twib This will take time , it's not a get rich quick punt and how will my posting make a difference when there are 8 billion shares. The only people ramping this stock now want newbies to buy stock so they can sell.
This will now take time , plenty of time . No big moves here until this mine becomes profitable. Safe jurisdiction = high wages and mine costs which has plagued this company for years.
8 billion shares to shift , lets remember this is still classed as a loss making mine , plenty of time to buy lower than today's SP. Funny how all the rampers have gone quite , time to let the traders sell out and pick up stock around 0.23p IMO
The recently tested well LB-1, as yet not on stream, will be connected and placed into production before year end. Likewise the new well EVN-x1 is currently off-line having a pump fitted. And yet more production, let this sink in folks.
Likewise the new well EVN-x1 is currently off-line having a pump fitted. President will monitor the results from that well in due course with a view to drilling shallow appraisal and production gas wells in the Las Bases field in 2021. Current cost projections per well, including artificial stimulation are around US$1 million.
So it will cost $1 million to get 350 boepd from these wells, think we might get our 5000boepd in 2021 with ease.
"In the meantime, as previously announced, we are looking to materially increase our gas production around the end November bringing on line two/three new contributors, also putting back on line certain oil wells in Rio Negro which have been out of commission for several months requiring repair". Looking forward to this.
RE: Yes more good news this morning it all helps to26 Nov 2020 07:49
PPC's Reserves are going to look impressive at year end , if you have been following these last few months drilling news. I think that has more impact than people give credit to." The cost of the workover is estimated on budget at a modest US$350,000 and the well will be placed on production before year end." not bad for 120 boepd. UKOG would like some of that i would imagine.
And yet more production , although not big numbers at this stage "it will make a positive addition to President's end of year reserves." I think we get another RNS next week that will make an impact.