Member Info for danawinner

I can understand that view, and fear that you may be right.
Perhaps TXP are 'encouraging' the third party assessor to drag their heels on reporting until Thursday, which would be contrary to the AIM rules to report any major news as soon as possible.
I believe that Paul and the Board are open and transparent and are likely to report sooner than that, and will be disappointed if they hold back the news, but your guess is as good as mine.
When setting up the Thursday webinar, I would have thought that it was the 'worst case scenario' as a backstop date, and would hope to release the news sooner than that.
Canada had a nice close at 73 cents or 43 pence so we should see some positivity whether we get news, or not.
We shall see at 7 am today, tomorrow, Thursday.............
GLA

Yes Canada doing nicely. There was a 50,000 sell an hour ago which will be late reported, and pulled it back a cent.
Even so, we are North of 42 pence, a good starting point for an RNS tomorrow.
I will be gutted if we have to wait much longer.

which follows the usual pattern of announcing first on the LSE RNS system.
There is a faint possibility that they could release new at 17.40 ET, after the TSX market has closed, but I doubt it.
Ah well, time to go and do a bit of hedging and harvesting the lawn- enough displacement activity for one day.
It will be interesting to see if there is any appreciable movement on the TSX today, I think that it will remain quiet unless there is a leak. We shall see.
Enjoy the stunning weather. BBQ for three tonight. Me and the dogs.

Jayque, I recall that they had to mothball a couple of plants due to lack of feedstock.
The cost of ammonia and methanol production is almost entirely dependent on the cost of feedstock, which is why the ICI plant at Billingham - then the largest in the world - closed in the late 1980's when the fixed price North Sea contract at 6.5 pence per therm came to an end after 25 years.
I think that the T&T Government may very well cross-subsidise the gas price to Chemical Producers with their Heritage 20% share, as the economic benefit and added value may make it worthwhile, we shall see.
The most important thing is that our production is very significant.
It is interesting too see that in press releases that Heritage Oil likes to give the impression that they are in charge and that TXP is a pawn in their empire, whereas the 20% is effectively an extra tax on companies as a result of a Government monopoly on granting permits.

Jayque,
I think that it is all speculation at this stage, and because reserves figures are key to Net Asset Values in the Company's Report and Accounts, they are conservative by definition, as third party valuers don't want to be sued if production doesn't go as anticipated.
After it has been producing for 6 to 12 months, they may very well revise them upwards, but not at this stage imho.
As for life expectation, that is getting into experts' territory, Carapal Ridge has exceeded all expectations, and hope that we will too - get your crystal ball out.
Sankeys figure of 50 pence represents about 18 months' production which is conservative to the right of Attila the Hun, but he may be right, you can never tell what the market is going to do.
RRE share price of £10 versus £23 cash in the bank per share makes no sense either.
It's the market, innit?

Sankeys, I think that a Years Purchase of 5 is very conservative, I haven't got my copy of Parry's with me, but would think that it's an internal rate of return of about 20% or so, depending on how long you think it will produce for.
Carapal Ridge is still going 30 years on.

Good point Jayque, but I reasoned that there is currently a significant premium on Gas in T&T to the US price, which should offset the pipeline costs, but it is all speculation at this stage.
Yes, the other producing assets and Coho 1 are worth say 50 pence per share, so it is all looking pretty good really.
Then there is the potential of Chinook which may be 3 or 4 times bigger, plus another 10 or 11 targets that Paul mentioned.
All in all, it's looking pretty exciting to me, I hope that the market begins to realise the true significance of what we are sitting on here.

Lexion, I prefer to look at it on a Discounted Cash Flow basis.
Stage two flow testing supports an initial production range between 7,750 and 9,700 barrels of oil equivalent per day ("boe/d"), including an estimated 40 to 50 million cubic feet per day ("MMcf/d") of natural gas and an estimated 1,100 to 1,400 barrels per day ("bbls/d") of natural gas liquids, significantly exceeding pre-drill expectations.
The second stage of production testing commenced on March 8, 2020 and achieved a peak flowback rate of 5,760 boe/d, including 29.4 MMcf/d of natural gas and 865 bbls/d of natural gas liquids.

