Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Nice to see week is off to a rather positive start.
Or are they saying he will retire? He is already part of the bod isn’t he.
So they’re looking to elect our cfo to become a director?
So assuming follow rates
Condensate 17x60usd/day
Gas .276x8.5usd/day
Just over usd100k/mth
according to calcs? So still a way probably to cover outgoings but getting closer for sure.
If drills are successful, they will have “proven” the “reserves” can be extracted. This should allow us to promote our current P2 resources to P1. This will help to remove the ambiguity around the asset values. Soon we hopefully will have confirmation there are offers submitted. I assume the data room will be kept open for 6 weeks or so, based upon other farm-out/down deals I’ve read up on..
One would assume/hope we will have an RNS outlining how many binding offers have been submitted well in time for Christmas, then obviously a final signed agreement follows (in perfect world also pre-Christmas).
Thought this to be a useful overview of what they have just kicked off. Gives at least a flavour of the process and what’s involved, even if they don’t follow it by the book.
https://www.slideshare.net/****croft/the-international-farmout-process
Agree Gordon, it’s rather sluggish to say the least.
Good we had a nice rise Friday to offset. Everyone to their own, we all got our own style - approach.
Agree c2. I think we all would have welcomed things to move quicker but this is the game we’re in.
Nice raise and update to finish off the week
I think that makes good sense novum, as will indeed be “proven” then.
Morning all, exciting. Yes, believe is needed. I suppose q report should come out in next couple of weeks as well.
Hopefully soon also P1 reserves, and NPV10 quantified/published.
Indeed Gordon
Looks as RW must have listened, three news articles in a day - lol
In April According to this periodical.. hopefully by then new wells be firing on all the cylinders..
“further hike in domestic gas price is expected in the next revision in April 2023. ”
https://wap.business-standard.com/article-amp/markets/ongc-oil-india-gain-up-to-6-as-govt-increases-gas-prices-mgl-falls-4-122100300137_1.html
A wee refresher: https://www.lse.co.uk/rns/OEX/cambay-reserves-re-classification-p8l4x6k8fxngek1.html
At this point in time the 1P allocation is zero. Under the Society of Petroleum Engineers Petroleum Resource Management System (PRMS) the 1P volumes may be attributed once capital has been spent and a commercial analysis has confirmed a positive NPV10. Oilex intends that 1P volumes will be added at the appropriate time.
The definition of P2 vs P1 is 50% vs 90% (or greater likelihood of being present and economically viable for extraction in current conditions.)
Might we have reclassification coming through soon?
Onwards and upwards.
Nicely done Gordon
I know Gordon, it was intended as a bit of a joke. Onwards and upwards.