Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
They don't want to turn 2C into 2P until next year.
I asked and they just pointed me to an open presentation which gives the timeline.
Mind, it would be nice if someone told them they don't ned to bother... (but then the someone might not get a decent price takeover bid past their share-holders).
DrBruceeBonus
Sorry, my info came from someone in the business but I have no knowledge of oil stuff at all apart from the meagre amount I have picked up in shares along the way.
Like you, I am much more familiar with working on root canals and big bends and deviations are not good news.
For faults read fracs
Re. WD, I've just heard that, "in Vietnam same problem until drilled highly deviated wells to maximise fault intercepts."
Over time, the time between offtakes will tell us the flow rate over that period.
OK, ta.
Apologies if this has been asked amid all the posts yesterday.
Assuming Lincoln to be commercial, how long from re-entering and tie-back to production?
I assume long lead items will hold things up a bit.
Or maybe already ordered with confidence?
Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, provides an update in relation to the 205/26b-13Z ("Warwick Deep") well.
Following completion of drill stem testing of the Warwick Deep well, the decision has been made to plug and abandon the well.
The Warwick Deep well was drilled to a total depth of 1,964m TVDSS and included a 712m horizontal section of fractured basement reservoir. Initial analysis indicates that the well intersected a poorly connected section of the fracture network within the oil column. The well did not flow at commercial rates producing a mixture of drilling brine, water, oil and gas.
The Company and its contractors are currently evaluating the drill stem test data and fluid samples with the objective of providing an update on this preliminary analysis at Hurricane's Capital Markets Day, scheduled for 11 July 2019.
The rig will now undertake work to permanently plug and abandon the Warwick Deep well and will then move to the 205/26b-B 'Lincoln Crestal' well, the second well of a three-well programme on the Greater Warwick Area. Hurricane has a 50% interest in the Greater Warwick Area following Spirit Energy's farm-in to the P1368 South and P2294 licences in September 2018.
Dr Robert Trice, Chief Executive of Hurricane, commented:
"It is disappointing that the Warwick Deep well did not flow at commercial rates. We were initially encouraged by hydrocarbon shows and gas ratio analysis indicative of light oil, however drill stem testing has clearly demonstrated that Warwick Deep cannot be considered suitable as a future production well and therefore the well will be plugged and abandoned.
"I look forward to commencing operations on the second well in the three-well programme, Lincoln Crestal. This is now the preferred candidate to be tied back to the Aoka Mizu FPSO, where Lancaster EPS production operations remain in-line with guidance."
"I'm a great believer in Occam's razor : the principle that the simplest explanation is usually the most likely/best."
My simple take is that whatever is going on underground no flaring = no flowing oil and they wouldn't "find" a commercial oil reservoir without testing the flow or "leaving it to the next man" to sort out any problems.
Any idea what we put in the AS?
IFO380/IFO180/LSMGO/……?
https://shipandbunker.com/prices/emea/nwe/nl-rtm-rotterdam
I wouldn't get too excited about the $425mn figure.
I've been asking for donkey's years about what competition EDEN has and it seems extensive and growing.
This comes from 2012:
“The growing fruits and vegetables market, which today accounts for more than 25 percent of our sales, is of strategic importance for us. We plan to achieve EUR 3 billion sales in this segment by 2020 and with the acquisition of AgraQuest we are underlining our growth ambitions,” said Sandra Peterson, CEO of Bayer CropScience, sending a strong signal to the market. “We are the first in our industry to offer farmers a truly comprehensive range of integrated crop solutions based on seeds, traits and combined chemical crop protection and biological control,” she added.
AgraQuest products are available today in more than 30 countries including Canada, USA, Mexico, Brazil and European countries including the United Kingdom, Germany, France and Italy. They are used in diverse market segments such as fruits and vegetables, broad-acre crops, post-harvest protection, turf, home and garden and animal health.
Eden Research plc (AIM: EDEN), the AIM listed company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries, is pleased to announce the appointment of Robert ("Rob") Cannings to the new role of Commercial Director, with effect from 12 June 2019.
For the last ten years, Rob has worked in an entrepreneurial environment at the cutting edge of the agricultural biologicals industry and, prior to that, in key positions with mainstream conventional agrochemicals. With this extensive knowledge, Rob has been effective in developing strategies and market positioning for new conventional and biological products and using this to prioritise the development and commercialisation of new crop protection products globally.
Rob has been Global Product Manager for Chemtura, AgraQuest, and Bayer CropScience where he created global growth and pricing strategies for conventional and biological products and where he was instrumental in the sale of AgraQuest to Bayer for more than $425m. Most recently, Rob served as Commercial Director at Plant Health Care with responsibility for Europe, the Middle East, Africa and Asia.
Sean Smith, Chief Executive Officer of Eden, said: "We are pleased to welcome Rob to the team at Eden. Rob's detailed understanding of the conventional pesticide and biocontrol products markets globally will be a key asset for the company as it works towards delivering on its ambitious growth plans. His hands-on experience with the entire process from research and development through to product commercialisation, marketing and sales, will be invaluable to Eden as we accelerate our growth plans by expanding our regulatory and commercial footprint.
