George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
Roll on the flow test, lets hope that it indicates commercial flow rates that are attractive to industry, we and PANR have to recognise tight nature (vs. PIKKA for example) of reservoir but balance this against the attractive location close to TAPs.
"Contingent Resources
Contingent Resources are those quantities of petroleum which are estimated, on a given date, to be potentially recoverable from known accumulations, but which are not currently considered to be commercially recoverable.
It is recognized that some ambiguity may exist between the definitions of contingent resources and unproved reserves. This is a reflection of variations in current industry practice. It is recommended that if the degree of commitment is not such that the accumulation is expected to be developed and placed on production within a reasonable timeframe, the estimated recoverable volumes for the accumulation be classified as contingent resources.
Contingent Resources may include, for example, accumulations for which there is currently no viable market, or where commercial recovery is dependent on the development of new technology, or where evaluation of the accumulation is still at an early stage."
https://www.spe.org/en/industry/petroleum-resources-classification-system-definitions/
https://netherlandsewell.com/resources/
88 Energy net resources have been calculated using a 75.227% working interest and a 16.5% royalty that may change.
09:09
I doubt that you will get much more than what has already been disclosed in ;
https://clients3.weblink.com.au/pdf/88E/02709376.pdf page 9
https://clients3.weblink.com.au/pdf/88E/02733682.pdf page 3
Bex w.i. is ~25% project Phoenix & Icewine West.
30 days from 31/10 so we will know early December I guess.
14:57 (1/11)
Agreed, lets ensure that flow test at Hickory-1 is done properly.
Been aware of the potential issue with Bex since issue of half yearly report and actually hinted at previously, so this is a long running issue it seems.
09:58
I think you hit the nail on the head, nothing has been confirmed yet depite the announcements title :-)
Still quite mild in Alaska but projected to get much colder by w/e.
https://www.timeanddate.com/weather/usa/prudhoe-bay
18:33 25/10
May not always be so simple as upslope good, downdip bad :-)
"Located up the slope of a dipping plane or surface. In a dipping (not flat-lying) hydrocarbon reservoir that contains gas, oil and water, the gas is updip, the gas-oil contact is downdip from the gas, and the oil-water contact is still farther downdip."
https://glossary.slb.com/Terms/u/updip.aspx
Gas can be a problem if no opportunity to sell or limited capacity to reinject.
We will know more next working season.
14:49 25/10
Phron appreciate what you are trying to achieve, would comment;
resources
Upper SFS yet to confirmed so potential resources currently understated.
In any case would use the best (2U) rather than the mean which is not an industry recognised calculation.
Porosity
figures you give are the Best, in this instance it might be better to quote the average (9.5-10.5%) as that may be closer to the actuality across the whole play.
Of course its also abour permeability and if the data on the Codell analogue is correct then it appears that we are in the window to potenttially produce.
Number of shares ~22.1B shares.
So many factors the only proof will be once the flow test is completed.
Interesting article on Santos/Repsol jv on the Nanushuk, pretty eye watering $ to get into production, 100 miles of gas, water & oil pipelines will be a huge chunk of that.
https://www.petroleumnews.com/pntruncate/149702669.shtml
Https://www.reuters.com/world/uk/lse-says-investigating-incident-some-shares-not-trading-2023-10-19/
Https://www.reuters.com/world/uk/lse-says-investigating-incident-some-shares-not-trading-2023-10-19/
You could also take into account C'boe markets ~19M trades :-)
When comparing ASX & Cboe to AIM & OTC, you need to take into account that the former are "matched" markets there being no market makers BUYING & SELLING (and reporting both).
Trades (the buy & sell) are reported just once down under.
View on where we may be on the "small holdings sale".
https://hotcopper.com.au/threads/ann-small-holding-share-sale-facility-update.7579793/page-49?post_id=70293467
Interesting view
https://www.petroleumnews.com/pntruncate/825147442.shtml
https://www.petroleumnews.com/
Interesting view
https://www.petroleumnews.com/pntruncate/825147442.shtml
https://www.petroleumnews.com/
-9 deg C
Thats more like it!
https://www.timeanddate.com/weather/usa/prudhoe-bay
19:58
The share "closed" at 0.35p last night and that then became our benchmark for today.
I can only assume you were looking at Google (or similar) which quotes last trade and not midprice hence the "drop".
Possibly the rise of the "no commission" deals has meant that small packets of shares at full Ask or Bid are increasingly common (deals at 12:20 today), otherwise the spread seems quite tight by our standards.
Net result seems to be a static SP.