focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Just for information from company website:
Reabold holds a ca. 56 per cent. economic interest in West Newton via its ca. 59 per cent. shareholding in Rathlin, which, in turn, has a 66.67 per cent. interest in PEDL183. In addition, Reabold has a 16.665 per cent. direct licence interest in PEDL 183.
In line with Reabold’s investment strategy, West Newton, offers a fast pathway to monetisation through its proximity to existing gas pipelines and infrastructure.
On 17 June 2019, Reabold announced a discovery at West Newton, with both gas and liquid hydrocarbon volumes encountered. Subsequent analysis and initial testing at the West Newton A-2 well led the Operator and project partners to believe that the West Newton project represented a significant oil and gas discovery rather than the gas discovery as originally anticipated.
In December 2020, Reabold announced a further significant hydrocarbon discovery at West Newton. The drilling of the B-1Z well encountered a gross 62m hydrocarbon baring reservoir interval in the Kirkham Abbey target formation, with the overall Kirkham Abbey hydrocarbon column estimated to be at least 118m, significantly exceeding previous observations. This data suggests that the West Newton discovery would be the largest UK onshore discovery since 1973.
With enhanced porosities of over 14% observed on wireline logs, which compares favourably to the A-2 well, and with the oil water contact yet to be encountered, the Kirkham Abbey formation has been materially de-risked with evidence of good reservoir continuity.
West Newton B-1Z lies approximately 2.5km from the A-1 and A-2 discovery, confirming an areally extensive accumulation. As of December 2020, production casing is being run in preparation for well testing.
The latest updated hydrocarbon initially in-place volumetric estimates in respect of the Kirkham Abbey formation are:
Base Case:
– Liquids: 146.4 million barrels (“mmbbl”) of oil initially in-place (“OIIP”);
– Gas: 211.5 bcf of gas initially in-place (“GIIP”)
Upside Case:
– Liquids: 283 mmbbl OIIP
– Gas: 265.9 bcf GIIP
GaffneyCline, an international petroleum and energy consultancy, conducted a study on the West Newton field which resulted in an AA rating for carbon intensity, the best possible grade for low carbon emissions from potential upstream crude oil production. The study stated that the West Newton field has carbon intensities “significantly lower than the UK average and also compared to onshore analogues”.
If the Tanzanians believe there has been a legal transaction because CGT has been paid, then non-performance while we wait for confirmation could in the next year result in the withdrawal of the licences which constitute the main asset of Aminex. Surely that is a significant risk? No wonder there is now a deadline. Please tell me I am wrong.
Having held Aim shares, UKOG and others in the oil, gas and mining sectors for a number of years and watched them gradually fade away without paying a dividend, I thought I would change tactics .
Instead of gambling on successful exploration I would look for good leadership, strong balance sheet and a regular dividend in a company that was further along the road than UKOG. It might be a little boring but I would be spared the agony of seeing it fade and die. Well this was a few weeks ago and after holding my chosen boring share for just 3 weeks, out of the blue it received and accepted a cash offer at a 62% premium to the price I paid. I immediately sold and invested in a similar company. I still have a small holding in UKOG - old habits die hard.
I see a director in a similar business to UKOG has just bought £25k worth of shares in his company and the effect on the share price was electric. If only the same could happen here.
I meant to say 'this could yet have a happy ending in years to come for those buying up stock at a tenth of a penny at the close.'
This could yet have a happy ending
2019 here at last. What could possibly go wrong? Happy new year!
Have just followed the event report link below to the Avanti website. Very informative and demonstrates the huge opportunity the company has to turn itself around over time by delivering transformational facilities to nations.
The share price has been hammered into the ground but a substantial increase in sales revenue brought about by Hylas 4 could surely make a difference? https://www.avantiplc.com
Details at http://www.arianespace.com/mission/ariane-flight-va242/ Feel the excitement!
Avanti Gateway Earth Station Goes Live in MDXi Data Center Avanti Communications Group Plc (�Avanti�) a leading satellite operator, providing Ka-band satellite data communications services across the UK, Europe, the Middle East and Africa, has partnered with MDXI data centre, a subsidiary of MainOne, to host and manage its in-country Gateway Earth Station (GES). The partnership has already delivered the commissioning of Avanti�s first GES in West Africa, hosted at MDXI�s satellite farm in Lagos. The project, which has seen Avanti invest up to USD 20 million in the Nigerian Gateway, will ensure data from the HYLAS 4 Ka-band satellite is delivered efficiently in-country and interconnected with other networks.HYLAS 4�s High Throughput Satellite (HTS) connectivity will complement the country�s existing fibre-optic networks, ensuring availability to high-speed internet is everywhere, even to the most remote and rural locations. Applications supported by Avanti�s 3rd Ka-band satellite include satellite broadband services for homes and Small and Medium Enterprises (SMEs), rural schools, large enterprises and government agencies and cellular backhaul for 2G, 3G and 4G mobile networks. Avanti already has an established track record deploying such services via existing satellites across East and Southern Africa as well across Europe and the Middle East. Avanti�s efforts in Nigeria will also include the deployment of its Every Community Online (ECO) initiative, which enables Wi-Fi hotspots in schools, communities and government agencies, especially in the underserved and remote parts of the country where power availability and connectivity services remain a challenge. In addition, the satellite operator will take advantage of MainOne�s extensive coverage to extend its market reach across nine countries across West Africa.
For balance, have just been on the companies website - a few changes since I last visited. The video is inspiring and the next launch is scheduled for March 2018. Perhaps news of possible orders from the recent Nigeria Com 2017? http://www.avantiplc.com/
HYLAS 4 Launch Update Avanti is pleased to announce that it has agreed a Launch Slot for its HYLAS 4 satellite with Arianespace beginning 1st March 2018. The intended launch configuration for this slot will enable additional fuel to be embarked upon HYLAS 4 enabling it to reach geostationary orbit approximately 90 days earlier than would otherwise be the case. Therefore, assuming the current launch manifest is maintained, HYLAS 4 will achieve geostationary orbit at approximately the same time as the previously announced launch date. Consequently, HYLAS 4 revenues would be expected to flow from July 2018 as previously planned. Furthermore, this configuration also provides a lower mission risk profile and enables sufficient fuel to be embarked to support the satellite for up to 19 years in orbit, an increase of 27% over previous expectations.
I had to look it up: Defenestration is the act of throwing someone or something out of a window. The term was coined around the time of an incident in Prague Castle in the year 1618, which became the spark that started the Thirty Years' War.
Thinking about the new share issue, it occurs to me that as theses shares are being presold to MNG for cash, mathematically my shares have not lost or gained value. Furthermore these new shares are to be held to give their new experienced owners control of the company - they are not available to the market and likely won't be imho until they have risen through the success of the enterprise. Therefore the issue by itself should not be harmful to the share price until dividends are taken into account. I suspect that will be a way off yet and when they come it will do wonders for the share price anyway.
Does anybody know where we can find a copy of the Arbitrators Report giving the reasons for their surprising decision to dismiss our claims? If not is one expected?
New Year's Resolution: If ever I see a statement again like the one below issued by Oxus on 30 September 2015 I will sell immediately - "The directors remain confident that the Arbitral Tribunal will, in the very near future, rule in the Group's favour and that fair compensation will be awarded for both the AGF and Khandiza mining assets, which were blatantly misappropriated by the Republic of Uzbekistan. In this respect, the Board will continue to take whatever steps it deems necessary to ensure the return of value to the Company's long-suffering stakeholders." A happier New Year one and all.