Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Can only hope so. Just can't understand why they didn't wait a few weeks.
Yep Barking, expect those Corallian holders couldn't believe their luck when S&S offered them the deal.
The timing of that offer was disgraceful IMO.
Thanks GP, very much appreciated.
Apologies if this question seems a bit simple, but would appreciate any input.........
When looking at the potential value of WN, those with industry knowledge were giving a value of proved oil in the ground around $10/barrel (give or take, think it varied between $6-$12) when oil was around $50/barrel.
If WN is proved up and commercial, will the value of oil in the ground increase in line with the current price, i.e. with current POO at $73/barrel, would we then get considerably more for proved reserves, i.e. $33/barrel?
I know there will be long term macro considerations etc. around this and the increase won't be $ for $, but looking for a general understanding about how much more valuable this might be if successful.
If the upside case as per current estimations is 283mmbbl and we can recover 20%, does that mean our value has gone from $560M to $1,680M for arguments sake simply on the back of POO increases.
Thanks
Thanks Manwell, appreciate it. Thought it might be referring to a potential technical issue, so all good!
Thanks Manwell, can you cast any light on the "tight hole" comment further down the thread you took the tweet from?
Gaffney, Cline & Associates to Prepare PEDL183 West Newton Competent Persons Report
10th May
Reabold, the investor in upstream oil and gas projects, is pleased to announce that Gaffney, Cline & Associates Limited, an international energy consultancy, has been appointed to prepare a Competent Person`s Report ("CPR") in respect of PEDL183 which include the West Newton discoveries, WNA-1, WNA-2 and WNB-1Z wells.
The CPR will be executed immediately following the imminent testing of the WNB-1Z and WNA-2 wells.
Accounts
No formal re-evaluation of the volumes of hydrocarbons with the West Newton field had been carried out following the drilling of the WNB-1Z well. It is anticipated that an independent CPR will be commissioned by the joint venture following the testing of the WNB-1Z and WNA-2 wells in the near future.
Stephen
IIRC in latest interview said the CPR was already underway?
According to the accounts:
"No formal re-evaluation of the volumes of hydrocarbons with the West Newton field had been carried out following the drilling of the WNB-1Z well. It is anticipated that an independent CPR will be commissioned by the joint venture following the testing of the WNB-1Z and WNA-2 wells in the near future."
I thought this had been commissioned and indeed according to Stephen on their last recording was actually underway (and due in July according to previous announcements).
Happy to be corrected.
Not sure it's nervous folk, probably just the lucky Corallian holders cashing in on the fabulous gift they were given at our cost.
Yep, very depressing & totally unnecessary.
No expectations of a bounce on the updated CPR Uggy?
Was stated that it is being prepared now & will be further informed by the EWT.
Interesting thought Rubey, maybe looking for read over to the other opportunities on the license?
(Was rather hoping it was Shell deciding whether just how many Billions they were going to pay......)
Many thanks Rambo, good to see the news flow starting. Seems pretty positive on the whole, although no stated timescale for the B2 drill.
Anyone know what Stephen was referring to at the end "there are a few other elements in this play that are being worked on by other companies"
Sachin always looks like he could do with a couple of cups of strong coffee & some Alka-seltzer
Still can't understand the endless selling at this stage.
On the plus side, looks like Persi has finally offloaded his entire holding with his 33p sell at 11:54 this a.m. :-)
archie, question of interpretation I guess. I only hold here & not UJO, but always feel DB seems more willing to give a bit more info/positivity in releases & interviews. He just seems to be more interested in outcomes for PIs our BOd seem more interested in IIs. I know there was an interview recorded in April circulating last week, but I think S&S have been very poor on the comms side of things in general.
David Bramhill, Executive Chairman of Union Jack, commented: "The planned testing programmes at the West Newton B and A sites are the next milestone events in determining the development potential of West Newton.
"The results to date continue to support the Board's belief that West Newton is a large-scale, conventional onshore hydrocarbon asset with potential offshore-sized reserves and resources in place.
Cheers NVG, appreciate the response.
Not directly comparable, but look what happened at SXX when a small co tried to take on a massive project, so I agree an early sale and banking the profit would be good. Still hoping for slightly more than 3.5p though :-)
NVG, would be interested in understanding your "2-5 times" upside rational.
Maybe I'm an eternal optimist, but if this goes well, I'd look at that as conservative (big IF as always).
"#WestNewton gas drill actually flowed circa 1,000bopd & wasn't reported due to a legal licence/nomad fear of protestor action i.e Set up as a gas drill....."
You would have thought/hoped there would have been more made of this than has been the case to date. Surely if BMD knew, then many others would have known as well and it would have been pretty hard to keep a lid on news like that. Not too long to wait for the truth, hopefully.
"Hopefully an RNS telling us what is going on."
Wouldn't that be a nice surprise.
Can't help but feel very let down by the management here. Prior to getting that big injection from II's at 0.9, they were pretty communicative, obviously because they needed the smaller PI's more. Now they pretty much don't give a stuff about us, but no doubt they are keeping their II buddies well informed. **** poor show.