Member Info for gordon1237

So it was. Didn't notice the second page. Doh. Lol.

Good find prowler. Strange that wasn't in the rns. Was hoping for a bit of excitement. Oh well back to sleep.

Theories anyone? Takeover?

Trading halt on asx pending an announcement. Blimey!!??
Gla.

Just done some dummy trades. Buy is 0.100,sell is 0.0989. The spread is only just over 1 %.

Talking of bonkers. According to syn share news on this page, 77h is producing up to 275 million cubic feet per day. If only! Lol.

Didn't know you made jigsaws Vf. Lol.

Yes significantly sounds significant. If/when it works we will hopefully see a significant rise in sp. Gla.

Sounds promising. They have engaged someone specifically to engineer a solution. Going to take a while.

Why?

Yes, we certainly need something to stop the rot. Of course Roland won't be sitting on his hands, but those hands may be tied by circumstance.

Thanks wwal. So Republic only hold around 14%. In theory anyone could build a stake, but we would soon know as the sp would rise considerably.

Agreed Conger. I certainly wouldn't have reinvested at an average of 0.19 (0.13 if I deduct my previous profit) if I thought it would drop this low.
I wonder what % Republic and other major shareholders hold?

Yes Alan, but even if that intrinsic value is in the hundreds of millions, someone could get it for much less via a takeover. Mind you an attempted takeover would push the vakue up a fair bit.

Conger. Said that some time ago and was told I was talking nonsense as the asset was worth hundreds of millions. I feel that if someone paid even 5 million for 50% it would still be possible to move forward with the first well. That amount should be enough for 50% of the drilling costs. If that us successful, everything changes from there.

Yes Conger. Agree with all of that. It seems like nothing they can do or say, has any effect on the sp.
As if to emphasise that, we have yet another drop.

Meant to say that a progress rns would be very welcome.

Sausage. Baffled by this outbreak of hostility. Thought we were broadly on the same page.
I strongly object to this
" Or are you just making up like your other claim "They did tell us the plan in the last update." Before you acknowledge"in broad terms only,"
I certainly didnt make anything up. I genuinely thought you must have missed the plan in the update. What's wrong with knowing in general terms that they plan to try to remove the fluid by adding a pump to the string? Surely we can trust Roland to know what he is doing without being told every little detail? The condensate has caused unexpected difficulties. Reinstalling the production tubing didn't work, so let's hope this does. However even if it doesn't, Roland has said that the current rates are viable with enough zones. Any improvement would be great, both to increase current cash flow and impress potential jv's regarding the potential greater flows from new wells.
They never seem to have really known what the final flow rate will be. They originally set a refrac target of 2 mmscfd from the two zones. In the April Q and A they said 0.5 to 1.0 mmscfd. In my August email exchange with Roland he said
" I truly do not know what the full potential of the two fracced zones is going to be until the frac fluid is flowed back and we have the production tubing re-installed."
Or are you going to accuse me if making that up as well?
The refrac had an initial rate of 0.5 mmscfd before being inhibited by the fluid, so you'd think they would be able to get back to that at least.
Not sure why you are attacking me over potential time scales, when you seem concerned about long lead times yourself. We this can be a problem from how long it took to secure the frac equipment. They didn't mention it with regard to the pumping of the fluid, so I was assuming it wasn't an issue.
It could be an issue with the new wells which was partly why I was suggesting a possibility that new wells might not happen in Q1. Also, I thought they were hinting at further delays in the quarterly report when they said the jv might take 3 to 6 months.
It's not impossible it could still happen in Q1, if a lot of things go right. For example, we could hear this week that they have successfully removed the fluid. Then maybe before Christmas that they have a jv. Then maybe the GOI will approve the jv quickly. Depending on those lead times it then wouldn't be inconceivable that it could start in Q1. Like I say, a lot of things need to go right. I really hope they do.
To summarise, I am still fairly optimistic that it will all come good in the end. However, time scales have constantly slipped (often through no fault of the company) and that doesn't seem to be changing.
Finally, please don't compare me with that other person. The last time he was regularly on here he was incredibly gung ho about the future and sagging off anyone who was less than 100% positive. Now we hear he has sold up. Nuff said.
Atb. Gla.

Sausage. I thought you were saying that they had said nothing about their plans for removing the condensate. Not sure we need any more info than that they are trying to pump it out..
Re your questions.
1) See above
2) Agree it would be good to know how long this will drag on fore. Looking increasingly likely there wont be any new drilling in Q1. Happy yo be proved wrong on that.
3) Doubt they know what the final rate will be. They have said as much previously. You'd hope it will increase. After all when it was 0.5 mmscfd they said it was inhibited by the condensate.

Sausage. Admittedly, in broad tetms only, it was in the 19th October update.
" A pressure gradient survey has revealed the presence of a c. 1450m column of gas condensate in the wellbore which will have an inhibiting effect on production rates. The Company is currently designing a revised completion string incorporating a downhole pump to lift fluids from the wellbore and to enhance production rates. "