Member Info for Banksman

I feel well chastened KS, but my reasoning is the new sites require access roads & site prep which the last wells were already in place & costed. I’m also trying to understand the cause of the dive in SP, currently 21.6p

Another way to look at it Bangrak is if production remains 5300boed thru next year at an avge $72/barrel then annual income is $140m/yr. Cost of drilling 25 wells at $4m/well is $100m. After other costs including tax etc, AXL are likely to make a profit around $20m. There are a lot of assumptions there, one being the price of oil which may dive if Trump breakers a deal with Putin who then opens the taps. Our hope is that the 25wells produce more oil than the decline in existing wells & crude price stays up.

Nice one Stally.

I figure that since AXL is also quoted on Canadian market, maybe it’s out of favour there for closing its gas facilities due to unprofitably low gas prices … which suggests that when gas price rises, the SP will soar due to gas income added to oil profits :)

Market capitalisation of AXL at today’s SP is £75m. With £15m banked means the market really values it at only £60m. With all those assets, etc, how can that be?

Looking forward to the sixth horizontal well results which ought to be due soon. Maybe a time to top up.

Drill time from spud to oil is now around 4 weeks so we may hear news on HZ-5 as early as end of next week. Nice :)

RNS 31 July said the well was spud so should expect to hear soon results of this the 3rd horizontal well. Having broken through 30p is 40 the next SP target? :)

RNS 29.1.24 indicates the results of Rod Pump clean up followed by ESP installation and flow rates plus the Pressure Memory Gauge recovered with drill data would all be available by now. Perhaps at current SP it’s time to take my 12% profit.

Title of this thread seems appropriate in that having dipped out of UJO I’ve now dipped back in. I just can’t believe that this co. with all the money in the bank, no debt, and assets at home & abroad is only valued at around £18m

3200 boe/d x 365d at say $80-85/b is $90-100m and is likely to be double in 2024. This SP will soon be moving :)

Hey PKR, respect for knowing what a banksman does, not many do :)

Less than 1 imperial gallon/minute. After a few beers, I reckon I could more than match that flow rate. It’s a joke. No wonder the SP took a dive.

Due any day now (see last RNS update) so topped up another £1k just now. SP is bound to turn at some point

I’m still out but keeping an eye on UJO. I can’t get it out of my head, if the bod aren’t prepared to invest in their company then why should I?

The well was spud on 19 Jim & drill complete on 13 Aug. Clean up started 8 Sep & still no news 24 Oct.

I’m with AXL & on the RCE reservoir they drill, test, install pump & optimise flow in 4 weeks … and all in the Colombian outback.

What’s going on with this lot? … WFH?

My mother used to say …

If ifs and buts

Were apples and nuts

Then all the old women

Would be filling their guts

Also from RNS 18 Sept for maintenance on 2wells shut for maintenance:

“The rig is expected to arrive at the Oso Pardo field in mid-October.”

Hopefully more good news soon

Canacol have exercised their warrants …

https://stockhouse.com/news/press-releases/2023/10/16/canacol-energy-ltd-announces-exercise-of-warrants-in-arrow-exploration-corp-and

AMC, see link for well clean out

https://search.spe.org/i2kweb/SPE/class/SPE%20Disciplines/Well%20Completion/Completion%20Installation%20and%20Operations/Well%20clean%20out

Good vid Troajan, very informative & a prompt to fill my c/heating oil tank.

The chart on Russia’s reduced income is worrying where the export of gas has reduced massively. They haven’t the facilities to liquify it so what are they doing with it? Flaring it? So much for global warming measures, huh?