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Takeover target and could be imminent.
1/7th of asset valuation?
https://www.proactiveinvestors.co.uk/companies/news/1046326/is-oversold-asiamet-a-potential-bid-target-this-broker-thinks-it-might-be-1046326.html
Https://www.proactiveinvestors.co.uk/companies/news/1046974/phoenix-copper-in-right-place-as-metals-prices-climb-says-broker-1046974.html
Only way is up!
It is strange the lack of buying .
The news coming up shortly regarding funding may be the straw that breaks the camels back.
I fully expect a large multi bag rise on that news.
Meanwhile I’m buying as funds allow.
Good enough for me to buy in today.
FAR’s compelling investment case, said the broker, which has a risked fair value estimate of 33p.
1.7 billion shares in issue.
So you don’t think the shares could rise to £1?
All depends what we have down hole and in the coming months and years ahead.
My cup is half full.
We already know there’s oil in the well and that it’s at high pressure.
Just a few days more and the company will be transformed and the share price now a memory.
Anyone care to to guess? 20p short term has been muted . With £1 plus on a large reservoir?
Our flagship asset is in the Paradox Basin, Utah, where we hold a 45,000-acre leasehold with 2P reserves of 2.6 mmboe, 2C resources of 34 mmboe and 2U resources 240 mmboe.
At $ 83 a barrel that’s a very large valuation for the company.
20p could well be very conservative.
Zephyr Energy
Zephyr has reported that initial flow rates from the six wells operated by Slawson Exploration Company in which the Company has working-interests have exceeded the Company’s expectations. The acquisition of the Slawson wells was announced on 21 December 2022.
Following the flowback of completion fluids in early November 2023, the Slawson wells were sequentially brought into regular production over the course of last month. While it is still early in the life-cycle of the Slawson wells, with a varying number of days on production for each well, production data adjusted for uptime shows an average flow rate of 897 barrels of oil equivalent per day net to Zephyr since inception.
As a result of the initial encouraging performance of the Slawson wells, the Company’s board of directors forecasts that the year-end production run rate from its non-operated asset portfolio in the Williston Basin, North Dakota, U.S. (which includes the Slawson wells) will be between 1,450 and 1,700 boepd, a mid-range increase of 51% versus sales volumes in the third quarter of 2023 of 1,043 boepd, and a 43% increase over the 2022 year-end production rate of 1,103 boepd.
Zephyr’s working interests in the six Slawson wells ranges from 11% to 32% and the Company estimates the Slawson wells to contain 2P reserves, net to Zephyr, of circa 550,000 barrels of oil equivalent.
Paradox project update
Zephyr’s operations team continues to progress planning for the “twinned” redrill of the State 36-2 well. Over the last 45 days, Zephyr’s team has engaged in detailed internal well-planning activity, a process which has included relevant input from specialised third-party service providers in addition to extensive ongoing interaction with Zephyr’s well control insurance providers. As previously announced, the substantial majority of the cost of the redrill is expected to be funded by Zephyr’s comprehensive well control insurance policy.
At the well site, all equipment (including the work-over rig) relating to the State 36-2 well operations was mobilised off location in October / November 2023. More recent operational work has included:
· the completion of a full site clean-up and soil testing (pending approval from the State of Utah);
· the completion of a regrade of the drill site, with surveying and staking for the State 36-2R underway;
· completion of drilling, directional and casing design;
· commencement of independent, third-party consultation of drilling plans and procedures; and
· advancing gas marketing and infrastructure partnerships negotiations.
Next steps will include the submission of a final drilling plan to the State of Utah and the U.S. Bureau of Land Management as part of a sundry notice amendment to the existing State 36-3 LN-C9 well drilling permit. Rig sourcing, selection and contracting workstreams are also underway, as is the pl
Super results. Ahead of expectations.
Stop loss was probably hit while they were not paying attention.
Anyway. All positive today.
There’s nothing wrong with the tests provided only human error.
The government are going to back down here or lose badly.
The buying is relentless, and momentum along with confidence is driving the price back up.
Everything is now very positive after the latest RNS releases.
That was the right decision.
This is taking off and heading for 40p first stop.
So very positive !!
Heading straight to 30p . Super news line and sat very pretty with the government. Could easily multi bag from here.
Tentative production with a massive amount to come.
Https://www.proactiveinvestors.co.uk/companies/news/1046425/greatland-gold-strongly-positioned-to-buy-havieron-back-if-newmont-sells-1046425.html
With very strong gold prices the shares are an absolute steal.