Member Info for gordon1237

Those numbers confirm the " guesstimate" of around £200k per month ig cash burn.

That ud excellent news. They actually say they have enough cash gor the next two quarters. So another 5 months from now. That takes us to the end of March.
The only other thing I can see is they now say 3 to 6 months for the farm out process.

Yes, another 7.5% over the next two days would do nicely.

Thanks Eagle. A good summary. You put it better than I did myself. Atb.

Meanwhile it's nice to see another little rise. Long may it continue.

Thanks LexyLou. Not sure what I have said today that is negative. Perhaps it is the scientific training but I like to look at all aspects of a situation. Can't see the point of presenting half a picture. There are pros and cons in almost any situation. Overall I think there is a good chance that it will all come good and we will make a few quid but to pretend it is 100% certain would be foolish. Nothing ever is. Maybe that's what you mean by putting something negative at the end but it's not intended like that. If it was say 90% certain the price would already be multiples of what it is. Atb.

So much for my theory that an interview and rns would boost interest. Lol.

Also, presume they will comingle with C-73 at some point.

No not to be sniffed at. Might, together with the gas, go up enough to get close to break even. Should become irrelevant once the new wells on virgin turf are up and running.

You can't go off what it says on this page sausage. If you try dummy trades the real spread is much less.

Sausage, you read my mind. Not sure if it has the same composition as normal crude or sells for a similar price, which is around $85.

BTW. In August you agreed with me that it was surprising that others didn't see this as a good bet.

Just to be clear, although Roland talks about the condensate " inhibiting the gas flow", once they perfect it's removal, it will provide a significant increase in income.

Bigpecs. What a load of twaddle. Anyone who has been here for any length of time knows that is rubbish. An agenda, up to no good? Just plain silly. In any case if you read my posts over recent weeks and months you will see that I have been largely positive. As I have said many times before anyone who thinks the SP is affected by what is said on here is delusional.
There seems to be a school of thought that if you are only 90% positive, you are actually negative. Lol.

Just been looking again at this video about production tubing which somebody posted before.
https://youtu.be/2wLavr_Ns4k
Thus makes me think that I was right the first time. The whole purpose of the production tubing is to increase the pressure and force the liquid and gas up the smaller diameter tubing. That then will be the diameter of the liquid column. In many cases they install an annulus around the production tubing to prevent flow up the outside.
If you listen ti Roland's interview he definitely seems to regard the condensate as a problem to be overcome. He talks of it " Inhibiting the gas flow".

Hopefully, the next update will give a further increase in both gas and condensate which will encourage potential jv's.

Jack. Since the condensate is being removed via the production tubing, I would have assumed it was the diameter of that that would be relevant in the calculations. However, if you are certain that is not the case, I will take your word for it. Don't think any of us are expert enough on this.
LexyLou. Why is calculating the volume of the condensate column, pulling anything down? I was merely trying to make an honest assessment of it, which if Jack is right may be on the low side.
As I said in the last part of the post the volume of the column is largely irrelevant, it is the rate at which they are producing it that is important. We actually know this rate, at 17 bpd, so there is no need to speculate. How is it being negative to say this number will likely increase in tandem with any increase in gas flow rate?

If you calculate the volume of the column based on the production tube diameter of 2 and 3/8 inches and length of 1450 metres it comes out at about 5200 litres which is about 33 barrels. I guess the value is more about the rate at which it is being produced.
We know that the latest flow rate of 0.276 mmscfd
was producing 17 bpd of condensate. Presumably, any increase in flow rate will give a proportional increase in condensate rate.

Couple of 9 million buys. Nice.

It is pretty much old news with the occasional small extra snippet that occurred after close date, in this case 30th September. Plus detailed financial results. I am certain any jv news will be in a separate rns.