happy the sp has dropped back a bit, I sold my piddling amount at 9.25. as I half expected a drop (that didn't happen) and I am so far in the ships financially I cant afford to waste any profits. I am trying to save my bacon with intelligent acquisitions and trades so long term this has to be --and why I bought in the first place, a great investment. If you can get it below 9 mr barnard, it would be kind of you, if I can add a few more shares for same money then t'is good. Below 9, reminds me of 9 below zero, a little known R&B band from Essex and South London. The drummer, Mickey from Grays Essex, joined them and I took his place in the band he left and we supported 9 below at the Marque in their debut album back in maybe 79' or 80', cant remember. I digress lol. and a futile post for which I apologise. old n that.
Production? First, zen need to employ someone to manage field ops, they only have accountants and lingerers at the moment and no technical expertise or experience of drilling and producing anything. They then need to decide whether to bypass the concrete plug with a side track, drill straight through it and hope for the best or drill a new well from the existing slab, design the well once they have a wish list drawn up, decide what sort of completion they are aiming for, then they will need to obtain equipment, bring their rig or hire one locally, put it all together and then realise they have forgotten to order any mud, and then get started and after a few weeks, reach the bottom of the hole, run some tests, tell the world it's a disaster, then after another week, tell the world its better than they had imagined, and then say, well actually we were right first time cos really, we haven't a clue what we are doing, we are just bean counters having a bit of fun, and we need some money to have a bit more fun if you don't mind. If they get a licence and if they use a contract rig and crew, 6 months at least to get the thing drilled and tested. If they use their own rig and crew?, They don't actually have any of their own crew so they would need to have a word with the local chief and ask for the loan of a few youth training bods to have a go at drilling a hole in the ground. Production would be another story as they would need to hook it into something or collect it in little oil drums and then find someone that will buy it. I think that you will have plenty of time to think about whether to part with hard earned cash or not. I do believe there will be some trading opportunities from time to time, but investment? Not for me.
A nice surprise, I stopped looking at about 3.0m yesterday and have just looked in to see how we finished up. Indeed a good day and price held up which is a change from the usual drop off towards end of play. ATB.
Added on the bell at 69 point something. Took some profit earlier this week, bought them back again, 3p variance. Annoying, but could have been worse like not buying back :). Tryandtry. £8? would help my dire finances. I would take £7.50, not wishing to sound greedy etc.
I noticed that post and replied with 24 hours to get the whole thing out. 1-3 minutes per 10m length, pull it out, lay it out on the piperack whilst pulling the next one. Assuming we are talking about production tubing it could be done during a good 12 hour shift. Hence starting to think they haven't started yet, or they have managed to drop it again.
Indeed. I have done some work on a housing development in the Dagenham Area. The ground has been 'stabilised' , ahem, and a membrane laid across the landfill. Top soil has been stuck on the top and buyers are told that there are restrictions on planting anything that might breach the membrane. They are also told that there is no 'digging' below 500mm. You can live there with prices from about £350k for a 1 bed flat up to 700k for a terrace rabbit box, sitting on a mush of decomposing sh*te. Another site I go to in Kent has a huge mound of 'top soil' that has been stripped off and made ready for re-use. The 'mountain' has been there for almost a year. There is not one weed or anything else green growing on it!. Nice.