Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
Yep, I dipped my toe in this morning.
https://twitter.com/ContangoPlc/status/1498619110615306242?t=f72VFdEa4WgsZcNEvfN3Hg&s=09
Valaris JU-107 jack-up drilling rig is being mobilised to the Buffalo-10 location
• Buffalo-10 focused on confirming sufficient hydrocarbons to support an economic development
• The well is estimated to take around 35 days to complete
Carnarvon Energy Limited (“Carnarvon”) (ASX:CVN) is pleased to announce that the Valaris JU-107 jack-up
drilling rig is currently en-route to the Buffalo-10 location. Drilling is expected to commence within a week.
Drilling Plan
Buffalo-10 is to be drilled offshore Timor-Leste within the TL-SO-T 19-14 Production Sharing Contract (PSC) in
around 30 metre water depth (see Figure 1).
The well is being drilled to test for the presence of commercial quantities of hydrocarbons (oil) that could
ultimately result in a re-development of the field.
The Valaris JU-107 jack-up mobile offshore drilling unit (MODU) has been contracted to undertake the Buffalo-
10 drilling campaign.
The estimated time to drill and complete the well is around 35 days (success case, trouble free).
The base case well design is:
• drill 36” x 26” hole and set 30” x 20” Conductor at around 120 metres;
• drill 17 ½” hole and set 13 ?” Surface Casing at around 800 metres;
• drill 12 ¼” hole and set 9 ?” Intermediate Casing at around 2,800 metres; and
• drill 8 ½” hole and set 7” Production Liner to approximately 3,500 metres (success case).
In the success case, the Buffalo-10 well will be suspended with an unperforated liner, cemented across the
reservoir in order for the well to be re-entered and completed for production at a future date.
Geological Plan
Carnarvon acquired the permit containing the Buffalo field in 2016, and immediately set about reviewing the
potential in the Buffalo field using technology that was not available at the time of the previous development.
Reprocessing of the 3D seismic dataset using modern full waveform inversion (FWI) technology supports an
interpretation of a significant attic oil accumulation remaining after the original development.
The extent of this attic accumulation will be tested when the well is drilling through the Elang reservoir in
the 8 ½” hole section, where it is prognosed to penetrate both the existing oil column and assess the extent
of the attic column, as illustrated in the figure below:
Bwana it is buried in the first RNS
La Mancha will subscribe at the UK Placing Price subject to a maximum of 7.5 pence per share. La Mancha will also subscribe for US$15 million of Convertible Notes. The subscription for the Ordinary Shares is conditional upon, among other things, the approval of the Company's shareholders at the General Meeting; the approval of the subscription by the TSX; the admission of the new Ordinary Shares to trading on AIM; and the Placing and Strategic Investments having become unconditional with gross proceeds of not less than US$175 million (other than interconditionality and AIM Admission).
John4242 I do enjoy reading your thoughts. I think you're a half glass empty kind of guy. Which is always healthy, when naturally most on here have got an unconscious bias towards HZM. Myself included.
A positive and assured interview my Katie Millar regarding HZM's ESG credentials. "We are going to walk the talk"
https://twitter.com/HorizontePLC/status/1420035255570927624?s=19
Thanks for the reply TDT.
From the outside, HZM is in such a strong position, especially with the current and projected Nickel price. I could understand if Nickel were languishing at much lower levels, they might have to do a deal at 5.5p. If Orion is the Cornerstone, surely Teck and Glencore wouldn't want to be diluted at these levels. Or do they not care?
A convoluted jigsaw to piece together. Hopefully, we will find out the answer next week. GLA