Member Info for Chuggley

Is an rbl based on production?

I thought it was based on oil in the ground

Hopefully we don't need one and sufficient funds come from the jv

Not sure about 3000 bopd. But 2000 plus by year end.

Although I'm sure 3000 will happen soon after

In profit from 1300

Imo August will be around 1500

I don't see August being less than July

Between 40-45k imo

Don't forget we were seeing 50s in 2021 and as hi as 62k

No reason why when pressure is optimised these can't be surpassed

Indeed things change and influence price

But lets not forget the reason for that extreme low - world wide pandemic and no one driving or flying - imo unlikley to happen again and if it does i think we have more problems than making money on shares

Its far more likely USA are going to want to develop ho,e grown resources

With shares much is judgment with a little luck - i think on balance this is a pretty good share to be in especially if entering at these extremely low prices

As long as it results in a reduction in dilution as per the rns. Not sure anyone minds

Everyone is a winner

GGS should see this increase substantially

https://twitter.com/Chuggley1/status/1699700564844552508?t=MJcyjspxPkTpjPvWunNXKw&s=19

$5-8m a month.

I also find this interesting and perhaps telling

Currently we are in a close period and the BoD cant buy and from what I gather by not taking salary in cash but taking a bond (@4p) they are basically giving themselves 5m shares each - im "guessing" from that they imagine after they come out of close the sp will be much higher and the money would not buy then as many shares

Profitability is near 1700 with the current tether

In July, under budget

Next we hear production updates and projections

Up 30-40% imo

What next.... a JV?

https://twitter.com/Chuggley1/status/1697972201469690219?t=sT7JMoIPeNCat4EixKL3Qg&s=19

Jv I don't believe has anything to do with production figures increasing

Seperate projects

LOI was RNS only 4 weeks or so ago. So that's the jv news. It's almost done. That's why an LOI is signed. All dd has been done over the last year .... now final legalities. Average from loi to jv 43 days

GGS is installed. Last RNS confirmed . Now it needs to pressure up. Think we'll see that benefit during August and September

All looking extremely positive

News re jv any day. Probably early September imo

Now GGS is complete it goes up from here

https://twitter.com/Chuggley1/status/1696416260655898777?t=6kKgiuW7q4ZVqXR3vREppw&s=19

A while ago someone posted some research as to timescale between LOI & JV

The average was 43 days. Nearly there.... First week in September?

This was my tweet at the time this research was posted

https://twitter.com/Chuggley1/status/1692503533872992537?t=As_Dq5VA4g5KjMjNiKEGqg&s=19

100% worked buy

It was placed earlier this morning

If you know. You know

Take it being an average and looking at the various duration

Could be anytime in September.... but could just as easily be this week

Sounding like it's getting close. Ignore the sp game.

https://twitter.com/Chuggley1/status/1692503533872992537?t=1r8L2906jnBcgX4kn8EPGg&s=19

Lol to early. I mean oil floats on water? Not sure you'd get that in this situation

Am I correct that these aren't big caverns of oil. So would geology mean water floats on oil?