Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
As stated by Origin, " Specialist diagnostic equipment has been used to determine the extent to which these observed gas flows come from different fracture stimulation stages before or beyond a certain point in the well that was thought to be restricting the flow of gas across the full production zone. Between 5%-15% of gas flow are coming from the stages beyond this point with the majority of flows measured, between 85%-95%, coming from the first 200m section of the well.
The result from this section, which has been independently verified, can now reasonably be considered to represent the deliverability that could be achieved across the full production zone of this and further wells drilled and fracture stimulated in the same Velkerri shale formation. It suggests a normalised gas flow rate equivalent of between 5.2 and 5.8 million cubic feet per day (MMscf/d) per 1,000m of lateral."
I wonder why they didn't name the firm that did the independent evaluation, that info is pretty important in lending credibility to the evaluation.
hydro,
I would think POQ should keep an eyeball on those Sweetpea shares and have a pretty good understanding of were the Trustees stand with their liquidation. He definitely should put that out for investors to monitor.
Thanks Hydro.
Impossible to weed through trade vol and price action. So, I'll just ask if anyone has a strong sense of Sweet Pea's action in this breakout. Are they selling consistently, or is there no indication they are still offering up shares?
schlemiel, Was motoring through your post--feeling pretty good to see Origin's NR--and then they just had to insert this bit of WTF: "'While further work will be required in coming years to determine if the result can be reproduced on a larger scale..."
Honestly, what could possibly be their motivation to include that line of FUD? I could certainly see fodder for the camp that sees Origin buying FOG's position out and actively trying to cap FOG's share price (and here I was thinking they are just incompetent, not that they had a plan..... ).
Vegas,
I'm pretty much in the same position as you, and, if I weren't such a long hauler I'd probably add when this dips again after the initial the initial euphoria declines. But, I'll just content myself to sit and hope. Heck, if I were above water I'd probably sell into the euphoria when it starts to wain, but, as it is, I'll just sit and watch.
newto, I'd bet David Close penned "Similar to our experience in other unconventional shale basins in the US, the learnings and knowledge gained by the recent T2H well are playing a considerable role in improving drilling efficiencies and reducing costs."
Seriously, you know that Tambo's comment is directly kicking sand in Origin's face and calling them out as morons. I wonder if they are negotiating with Origin in a farm-out proposal and just pointing out to Origin that Origin's balance sheet woes is of their own making and they should step aside and professionals carry the water.
IT, This can't be right: "Similar to our experience in other unconventional shale basins in the US, the learnings and knowledge gained by the recent T2H well are playing a considerable role in improving drilling efficiencies and reducing costs."
This just can't be true, we have proof that the more you drill, the more expensive and slower your progress--I thought this was a rule in the OZ outback!
Hmm, to point out the obvious, we just sunk to a new 52wk low. I reckon that pretty much tells the story on how our crack team is performing in the field. Maybe Origin will initiate a new contest with a $10K cash prize to the best answer on how to complete a well.
"Thanks to former NRL player and now Head of Diversity & Inclusion at Rugby Australia, Casey Conway, for talking about his experience of coming out as an Indigenous athlete and the importance of creating inclusive workplaces on Wear it Purple Day today. Our people from around the country pledged to listen, learn and be supporters and allies for our LGBTIQA+ colleagues. We believe fostering a diverse workforce allows us to understand different perspectives and we’re a better business for it."
I fully understand diversity is important and acceptance of differences is key to harmony, but, how about some thought to profitability....?
Tambo's page 10 of presentation is a little snarky when they proclaim they are the most active driller and put up a chart showing poor Origin's feeble efforts....
To view the presentation, please visit:
https://abnnewswire.net/lnk/C58581KV
Long, Well honestly, the most informed investors are here on the Board, and other than Poods, none of us want to open our pocketbooks and average down. I'd say based on our reluctance to buy, that there is a low expectation for Origin to surprise to the upside. OTOH, we can only lose 6 cents, so there is that.....
There definitely needs to be a statement issued by POQ, as such a change could be very significant if FOG falls into the obliterated category.
Oleo, it would seem that SA is well worth courting for POQ, but, I suspect he is still smarting from the charges of bribery the previous admin saddled him with. Obviously, they wanted more, so being cash strapped he probably figures he doesn't have the resources to negotiate effectively.
Australian capital Canberra goes into snap lockdown
www.bbc.com/...
The Australian capital Canberra is going into a snap one-week lockdown after recording its first case of Covid-19 in more than a year.
It will come into effect at 17:00 local time on Thursday (07:00 GMT).
The lockdown was called for the whole of the Australian Capital Territory - home to around 400,000 people - because authorities do not know how the infected person caught the virus.
Residents will only be able to leave home for essential reasons.
Queues were reported at supermarkets as the lockdown approached.
Poods, beware the Ides of March and Confirmation Bias.
BC, I've been thinking much along the same lines lately. Nothing else makes sense re their behavior this drilling season.
Origin's cash flow problems would seem to stem from a corporate culture that centers on diversity and inclusion. These aren't bad things in and by themselves, but when they are the drive wheels on the bus, one can soon expect to see the bus pulled off to the side of the road whilst having its occupants having a group hug and making sure all have an equal hand in fixing the problem. And, of course, when the CFO sees what Origin has spent in the Beetaloo with nothing, other than an opportunity to have diversity and inclusion experiences for employees he has to pretty much stroke out as he memos the CEO that money could have been used to build something green and wonderful. In my mind it is pretty obvious the reason for Sasol's walk away---and it wasn't the resource.