Interesting week ahead?10 May 2020 22:15
Let's hope that the T&T Government are true to their word of easing lockdown on the 14th, to allow movement of kit around the island.
It was interesting to watch the SP in Canada on Friday, which rose nicely during the day to a peak at 59 cents (34 pence), only to be pulled back down towards the close at 56 cents (32.4 pence). I was surprised by how tiny the day's trading was, only 396,576 shares traded all day.
Two potential bits of activity then, this week.
1. Retrieval of the downhole data logs from Cascadura, although I don't think that they will declare this until the results have been analysed, which will take a week or more.
2. Mobilise the drilling rig to Chinook and set up ready for the drill. I think that a big bit of kit like this probably needs all sorts of traffic planning, because it must be relatively large for the road infrastructure. Having said that, over recent weeks there has been beggar all to do other than to plan, so we may be surprised by how quickly they get going. Let's not forget that the Government is our partner via Heritage oil, and they are as keen as anyone to get the oil and gas moving, so perhaps we will get a fasttrack on this. As an aside, I was interested that Columbus Energy was seemingly able to continue with its drill during the lockdown, but once again Heritage stands to profit, so it was important to keep going with the drill for technical reasons, obvs.
So, in short, there should be loads happening at the end of the week, but there may be radio silence.
We are however a week closer to the spud announcement, which I hope will be before the end of the month, but time will tell.
Let's hope that things move apace, and we get some positive news soon.
GLA, I think that this week is last chance to get in at a cheap price, I for one will be adding, albeit only a few thousand, I am already in relatively heavily, even to the extent of selling much of my RRE position. Phew!
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