Member Info for Adw198

Exactly that gravy.

The WINTER SHUTDOWN essentially means they can’t do material remedially work on exiting wells or drill new ones.

I’m sure the company will explain why they als used this precise term if you’re still mad about its use here, by Thorn, in exactly the right context

I think when one references and outstanding and expected RNS it carries an implication it’s short term / imminent etc but happy to move on.

History tells us these things take time. Negotiations / due diligence take a while and as I understand it regulatory approval would be needed. If it in Indian entity then they’re going from a standing start in terms of export licences etc.

I suppose it could be announced in principle this year but I personally strongly suspect not.

Likewise Abzzba, I don’t think the withheld revenue will be paid this year. I certainly wouldn’t “expect” that given PCs performance to date.

They have to renegotiate / amend the agreement, then sign it, then be trusted to actually meet their contractual obligations. There's many a slip 'twixt the cup and the lip’!

You’re entitled to disagree, but obviously if the things you tell us you expect to happen don’t, we’ll expect you to express your disappointment

It is indeed the biggie thorn, there’s no doubt this will take off if / when that’s announced.

If you expect it to be in the short term I think you’ll be disappointed (again), but I’d certainly love you to be right.

Personally I think there’s almost no chance of a deal until both parties know the outcome of the 2025 work programme but again that’s an opinion I’d like to be proven wrong about.

“If the outstanding expected RNSs are as..... um..... outstanding as we hope then the odd fraction of a penny here or there will soon be forgotten.”

Heron2 result

Gazelle flow rate

What else is *expected* imminently?

It’s the same price it was on Tuesday with the same prospects - having made a 50% move this month.

They’ll be no Friday Fomo the only thing we’re waiting on is a long over due binary outcome to Heron 2 without little idea of the likelihood of good news versus bad. If it’s not commercial it’ll drop sharply, if it is it’ll rise with the extent of the rise dependent on the scale of the output.

Abzzba I quoted directly from the 2 recent statements both saying the agreement needs to be amended

“PetroChina has responded to say that once the oil sales agreement has been re-worded to incorporate the pertinent details, they will then start paying the invoices in full and will clear the withheld backlog. We are working on the amended wording as a matter of urgency.“

What part of the company statement is it you’re now disputing?

@barmy

“Could you just clarify what they will be ‘re-negotiating’ 198.“

There appears to be a need for a new agreement.

“PetroChina has now advised that they will begin payment of 100% of the invoiced payments once the oil sales agreement has been amended. This amendment is now being prepared”

Plus

“The oil sales agreement with Block XIX has provisions within it for additional wells to be brought onstream and the incorporation of Gazelle-1 production is already under discussion.“

Do you see it differently?

The withheld money isn’t “due soon” WOS, it’s already overdue. Perhaps you meant it’ll be paid soon?

It’s good the government have seemingly agreed no tax is owed, but it’s not that credible to think anything is going to be paid soon. They’ve got to renegotiate and then sign the agreement - it took years to agree the terms last time and 3 months for them to sign it, at which point they failed to make a single payment in full, on time. Would you expect them to be in a bigger rush with this deal that basically means they’ll be handing over a lump sum? Unlikely imo.

Wow I’d missed that quote on the 29 September RNS re tax and PC - that’s really positive in the medium term.

Only slight issue is it sounds like they won’t pay anything till it’s resolved and we know how long it takes them to find a pen!

Yes Mal WINTER SHUTDOWN that Gravy denies is fast approaching

Agreed Mal - it’s you and the likes of Gravy who want to make it all about my latest buy / sell and precious loss.

I’d rather discuss the company.

I’ve never once said I’m big time and never once said I have a £2.5k trading pot.

But then I’ve never had to rebrand either, WOS

Steady on lads - nobody has a clue what I’ve got invested here at the moment.

Why are you bothered about tho - is it because I’ve just exposed Tenbag, Graby and Investor for kicking off about an official phrase the company use?!

Ha I know full well what’s meant by winter shutdown!

Gravy’s point was “Thorn, there's no "winter shutdown" FFS !” and you explained to him what it meant and I just demonstrated it’s a term the company use.

Oil flows do get reported through the winter shutdown though btw.

Gravy and Tenbag kicking off at the use of the obese winter shutdown simply shows why they rarely comment on the company - they don’t have a clue what theyre talking about.

The company themselves use the phrase

“there will be insufficient time ahead of the *winter shut down in November* to carry out the planned test of the Gobi Bear-1 well.

Funny watching them get so worked up and exposing themselves tho. :)

@thorn whether or not you were right to *expect* the same result, the simple facts are they haven’t produced the same.

I’d rather focus on reality and not unexplained but disproven geological theories aka ‘common sense’’. The ultimate irony here being you used to claim Heron 2 was being tested specifically for its difference as it was on the periphery of the field.

Cool story Thorn, although you may wish to reflect I’ve not made a single comment about Acid wash at Heron1.

I was challenging your false claims about 300-400bopd at Heron2 and showing well

Performance isn’t just a case of doing a test and / or saying it’s guaranteed to be the same as one 800m away. Which has already been proven to be a lie as well.

Probably not tbh, Thorn.

Heron 1 has shown us there’s a massive difference between a testing peak (821), an initial flow rate (200-300) and then a sustained rate a year later (150).

Anyway, really pleasing SP action. Hopefully reflective of good news that Heron2 will be a commercially viable producer. The most explosive move in my time here was 45% on a day, based on absolutely nothing! Strangely there were zero complaints of MM manipulation that day :)

Heron 1 never produced 300-400, so it’s baseless to say Heron2 will do that given the first time they tried it was 30bopd.

It’s ramping nonsense - we both know it.