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Thanks Bully1985.
Yes it appears we must fund a margin of 100% by Friday 26th February 3 PM...... and then close all positions by 29th March.
I always thought of IG as the Gold Standard of Spread Betting but it appears that is not the case.
Cheers
Bought more this week up to 174, could not resist another 5000 at 164.88. This share is life changing for most of us - if not all of us.
Minor delays on pressure testing and Coho. However Paul implied that NGC were pushing ahead with the approvals and work on the Cascadura/ Chinook pipeline - should be no delay there.
Also Roysten could be in Q1 Not Q2. I would not risk losing some of my holding for the chance of a few hundred pounds.
Risky
GL
whilst you have a point - the example with Rock Rose is very different.
Mr Austin personally owned an eye-watering 27% of shares in RockRose when he and the board decided to sell up to Viaro Energy in July for £247.5million.
Smasher - your correct . I did this quickly for a friend who is in and out of the share and made the mistake with P/E and I was making a case for the agreement of the Gas sale. So overall, given the earning will be less than the income but against that we have the condensate and the existing oil wells and the increase price of oil, and the increase in reserves I don't expect the final result will be very different that that shown.
I should not have put 'I think the above is correct and accurate' This is just my guestimate.
I take your point on P/E but think the 4 wells will produce nearer 150,000,000 than 100,000,000 cf day because the Cascadura and Chinook wells will I expect reveal higher reserves -also don't forget Coho will get a much higher price as we will be building the pipeline. ( Money already set aside)
This is just to get a ballpark figure to see where we are going .
Trying to put some figures to this deal'
If we tale the shares in Issue : 209 Million
TXP has 80% of the Ortoire Block
Pricing used $1.5 per 1000cf.( I think it will be slightly higher - but could be lower)
NGC Pays for all pipework - We just find the Gas
Cost of wells about $6,000,000 Average
I think the above is correct.
We have 4 wells which should be producing 150,000,000 cf a day (Coho will give a higher price)
150,000,000 at $1.5 mcf (mcf = 1000cf) = $225,000 per day
Per Year = $82,000,000
80% = $65,700,000
Convert to £ = £52,560,000
The average P/E for a large or small oil/gas producer is 17
Then company valuation using a P/E of 17 is = =£893,520,000
Share Price £893,520,000 /209,000,000 =£4.27 Sometime 2021
The pressure testing on Chinook and Cascadura Deep will be released in Q1 - they should upgrade the initial figures.
In Q2 Roysten will be drilled in 2021 Q2 which is 4 X Size of Cascadura
Shell drilled Roysten and found 700 feel of gas sands. They did not want gas so they plugged the well.
Further wells will be drilled immediately after - probably another Cascadura deep - but deeper. And probably another producing well at Chinook. Could be further wells drilled in 2021
So we could double the £4.27 by the end of 2021 or soon after.
All we know is Large Gas has been found - NGC Want it at around $1.5 mcf and when the 4 drilled wells are put in production we should have a wall of money coming our way
I think the above is correct and accurate But DYOR
New article on TXP
https://energynow.tt/blog/ortoire-block-continues-to-deliver
Munchbox54 A little naughty choosing an old IC publication on 30 July when they put out a BUY at 114p on the Oct14.
Paul said in one of his latest videos that he has been offered money from various banks etc. Money is not a problem.
Just been for a walk - then it rained so ran back lol.However I did have time to think. It makes sense to have TXP to make contact without talking about Chinook, to comfort the nervous investors who are waiting for news. I believe Shell decided to stop drilling because of the rock structure. (after they had hit the high pressure Gas). Cascadure was delayed by sidetracking the well. So these delays are normal. On the other hand it could be they are already at target depth and testing the zones on the way up. AIM hates no news, so a little contact is good whilst they complete the well.I'm coming to the view (could be correct or wrong) that it's taken longer to drill than expected and this interception by Xavier Moonan the Senior Geologist for TXP is to let us know they are still there and working on the well. Hope that is correct and this week or next we will get the result we all want.
Buffy I know that but they do notice the PRICE...... So if their is a reason for the price of gas goes to go up.....That will be no bad thing if your negotiating a pricing deal for gas. Which would you prefer to negotiate a pricing deal for your commodity to be going higher or with the commodity getting weaker and going down. Lets leave it at that