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Nice to see OMI at No. 4 place in the Share Risers this morning.
Up nearly 20% with just 558,000 share volume.
I also hold ANGS. up 8% again but look at the trading needed - 10 ½ million volume.
It has been said many times: An RNS with positive gold drilling information could move OMI to unbelievable levels.
Good luck to patient LT holders
Twitter group for reference: #GGP
https://mobile.twitter.com/hashtag/GGP?src=hashtag_click
Interestingly, there are occasionally posts from peripheral groups. Gospel Gang Party 🎉 seems removed from gold and minerals exploration, but what do I know.
I have been doing some research, trying to find out how the BR-X4Z well was suspended after drilling, electric wireline logging over Kimmeridge intervals, running & cementing casing, etc. What kind of equipment will they be mobilising to the wellsite over the next few days / weeks? Do they need a hoist / small work over rig or would a large crane do the work programme? Apart from the Halliburton test separator, flow meter and EWT equipment, will they need coil tubing for nitrogen lift?
I did not find the presentations and RNS announcements on the company website to be very informative. Best link was through whatdotheyknow.com
https://www.whatdotheyknow.com/request/441528/response/1076213/attach/7/Brockham%20X4Z%20Completion%20Programme%20of%20Work%20redacted%20Redacted.pdf?cookie_passthrough=1
The well is safely suspended with 7” casing and a 5” liner covering the reservoir. It does not become a live well until the reservoir interval is perforated, when additional BOP equipment will be installed above the wellhead valves. I assume that the completion string with production packer and tubing conveyed perforation guns below will be run using a crane, similar to how it was done on the ongoing KL-3 well test at Horse Hill.
Despite P. Vonk’s upbeat Star Wars analogy for investors, the official company line is that the production rate will be constrained. We all share the hope that Alan2017’s estimate of 1,000 bopd is realised. Certainly, the size of production tubing (my guess 2-⅜” pipe) will prevent significantly exceeding this rate, exactly as it did at Balcombe.
http://www.angusenergy.co.uk/wp-content/uploads/2018/01/Angus-Energy-January-2018-Investor-Presentation.pdf
An interesting few weeks upcoming.
GeoDave,
Good to see you back and . . . Good timing on the share price to get back to GGP. The next two RNS announcements could be very significant for this company. I look forward to reading any comment from you as one with Oz field experience in mineral exploration.
All the best
The list of producing oilfields, which include limestone producers in and around the Weald, is in the public domain.
https://itportal.ogauthority.co.uk/pprslive/production-data
Some of the names will be familiar: Wytch Farm (70,000 bopd), Singleton, Stockbridge, for example. I worked at the start up of Humbly Grove in 1986 and it seems that there has been very little decline in field production over 40 years. Modern technology can arrest production decline by workovers, acid stimulation, sidetracking, highly deviated or horizontal wellbores, even multilateral boreholes from one wellhead.
However, You can see that the likes of Lidsey and Brockham now pump out less than 100 bopd.
An important point to take in is that not all oil producers from limestone pay zones are the same. The definitive document, for those who have time and interest, is from Southampton Uni.
http://www.southampton.ac.uk/~imw/Petroleum-Geology-Weald-Shale.htm
To date, most production from limestone reservoirs have targeted the Oolite of the Kimmeridge. See Fig 1.4. The mictite of the Kim was seen to be tight clay stone with no prospect of production from connected micro fractures. Brockham and Horse Hill changed all that. Read Section 5.2
However, to date there have only been short welltests on the K3 and K4. Brockham will be the first time that the Kim fractured argillacious limestone will be put into long term test and production. No wonder Paul Vonk was excited in the latest interview!
Average decline in any well is near impossible to predict. It depends on the porosity, permeability and other characteristics of the producing formation. It depends on natural fracturing, formation damage while drilling. Production rates and decline vary between wells in the same field.
In my opinion, and Alan Thomson may have a different view, a horizontal well at Brockham could produce 3000 to 1000 bopd for decades. There has been discussion on water injection, which maintains reservoir pressure and supports production rates.
All the above in my opinion. DYOR. Weald oil production is under starters orders.
From another B.B., thanks to Crocqman:
Any party will need to disclose, going through each individual % threshold level (4, 5, 6%, etc.) when acquiring or disposing of stocks. A TR-1 disclosure should be made as each threshold level is reached.
DTR 5.1.1 (3b) states that disclosures apply to any share admitted to trading on any regulated market.
That applies to AIM listed companies.
If Stephen Beetham tells us he has increased his holding from 5% to 6.2% then I believe him. I will expect an RNS to confirm this. The guy is no fool and his confidence in Havieron should comfort shareholders such as me, who have been underwater for too long.
Greetings PI’s
As the bb is quiet today I thought some of you may be amused that I have loaded up in OMI over the last week. I recognise many familiar posters here who, like me, have been dispirited by Greatland’s performance over weeks, maybe months.
I sold out a few £10k’s worth on 1st Oct and some of it went into OMI. After Fridays performance, I am reassured that my holding is blue. I believe that the next few weeks here could show significant gains, although I have seen rampers predictions proven wrong so often at GGP that I take Degsy’s sp forecasts with a pinch of salt.
I am still locked in to the Australian explorer and, contrary to other disillusioned investors, am convinced that their Patterson assets will bring a gold resource declaration and a big mining tie-up next year. (Not Newmont!).
Good luck all. Next week should start to see OMI head north, if we get announcements on new(mont) Director and drilling operations update. 📈
Saints
You may be missing the point that Tiburn is making eloquently. I do not mean to appear pompous.
