Member Info for Aimster

Final year results due next week. Should give the SP a boost.

From the link that Paul provided states:
“it can take between two and six days to set a full mooring spread”
So perhaps just normal preparation for their next drill? Pure speculation though.
Any idea on the Stena Don’s next drill?

Thanks Tony. I didn’t know the OWC was only calculated. I remember that you mentioned it as a risk in a previous post. I’ll read the CPR in more detail this weekend. Cheers

D2B …. Hopefully ‘Plug’ will not be mentioned in the results RNS. If a successful result we should see the word “Sidetrack”. Plug will be in a later RNS lol.

Tony … you have a lot more knowledge on this than me but what I’m trying to work out, what oil depth would warrant a standalone development for Serenity? Ie without having to drill more appraisal wells or to tie in to the Tain field.

D2B … I would be totally surprised if it was duster. My only concern would be the depth of the oil layer. The market is expecting 40ft and may see anything less as a negative when in reality anything over 11ft is a positive, demonstrating the reservoir increases in thickness due west.

D2B … I think by my previous calculations, based on I3E SA-1 drill we should get an RNS on Monday 17 Oct., with a sharp rise in SP on the Thurs and Fri before (assuming good result).

Thanks Ford707 and Jonmo for a civilised reply. Basically I’m looking at timing to buy a few more like a few others I suspect.

I don’t want to deramp a share that I’m invested but where are the permits? No visual confirmation that mou-2 Drill Pad is under construction. Probably takes around 4 weeks to construct and then assemble & safety check the drill rig. With each day goes by, it seems a November Spud is unlikely. Tell me where I’m wrong.

To be fair, CharlotteB does raise some valid points.

Yes the delay on permits is a little concerning supported by no visual preparation of the Mou-2 drill pad. Anyone have any idea why the permits haven’t been signed off? My only observation is that the proposed location is very close to the main road. Would that be a problem?

Sidetracking out of an existing wellbore is another application of directional drilling. This is done to
1) Bypass an obstruction ("fish") in the original wellbore.
2) To explore the extent of a producing zone in a certain sector of a field.
3)To sidetrack a dry hole to a more promising target.
Or 4) Wells are also sidetracked to access more reservoir by drilling a horizontal hole section from the existing well bore.

As of the beginning of September, they need an investor first to pay for it.

ARA finally took over as operator in March 2021 and we have had delays in Seismic acquisition and delays in CH-1 drill. I see it as different operator, same old delay after delay after delay.

Jettydog, the BAD point with ARA being the operator is lack of news flow, which you seem to be ok about. It’s regular positive newsflow that pushes the SP to higher sustained levels.
In the 30 Sept RNS why didn’t Charles confirm location as well as confirming a November spud and avoid all this rig availability discussions and unknowns. That’s why the SP is still hovering about 1p

Jettydog … the boss of TPDC also stated that CH-1 spud would be early 2023. Do you agree with that statement or are blindly taking onboard only the information that gives the most optimistic outcome.

Something just doesn’t quite add up. RNS 1 Sept “The seismic data required to evaluate the drilling location of the Chikumbi-1 ("CH-1") well is expected by mid-September 2022.”
Then RNS 30 Sept confirms November Spud. It can take months to process 3D Seismic datasets. The model has to be updated after adding each dataset is included and they have a lot of datasets.
So how after 2 weeks of receiving the seismic data can ARA confirm CH-1 location.
The only other reason is that AEX has not received any other information from ARA (to date) that would change that was previously stated as a November spud date.

Here’s an RNS from Oct last year.
“APT, the operator, has confirmed that mobilisation of the seismic team has commenced, and the first phase of the seismic shoot will begin on 15 November 2021. The team will then complete the second phase of the seismic shoot in Q1 2022 after the Tanzanian rainy season. The Chikumbi-1 well is expected to commence drilling in Q3 2022.”
So the Seismics are 9 months behind schedule, so how is Ch-1 spud only 3 months behind schedule?

It’s a little concerning that we have had no confirmation of the Rig and yet still on schedule for November spud. Does anyone have Charles ear? If so, let him know that the normal process would be to confirm Rig Contractor and Spud Date round about NOW if not before!! To many unknowns at the moment. Is that because ARA, having no shareholders are therefore not required to update the market with price sensitive information? Come on Charles give us an update please.

Another point Tony, it gives me an even more confidence that Geologists from both EOG and I3E have had inputs into the position for SA-2. Have a good weekend.