Member Info for gordon1237

Sausage. They did tell us the plan in the last update. It would be nice to know how it's going. Hope it doesn't drag on too long and delay the jv process.

This demonstrates how the nominal bid and ask distort which trades are sells or buys. The real mid point is around 0.0986,not 0.1025 as shown here. Thus today's piddly little trades are buys not sells. Gla.

I've just done dummy buys and sells. I could have bought at 0. 0996 or sold at 0.0976. So the real spread is more like 2 %. Gla.

Wow. Bit of a lonshot beadle! Lol.

Yes Espen. I've got a double cd, the essential Leonard Cohen in the car. Everyone a winner. Hallelujah, First we take Manhattan, Bird on the wire and my absolute favourite, Alexandra Leaving. The lyrics of that one are remarkable, you can tell he was originally a poet. Really regret never seeing him perform.

happening. 500 shares traded!!
It's ".... dead as heaven on a Saturday night".
Closing Time by Leonard Cohen.
Cohen wasn't noted for his humour but this always makes me smile. Gla.
https://youtu.be/7-0lV5qs1Qw

Thanks Espen. A useful guidline. Not that much cheaper than my remembered figure. Mind you that was from a good few years ago and would no doubt be much higher now. So, reusing the existing facilities must still be a considerable saving.

Espen. I can't see anything on the website about the cost of new wells. From memory, at one time on the old site they said something like 8-10 million usd per well. However, on the current website, they say this.
" The Company plans to drill two new horizontal wells in H2 2022 which will employ the revised
fraccing methodology if it proves successful on the C-77H re-frac. The two new wells will be
drilled from the same drilling pad as C-76H and C-77H and will tie into the same processing
and grid connection pipeline. "
So by using the existing drilling pads and processing facilities, you'd hope the costs will be considerably reduced.
Yes, if they achieve the 4 mmscfd that alone, without the condensate would bring in around million usd per month. So yes, not too long a payback.

What notion?

He has done this before, disappeared and then come back. In the meantime let's be thankful and not waste more time discussing him. Gla.

Yes eagle. It's hard to imagine anyone would sign on the dotted line until they were absolutely sure what the stable flow rate was. In the meantime it would be great to get an indication of the level of interest.

Not sure what more anyone expected from a quarterly report. Any really significant news on a jv or whatever will always be in a separate rns. As it was, the numbers surprised on the upside. Don't think too many are exiting at the moment. Those that haven't already gone will probably, wait and see.

Really pleasantly surprised by how much cash is left and how long it is likely to last. And the market reaction?. ZILCH. Don't get it.

In my 9.16 post, I put jv instead of VF. Must have jv's on the brain. Lol.

Yes buci. Hadn't got that far. That gives incoming cash for the 3 months of A$ 84k or about £47k or £16k per month. Now things are settling down it must be much higher and increasing. Atb.

Agreed that's most likely the case Sausage. That's what I was saying in my 9.06 post. So that's looking good. Thought the market might have reacted more positively but there's time yet.

Jv. It's not come from my own mind. It's in the report that jv is expected in 3 to 6 months. Really hope it's sooner. Could well be December or even November. Presumably they have put that in as a worst case scenario.

After all theyvsaid at the time that the initial 0.5 mmscfd was inhibited by the fluid.

Conger. Yes, obviously the old zones will add a bit and you'd think once they get rid of the fluid it would get back to 0.5 mmscfd or maybe even more. Would also strengthen the case to a jv.

They don't say if the estimate of cash burn lasting 6 months takes into account expected income from future gas and condensate sales. If it doesn't then the cash could last considerably longer.