Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Rig Ahoy!
Our Jack-up Rig 'COSL Seeker' is currently in the Cameroon - Operating Status: Ready Stacked...
ATB
https://www.infield.com/rigs/coslseeker-jackup-60656
Still holding 1M+ (albeit currently at a horrendous 'paper loss') as I presume other LTH's are...
I also presume, prior to the soon anticipated JV... once the 'electrical trials' have been proven (to satisfaction by the 'aka' other company : ) it will be 'Thunderbirds are go!'.....
FYI... For those not in the O&G industry.... Exploration/Rig rates etc... have never been cheaper to precure for a proven discovery.. (Read into this what you like :)
ATB
Your welcome, hope you have harmony in the household :)
Got my feelers out for 'stacked rigs' etc.. (for the guys outwith the industry - rigs without work).
No news yet, but with the amount of redundant Jack-ups/Semi's getting stacked this can only bode well for JA to reduce the costs for the drill.. Rig/Vessel (and crew) rates have never been lower for those with committed projects (aka 'spud' within a couple of months - CV19 permitting).
Good to hear from you, we are still on full lockdown up here!
ATB and stay safe. :)
Score, what's your beef with £150k p/y?
Albeit now in the 'current climate' but that is/was the average 'Subsea Engineer Contractors' yearly income.
For being a Company Director, their salary is very low by comparison.
I believe funds are being used to 'potentially develop the field'.
As I mentioned before (an aka) Falklands company is working on a solution to increase 'well flow' similar to the 'Laggan-Tormore' (see link below). This is a similar Gas Condensate field with historically flow issues due to the transition from well temp to export..Glycol solutions have been proven to work in the past but they are highly expensive in extraction during the process, hence (aka) a Falklands O&G company are working on an electrical solution.
ATB
https://www.offshore-technology.com/projects/laggan-tormore/
OB, apologies for not replying earlier, been busy during 'lockdown' building a greenhouse... :)
No news on the rig yet....but the Subsea/Seabed survey for the Seeker has been done, so no worries. Just have to wait for this CV19 to settle down (which is happening now in Cameroon).
Noticed a lot of new posters recently speculating SP...(still holding BTW) I'm still of the opinion that once the JV is confirmed (within a couple of weeks) we will be around 1-2p.
Once the Seeker is on station and starting drilling we should be circa 2.5-3.5p.... Once production (shallow well, proven area exploration success)... 5p+.. 'no wahalla!' :)...
Then Namibia...???
ATB
POO creeping up, as I type $29.18, Natural Gas near year high @2.11 $/MMBtu.
With COVID restrictions easing and as Asians fire up their woks again in anger... IMO the next few weeks and the SP should be back closer to normal.
ATB
Also, Unfortunately I remember the last serious oil crash in 1999 when POO was at $15, when we came out of that situation POO increased quickly and Rig/Vessel rates sky rocketed (along with EPO's share prices)
So here's hoping HO, the board and advisors will be negotiating a good deal in actively pursuing a farm-in partner for the Darwin project with respect of Rig/Vessel rates etc..(as these rates are now near the level of 1999) 'before' the recovery begins in earnest.
ATB
IMO the Falklands exploration is very much on. Obviously the SP has fell (in line with most other EPO's) due to the pandemic and resulting crash in oil and gas consumption.
Yes, I like others are on 50% paper loss, but only a loss if I were to sell. I am fully confident once we are over this pandemic economies will be working flat out 24/7 to recover from losses experienced during these dark days.
Re: latest Rockhopper RNS.
Sea Lion farm-in update.
Sam Moody, Chief Executive, commented: 'We are pleased to have made significant progress on the farm in, and that all parties have reinforced their commitment to its completion, despite the volatile market conditions. Sea Lion remains a highly exciting project and the farm in will underpin our ongoing efforts to move it towards sanction. We look forward to updating shareholders further.'
ATB
On the contrary, the savvy investor should be snapping up as much as possible.
As for striking a deal with a company desperate to sell their asserts...what better time for a buyer..
......
Off topic...IMO this is the best opportunity in history to buy 'oil stock's...once this COVID crisis is over and the world gets back to normality....we will be quids in :)
ATB
Positive report in my book..Good cash position and plenty rewards for a potential 'farm-in' partner. :)
ATB.
https://www.lse.co.uk/news/BOR/borders-and-southern-2019-loss-narrows-as-development-progress-slows-xrh8sb3yvd9skig.html
'will' and 'near'....
Mr Thomas obviously feeling confident.. SP holding well considering the current CV/POO crisis...hopefully OPEC deal work out....however Gold is at an all time high ;)
ATB
Lol thought I was dreaming last night when the SP was showing 1.60....and my whole portfolio up in the blue... but it looks like every share on this site was 'reset' to 13th Feb? No trades showing since then until this morning....Hackers??
Feck me,...just wish I had a couple of grand spare to buy another 1M shares at this current level...(well I could... but I don't think the VAT man would be very happy :o )
As OMM said "bargain of the century"...(at least this year anyway).
On top of today's RNS, it just shows there ain't a lot of free shares in issue, IMO once the JV partners are confirmed the SP will 'rocket'...NT all the way to at least 4p on spud...
ATB