MORNING ALL!4 Feb 2022 10:25
M7 please stop with the copy and pasting. Total rollocks you spouting. I'm all for your RAMPing but FFS do actually know what your saying and claiming?
Conman AKA Helpful has toned it down and now realised PRODUCTION is the key. CEO has realised we need a drill program on multiple wells because its now or never to monitise Pine Kills whislt the oil price is has been inflated by Saudis refusing to produce more as they are trying to recoup the loses for the last 2 years. On top of this Biden came in and killed the oil patch development in the US when he was elected.
On top of this alot of oil brought on the cheap last yeat when oil prices crashed, is now being sold into the market at a 1000% profit plus on some deals. Energy compaines resaling hedged holdings back to the market and not the consumer. How long this is going to last who knows but we needed to start drilling last year.
You don't understand the next well is givan as its a off set well to C1 off the same pad possibly. Its not if we get oil its matter of when. Which begs the question why it wasn't done in Q3 2021. As we had the data and associated issues/problems with C1. We even increased storage capacity and infrastructure for next well. We were and are ready togo since last year.
There will be placing as SP is being kept low as we will not attract investors above current sp. We just haven't monitise our leases/assets enough. We need PRODUCTION and a quick turn around on multiple fronts to keep the interest. If we just keep living and relying on what we producing then we are actually going backwards in real terms an markets know this. Hence why a company is never cashflow positive.
As for new chap I hope Matt never had a kebab with him in Egypt!!!!