I agree with Crusty on this one based on the past, there was no GSA in place when any of the wells were drilled, KN-1, NT-1, and NT-2 The GSA may well be in the process of negotiation but will be dependent on a successful CH-1 drill imo and unless the rig has already been booked and is ready to move to location and we just have not been told then March looks extremely unlikely.
So most likely news on 3D at least for the location (they could have processed a lot more since October) and rig update a week today.
Lets make it proper fun,
In the event that the pipeline is not fully operational by year end, I will expect you to eat RoJo, your hat, boots or other article of attire and post it on youtube !
No Drill no pipeline, drill then pipeline. It's only a short 35km spur after all, not like the 1,443 kilometres (897 mi) pipeline signed off today.
Agreed Alcapone, but there in lies the problem. We have no idea what is happening in the background and the AEX BOD appear, based on History to have a meeting once a month with the operator with Zero updates in-between.
Back to Mushroom mode till the end of the month
It is what it is, a pre earning small cap, non operator status with a $35 million carry to production and enough G&A cash till the end of 2024 along with a gas asset with significant potential upside & an operator prepared to spend $100's of millions who happens to be in the process of securing a total of 75% of that asset.
Maybe the Omani Zubair corp don't know what they are doing or maybe your looking for something else & this is the wrong BB for you?
Yep them the facts look it up RoJo, an employee of the Zubairs developed and sold the leading seismic software analysis tool on the market.
Looking forward to their analysis and results in 23 as are most shareholders I imagine (you are excused from the "most" of course, at least till perhaps hat eating time)
Well they have said they have all the 3D RoJo and the contractor also confirmed completion of the 3D back in October, so there is no real doubt about that. As per the interpretation, I am sure they have the necessary in house skills since one of the employees there developed & sold the leading seismic interpretation software that is widely used by the majors.
I have no idea how long such interpretation takes but I would expect some details in the new year.
Darn it and there I was thinking that they were interpreting 334 km2 of 3D data and that it was looking so good that the Zubairs decided to increase their stake in the asset to 75% before confirming the CH1 spud location...
Merry Christmas & looking forward to 23
Yep, been a very long wait whilst those in the know fought for control of an asset that has significant proven gas and a huge potential upside.
Seems most acknowledge that after all those years, finally the ownership and gov alignment post PSA looks nailed on for delivery in 2023 & with the Zubairs about to take control of 75% of the asset and thus supply 75% of the drilling and development costs, well in fact 100% of the costs till well over the first $140 million has been spent makes the carry & G&A cash to development looks attractive here imo.
Not at next support level yet, take some when it does or wait to see if it hits the lower support channel of 16p?
https://twitter.com/angusenergyplc/status/1603779964268335109
https://twitter.com/angusenergyplc/status/1603683977558212609
Agreed Crusty, although I think the two biggest risks to Q1 are firstly as you said drill availability and I will add reliability as the current drill the rig is being used for is behind schedule and has had to have multiple repairs. Additionally the weather in Rukwa Jan to April has high levels of rain and it's a remote region with poor infrastructure so weather dependent for Q1.
Danny boy is just making carp up again Frank, the smell emanating from that direction is very clear. I agree HE1 looks like a good buy right now , it gave a very good return last time round (multi bagged) in the run up to the drill. Not sure how high it will get this time but certainly a lot higher than 5p before drill results and probably at least a bag.