RE: Final days26 Jun 2021 11:08
Not really ramping at this stage , more enthusiastic towards where i think this stock will be trading in the next six months.
1. OIL....Puesto Guardian Concession, Salta Province, Argentina.It is anticipated that the seismic work will be awarded before the end of June with work to start during Q3 2021. Discussions are taking place with rig contractors. It is currently anticipated that drilling of the three wells will commence at or around end Q3 2021 subject to all appropriate permissions being in place.
2. ATOM...... It is expected that a further announcement relating to Atome will be made in June with progress being made on two diverse projects.
3. Treatment Plant. New treatment plant and infrastructure set to start first phase operations in Rio Negro by end June bringing immediate cost savings whth an estimated $4/boe reduction in operating costs.
5. More Gas Well's..... Possibility of new wells in the same originally pressured fault block as EV-1002 now being considered for later this year.
6. Waterflooding. Positive results from the secondary recovery pilot project in the main Puesto Flores field .Waterflooding if successful, enables greater levels of oil in mature fields to be produced which otherwise would be left in the ground. By so doing not only does it produce more of the 2P (proven and probable) oil reserves but mitigates the inevitable effect of natural decline in production from existing wells by softening the decline curve.
7. Later in H2, there is a planned 3D seismic data acquisition programme over a formerly prolific Canada Grande field within the Puesto Guardian Concession, Salta Province to find new well locations to target and drill the productive A6 sand there. An initial land survey by potential contractors is currently underway. The best wells in Canada Grande produced initially as much as 1,000 boepd from the clean A6 sands. If the data indicates commercially viable well locations, then it would be President's objective to drill in Canada Grande following on from the H2 drilling in Salta.
7. Paraguay farm-out signed....it is currently projected that drilling will commence in Delray during H1 2022. Further details on timing will be announced as and when it is available.