Member Info for Adw198

The $4m came from someone else. I asked where they shared the presentation and timestamp. If it’s wrong (as I’ve repeatedly acknowledged) just give your own figure and evidence.

Please just give me the figure - the presentation said $4m, if that’s wrong then just tell me. Surely that would help us all?

Where has it been established each well won’t cost $4m and how much will additional wells cost please?

Thanks Luqs.

Slightly separate point about how much money we have but it’s ultimately what I was getting at. Other posters such as researchandhold claimed each new well would be $1m - $1.5m, abzzba claimed $2.5m but it seems most now accept its $4m. I still acknowledge it might be less btw but it seems a sensible starting point / ballpark.

Were obviously unsure on revenue / profit from H1, let alone 2 which isn’t even proven as commercial yet (I believe it will be btw) so its not possible to say future wells will be funded from H1 and H2. If Buck said that he’s reaching. Hopefully it will and that’s clearly the aim and hope . Talk of multiple

wells next year is clearly fanciful unless they do something creative with DQE which I think would

be great.

I’m not well researched here so there might be something more concrete out there but that’s my analysis. Shouldn’t be too controversial but I’m sure it will upset the agendas of some.

Oh ok so the $4m still isn’t accepted?

It may well be cheaper. It would make the comments in the presentation inaccurate / misleading but as I’ve always said I’m happy to hear other figures / views. Hopefully they can also be backed up with a source though.

Wise old owl, a man who has posted 198 times in 30 days but complains about people wanting to establish how much each new well will cost.

At lesst Abzzba effectively conceded the $4m point having spent most of the weekend falsely claiming it was $2.5m. Not a hint of humility for his false claims and associated accusations.

“cost deferral would probably suit us given each well will cost around 4 million”

Abzzba

“Got to say I could be tempted to add more *if* H2 is commercial even if it's not a producer this year”

Ha last week you admonished me for saying it wasn’t guaranteed to be commercial.

If it’s not, can you explain how you value a company with 1 commercial well as worth £35m.

The stale bulls here are disastrous

Awful standard of argument from the underwater bulls. I’ll be selling as soon as I hit a tiny bit of profit this is for clowns based on the debate here

Hey Richar or any of the the goons who think I’m not invested. I’ll bet you a grand for charity I’ve got a decent holding here. Just get one of you to private message me and I’ll screenshot.

If you’ve not got the bottle drop the pointless personal attacks and concentrate on my desire to speak about the investment

@abzzba so the answer to how much is a”bit less” than the $4m the company told us each well would cost. Which literally you asserted as “fact” was $2.5m. For my sake I hope your investing skills are better than your comprehension. Another one clearly massively underwater and afraid to have an honest exchange

@wiseowl anything of substance to add other than hypocritically counting other peoples posts? Another one drowning with a big loss, right?

So I’ll ask again, how much will H2 cost mate?

Not the gracious apology you promised

Massive red flags coming from those who describe drilling costs as “hypothetical”and those whose contribution is “dont get bogged down in details”…aka the facts on which the investment case is based.

I hope it’s sunny in Spain today abzzba when you realise each new well is going to cost 60% than you realised.

@abzzba

This was shared yday specifically whilst we were all debates the cost.

https://youtu.be/5gQv3uwTPXk?si=ypSD0WjmorihrFMw

1h 07m.

@abzzba

It’s not really debating etiquette to ignore a question and instead just fire one back!

I don’t know how much Heron2 will cost to bring to production, that’s what I’m trying to ascertain. The company themselves have said $4m for Heron1, so I think that’s a fair starting point. Equally, as I acknowledged yday it might be the case that some of the Heron1 costs were for underlying infrastructure that might not be needed for future wells. These are all fair questions and considerations and I’m being objective.

On the other hand you’ve told us (misrepresented as “fact”) that it’s $2.5m for H2. Why is Heron 1 costing 60% more please?

I’m invested here so I’d much rather that you’re right, but can you point to me where your figures come from? Even if it’s a best guess that’s fine, just be honest about that and perhaps less critical of other people’s estimations.

Obviously the main issue for now is to get the first well into production and the black stuff sold, but these are good questions for understanding the medium term outlook.

Morning abzzba

Could you also clarify why you claimed it costs $2.5m to get a well producing, when the company quoted $4m in the presentation? Were they wrong, or were you mistaken? If the latter it’s not a biggie, but obviously you’re being very critical of others figures and everyone needs to form a view on credibility.

I’d rather stick to the numbers than the dull accusations but fwiw I don’t expect to be invested for the medium / long term so I’ve not really go an agenda either way, but I’m trying to understand the model here.

Thanks that’s very useful.

I suppose one might optimistically interpret that not all wells would be $4m as he referenced infrastructure but on the whole it seems clear and most of this board, especially those most confident, are unaware of the $4m cost.

Without sounding too negative (heaven forbid!) if it is $8m to get Heron 1 and 2 producing then there won’t be loads of money left in the bank till we start getting the income.

DQE farm in makes more and more sense imo.

@ abzzba

Just because you’ve been caught talking nonsense dressed up as”facts” doesn’t mean those of us trying to understand the prospects are trying to short it / get a better entry / whatever other conspiracy theory your insecurity makes you think.

Actually, apologies I think I misread - I’d thought you were saying $1.5m to drill plus another $2.5m to bring to production. Infact I can see you’ve ESTIMATED $2.5m all in.

Can whoever floated the $4m that they got from a presentation pinpoint the presentation please?

Well abzbba it a bit hard because you quoted facts which you then immediately confessed weren’t facts

but assumptions

“you never back these cost estimates up with any fact, *I can give you a fact, we know H2 took just under a month to drill, same as Gobi drill and Gobi drill cost 1.5 million so safe to assume* drill costs for H2 very similar, testing and completion will add a further million so 2.5 million to drill, test and complete then it starts spewing out black gold”

So $4m per producing well. Where are we finding the money to put these wells on production then?

@ovener has suggested Heron1 and 2 will bring in circa £10m which would obviously pay for more but only after a years full production. Which means no more Herons until this time next year. Plus, nobody is even considering whether each well is commercial, just assuming they all will be. Personally I’d like to see some actual facts on production before telling people it’s going to be worth >10p.

I think the DQE farm in you mentioned yday is the way to go.

Abzzba

Stop with the nonsense of thinking you know other peoples motivations. Keep it simple and tell us how much Heron1 and 2 (and the rest) will cost to start producing. FWIW, my understanding is $4m.

Next please share you views on want each well is expected to produce by way of revenue and profit.

Anyone with a long term position position must surely be all over these figures, especially if bullish. How else do people assign value?

These are valid and helpful discussions