Member Info for bynari

Press Release
Toscana Energy Provides Update on Continuous Disclosure Filings
Published: May 14, 2020, at 9:30 a.m. ET
9 hours ago
CALGARY, Alberta, May 14, 2020 (GLOBE NEWSWIRE via COMTEX) -- Toscana Energy Income Corporation ("Toscana" or the "Corporation") (TSX: TEI) announces that it intends to rely on exemptive relief granted by the Canadian securities regulatory authorities that allows issuers to delay the filing of its interim financial report for the interim period ended March 31, 2020 as required by section 4.4 of National Instrument 51-102 and related management's discussion & analysis as required by subsection 5.1(2) of National Instrument 51-102 (collectively, the "Q1 Filings") and Toscana anticipates that the Q1 Filings will be available for filing on or before June 29, 2020. Until such time as these filings are made, Toscana's management and other insiders are subject to a trading blackout that reflects the principles contained in section 9 of National Policy 11-207 - Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

Other than as previously announced by Toscana on March 30, 2020 of entering into an option agreement with i3 Energy plc, and the acquisition by i3 Energy plc of Toscana's senior bank debt and subordinated note, there have been no material business developments since the date of Toscana's audited consolidated financial statements for the years ended December 31, 2019 and 2018 that were filed on March 30, 2020, a copy of which is available on SEDAR at www.sedar.com.

In light of the COVID-19 public health emergency and related restrictions on gatherings, Toscana intends to delay holding its annual general meeting of shareholders until a later date in 2020. Toscana also intends to rely on the temporary blanket relief provided by the Canadian Securities Administrators (including the exemptive relief contained in Alberta Securities Commission Blanket Order 51-518 - Temporary Exemptions from Certain Requirements to File or Send Securityholder Materials) to postpone the filing of its executive compensation disclosure required under applicable securities laws until such time as it is filed and delivered to shareholders as part of Toscana's information circular relating to its 2020 annual general meeting of shareholders.
link;
https://tinyurl.com/yb5jat3j

correct the share price 23rd Aug 2019 on page 362 in the post below the share price of i3e was 52.3p at the time...

Hard to buy here 23 Aug '19
Been trying to add for the last 10 mins but can’t get a quote, very frustrating. Can get a quote to sell 75k shares at 52.3p though, so clearly the mm’s are happy to mop up any sales but don’t want to sell pi’s any stock at these levels.
from last year

(a post on the board last year & so nothing changes except the sp )

worth a look if you missed it

Majid Shafiq and Graham Heath speak to Andrew Scott following strategic acquisition - picking up producing assets in Canada.
https://tinyurl.com/ybmsjt2h

i3Energy shares In Issue

As at 28/02/20, the number of shares in issue was 107,719,400

number of shares not in public hands 18,312,298...approx 17%

Free float 89,407,102

What’s driving the market?
Early gains in thinly traded index futures were being partly attributed to a report from health-care media site Stat News that indicated promising results from therapeutics used to treat COVID-19, the disease derived from the novel strain of coronavirus that was first identified in Wuhan, China, and has claimed more than 140,000 lives across the globe.

University of Chicago Medicine researchers said they saw “rapid recoveries” in 125 COVID-19 patients taking Gilead Sciences Inc.’s GILD, +2.55% experimental drug remdesivir as part of a clinical trial, according to a Thursday afternoon report.

The results have grabbed the attention of Wall Street because there are no vaccines for the potentially fatal illness, and any signs of progress toward a treatment have the potential to elicit a bit of euphoria from investors who have been rocked by the economic shock that has resulted from efforts to slow down the spread of the contagion.
https://tinyurl.com/y7ee68wc

Pantheon Resources Makes Alaska North Slope Discovery

|Rigzone Staff|Monday, April 13, 2020

Pantheon Resources Makes Alaska North Slope 1.8 billion Discovery
The Talitha prospect could be the latest in a series of key North Slope oil discoveries. (Photo: The Alkaid well in Alaska)
London-based Pantheon Resources PLC has made a discovery of potentially 1.8 billion barrels in Alaska’s North Slope region, based on online reports. The deposit is along the Dalton Highway and Trans-Alaska Pipeline System corridor, according to The Alaska Journal of Commerce.

