Member Info for Dicko80

.2p takes the p1ss

Battery metals don't have the money

It was always stated that corcel would buy them out

what a curve ball from battery metals

So i make today day 44 of 45 ..

Battery Metals had upto 45 days to claim the back in rights for Mambare... within 45 days or it goes into the JV as planned

Battery metals have basically stuck two fingers up to the JV ..

i'll buy you out instead..

which then puts the JV in doubt with IBM has Corcels side of the deal was to put in Mambare and WWG ( Hence the statement ref ratifications )

Looks like persistent seller

Anyone keeping track on stock they have left ?

Is the general consensus they are offloading for a new capital raise?

finance isn't sorted , without it the project is on hold until resolved

another extention is required for the licence - will it be confirmed ?

if so likely for Q4 this year for drilling

there are also work commitments in SA , if you refer back to the farm out flyer part of the licence work commitments is 3D seismic but this can only be carried out in the first 2 quarters of the year...

time is running out, but needs to happen...

cost is $5- 7m

where's the money going to come from ?

Depending what happens in the near term they may well be another placing to fund further activities

yes the financing is still o/s

gordon i have only been invested in the last 6 weeks or so

its disappointing

managed to get the farm out flyer

its PDF so can't share

Investment Opportunity

Synergia Energy is offering up to 50% WI to a partner or
partners in exchange for a carry through drilling and
comple?on of two horizontal Eocene development
wells. Partners with experience in unconven?onal
resource developments are preferred.

i find it disappointing that we've been told the project has NPV $725M for a small proportion yet they are trying to farm out upto 50% of the project for 2 wells, which @ $10m is worth $20m, so in theory the whole Cambay project is worth $40m ?

Hi Elegance

They aren't opening up all the Wells just the 4 zones in the C77H well

Gordon's frustrated and I think we can all understand this

To be fair It's a nothing RNS ,it's basically saying nothings happend but providing an update as they've probably had a lot of emails and tweets asking for updates

they could have added in that paragraph of the jet pumps on the previous RNS

That's the frustration

Yes

Zag

all you've done is **** the company off ... why would i share this with you ?

just buy in and stop your whinging

Question regarding the PSC last night...

Q -As previously announced, Is the PSC for Cambay being amended to incorporate the CCS ? If so does this mean the JV will be for both cambay gas and CCS ? I mean how would they be separate projects if they are both under the same PSC ?

"The farmee will have the option to participate in the CCS project. CCS can be carved out of the hydrocarbon license if the farmee decides not to participate."

interesting to note the change in terminology, the farmee.. its always been JV or farm out

confident its happening and sounds like the PSC has been amended to include CCS India

multiple news catalysts due

That's mine 21million today

Not sells , don't be fooled ;-)

Harbour Energy PLC on Tuesday said it has agreed with BP PLC to develop the Viking carbon capture & storage transportation and storage project

https://www.lse.co.uk/news/top-news-harbour-energy-to-develop-carbon-capture-project-with-bp-9yv0pxzrpaf7wp9.html

Anyone any ideal on how we will fully fund all the near term activities with this issue ref no more headroom ?

a) The recent placing RNS showed how the monies would be spent, but " site build " was blank ??
b) drilling mou3
c) testing mou1
d) drilling mou 2
e) first settlement to challenger end of May
f) testing mou 3
g) testing mou 2

TIA

Ye what I'm saying is its an old depleted well it's not a new well

Going forward ...

The new wells won't be drilling old depleted wells

C77 wasn't a new well though

eagle, the pumps are proven worldwide

the other thing to bear in mind the new wells will be drilled horizontally ..

i've mentioned this previously but also found this article which highlighted the potential upside for drilling horizontally...

Oilex Ltd (LSE:OEX; ASX:OEX), the Australian oil and gas exploration and production company, saw its shares surge an impressive 250.5% over the past year, with much of that growth due to gains of 287% in the past two months....

The results of the pilot programme are expected to provide the data needed to determine whether horizontal wells can provide an estimated 3x to 5x increase on well productivity, thereby offering the highest commercial returns for the project"

https://www.thearmchairtrader.com/oilex-ltd-shares-can-cambay-field-potential-transform-the-company/

yes thats correct Gordon but i followed it up and also asked the question direct to the company and was told ..

Q -"is the conclusion of farm out with any interested party subjective to the pumps being in place and proven"

A - "no not at all..."

so the farm out could come at anytime