Member Info for Espenviking

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.

Gordon, you asked for a modest increase today, +5% in green. Overall a good day then!

It would be useful to get a Q&A, they’ve mentioned plans to co-mingle etc., but omitted in this update when is it likely to happen, as well no mention on condensate rate etc.

Crunch the numbers tt, new gas sale price to be announced in coming days remember, as of 01/10. All about stabilising the operations now.

Hi Gordon,
I did sell up at some point, however decided to buy back in some months back. On my current holding (c230m), my average is somewhat lower than yours. I did snap up a another modest amount yesterday. Got a positive view but important to keep a balanced view.

But equally 50% above my lowest entry point. Hopefully some indication this week, if not by Monday, that way they should have had 10 days or so post tubing re-install.

Haddy, fyi day before the last placing it was pushed up to .3