The discovery was made after the company made an updated evaluation of an old exploration well and used information collected from recent nearby drilling, the Journal reported; management added that the Talitha prospect could be the latest in a series of significant North Slope oil discoveries within the past five years, as it has the potential to produce 500 million barrels of oil with peak production approaching 90,000 bpd.

On the Alaska North Slope, Pantheon holds a 90% to 100% working interest in all its projects. In March 2019 Pantheon announced its Alkaid well to be a discovery in the Brookian zone of interest, following successful testing that exceeded expectations.

In East Texas, Pantheon holds a 55.1% to 75% working interest in four prospects in Tyler and Polk Counties, which hold the Eagle Ford, Austin Chalk, Navarro and Wilcox formations.

Pantheon uses strategic drilling and farm-outs to prove up existing assets. Given its working interest positions in both East Texas and Alaska, it has the capacity to use farm outs to fund or subsidize future operations, and to work with strategic partners, according to the company.

Currently, Pantheon is engaged in a farmout process for its Alaskan assets. A physical data room has been established in Houston to allow future partners to perform due diligence ahead of potential investment into the project.
Rigzone source link
https://tinyurl.com/txnjs5m

interesting view below on ADVFN...

The following is what I've picked up from various sources. Please correct if you have better information.
The headline cuts:
OPEC+ 9.7m (from Oct 2018 levels)
SA/UAE/Kuwait voluntary rollback of April surge: 2.8m
G20 3.7m
Total: 16.2m - also add on SPR purchasing which is around 3M bopd.

If you add the SPR purchasing on to the headline cuts you get the 20M "supply to general market" reduction figure.

US, India, China......all buying steadily to fill their SPR's.

Sat 11th April 2020

G20 backs largest oil supply agreement in history

US and others throw weight behind Opec and Russia’s production cuts

Confirmation of the deal was delayed by Mexico’s refusal to make large cuts to its own oil production, defying Saudi Arabia’s push to have all countries in the Opec+ alliance cut an equal share. The US, Russia and Saudi Arabia, the world’s top three oil producers, all endorsed the agreement to cut production, with Donald Trump, US president, saying that the US would help Mexico “pick up some of the slack” to smooth the deal’s progress.
The communique from the G20 meeting said members would “commit to take all the necessary and immediate measures to ensure energy market stability”. In a reference to the Opec deal, the communique “recognise[d] the commitment of some producers to stabilise energy markets”.
Brent crude oil, the oil benchmark, initially rallied on Thursday before dropping almost 15 per cent from its peak, back to near $30 a barrel.
It traded at $70 a barrel as recently as January, before collapsing to near $20 at the start of this month. Markets were closed on Friday for Easter.
But an oil market in which the world’s most powerful energy producers are co-ordinating, at least to an extent, is widely seen as more stable than one left in freefall.
“Even if poorly implemented, the agreement is substantial, and will make a difference to the market,” said Ann-Louise Hittle at Wood Mackenzie.

Additional reporting by Jude Webber in Mexico City and Demetri Sevastopulo in Washington DC
The Financial Times Limited 2020. All rights reserved.
Oil & Gas industry

https://www.cnbc.com/2020/04/09/oil-jumps-ahead-of-make-or-break-opec-meeting.html

Thursday 9th April
Opec Meeting Today
OPEC+ parties do not already have an agreement in place, they would have just called off the meeting, he told MarketWatch. The video conference is scheduled to begin Thursday at 1400 GMT, or 10 am Eastern time, according to Reuters.
source link
https://tinyurl.com/wc4tpdb

Global Oil Deal in Sight as Russia Signals Readiness to Cut (1)
April 9, 2020, 4:50 AM

U.S. petroleum demand plunges to lowest in at least 30 years
Russia insists that the U.S. must pledge real cuts for a deal
An unprecedented accord between the world’s largest oil producers to ratchet back production and rescue crude markets from a catastrophic pandemic-driven collapse moved closer within reach after Russia signaled it’s ready to make cuts.

