Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Been on the watchlist for some time.... has anyone spoke with the company regarding when the authorities were reviewing the case ?
seems a lifetime ago it was to be rushed through , markes as high importance !
Summer spud then
i looked into the company currently using the rig and its BW Energy, they had an option to extend their contract for the rig beyond Jan 2025 which has been exercised so i would prob agree Summer for Spud
Upcoming TD and subsequent drilling report will be all about the detail and plan moving forward, hoping for a lot meat on the bones than previous TD announcement !
If... they mention horizontal drilling to aggressively ramp up production numbers then 2p will be low..
heres hoping !
Was on the basis of £3m dilution and 10.7bn additional shares taking it to 21.5bn
Actual only 3bn to be issued
So 0.12p target price and Bere used upwards
21.5bn - 12.5bn = 9bn
9bn / 21.5bn = 41.8%
0.12p x 41.8% =
0.17p coreNAV
Upside 0.17 -0.022 = 0.148p
672% confirmation of Farm outs
Then once into production previous sp target. 83p would increase to 1.17p
1.17 - .022 = 1.148p
1.148 / 0.022 =
5118%
Abit of upside from here
Then there's a further 100mmbbls in Cameroon of known potential, plus a much bigger resource potential in the deeper plays, numbers unknown at present
And Namibia we await updated volumetrics , potential 3bn + potential
And SA ... similar mutli billion bbl potential
What an opportunity today
Buy and lock away for 2 years
Indeed
Its not all about Cameroon
But the recent sp angel broker target highlights the discrepancy of mktcap vs Cameroon deal happening
27 / 28 bags
But Namibia is going to be huge ...
Current mkt cap £2.3m
Time to buy or top up
Merry Xmas
You lot need to stop being so pathetic
JA holds over 511m shares bought much much higher
probably cost him a million quid
Of course he's got the best intentions and he needs it to work with such an investment
STRONG BUY
James
Thank you for the kind words
Availability of a rig is good news especially in one of our licence areas as rig availability as we know has been very tight, hopefully it's a sign of the market being abit more open which for us is a good thing..
So my post was for awareness
Now do us all a favour and fcuk off
Thanks
Https://www.offshore-energy.biz/with-shell-opting-out-of-last-extension-option-in-namibia-rig-available-for-hire-in-summer/
December 12, 2023, by Melisa Cavcic
Offshore drilling contractor Northern Ocean is on the lookout for further assignments for a semi-submersible rig, which is expected to finish its work with Shell in the summer next year, as the oil major chose not to prolong the rig’s current job off Namibia.
Thanks kever
Worth noting the initial target 0.24p is just for securing the rig and a 68% WI without dilution for 15mmbbls appraisal well , contingent resources, further sp target of .80p for Ph1 production
The Appraisal well is also drilling through other potential oil reservoirs which there is P50 prospective resources of additional 25mmbbls , so this would be another 17mmbbls to TRP in the success case , this isn't included in the sp targets which would double the targets
Also 15mmbbls is only a very small percentage of the companies potential, the report indicates over 2.1 billion bbls , although this is conservative, 15mmbbls is about 0.7% potential of the overall resource so purely on the contingent 15mmbbls potential 28bags from here for just .7% of the overall portfolio
We await updated volumetrics for Namibia which I believe will be much much bigger potential than the 1 billion SP Angel allow in their prospective resources
Rig contract unlocks the potential
Buy and hold for 2 years