Member Info for AParky

Great third quarter update today, things are moving at a pace

Moving along nicely with the drilling campaign. Sp movement won't come until bopd start getting announced and reserves added to by the looks of things. We already have ii's on board so no new money coming from that direction so it's down to pi's to drive it forward, on aim that's not easy on a company that's doing well, ie. Can't be ramped up for no reason and then dumped.

All looking good on the first well with three different zones identified

Yes that crossed my mind when Liquid Harmony came on board, we will be still part of it by then. Time will tell

Thales were mentioned quite frequently in updates as to involvement and preparations leading up to assembly and manufacturing, at one point there was even talk of adding funding development from them. Just seems a bit odd to me, no worries things change. Harley st seems to have gone well so far, quite a few cube of concrete gone into a tight site.

PM44 if you are along term holder you will remember the agreement we had with a French company called Thales, if not look back on the rns list to find out. It was was to build the first usable machine and then to manufacture up to eight per year, facilities were being developed to cater for this at one of their sites. Thales have disappeared from communications all of a sudden and the Daresbury site seems to have taken its place without explanation.
Daresbury doesn’t look like a manufacturing facility to me that will churn out eight units per year, which may suggest they have already had the big players sniffing around ready to pounce once a full working machine is up and running in Harley Street.
Without any explanation on the Thales deal and no mention as to the whereabouts of a facility with two production lines running simultaneously as was.
Just a suggestion that’s all.

Heaven I wouldn't call it that, excitement over till the next news probably be regarding assembly at daresborough. Anyone of the same opinion that the silence regarding Thales would suggest this is being proven ready for a sale as without them we have no assembly line to produce 8 units per year.

It is ground breaking news and will surely be making ears prick up

Pitty we weren't at 50 -60p with that kind of an update,

Maybe they are at work ian1234

Unless they change their minds I would think we will be in to Dec before all results are compiled. Also director's buying could mean we have a 30 day black out on news if it's sp sensitive.

They said they won't be doing well for well updates leaving it till all three are completed

If it was shorts OUCH

Could be shorters again

If everything’s gone to plan we should be one well down with two to go after this weekend. Maybe early positive noises From the first well have convinced the two directors to dip a toe.

Some info on the upcoming acquisition.

launched by the Government of Río Negro.

In all cases, projects were received to develop each of the tendered blocks with investment commitments and a bonus for the Province above the minimum conditions established in the specifications.

The Secretary of State for Energy, Sebastián Caldiero, presided over the opening together with authorities of the provincial company EDHIPSA, whose participation in the areas is foreseen in 10% of the rights and obligations that are granted. In addition, a capitalization of the provincial company of some US $ 3,000,000 is planned for the investments made since the recovery of the areas, so that they can be tendered in correct conditions.

Ten companies operating in Argentina participated in the process, which acquired the bidding documents for the Catriel Oeste, Catriel Viejo, Loma Guadalosa, Tres Nidos, Las Bases and Puesto Prado areas, which were not renegotiated at the time. contracts expired and the areas returned to the Provincial State.

 "We have investment proposals for the next five years in the order of US $ 70,000,000 with firm investment commitments in Río Negro territory and, apart from that, a proposal for a fixed bond to pay cash for the Province of about US $ 17,000,000, "he reported. The cancellation of this contribution, in the case of awarding the blocks, will be US $ 13,000,000 at the time of granting the concession and the remaining US $ 4,000,000 during the following 12 months.

For the Catriel Oeste area, the company Petrolera Aconcagua Energía offered to make investments for US $ 16,080,000, 28.9% above the minimum required; with a bonus of US $ 6,540,000, also above the 5,000,000 claimed, plus an extensive plan for adapting facilities.

The same company also made a proposal to stay with three other blocks (Catriel Viejo, Loma Guadalosa, Tres Nidos) that did not have as a condition the payment of a fixed bonus. Despite this, they offered a bonus of US $ 180,000 for Catriel Viejo and one of equal characteristics for the Loma Guadalosa area, plus US $ 100,000 for Tres Nidos. The investments that were presented as a proposal to obtain the award of the three areas was U $ S 23,055,000, similar to the minimum stipulated in the tender specifications.

For the Puesto Prado area, an investment plan was received from President Petroleum SA of US $ 24,340,000, 10.56% above the minimum requested; plus a fixed bonus of US $ 3,902,000, 30% higher than required.

President also made a presentation for the Las Bases block, where he projected investments for US $ 4,640,000, well above what was established at least in the tender, which was US $ 2,635,000. The proposed operating bonus is US $ 6,002,000, 20% more than the base rate.

In this regard, Caldiero acknowledged that "it is a very satisfactory process since at the time of establishing the conditions of the bidding, high and very demanding objectives were set, both in terms of investments,

Last two funding arrangements went through at 46p and 49p liquid harmony and then the Singaporean family so can't see them raising at a price much lower than that.

An article if anyone’s interested, gives a little bit of a clue as to what we are up against.

https://oilprice.com/Energy/Natural-Gas/Is-Argentina-Producing-Too-Much-Natural-Gas.html

The positive side to the price differential is the big boys are holding back and putting their bucks elsewhere which as PL has said creates opportunities for the smaller guys to mop up ie our latest aquisition when it goes through.

Hopefully one day when the macro situation improves they will start to give a bit back in the form of price increases. I would think because we are prepared to invest on new wells and work overs when the big boys are leaving their smaller fields dormant will go down well with local and national authorities. If we can keep building our footprint and things improve then we are in an excellent position and definitely right time right place.

Oops :)