Facts are that sp of GGP has only fluctuated and held above the 1.8p level for any length of time during Nov / Dec last year. There has been much comment about that period of hype but most are agreed that the price was lifted by sentiment. Most importantly, a big miner, Newmont were interested and participating in surveying a prospective area at EG. The share price crashed when NM walked.
In my opinion, as well as others who have commented on the subject - the sp will not rise above 2.5p on spectacular gold grade assay results alone, whether they be from Havieton or Black Hills.
The only factor that will turbocharge the sp is an announcement that a miner is interested in part of the Paterson project. That is why we hang on GH’s every word when he talks about Rio Tinto. We speculate where he has been travelling & who he has been talking to.
Tiburn has given us a good feel that the necessary mineral resource delineation drilling will not be over after the 10 core programme finishes in November. There will need to be more drilling when the weather allows, early next year. Hopefully, the grades from the lastest Havieron core drilling will be enough to attract Rio to buy in and fund a more expensive programme. 3p share price for 5 consecutive days is a long way off, despite what Mr Stephen Beetham may think . . . . but I hope that I am proved wrong!
Vulcan,
One of the most technically informed comment in the last few days came from Alan2017.
First priority is reservoir engineering analysis of the EWT results. We have not been told choke sizes or time of flow periods. Another major question following the well test is what micro fracture zone is bringing in the water.
They may need to run more electric logs to define water bearing interval. These could be run through tubing but better run in casing after the tubing string has been pulled.
The certainly does not need to be any more drilling, sidetracking or anything risky from this wellhead. The completion string can be pulled with a small, cheap day rate work over hoist. Over on HH they are running and pulling production tubing with a crane. Alan pointed out that when the replacement string is run, it will have inflatable isolation packers to shut off the water zone.
Optimum tubing size will be evident from analysis of the EWT results. My guess is that they have 2-⅜ inch OD tubing that needs to be replaced by 3-½” pipe that can handle rates of 3k bopd.
The most time consuming operations are administrative: ANGS need to obtain a production licence and permission for further onsite work over operations from the local authorities. In the past, this process has not been smooth sailing.
Tiburn look-ahead
I have not seen any reference in the last day to announcement from Antipa Minerals on gold discovery on their Chicken Ranch prospect, not far north of GGP’s discovery at Black Hills.
http://www.proactiveinvestors.com/companies/amp_overview/15076. Near surface high grade gold from core drilling
http://antipaminerals.com.au/wp-content/uploads/2018/09/2018-09-19.pdf
Scallywag and all large prospects to the north take on a greater importance. Part of 50 target campaign in 2019.
In the meantime, those results from Meadows drilling at EG are going to be very significant for future confidence in Greatland.
4p next week? - Almost impossible.
Having held GGP for over a year, it is very possible that the news from Meadows will be disappointing. Average less that 2g/t gold would see the sp dive below 0.8p next week. I hope that I am being pessimistic but 4p is not realistic.
Panorama is in the Pilbara region
https://stockhead.com.au/resources/kairos-boss-says-big-nugget-haul-adds-weight-to-the-pilbara-gold-story/amp/?__twitter_impression=true
Judge for yourselves whether the share price rise has been overcooked at OMI.
http://www.orosur.ca/files/2018-09-11-Sept-2018-Corp-Presentation-FINAL.pdf
Look at the gold grades on page 9. Silver as an added bonus.
I would be exstatic if the Meadows drilling assay results are close to these grades. Only 2 weeks and we will have some answers.
Thom & others who are sceptical of Tiburn’s best case share price figures: Listen again to this presentation about the Nova nickel discovery. The Carnegie target in the EG project area resembles the geophysical signature and size of Sirius’ Nova nickel deposit.
https://m.youtube.com/watch?v=TIk3nCBtuC4. Listen for 2 mins from 13:45. Note points on shareholder dilution, placement / issue of equity and 4,500% share price rise after the discovery.
Agreed, the one hole drilled at Carnegie this year failed to show a nickel discovery but we are still in with a chance of gold at Meadows and that has had the benefit of DSG technology and Newmont’s ‘drill here’ suggestion. Black Hills and Havieron are discoveries - real, not potential gold - and these just need further survey delineation and resource drilling to accurately determine minerals in place.
I am one of those optimists who believe that many people will be amazed where GGP gets to in 2019.
http://www.proactiveinvestors.com.au/companies/amp/news/204697?__twitter_impression=true
A reminder to all about the Scallywag prospect: Research by Tiburn has pointed out that the targets straddle an area that is held by Holocene Pty Ltd., a subsidiary of Reward Holdings Ltd. To my thinking, any surveying or exploration drilling at this target would have to follow some agreement with the other party to ensure that any discovery would be to the benefit of both GGP and Holocene.
GH is no doubt negotiating behind the scenes & site work will be limited during the hottest period in the Western Desert.
Some interesting discussion ongoing on the SVE board on the subject of their holding in Greatland.
Callum Baxter & Gemma Cryan are on the BOD and are also with GGP. If there is a share price rerate following the next RNS on Meadows or Havieron, there is a suggestion that SVE will be reducing their % holding of GGP.
howabouthat
apple is correctly pointing out GH interview, when he states that GGP needed to raise more cash from issue of equity to drill and appraise BH + Havieron.
https://www.share-talk.com/share-news/gervaise-heddle-chief-executive-officer-greatland-gold-plc-aimggp-interview-2/
First minute of interview with Zak.
Do not forget events at the end of last year. 5th Jan 2018 Options were taken up - 3 million shares at 0.2p. Many people believe these were sold at the 2p high before the share price dived on 15 Jan and we were in sub 0.7p price for months. Those in the know do very nicely from the grant of Options