Member Info for dai2belts

@Scott the lead is Dermot O'Keeffe - Drilling Manager - Noble Helium,

I just listened to some of the Q&A...

Says rig is still be worked on, drilling 2 wells, keeping the rig ?

Cost of well about $7m, full DST about $4m, so performing other tests, MDT & Mini DST.. Super confident but $4m confident

Not so long ago contracting a rig was straight forward, now there is extra paper work, and rig still under maintenance..

Sounds like a delay incoming, maybe they are renegotiating not having that $20m?

he talks about that experienced drilling lead, its one of Nobles team. not the operator

All confusing,

if they can do 2 wells for $13.5, how can they pay to keep the rig and run the company at he1s cash burn rate

Bought JSE yesterday and the price continues to drift, and QFI bounce,

EOG something about that 1.5p level

Link to Noble interview on He1 BB, no need t o register

PRD, is drilling at the moment, possibly an update at TD, which could be a derisk point

JSE, has dropped +15% to 40p after announcing a 45p placing, volumes high but I doubt its those placing shares being sold. And I doubt its the PI as 40p offers a good price to average down considering the share buyback was around 69p

@KevR, Seem some mixed comments on the BB coming from that interview, ?

So,

The rig, surely its not still under maintenance when its should be ready to ship ?

The raise, originally the JV was to raise 20M to drill 2 wells, they raised $13M in 2 tranches, ..while the ASX update said the funds would cover 1 well and long lead items there are Posters saying its 2 wells ??

What concerns me is tranche 2 is not available until august ....

Its seems unless your buying the lows, its best to be in with the herd following the trend

JSE, last Nov commented on Montara being within costs

"The Company currently estimates the cost incurred in 2022 in respect of the additional inspection and repair activities on the FPSO to be US$4 million, consistent with the initial US$2-4 million estimate published on 12 August 2022."

Then this week its part reason how the have gone from no debt, $161M in cash and into debt..

In that November update, they omitted the true impact...

The Company's largest shareholder, is Tyrus Capital S.A.M.

Obviously making money is their game, and with inside info they know when to buy and sell, and how to play every rule..

As I dont see the institutes losing out on this placement I managed to bring my average down to just below 51p, from 68p..

I think that has a fair chance of break even, as I guess the institutes will be looking for 10-20% profit on 45p..

Not saying they done those things, just they are legal parts of an institutes tool kit..

Lol, I was'nt suggesting you said they would lose out, I was implying they have their ways..

Share price very quickly back to 2020 levels, thats created a lot of up side for their 45p shares,..

All the selling, and suddenly a $85M raise, Smart money sells high and buys low...

Share loaning, shorting, forward selling they have their ways

Montara, using it has part of the reason for going into Net debt, looks like they omitted the impact ?

17 Nov 2022 07:00

The Company currently estimates the cost incurred in 2022 in respect of the additional inspection and repair activities on the FPSO to be US$4 million, consistent with the initial US$2-4 million estimate published on 12 August 2022.

Thats good, it took me a few reads to get to that understanding,

You will have to excuse my double postings, they have randomly appeared since the sites upgrade, not worked out what triggers them yet..

Not sure they will have to buy up that $8m Open Offer..

"Tyrus, ......is underwriting the proceeds of the Proposed Financing through the provision of debt facilities"

I believe that $8m will become part of the facility, incurring 5% annual interest on undrawn amounts, and 15% drawn..

Thats if I have read it right..

I doubt they will lose out,

Not sure they will have to buy up that $8m Open Offer..

"Tyrus, ......is underwriting the proceeds of the Proposed Financing through the provision of debt facilities"

I believe that $8m will become part of the facility, incurring 5% annual interest on undrawn amounts, and 15% drawn..

Thats if I have read it right..

I doubt they will lose out,

Just reading up on Mechanical well conditions...

https://wiki.aapg.org/Production_problems#Mechanical_failures..

So much bad luck with IOG, is this down to luck, taking short cuts or bad drilling crew or a mix ?

But if they were drilling a second well in the same formation, why would they expect double the flow rate?

I would have thought pressure would be much the same throughout, so production would be similar ???

I assume gross production rate includes unwanted water?

Blythe H1 production operations

· The current >gross unconstrained< H1 production rate is approximately 15.5 mmscf/d

Financial planning too, just like JSE who come cap in hand after a share buy-back program, being debt free and having loads of money in the bank...

Might be a quick profit there as nearly 10% to get back to placing price 45p,... and I expect those institutes that took part will want profit too... so +50p soon, with their cunning, maybe

4.5M this morning at 1.5p(£67.5K), and a 4M @1.5p(£60k) end of play yesterday, and that 6M late Friday @1.46p(87.6K)

Not on Monday though, where bid was at or above 1.5p ...

Pulling out early lol.

Suspected mechanical blockage, Mmmmmm, mechanical ??

I wonder how many more blips that will do, if you can guess the low

IOG, bad news, looking at the price, was there water or low rate...

Great timing on your exit..

PRD, still down on spud news, just above placing price, best set a sell order in case of a bounce, and prepare to sell at a loss, or gamble on TD hype...

For a while I was able to sell for more than the buy , but by coincidence only for what I was holding.

I bought more to maximize the gain but was offered less..

So I guess level 2 could give you that insight....

EOG, I finally got a sell quote, Mmmmm, something odd there as 1.485p so still a good offer looking at the chart if you bought at 1.1p... would have thought it would be much lower..

People probably not buying because its difficult to sell, and difficult selling as nobody is buying

MMMMmm, the instant I bought a 1.299m volume candle appeared on the chart, which suggest an error but there is another trade in the following minute, same 5 min period.. ??

Not sure why its dropped so much, 41.7 buy, placing at 45p..

looks like $85M funding, raising $50m, plus a $35m facility which will be reduced by any sum raised over $50m..

that $35m pays 5% on undrawn amounts, nice for somebody..

But if open offer taken up is likely to be closer to $25-27m

Chart showing 1m vol in 5 minute candles, but I am not seeing that listed in buys/sells, so you dont know its an error in the chart which I have only ever notice with JSE.. select 1h interval and the 1m at vol 12 to 12:05 disappears..

Yep still there, placing at 45p, 41.74p to buy at the moment...

Still reading the results of the placing..

shafted the PI, 1 for 30 open offer....