RE: Presentation31 Aug 2019 23:14
BTS , he does of course - I am not privy to to anything that you are not.
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10th July, what 6 weeks ago?
A short-term gas flow test at Lesedi 3 took place after a significant gas pressure build-up inside the well casing. The result of this test is considered by the Company to represent a positive indication of the pod's potential. Post the short-term test, dewatering has continued with the plan to hold the water level just above the coal and continue to draw down pressure in the well allowing gas to flow in a controlled manner, ideally leading to a long-term gas flow from the Lesedi 3 pod.
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27th August
At the time of writing, a stabilised gas flow from Lesedi 3 and Lesedi 4 has been achieved. It is anticipated that, based on industry norms, the stabilised gas flow from the Lesedi wells should increase with time until a peak is reached.
PPA negotiations with the government are progressing and will remain confidential until the government is in a position to make an announcement.
If everything goes according to plan, shareholders can look forward to further gas flow rate updates from Lesedi 3 & 4, drilling at the Mamba project area, finalisation of the PPA, agreement of a development financing package potentially from Botswana based investors or debt financiers, seismic acquisition, an anticipated gas Reserve upgrade and commencement of the downstream power generation development.
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Now do you see why I despair - if I wanted TG to tell us we are backing a certainty, I cannot imagine a better couple of statements. I have quoted several third parties who say CBM flows starts slow or not at all, but build with time to a peak after the water diminishes. TG's , "industry norm" is therefore confirmed confirmed.
We have certified levels at Lesedi of 3.2 trillion cu ft.
I do not understand any of the fears on here , as I have said before TG ha given us timings that have not materialised but anybody who believed that they were definite timings is living in a dream world. But the alternative was to say what none of you want to hear - the project is on schedule given nobody in this world knows how long the dewatering and, IF NECESSARY, pressurising the gas to make it flow, will take.
I'm doing my best to allay your fears BTS, because the trolls are wimnning for no good reason. All they csn do is say TG is stalling because he is a con man. If they truly believed that they would not be here would they? They have to be trying to drop the price on a good thing! There is a chance TG is conning us of course - I am betting that he is not!