Reality check is required here19 Feb 2020 11:09
Hi all, genuine holders. IMO a reality check is required here.
To commit to a June 2020 spud date is a huge statement from the board.
Most ‘short term holders’ and obviously ‘shorters’ looking for a quick buck definitely won’t like it…. Lol The De-Ramping has already begun! Tut tut.. Spooking the inexperienced in to selling.
a) The reality is we will be drilling in only 12-14 weeks from now!
b) Long lead items have been procured and secured in a compound in country (no delay customs etc.)
c) ‘Rig-books’ – Specific procedures for the ‘Asset’(RIG) are required to safely ‘run’ the tools in hole have to be developed (I imagine these are currently underway as these MUST be completed prior to Project Kick-off, Project Planning, HIRA ‘Hazard Identification Risk Assessment’ meetings etc..) Alone these ‘Rig-books’ would usually take a minimum of 3 months develop.
d) Personnel: Core Rig Crew, Drilling Team, Client Reps etc etc.. have to be sourced/mobilized – Certification checked/approved, Visas applied for (lol..You can’t just ‘press-gang’ a bunch of locals).
e) Points above cannot be started without having a CONFIRMED asset and CONFIRMED farm-out partner.
I could expand this list into the more finer technical details, but enough said for now.
The bottom line is; there are not a lot of shares in issue and I won’t be selling any of the millions I have accumulated but instead topping-up on the dips…
Lol… ‘no’ I won’t be a millionaire by June BUT I fully expect to being mortgage free (or at least paying off a big chunk)…and perhaps perusing a few car showrooms :)
ATB
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