We are going to have two producing drills here, with potential for a deeper find of more oil beneath the existing discovery.

Rather than just doubling the figures, I am going for 150% of one well to err on the safe side, even though max drawdown had negligible pressure drop.

Gas ay 45 Mmcf/day x 1.5 = 67.5 Mmcf/d at say $3,000 per Mm = $202,500 per day no SPT
Oil condensates 1,250 bpd x 1.5 = 1,875 bopd at say $35 (we may get a premium) = $65,625 per day
Total = $268,125 per day with low prices. We get 80% = $214,500 per day, in a low price environment.
Let's knock off $14,500 per day production costs so $200,000 per day x 365 = $73,000,000 per annum.
No, let's be really conservative and call it $65 million per annum from Cascadura.
This has to be worth a minimum of 5 x which equals $325 million, and if we hit a bigger one with Chinook then 3 x that.
That is what is known as a 'Wall of cash'. $325,000,000 divided by 183 million shares = $1.8 usd per share = £1.50 per share.

Please feel free to refute my numbers, these are for discussion purposes, and only for Cascadura.
WOW. That's why I can't sleep.

or a Brandy to stop the fingers from shaking.

For those that are unfamiliar with the Canadian RNS system it is called Sedar.
Here is the link
https://www.sedar.com/FindCompanyDocuments.do
You have to specify the dates you are searching or you get the last year's worth in no particular order.

Jayque you are right, but it cannot be done through the London RNS service as it is closed.
Then there is the issue of getting it approved when the Nomads are on a Bank Holiday. I realise that they work 24/7 but RNSs can't go out until everyone is happy with them, which gives a degree of flexibility!

when I hope that we will be congratulating ourselves for being amazing investors.
I am quite prepared for Paul to release the news later today on the TSX if he prefers, but that;s up to him.
Tick follows tock..............

Good morning all, two more lack of sleeps to go!
I was trying to find info on T&T natural gas prices and found an article that may be of interest.
https://oxfordbusinessgroup.com/overview/firing-new-oil-and-gas-discoveries-and-increased-investment-support-recovery-hydrocarbons-industry
It won't change our share price, but it may help to fill a few minutes until we get the 'Golden RNS'.

Sorry, Photographer, I forgot to ask about 'shooting weddings'. They sound like fun, is it a combination of a shooting weekend and a wedding, or is it something a little more macabre?

Shellguy, it's great to know that we have strong Norwegian investors, it's a country that I have visited many times, the first time was in 1966 when it was a little undeveloped. We drove on dirt tracks all the way up to the North Cape. Lots of fishing and mosquitoes. I prefer the Hurtigruten these days.
As you are in Norway, and we all want to get the price up, are the North offices anywhere near you? I think that you need to watch 'Where Eagles dare'.

First, increase the asset value to way more than £1 per share - hopefully, this has been done.
Second, generate huge interest in the share, by being top riser.
Third, encourage the whole market to sit tight on their shares and not part with any.
Fourth, destroy all communications links for those that may be tempted to sell.
Simples.
PS Does anyone here live in Norway?

Cheltenham is also fine for me, a quick drive M^ and M5.
May I suggest The Retreat in Suffolk Parade, Mike and Lella have been friends for 40 years.
Great food and good wine. Perfect. Not too bad a drive from London, either.
Of course, we could have a nationwide tour, to be fair to everyone.

I suppose that the oil sector is rather out of favour at the moment, but RRE seems to be performing in rather a disappointing manner.
I suppose that it's all about market sentiment, and the market perceives that nothing much is happening in here.
The corollary to that is that when news does surface, it will take off like a rocket.
It's all about timing, innit?

Let's not get overambitious here chaps!
It closed at 68 cents, dollars would be nice, but not for a while yet.
£ is currently 1.70 Canadian dollars.
68 cents = 40 pence exactly, which is parity on share price.

Hi Buysell, I spend most of my time in Cheshire these days but still have a base in Glasgow. It's a long way down to Cornwall - my sis lives in Exeter so have done the drive many a time. In order to organise, I suggest that you join the Facebook page Touchstone for investors. https://www.facebook.com/groups/2820907428133861