Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
Even if their is a hiatus for 3D, it will happen once the rains clear. Depends if they can continue with the land clearing while the rain season is here. The tracks for the vibroseis machines will need to be made. Patience....
If Q3 is target for Drill then would expect the shooting to take a couple of months which takes us up to end of April early May. Evaluation of the data which should be a further couple of months which takes us till end of June early July. They should have confirmed long lead items by this point. If you factor in 2 months slip on the above then September spud is entirely possible. But we should accept that Q4 spud is always a possibility and traders etc will take advantage of the slips.
You could argue that the grunt work is already underway, there are visual signs of clearings being made for placement of nodes and also temporary tracks that the Vibroseis trucks can use. The capture will be the relatively quick bit of the process.
https://apps.sentinel-hub.com/sentinel-playground/?source=S2&lat=-10.454367856656503&lng=40.03164768218994&zoom=15&preset=1-NATURAL-COLOR&layers=B01,B02,B03&maxcc=97&gain=1.0&gamma=1.0&time=2021-08-01%7C2022-02-01&atmFilter=&showDates=false
This will take you straight to nt 1 and nt 2
https://apps.sentinel-hub.com/sentinel-playground/?source=S2&lat=-10.457912883218585&lng=39.99195098876953&zoom=15&preset=1-NATURAL-COLOR&layers=B01,B02,B03&maxcc=97&gain=1.0&gamma=1.0&time=2021-08-01%7C2022-02-01&atmFilter=&showDates=false
This is where ch 1 is planned
Depends if they have the money to bring it back online really. There is a risk that any work done on the well wont be successful. I would not want to see a placing for any work at the present time, the lower risk strategy is to wait for 3D and CH-1 well which should significantly increase MCAP and then raise funds .
Here is the trade, it was declared later in the day https://ibb.co/3sL0xyJ
Regardless of this trade, its been soaked up and appetite is still here and excitement is building.
Difficult to answer that unfortunately. Weather has been on their side until this week so good progress should have been made. We might get an interim report showing what has been found around the proposed CH-1 drill site. If they want to expediate matters, once the CH-1 location is finalized the long lead items should be en route and they can continue the seismic campaign while the CH-1 is drilled.
We dont know how much it will cost to commercialise the CHAR find though. They may find they have to give up some of that interest to pay to get gas to market. So I think we could well hit between 2/3p during the drill of CH-1. Does depend also on what the 3D shows up prior. Remember this hit 1.6 on farm out completion news alone and the current sp only values it on the carried value of the 3D seismic and drills. Gas found so far has no value attributed to the company or the licences the company currently holds. Take another example, HE1 currently valued at around 50m... based on what, no successful drill thus far and no income. Shows how out of whack valuations can be.