Member Info for AnimalSpirit

For anyone with an AJ Bell account there's a new Corporate Action to complete a W8-EN form. It takes two minutes.

How's this big beautiful flare looking?

Is anyone else confused by the Empire results?

On 24th May Empire stated that:

Carpentaria-2H (“C-2H”) has produced a total of 323 Terajoules (“TJ”) (281 mmscf) over 127 days

• This equates to a normalized rate of 2.75 TJ (2.4 mmscf) per day per 1,000 metres for the entire test period

• The post-soak 2023 IP30 is now confirmed at 3.5 TJ (3.0 mmscf) per day per 1,000 metres following updated gas composition analysis

Yet their most recent release states that:

• Carpentaria-2H (“C-2H”) produced a total of 323 TJ (281 mmscf) over 127 days

• This equates to a normalised rate of 8.25 TJ (7.2 mmscf) per day for an equivalent 3,000m horizontal development well for the entire test period

• The post-soak 2023 IP30 is confirmed at 10.5 TJ (9.2 mmscf) per day for an equivalent 3,000 metre horizontal development well

So essentially they are extrapolating their results from their 1000m C-2 drill to a hypothetical 3000m horizontal drill by multiplying the C2 results by roughly three. Is that legit? Seems a bit dodgy to me...

Thanks

I share your nerves Newtofo. I imagine there our quite a few of us on this board with a hell of a lot (more than we should!) riding on this.

Let’s hope that in addition to Mr Sheffield’s money he brings some of his drilling expertise to the table

Have the dial in details for the AGM been publicised? I received an email with no joining details!

Thanks DP, hopefully this Andrew Thornton geezer knows a thing or two about farm outs.

"Before joining Origin, Andrew was in private equity and investment banking, including roles at Goldman Sachs and Morgan Stanley."

Big Ones, are you still out there? ;-)

“We believe that over 2020 to 2030, overall nickel demand will grow at 5% compound annual growth rate, and that nickel-in-battery demand will grow at a rate of 21% CAGR,” BHP Nickel West president Eddy Haegel told the annual Diggers and Dealers conference on Tuesday.

As someone with limited exposure to the mining industry, it would be good to understand why larger companies like Teck, Glencore frequently wait until juniors have their financing sorted before buying them out?

Presumably the majors have the pockets to finance it themselves. So why wait until finance in place when the SP will be much higher, given that they already know how much resource is in place?

Cheers,

In addition to the composition data - which I will wait for others to interpret! - it's useful to have clarity on timescales:

As announced on 19 January 2021, longer term measures will be put in
place to flow back sufficient hydraulic fracture stimulation water to
allow the Kyalla 117 to flow continually without assistance. This work
is expected to commence at the start of the dry season in Q2 2021 and if
successful will allow an extended production test ("EPT") of between 60
and 90 days to commence.

JohnPearson, I was also on board the Sirius ship. Thankfully not to the extent of your colleague. Apparently some former shareholders are considering a class action suit which sounds as if it is doomed to fail.

Let's hope FOG delivers a better outcome.

Meanwhile care home workers continue to earn £8.20 an hour...

Yes, apparently due to the risks around storing nitrogen on-site in the Outback

Here's the presentation https://www.originenergy.com.au/content/dam/origin/about/investors-media/presentations/201126_2020_ibd_final_to_lodge.pdf

"Beetaloo appraisal and farm down opportunities" (p10)

One day, Rodney... One day...

ITGuy- I imagine they have to state that for proprietary reasons, otherwise it’s essentially releasing market info. My question is why apply for the EMPs now, given their access to initial Kyalla results?

The only negative scenario I can imagine is that the current Kyalla was a dud and yet they remain convinced of the potential and so essentially are going all in, but that seems like quite a call!

Add to this the news of the recent pipeline routing.

And of course Orson’s posts (I still believe)

We are all private investors and shouldn’t read too much into the tea leaves... but it’s an interesting coming together nonetheless

"These additional wells will only be drilled where the results from the Kyalla 117 N2-1H E&A well indicate a technically and commercially viable shale formation".

So, two scenarios: a) Origin don't yet have know anything about the commercial viability of Kyalla 117 and are simply submitting the EMPs as a good preparation (but if it was just a question of routine preparation then why wouldn't they have done this earlier?); or b) they have some initial understanding of the commercial viability, which is either positive or warrants further exploration , and intend to proceed with the additional Kyalla drills.

It would be odd for them to submit the EMPs if they already knew that Kyalla was a dud.

Thanks Schlemiel. Now why would anyone route a gas pipeline via Daly Waters if there was no gas there?

@WryYid - your inclusion of the word Sirius nearly caused me to suffer PTSD