Member Info for F1Driver

Defo buys as that what took the price up.

From recent Q&A (CEO)

The Bamboo Field is actually made up of four separate oil fields. The initial oil in place is over 500 million barrels, it used to produce 20,000 barrels and now it only produces 4,000 barrels. The decline is due to the fact that there’s been no investment in the field, there’s been some pilot studies which say you can basically double production by putting head down the pipe. So, if you had 4,000 barrels and we double it up with thermal recovery, that makes about 8,000 barrels, fixing of surface facilities that’s another 2,000 barrels.

So, in the future, we could be up to about 10,000 barrels a day which equals to about $500,000 a day of revenue. We’re quite happy with how things are developing there and it should be a very lucrative contract for us, it should be profitable and money-earning from day one. There’s no upfront cost to us and all the infrastructure and wells are already there, we just need to squeeze more oil out of the wells which is not a difficult situation.

Going to repeat this as people DO NOT understand the gravity of this deal and the material numbers from DAY 1 that it will produce for WCAT.

$200,000 a day from Day 1 @ 4000 bopd

$73m year

x 4 PE (Super conservative)

$292m mcap forward projection usually by 12 months.

10.4p a share to start, the plan is to ramp to 10k bopd, that targets 26p at 4 x PE, super conservative.

Usually 8 x PE is applied.

Goodbye ART. Close the door on the way out. Not sure who you are trying to convince.

3-4 months from Sept, is literally now or Jan.

1. OCT

2. NOV

3. DEC

4. JAN

Exactly, no brainer for this to be a 12+ month hold and reap the rewards.

Agree Janiax. Best to be holding when it comes. I've been here a few weeks now, and will stay the course, as once the RNS lands, when the real value and upside begins.

If its today / tomorrow, fantastic, if it's in Jan, Fantastic as long as it gets signed.

By the bondholders to get the assets for next to nothing. Unfortunately seems everyone here has been mugged. Another XEL type situation.

Note to self, sell whenever Bondholders start to get involved in share.

From recent Q&A (CEO)

The Bamboo Field is actually made up of four separate oil fields. The initial oil in place is over 500 million barrels, it used to produce 20,000 barrels and now it only produces 4,000 barrels. The decline is due to the fact that there’s been no investment in the field, there’s been some pilot studies which say you can basically double production by putting head down the pipe. So, if you had 4,000 barrels and we double it up with thermal recovery, that makes about 8,000 barrels, fixing of surface facilities that’s another 2,000 barrels.

So, in the future, we could be up to about 10,000 barrels a day which equals to about $500,000 a day of revenue. We’re quite happy with how things are developing there and it should be a very lucrative contract for us, it should be profitable and money-earning from day one. There’s no upfront cost to us and all the infrastructure and wells are already there, we just need to squeeze more oil out of the wells which is not a difficult situation.

Going to repeat this as people DO NOT understand the gravity of this deal and the material numbers from DAY 1 that it will produce for WCAT.

$200,000 a day from Day 1 @ 4000 bopd

$73m year

x 4 PE (Super conservative)

$292m mcap forward projection usually by 12 months.

10.4p a share to start, the plan is to ramp to 10k bopd, that targets 26p at 4 x PE, super conservative.

Usually 8 x PE is applied.

£8m mcap Gordon, on todays price, still peanuts.

Not dilution you muppet. RBL financing.

They have $25m investor lined up for further investment to ramp production to 10k bopd.

There are plenty of companies who are not producing and in that mcap range of £50m plus, some significantly higher. PANR is 230m mcap just based on reserves. UPL is 45m on nothing and recently was the rumour of a bid and hit 120m. What would a producing field with 500m barrels in reserves give you? 2-3p would just be the start.

From recent Q&A (CEO)

The Bamboo Field is actually made up of four separate oil fields. The initial oil in place is over 500 million barrels, it used to produce 20,000 barrels and now it only produces 4,000 barrels. The decline is due to the fact that there’s been no investment in the field, there’s been some pilot studies which say you can basically double production by putting head down the pipe. So, if you had 4,000 barrels and we double it up with thermal recovery, that makes about 8,000 barrels, fixing of surface facilities that’s another 2,000 barrels.

So, in the future, we could be up to about 10,000 barrels a day which equals to about $500,000 a day of revenue. We’re quite happy with how things are developing there and it should be a very lucrative contract for us, it should be profitable and money-earning from day one. There’s no upfront cost to us and all the infrastructure and wells are already there, we just need to squeeze more oil out of the wells which is not a difficult situation.

Going to repeat this as people DO NOT understand the gravity of this deal and the material numbers from DAY 1 that it will produce for WCAT.

$200,000 a day from Day 1 @ 4000 bopd

$73m year

x 4 PE (Super conservative)

$292m mcap forward projection usually by 12 months.

10.4p a share to start, the plan is to ramp to 10k bopd, that targets 26p at 4 x PE, super conservative.

Usually 8 x PE is applied.

MASSIVE

Just starting Gordon.

Well other than spouting just subjective opinion, back it up with numbers, 0.5p doesnt make any sense on any model with 4000 bopd production.

Lets leave it there.

"it should be profitable and money-earning from day one"

$200,000 a day from Day 1 @ 4000 bopd

$73m year

x 4 PE (Super conservative)

$292m mcap forward projection usually by 12 months.

10.4p a share to start, the plan is to ramp to 10k bopd, that targets 26p at 4 x PE, super conservative.

Usually 8 x PE is applied.

MASSIVE

Past is very likely evidence of the future. Also look at other explorers, not even producers and their mcaps

There are plenty of companies who are not producing and in that mcap range of £50m plus, some significantly higher. PANR is 230m mcap just based on reserves. UPL is 45m on nothing and recently was the rumour of a bid and hit 120m. What would a producing field with 500m barrels in reserves give you? 2-3p would just be the start.

From recent Q&A (CEO)

The Bamboo Field is actually made up of four separate oil fields. The initial oil in place is over 500 million barrels, it used to produce 20,000 barrels and now it only produces 4,000 barrels. The decline is due to the fact that there’s been no investment in the field, there’s been some pilot studies which say you can basically double production by putting head down the pipe. So, if you had 4,000 barrels and we double it up with thermal recovery, that makes about 8,000 barrels, fixing of surface facilities that’s another 2,000 barrels.

So, in the future, we could be up to about 10,000 barrels a day which equals to about $500,000 a day of revenue. We’re quite happy with how things are developing there and it should be a very lucrative contract for us, it should be profitable and money-earning from day one. There’s no upfront cost to us and all the infrastructure and wells are already there, we just need to squeeze more oil out of the wells which is not a difficult situation.

For sure feel free to offload at feel free to offload at 0.5p Janiax, thats your call.

Reality is the free float is tiny here, only 30% of the issued share cap.

Also it is massively undervalued relative to stage and what is imminent either this week or next couple.

Remember it hit well north of 3.5p on similar stage back in 2021. I'd certainly expect 2-3p on signature, which would be peanuts on mcap for a producing field with huge upside on production.

Talk about JV for months and months and months, multiple tests etc and then walk away. The commercials in principle should have been agreed first on the basis of a Billion barrel field and X% recovery rate. So either the JV party proper lowballed, OR we asked for way above market value. Can't be any other possibility, if they lowballed (which is likely), then the process has been managed terribly by ART, as the price is the price (and it's only the terms you are really negotiating). If the terms offered were terrible then fair enough to walk away, but we dont know that do we cos they dont share anything.

Nm

Must be imminent hopefully.

Guys

If you are intent on responding to idiots, please change the thread title.

Thanks