Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Orosur Mining* (OMI LN) 3.5p, Mkt Cap £6.6m – Update on Anzá JV negotiations to return control to Orosur
• Orosur provides an update on its Colombian gold project, Anzá .
• The project is subject to an exploration agreement with MMA, which is a 50/50 JV between Newmont and Agnico Eagle.
• MMA announced last year it would conduct a review over the Project having earnt a 51% interest.
• Negotiations are ongoing between Orosur and MMA as Orosur wishes to reacquire a direct or indirect interest of 100% in Anzá.
• The Company reports today that negotiations are progressing, with both parties exploring various structuring options.
Conclusion: Negotiations continue between Orosur and the Newmont/Agnico Eagle JV in Colombia. Orosur’s management sees notable value in the Anzá project and considers it a strong asset to retain in their portfolio. The complexities of the JV structure require an extended period of due diligence and consideration before Orosur can reacquire the asset.
Https://www.health.harvard.edu/heart-health/cutting-sodium-significantly-lowers-blood-pressure
Werner Klingenberg summing up key take home messages for investors following the webinar :
https://youtu.be/4-j6z1IyLH0
Https://www.investormeetcompany.com/meetings/investor-presentation-514
The Company has maintained strict oversight over its operating and commercial overheads and despite the exponential increase in activity we will continue to practice restraint when it comes to controlling costs.”
It looks like PRD is at last about to kick off activity across a number of key areas in the portfolio starting with Guercif where testing is imminent starting before the 25th January with Phase 2 sandjet operations in February/March.
At Cory Moruga a site visit is planned end January for well workover planning reasons, H1 2024 well workovers are forecast to generate gross net operating profit of US$ 3.1 million in 12 months from H2 2024 to H1 2025.
It is clear that much is about to happen across all parts of the portfolio in 1H 2024, the upside should any of these come in is potentially huge…
The shares are up 10% in early trading following the announcement of Predator’s planned forward work programme for 2024, which includes a rigless testing programme at the onshore Morocco Guercif licence and Snowcap-1 and Snowcap-2ST1 well re-entries in onshore Trinidad We think shareholder focus should remain on the Company’s efforts to demonstrate the volumetrics and flow potential from completion of the rigless testing programme in 1H24 to support an application for an Exploitation Concession. On success, we look forward to further operational updates from management on the impact of the test results on achieving early monetisation through either a CNG-based development or potentially a corporate transaction.
Predator Oil & Gas Holdings (PRDP.L, 9.25p, £52m) Trading update. Activity levels ramping up in near term with testing of the Guercif rigless test due to start later this month, with second phase of testing slated for end/Feb/early March. Recent acquisition of T-Rex Resources in Trinidad adds the Corey Moruga field to the portfolio with multiple well workovers planned this year. A new resource assessment has P50 recoverable resources of 1.4mmbbls (gross) and 12.9mmbbls prospective resources (gross). PRD is funded for all planned activity this year, so success should help to lift company to next level.
To receive PRD information directly please register with predator@flagstaffcomms.com
Angus Energy
Angus has announced a fourth Quarter 2023 Production and Operations Update
· Production for the Quarter was 7.35 mm therms
· Estimated revenues of £7.2m for the Quarter
Gas volumes produced and sold from the Saltfleetby Field equalled 7.35 mm therms in aggregate for the months of October, November and December 2023 combined, compared to 7.9 mm therms produced and sold in the third quarter. Fourth quarter production equates to an average of 2.45 mm therms per month (2.6 mm therms per month in the third quarter), as against hedged volumes of 1.5 mm therms per month for the third and fourth quarter. Operational efficiency was 87% for the fourth quarter (90% operational efficiency for the third quarter). Gas condensate (liquid) production averaged 130 bbl/day.
The quarter included a planned shutdown for 6 days during October for maintenance and remedial work on one of the two compressor engines on the Saltfleetby site. The compressor was returned to service on the 21st of October, allowing dual compressor operations to recommence.
The construction of the B07T permanent flowline was completed during the quarter with commissioning of the new flowline completing on the 3rd of November. B07T production losses were minimized to one day for completion of the tie-in work and for flowline commissioning activities.
A further planned intervention on one of the two compressor engines took place during November with the work successfully completed on the 22nd of November, allowing dual compressor operations to recommence.
Equipment hardware upgrades were implemented on one of the two compressor engines during December with the aim of improving engine reliability performance. Work was carried out across a small number of planned interventions prior to the festive period.
Well performance and well optimization trials were carried out during the quarter further to commissioning of the B07T permanent flowline and this work remains an ongoing focus for the sub-surface and operations team.
With the fourth quarter slightly down at Saltfleetby due to expected maintenance and remedial work on a compressor the company and its shareholders should be very pleased with this update and with the field upgrades coming thick and fast the I’m confident that all is very good for Angus.
Https://dallasexpress.com/health/less-salt-lowers-blood-pressure-study-says/