fcking prick

It’s Abzzba and the rest of the ramping loons who needed spoon feeding mate.

Another one of the alleged bashers shared the timestamp with me and I shared it with them. It didn’t go down well.

$4m per producing wells and clowns on here speak of getting 6 producing next year.

@wiseowl

So the figure I ventured is infact one you agree with. Despite the fact you and others accused me of giving false info and deramping.

Says a lot. The only difference is you claim as a matter of fact it won’t cost that because DQE have agreed in writing to defer costs. I say they might but that’s not a fact. Either way the cost is $4m and we might offset it against income.

Wise owl you said earlier

“Drill costs $4m total each drill ($1.5 drill + $2.5m development) with lot of current Operations already cover from before”.

I spent a couple of days trying to establish this cost and you piped amongst the rest of the gang disputed it. Have you changed your mind?