Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
16:26:29 41.50 164,798 Unknown* 40.50 42.00 68.39k
And this trade showing after close.
I'm still happy i will bag from here by year end and if oil export conditions improve during the year and a 4/5p div would be very well received.
Why would the SP go down regarding WFT when that news has been known to the market since last November and the stock has been kept artificially low during this period. I expect plenty of news under the heading of International growth opportunities, Linda has much to prove and they will need to show the market they will not be standing still .
"With the field currently producing at approximately 20,000 bopd limited by export capacity, the technical team has delayed starting the already installed electro-submersible pump ("ESP") on well 12H to gather data under natural flow conditions and to prevent production constraints on other wells;"
G_G_G If they were just standing still how come they have managed to pay off all the debt . I as you also stated thought the only real down side is the amount of oil they can get to market and that was affected by the historically low levels of the river last year.
" PetroTal's Q4 2022 oil production was approximately 954,400 barrels (10,374 bopd), reflective of constraints during much of October and November 2022 due to low river levels, and the river blockade. Once the river blockade was cleared, the Company was able to ramp production from 1,667 bopd to 20,301 bopd in just two days and subsequently produce an average of 20,766 bopd from December 15 to 31, 2022. PetroTal exited the year producing 23,709 bopd on December 31, 2022 and was able to fill a backlog of barges that were on standby nearby the field. Production in 2022 averaged 12,200 bopd, representing 36% growth over 2021's average of 8,966 bopd."
I was under the impression they were close to filling all the storage tanks because of the problems with barging and not the wells declining production rates.
"and would not result in an offer being made for the Company's shares but would represent new capital investment, at or around the share price at the time exclusivity was granted in November 2022"
So priced at around 8/10p , i would hope not 7p.
"Once the river blockade was cleared, the Company was able to ramp production from 1,667 bopd to 20,301 bopd in just two days and subsequently produce an average of 20,766 bopd from December 15 to 31, 2022."
WTF , that is some uplift in production.
Must remember , we are now approaching the high season, best time for a punt IMO.
Imagine HBR debt free and on the market looking for acquisitions in a market where few want to or can do deals. I think the junior market for O&G will slowly peter out as funding will dry up and only the big will survive. Plenty of small medium projects to make a killing on IMO.