Member Info for Bladey

To the chief rampers AND especially the head honcho in the telegram grp, (you know who u are), who kicked me out for raising honest questions about ALK months ago... tough!! I wasn't even aggressive in asking questions, was just doing my due diligence! Lucky to remove myself with profit!

To those who got in the highs of over £2, suckered in.. I'm sorry and I genuinely hope you can have some recovery here, somehow, someway! A lesson to learn here, always ask questions, and do research.

Nice consolidation is always good before next surge, and completely natural. Plenty of news coming to drive forward the SP. TBH, the price last few days hasn't been volatile and stayed within range. Looking forward to the 2's very soon!

Can only assume an entity is offloading since July last year, but as of yet there's been no "Holdings" RNS to support this unless there hasn't been enough volume to see it through to marker where they need to report.

Wow, u sound like an ulcer that's spreading like the wild! Completely opposite to what your username suggests lol. I think you should change it and WD40 your "Caps Lock" whilst you're at it!

Wow, Art, you don't half go on..and on lol. Now I think I realise where this missing unicorn is! Must be stuck up your back$ide! Take a break mate, go see the doctor, for a physical and mental check-up!

I'm not sure how smart metering is as an opposition to the "ONDO" plan! Can someone explain?

How does Smart Metering pose a threat? Does it have software that can detect out of hours water usage based on a ongoing algorithm build? Furthermore, reporting this to supplying companies? IF so, does anyone have any evidence or links on which I can read through?

Thanks

Hi Dan,. TBVH, we drilled to a specific depth based on data mapping for a reason. The reason being was to take advantage of latest perforation & extraction techniques that were not available when Petrofina were on site, not to mention the advanced data mapping technologies, oh so many years ago. The conversation between BoD and Sonangol obviously was to take advantage of the entire column.

To me it seems that Sonangol may have gone too 'gung ho' into the perforation of the previously never encountered sections lower down, but the plan was always to perforate IMO, they just didn't expect the increased water influx. So I believe when they return to TO14, they'll have to plug/seal the lower section and clean out any remaining fluids and perforate the top sections.

Sorry meant perforating!... not drilling!

@Dan, yes! perforated an unknown/unproven section, got inundated with water infiltration which hampered further perforation in the upper area of the column. Lack of details in the RNS to me suggests this as I've never seen such an detail'less RNS after a attempted flow test... They defo buggered something up in TO14 works.

Like I said, will attempt TO13 without repeating same mistakes in TO14 and perforate historic sections and prove up flow rates. I believe plug and sealing sections can only work going from bottom to top and hence what they were attempting with TO14, unless I'm wrong and someone will correct me on that!

Will come back to TO14, plug and seal water infiltration section and then re-test upper oil sections, IMO... after TO13 successfully starts flowing oil!

Not sure about Ed, but my belief is they screwed up TO14 by starting the drilling too low down in the column which probably intersected a serious water section. They should've started at the top section from historic production data. I reckon this is why the testing took too long trying to control the water situation!

I reckon they'll start at the top section for TO13 to avoid repeating the water issue from TO14. Which means the testing should be faster, (he says.. lol)

Mafee.. a raise worries me little tbvh, because it's done and HAS been done on a minimalists basis for needed working capital. Which is what impresses me about the BoD. With recurring revenue the raises move further away, or rather few and far in between due to growth!

I expect investors from the last year expecting the "Motherload" Contract to have been announced by now, but realise little that these things take time ...AND correct again, (I keep forgetting this is main market), this isn't AIM listed.

The Company, IMO and view are working hard in the background getting these small and mid-sized contracts, and people tend to forget that these all add up. The larger contracts will drop after complete proof of conception is realised!

It WILL happen... but as per usual, watched kettle...., patience required. I'm invested from last year and don't even bother looking in regularly I'm so confident of BoD! Each to their own!

Apologies to all, yes you're right, (Mafee), £800K! All in all, that's pretty good.. Happy with that!

Seems to me that there is a fear of a placing which has caused the decline in share price and there shouldn't be as the runway is still strong, expenditure managed & recurring revenue.

People just bored?

They're gona need mo money soon'ish. This unfortunately is a growing pain for most companies on AIM. £600K worked thru since December, (last raise), but we know they've been active getting & securing global contracts. Another raise shouldn't be an issue imo.

The fact that they suggest in the RNS that they will return to TO14 at a later date suggests to me that they believe that this WILL flow oil, but the process will take longer. So it's better to go back to TO13 and get flow rates from intersections in that well column. This being successful will firm up the Market Cap and and future after which they will have the necessary liquids and tools to complete TO14, and so forth.

It may also be possible that Sonangol have learnt from a vital mistake they've learnt from working on TO14 and will avoid similar problem on TO13 and are confident it will flow oil. The error they may have made on or during works on TO14 may have induced the unnecessary water formation and will ensure that mistake will not be repaeted on TO13, and further well tests going forward now that they have a better understanding of the geology situation!

From December 28th 2023:

** Full Binga reservoir section (~80m) encountered in the well with identical zones encountered as in previous TO-13 well and oil shows throughout

That's a decent length to be testing, in fact it's as long as football pitch!!! ...And as stated, oil shows throughout!

From 27thth March 2024:

** Testing of the TO-14 well continues following significant weather and equipment related delays earlier in the year. Reactivation of the fractured carbonate reservoir has been challenging.

As said, ~80M is a deep area to test and the methods they're using may have had to be changed in order to reactivate the fractured carbonate reservoir. With the tech of today as opposed to 30 years ago, the chances are increasingly in Corcel's favour to have a successful flow rate after activation and testing. Weather hasn't helped either and that's out of their control tbh.

I definitely haven't given up on this and in fact had a lil top up today on the weakness of share price. Fortune favours the bold, as they say! I still have JOG in my mind from a few years back and how that turned around on a problematic drill!

GLA

Sonangol has been in operation for nearly 50 years and has a wide range portfolio with all the experience that goes with it. So they know how to overcome obstacles. IF they thought flow rates were irretrievable, they're not going to waste their time and just say they working on a problem IMO, they would outright say this isn't happening!... again all IMPO!

We await their completion of works, that is all!

I think we'll be pleasantly surprised sp'wise this week tbh... Not sure about news though, but hey, U never know RockLawn!!

88E also has over 25 Billion shares in issues, (jeez), and a crazy Market Cap of £95M. Bring on successful TO14 flow rates and Corcel will hopefully have current price not even viewable in the rear view mirror! Major re-rate will be due on successful flow rates!!

Read AK's statement, there's nothing untoward in there. Sonagol the operator has expressed the delays and the oil is present as has already been proven. Most people that have suddenly turned up here are just trying to spread fear. BTW, I topped up heavily this morning and wouldn't be surprised to see Sonagol overcome the weather and other problems to supply us with decent flow rates soon.

Look at JOG market update in Sept 2017, and then consequently update in following October. A lot argued back then how orchestrated the update manoeuvre was to let in the bigger party(ies). Price shot up over 400%!