RE: The RRR story Part 5 - the sequel !!15 Dec 2024 08:22
banburyboy go out for sunday lunch and stay away from this bb i'm here in south australia and its 40 degress i've been a holder here and in my opinion bell needs to go im surprised he's still in charge im ****ed off with the way things are but i blame myself for buying cant blame anyone else but me
And thats youve been saying theres no rush for finance to be sorted end of june you said now i know why becasue of the rig contract been extended to october
I emailed JMK and asked what was going on with the RTO and here is the reply
Good afternoon.
A draft prospectus has been delivered to FCA. They should review it and give comments when they are ready. However it is never easy dealing with regulators.
When the FCA are happy the prospectus will be released. This will outline the business going forward, valuations, timetable, etc. There will be an accompanying RNS at the same time.
I cannot give you the information until the RNS , etc is issued for obvious reasons. I have all my fingers and toes crossed that it will be this month.
· Flow testing of the Upper SFS (USFS) reservoir confirms light oil discovery at Hickory-1.
· USFS flow rates achieved from low volume frac over small 20ft vertical interval are in line with expectations and results observed from other reservoirs on adjacent acreage.
· USFS test produced at a peak gauge flow rate of over 70 barrels of oil per day (bopd) of light oil. Multiple oil samples recovered, measuring ~40-degree API oil gravity.