Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
That’s correct if they get a farmin partner to take 60 % and pay for a 3D before August next year they keep the licence.
But, if there were a farmin partner waiting in the wings, and he/she were a little bit cunning would they not just wait for GBP default and take 100 % in September?
I can’t believe NNPC would waste time trying to con companies into service contracts let alone broke companies
Very good video tbf. One could ask why they didn’t use the critical 3D data earlier? Still better late than never.
8 mmbo in the ground is however no good if it only oozes out at 30 bbls a day. Let’s see what the rate is.
But who were Zenith negotiating with if the block had been revoked in 2019 and was sitting with NNPC?
The licence holder must be the Nigerian Gov if they revoked the licence in 2019?
Given recent history on news I’m not sure having more of the same in December is justification for a sigh of relief.
Only light is that the next well is definitely the last of this phase. If it’s 500 bopd then all’s well otherwise it’s all change.
Everyone else at this end of the market promotes stuff using CPRs. They can then use it to farm out.
The asset can’t go from promising to worthless in 2 years the only thing killing it is the clueless operator and nobody believing a word they say. Who drills wells at 100% with £2mm in the bank? It’s nuts. Probably be about £50 k for a CPR maybe a bit more but has to be worth it.
The only thing saving this from sub penny territory is a valid CPR from a credible independent auditor. If GCA or ERC ? think it’s viable and the reserves are real then it might move up.
Clearly nobody believes a word coming from the Management so RNSs have no value.
Blimey, if that’s true and was known before the raise? It’s surely curtains. No announcement yet?
This will undoubtedly drop below 1p before we get news of the next well or sidetrack so best to either sell or ignore the moaning before there’s some proper information. AJW sold pis up the swanny so it’s too late to change the past.
Aje participation or doing anything with Baracuda means raising millions maybe 10s millions. How’s that Going to happen? they can barely raise 500 k.
I don’t think they are quite at the stage where they need to hawk their equipment down at the local Tblisi pawn shop.. not quite. I’m talking about debt based reserves lending. It is t now all down to this last well.., it’s a very brave bet with the last bit of the cash cos if it’s also dud there’s no floor here. So let’s hope they get the Goldilocks zone. Better still a farm out before they blow it.