Member Info for edgar222

...due this week. Either the plans or more time needed.

Has taken an age to set up and is unimpressive.

Gaslady

Me too. And am positioning accordingly. ;)

Very positive. Even with extreme gas price volatility the average realised price is 135p, with opex of 10-15p per therm. FID at 45p. Forward winter curve over 300p.

Production stable and we know whats coming in Q4.

In other words they are coining it.

With the recent debate about gas price v NBP gas price I think I now understand IOG is receiving the NBP amount.

Today the uk gas price is approx 220p and the NBP is 257 p per therm.

I dont pretend to understand all this but on either figure IOG are coining it even at half production. Production is about to double with the fix. And then double or more again when Southwark comes on.

Also, the futures curve still has the gas price higher than these levels in autumn/winter 2022/3

Fantastic that we are getting it for free but I dont expect expenditure on the project before first gas from Ruvuma.

The Company have been pretty clear that no work on KN1. They are battening down the hatches, cutting costs and waiting for the Ruvuma pay day.

I for one am delighted with that strategy. Exactly the right approach, IMHO. Thats just on an expenditure level. But the tricky compartmentalised KN1 geology means it is not straightforward and might be expenseive to remedy. When you have a momster like Ruvuma coming onstream and being de-risked, there is no need.

Smudger

Circumstances railroaded SCIR. The finances. So the Company are probably looking at it like a millstone has been lifted (future costs gone) while if I was a shareholder I would be feeling cheated. But then, since the AEX farmout, SCIR was never the way to play Ruvuma.

I have said before, I feel a loyalty to SCIR who significantly helped out Aminex in our dark hours for what turmed out to be not very much return. I wish them well.

Obviously, the whole thing is positive news for the JV. Funding impediment gone, all risk gone (in the sense that the gas already found is commercial)?

Onwards and upwards.

In an interview. 1 month, 2 at most for production plan news. That was late April.

Presumably forward production guidance based on stable flow rates over a period of time has been put back too.

Very upbeat

No trades reported?!

Have never owned WEN. It was always a rather dull though successfully producing...err....producer. I always wanted more blue sky than it offered.

But WEN have just transformed themselves, very cheaply, with an asset we all know is worth very much more than they have paid.

....talks of CH1 drilling late this year or early next....

Haggis

They are saying "we got a bargain lads" already. And boy, did they?

From the WEN RNS...."The deal represents an attractively priced, low risk entry into a high growth opportunity"

SQ30

Been wondering the same thing! As I understand the position AEX gas has always been earmarked for the domestic/industrial market not LNG. So no read across beyond increased economic and o&g activityin-country.

Of course that might change. If (say) the EU wants lots of LNG our gas might divert. But I have seen no sign of that yet.

When I read "Q4" my brain takes in "31st December". Not just on this share, but any.

But could be "1st October".

SQ30

I take your point. But that means its the drill not the seismic that makes the difference to the share price. Which is my point. All good fun. Dosent really mean anything. We all (those of us that can read) know this is going only one way with patience.

....I am in a twitter conversation @edgartwo2

The Company have liked two of these tweets.

Which I take to be an endorsement of production news being incoming.

Read the thread if interested.

https://twitter.com/asjwebley/status/1534450024066736129?s=21&t=IqKaQ6qMm91eZoeAUkCVtg

Fwiw (not much) I am not expecting the announcement of 3D seismic results to significantly shift the shareprice. My memory is that every seismic update has greatly increased the gas in place without much impact on share price (30% up and then drift down).

None of that matters to me. I remain utterly convinced this is now the buy of the century and I can wait for the drill, results, full field development etc. Continuing to buy when I can.

GLA

Am very clear on the drilling programme. And the fact that assay results can take longer than you would believe.

So whats next news? Production plans? Drilling progress (without results)? JV re copper resource?