Rob's appointment is considered a key hire within the Company's previously announced plans to grow its in-house capabilities through the recruitment of high-calibre staff with relevant experience and track records of demonstrable success."
"Since last year's AGM Eden has reached some key milestones and made good progress with the commercialisation and regulatory clearance of its products.
At the end of last calendar year, Eden's commercial partner, Sipcam Oxon SpA ('Sipcam'), paid €0.9m for the exclusive right to sell Mevalone in ten additional countries, including the US, China and Brazil.
During 2018, sales of Mevalone more than doubled to £1.6m helping Eden to achieve overall revenue of £2.8m. This growth was generated by essentially the same commercial "footprint" that was in place in 2017, which is a good like-for-like comparison reflecting a growing market share and strong product adoption of our first product.
Already this year, Eden's commercial partner, Eastman Chemical ('Eastman'), has received authorisation for Eden's nematicide formulation, marketed as Cedroz by Eastman, from the Regulatory Affairs Directorate in Malta. Malta is acting as the zonal rapporteur Member State for the Southern EU agricultural zone and on behalf of a number of EU countries for indoor uses. Additionally, an emergency authorisation has recently been granted in Italy by the Italian Ministry of Agriculture. The granting of this type of authorisation gives an indication as to the need for this type of product in the market and has resulted in the first commercial sales of Cedroz.
It is clear that the world of agchem, whilst inherently conservative, is swiftly undergoing major disruption due to external drivers such as regulatory issues, resistance problems with conventional pesticides, and the ever-increasing cost of the registration of new products. In this environment of turmoil and disruption caused by the removal of important conventional pesticides from global markets at a rate that is troubling for farmers, Eden is well-placed to sustainably and effectively meet many of the current and future needs of growers. Eden's products align perfectly with the course set for the industry by changing public policy and increasingly challenging regulations, and we aim to ensure that the Company, our shareholders, growers and our commercial partners benefit from the success that this alignment will bring."
https://www.investegate.co.uk/eden-research-plc--eden-/rns/issuing-of-annual-report---notice-of-agm/201904160700122714W/
Eden Research plc (AIM: EDEN), the AIM listed company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries, announces that its Annual Report and Accounts for the year ended 31 December 2018, Notice of the Annual General Meeting ("AGM") and a Form of Proxy have been issued to shareholders and are now available on the Company's website: www.edenresearch.com
The AGM is to be held on Tuesday 14th May at 1.00pm at the Institute of Directors, 116 Pall Mall, London SW1Y 5ED.
After all this time revenue of £2.8mn is pathetic, especially as it looks as though that includes €0.9mn from Sipcam.
And I don't like the phrase, "The Board is currently prioritising the long-term viability and growth potential of the Company".
Viability??? Dot they think they might go bust???
Financial Results for Year Ended 31 December 2018
Financial highlights:
· Revenue of £2.8m (2017: £1.9m)
· Operating loss of £0.5m (2017: £0.8m)
· Loss before tax of £0.5m (2017: £0.8m)
· Loss per share of 0.16p (2017: 0.33p)
· Net cash of £2.5m (2017: £3.7m)
· Operating profit, before non-cash items (share-based payment charge and amortisation), and one-time items (licence renewal fee and royalties refund) of £0.02m (2017: loss £0.4m)
· Product sales increased 112% to £1.6m (2017: £0.8m)
· Upfront and milestone payments of £1.2m (2017: £1.1m)
Commercial highlights:
· Multiple distribution agreements signed with Sipcam SpA ("Sipcam") for Mevalone in ten new territories, for which a fee of €0.9m (£0.8m) was paid to Eden
· Exclusive distribution agreement signed with Sipcam for its fungicide product Novellus to be sold in Australia and New Zealand
· Successful positioning of Mevalone as an early-season treatment contributing to product sales growth of 112%
· A healthy pipeline of collaborations progressing with majors in Eden's distributor network
Operational highlights:
· Lykele van der Broek, former COO of Bayer Crop Science and former Head of the Animal Health division of Bayer Health Care, appointed as Chairman with effect from 1 January 2018
· Regulatory applications submitted in new countries for Mevalone and Cedroz, including the US which is currently undergoing scientific review by the United States Environmental Protection Agency ("EPA")
· Regulatory clearance received for head lice treatment product by TerpeneTech to be sold in the European Economic Area
Lykele van der Broek, Chairman commented: "We have undergone a year of significant growth at Eden in 2018, with a boost to revenue from product sales and the contribution of Sipcam SpA exercising it's option for new distribution agreements in ten additional territories.
"Behind the scenes, significant regulatory activity has been progressing with promising potential to unlock future product sales expansion for the business. The Board is currently prioritising the long-term viability and growth potential of the Company and is looking forward to making further commercial progress in 2019."
I see the cut flower business in Kenya is in the news today re. post-Brexit and how big the business is.
Is EDEN still involved?
If so, why do we hear nothing?
If we are not involved anymore why not and why no official announcement?
And who has the business gone to?