Moscow, whose grudge against U.S. shale is arguably the biggest obstacle for a deal, said Wednesday it’s willing to reduce output by 1.6 million barrels a day, or roughly 15%. Oil prices surged in New York.
https://tinyurl.com/rs8rozq

Alaska North Slope
ExxonMobil’s Point Thomson reservoir
The Point Thomson reservoir holds an estimated 8 trillion cubic feet of natural gas and 200 million barrels of natural gas condensate, a high-quality hydrocarbon similar to kerosene or diesel. Point Thomson gas represents about 25 percent of known gas resources on the North Slope.

ExxonMobil brought Point Thomson online in April 2016 with production facilities designed to produce and reinject (cycle) 200 million cubic feet per day of gas and produce up to 10,000 barrels per day of natural gas condensate. The condensate is transported by a 22-mile pipeline which connects into the Trans Alaska Pipeline System.<
This phase of Point Thomson development establishes critical infrastructure and provides the experience and learning for current and future Point Thomson development. Lessons gained from this high-pressure gas condensate cycling project on the North Slope will be key to helping unlock Point Thomson’s potential.

https://corporate.exxonmobil.com/en/Locations/United-States/Alaska/ExxonMobil-Point-Thomson-reservoir

88 Energy’s Charlie 1 well looking good

Petroleum News 3rd April 2020

Australia independent 88 Energy said March 31 that its Charlie 1 appraisal well reached total depth of 11,112 feet in the Kuparuk formation on March 30. The well, in the company’s central North Slope Icewine project, is operated by 88E subsidiary Accumulate Energy Alaska, which is run by geologist Erik Opstad, who has worked the Slope for more than 34 years.

Having drilled through and logged all seven targets, including the HRZ, 88E said logging while drilling results are “largely consistent” with BP’s 1991 Malguk 1 oil well.

With shows and elevated log response recorded over several horizons, the significance of the similarities and differences to Malguk 1 won’t be known until after wireline logging has been done and analysis completed.

Wireline logging is underway and will take about seven days. Flow testing is expected to conclude in April.

Charlie 1 was designed as a step out of Malguk 1, which encountered oil shows with elevated resistivity and mud gas readings over multiple horizons during drilling but was not tested due to complications resulting in a lack of time before the winter drilling season closed. It was drilled using 2D seismic, which was inadequate for determining the extent of any of the targets encountered, whereas Charlie 1 was drilled using 2018 3D seismic.

Per 88 Energy, the gross mean prospective resource across the seven stacked targets is 1.6 billion barrels of oil (480 million barrels net to 88E).

Petroleum News Alaska
https://tinyurl.com/vusmypl

I will finish it here, I have my view and you yours but don't come on here preaching you know more than most.... grow up pal!

Rabito79 your "I know more about 88e than a lot on this board" is out of order mate...a lot of knowledgable posters on here also same as ADVFN Pantheon board & Scot126 and you Rabito79 all think they are experts too in oil exploration..not so
stop telling lies.

Further detailed explanation on HRZ at 55 mins into the presentation
55 mins into for HRZ
https://tinyurl.com/vk3hykz

flexmw if you listen into London presentation D Wall explains here

HRZ explained by Dave Wall at 36 mins into talk
https://tinyurl.com/vk3hykz

Houston results around June/July ...D Wall

The answer I got it could have been a technology issue but certainly, by then BP could deliver long horizontal wells, even if they weren't the norm. On the contrary, the seismic capabilities and the remote visualisation of the subsurface has advanced with the processing capabilities of computers, so this is incomparably better than in the 1990s. Maybe they just couldn't see enough potential?