Even water with dissolved Co2 should work in the present pricing climate, maybe they should open 16z. Given we are now in an official energy crisis with gas already stratospheric and oil heading to $90 according to Goldman the SP here is a sad indictment on the management.
What’s the chances of a farm out in the next 11 months?
% wise..
It won’t be a failure as in dry ( one would hope) as they are drilling a known proven field. It will fail on flow rates, if it fails, with water replacing oil. This is the reason the fields here were abandoned in the first place. 282 bopd is probably not economic (coffers emptying faster than revenue) so this needs to be a good one to enable a raise of capital for future wells.. or it’s end of drilling.
What would be a ‘commercial flow rate’ does anyone have an idea?
Without a CPR and diddly material information from the company it’s anyone’s guess. 300 bopd gives around $6-7 mm gross revenue but post ..OPEX, lifting charges and salaries there’s not much left if anything for new wells. I’ll say 350-400 bopd each year might work.
What’s the plan for growth here?
Surely the gas production will drain the field and the revenue will dry up. I wonder if there is a plan?
To be fair to AJ it takes fortitude to ramp a share all the way from 12 p to 2 p and still sound bullish about the future.. and expect anyone to listen.
The results of the next well will need to be carefully announced. It’s most certainly make or break. 300 bopd ( of oil not mud or water..) could save it.
They must have an idea of how the new well will perform by now?
Problem is that they are not very good technically as has been demonstrated by previous drilling so confidence is not high imo. Here’s hoping. A reputable CPR is needed to restore confidence.
Some of those Italian interpreters are paid up to 10 euros an hour..
Really, is this where this is at? GBP never had any contract on Italian licences so what’s the claim? They should try the.. old Rich Nigerian about to invest millions line like TRP have just pulled. Far more likely. Cash just being wired from the Delta as we speak..etc :-)
No chance.
It’s got another 12 months doing zip
Maybe get a tick up if Total ever mobilise the rig.
It does however have a 3D commitment to fulfil and there’s no chance of raising that amount of cash..and if a Major had fancied a farm-in it would have had 10 years to do so. So days are numbered for sure.
Namibia activity has more chance of pushing this up than mysterious Nigerian benefactors imo.
GBP next door is milking it I’m surprised it’s pushed more by TRP.
But AJ,, it is shrinking in volume. On the last count it was 282 bopd. That’s not bashing, it’s simply stating the reported facts and it’s misleading at best and delusional at worst to suggest otherwise. Constant desperate ramping and paranoid accusations ain’t going to help get this moving up, only reporting decent profitable production will help it.
And with this resolution hanging around it won’t raise money so they have to get it sorted.
I think you mean you’re a twonk not ‘your twonk? ‘ Unless that was your sign off astec?
Basher ? Right. I’ve been bashing all the way from 12 p to 2p whilst AJ has been ramping from 17 p to 2p I’ll let you make your own conclusions. Which retiree is non exec is irrelevant if production is sub economic and it’s not something they can hide for much longer.