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Board competency ?
They stated there was no offer nor a guarantee that one would be made..
The issue with identifying Bollinger cones down to whether the Company Secretary followed the rules or not.. if yes, then this person just needs to pass the external communication to the FCA, otherwise if this person did not follow rules then he/she leaves the company..
The sp was reflecting the state of affairs.. it was not pricing in a 14p offer at all.. there was 1 to 1.5p in the sp covering the potential for this offer to actually be made, so the material effects of this are not as drastic as some are making it out to be..
With the expected roll out of newsfliw over Nov and Dec, one would have already expected the sp to get into the 5 to 10p range, or thereabouts anyway..
So this bogus approach of potential offer, has simply become a very short-term hindrance..
the march update was announced quite late in april, and so yes.. the april update is due in a couple of weeks..
volumetrics is what we are after :-) how much of an initial estimate of hydrocarbons do they come up with for these structures.. that might create some serious interest, if it is good.. am also wondering what they think about future workplans.. for example, do they plan on drilling into the existing 2D seismic interps, or will they try to go for 3D next year followed by a drill the next..
"early work has identified three main structures of particular interest where petroleum reservoirs could be present and which have been part of the present Joint Technical Study efforts to understand and derisk leads within Block SK334 ahead of a future exploration drilling programme,"
drilling.. drilling.. drilling.. that's the one we want :-)
first of course.. the numbers please :-)))
news coming soon.. within 1 to 1.5months in line with webinar etc..
seismics work supposed to be completed in march.. so if they still need to compile it with other info, then anywhere from late April to mid may is an expected timeframe for them to announce initial estimate prospective resources of oil and/or gas etc... :-) could also happen already in 2 or so weeks from now :-)
Thought it's OK.. chatting to funding partners in June and over summer again.. (probably cos election is in late May 2023)..
Drill in late 2024.. that's what I understood..
CPR was close to internal numbers.. difference due to lack of 3D coverage in couple edges/areas.. nothing to do either Chuditch discovery though..
They've always called things correctly.. it's only been about the time taken for all the work to be completed.. so as with everything.. expect delays.. but this is the way it is with virtually every listed company..
was wondering why the sell down..
then realised.. they are presenting at a conference which include Farmout Promotion..
seeing that they have about 3 months to complete their decisions to drill or drop the Chuditch project, one would think that they would have a farminee already lined up and ready to sign..
possibly their presentations at these such events, makes it look like they are going on the road to sell their story to potential suitors.. maybe that is the reason for the drop in sp...
I wouldn't care much if they raised some cash for the drill, or even all of it... in order to keep their 75% :-)
possibly this is what the market is now pricing in.. as every day goes by, without a farmout announcement...
Noble just finished the last part of 3D seismic a couple of weeks ago, and has a deadline of non-binding farm-out offers for the end of March.. and they have stated they will announce which 2 prospects they will look to drill by end of March quarter :-)
I believe that they effectively 3D seismicked 3 separate prospects (10BCF, 8BCF, and 10.5BCF), so whichever ones they go for will be interesting.. seeing that 1TCF natural gas equivalent = 7BCF Helium or 10BCF Helium depending on what you read.. and Nobel will be drilling two different prospects, albeit after farm-down.. going to be massive :-)
They also have in the NE corner of their Rukwa tenements 3 prospects touching each other in a huddle, with a total of 105BCF prospective helium.. that is like 10 to 15 TCF natural gas equivalent (in monetary terms).. that is HUGE.. they did not succeed in completing 3D seismic over it, cos the terrain was too difficult, so it has been left for now, cos the other prospects are all seen as worth drilling..
according to their timelines, Geophysical studies finish at the end of Mar2023, or 2D Seismic reprocessing at end of Mar2023, and the FTG and Magnetic data review and interpretations at the end of Feb2023.
sooo.. would like to think that at least into April some quantitative figures on potential resources are announced.. :-)
Hi all,
was pondering getting into this one some time ago, and now am looking at it again, and the drop is quite obvious..
however I see they had good discoveries on their small % holds..
just wondering why the negative momentum in sp ?
Brushless,
the timing of that New Major Holder was just before the expected Sarawak new license announcement expectation...
it never happened, so the sp in general came way back... so who knows if that is about to come out now or not...