Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
I think a lot of people will want to get in due to FOMO and this should carry it to 20pish before spud. Then there will be top slicing but let's not forget Helium is worth 50 times more than natural gas so the prize is huge.
Added to that, we have our own rig so can drill away to our hearts content... I topped up twice today.
'Priced at up to 50 times the price of liquefied natural gas (LNG) in liquid form, helium is essential to many modern applications as an element in high-tech products such as computer and smartphone components, MRI systems, medical treatments, superconducting magnets, fibre optic cables, microscopes, particle accelerators and space rocket launches.'
https://www.gasworld.com/story/noble-helium-secures-new-drilling-rig-to-proceed-with-major-tanzania-project/
Here is a link to Lorna's interview a month ago for those who missed it or want to recap.
https://www.youtube.com/watch?v=z7ACYwKbfvI
From RNS June 20th 2023.
Block XX: The Company continues to target having everything in place to get the Heron-1 well onstream as soon as the land issue is resolved by the government. Pumping, downhole completion and power generation equipment and power control systems are now all in country and ready to be mobilised and installed at Heron-1. Production tanks have been sourced from PetroChina. These second-hand tanks offer a cost-effective solution to achieve rapid production start-up and have passed non-destructive testing to confirm integrity and suitability. They will be relocated to the production site where installation fabrication and electrical work is planned once access to the production site is obtained. The Company and MRPAM discussed with PetroChina Daqing Tamsag, the operator of the Block XIX exploitation area and facilities located immediately north of Block XX, options to process, export and sell Heron crude during the initial phase of the Heron development.
Negotiations with DQE Drilling (DQE), the main provider of drilling services in Mongolia, have continued and a contract for a multi-well development drilling and completion programme is in the final stages of discussion. The contract envisages a reduction in drilling, testing, fracking and completion costs compared to the previous drilling campaign and includes some deferral of costs to allow a portion of the drilling expenditure to be settled from future production revenue. The contract once finalised will require MRPAM approval and discussions have now begun. The cost reductions and payment phasing could significantly improve project cash flows and overall asset value since the largest portion of the Heron development costs are drilling related.
Calling someone a liar is not very nice, perhaps you should retract that statement. No one can guarantee anything, that is something most of us realise as there is so often a reliance on others. A lie is something deliberate with the intent of misleading others. MB has never intended to mislead anyone.
Https://www.malcysblog.com/2023/07/oil-price-touchstone-petrotal-angus-hunting-petro-matad-prospex-and-finally/
'Thank goodness for that, I was half expecting never to see the certification on Block XX, this is good news indeed.'
LesMouches. Yet there is an extraordinary demand for flying and importing goods from places like China who are getting back into gear after Covid and need plenty of oil. Heron is on the Chinese border, even using second-hand tanks to put the oil in from a Chinese oil company.
Oil is not the main problem the world faces, countries like Russia are.
'In parallel, we are already in discussion with service providers to determine a timeframe in which crews and equipment can be available for the completion for production of the Heron 1 well.
The certification of Block XX as special purpose land gives the Company the legal right of access to the entire area for the purpose of hydrocarbon exploration and exploitation.uction likely to start up any time changes this company at long last. '
You wouldn't want to be out over the quite a few weekends! They have the money to proceed with production of Heron and it seems the drill operator at Heron is prepared to even wait for production before needing payment for the new wells there.
No use worrying about a sluggish sp, the fundamentals will out.
Heron 1 flowed 821 bopd 44° API to surface. 3rd best
exploration well test rate1 reported in Mongolia.
First oil forecast in 2023 using adjacent infrastructure
• 194 MMbo2 resource in place, 33 MMbo3 to >60 MMbo3
recoverable
• Low-cost appraisal/development
• Funded for production start up once the government
resolves land access issues
• Production equipment for Heron 1 acquired
• Negotiations for a multi-year multi-well drilling contract at
an advanced stage offering significant cost reduction
potential
• Negotiations on oil processing and export underway
• Near-field exploration will be targeted during exploitation
phase with high chance of success, low cost drilling,
significant resource potential
Feb 2023 Presentation https://www.petromatadgroup.com/wp-content/uploads/2023/02/Corporate-Presentation-15_02_23-Petro-Matad.pdf
Most people are grown up enough to be able to do the research and see this what a great investment this is likely to be. If Velociraptor is a positive outcome the sp will really take off. Meanwhile Heron is great discovery, better than Petro China's on the other side of the border and we have an easy way to market. For those in doubt, spend some time reading and if you don't know where to start go here: https://www.petromatadgroup.com/
Go back and read old Malcy's blogs as well.
Pay no attention to anyone on the boards until you get to now them, just do your own research and judge for yourself whether the Heron development is like sitting on a gold mine.
In the sixties anyone who made any money had to live abroad or pay 96p in the £ to the taxman. Death duties were sky high, my step-father had to move the Cayman Islands and sell the castle that had been in the family for many years.
Off to Spain this time around?
Spain does not have an ISA system as such but there is a similar investment, sometimes known as the “European ISA”. It is tax free whilst invested and has a very beneficial low taxation basis, especially if you require income from your investment. It is a little more restrictive than the UK ISA but is still worthwhile.
The two big advantages are that there is no limit and it is portable to other countries. If you would like to invest 10,000,000 euros in one year in the “European ISA” you can do! Unlike a UK ISA, the European ISA can go with you if you move country (not to all countries). If you return to the UK, the tax will be proportional to the amount of time you have been in the UK against the time you have had the European ISA. So if you have a Euro ISA for 10 years in total and have moved back to the UK for the last two years of the 10 years, the tax will be reduced. Specifically, the tax will be calculated and multiplied by 2/10ths. An 80% tax saving!