Member Info for gordon1237

I won't be selling any of mine either VF. However, there are some areas of concern, which explain the obvious doubts of potential investors.
They weren't expecting to have to install the production tubing just to remove the fracking fluid. I am certain they would have mentioned it previously if that had been the case.
There was no improvement in flow rate between 10 and 50 % of the fluid being removed.
They have yet to get anywhere near the stated refrac target of 2 mmscfd. When I asked Roland about this he agreed but said 0.5 mmscfd from the refrac would equate to the required rate of 4 mmscfd from new wells, which was needed for commercial success. That being the case, why give the much higher target in the first place?
Now personally, I can't believe Roland would say the refac had demonstrated a commercial methodology if he didn't sincerely believe it. Wouldn't be good for his reputation. Might have been better if they hadn't given that target in the first place. Would be fantastic if they did achieve it.
I remain hopeful but self evidently " seeing is believing" for most people.

Lol.

So Bigpecs, where do you see the SP muscling itself too by, let's say a couple of months time?

Yes, agreed. I think it is a good bet from here. I was just looking for reasons why others don't see it that way, which self evidently they don't.

BTW. Personally from an investing point of view, I have no interest in CCS. That's 4 or 5 years down the line. Too long for a septuagenarian like me.
Great for the future of the planet though.

VF. What I said was that a potential investor would see a litany of delays. Be honest, in April last year did you really think it would be the best part of 2 years before we saw any new wells? As I said, before I think there is a very good chance of it moving forward with a good jv deal etc. However, any self respecting investor is going to check on past history. Self evidently, from the recent sp action many have doubts. I sincerely hope that changes soon.

Yes, that would be great. He certainly sounded confident in the last rns and my email exchange with him, but you always get a better feel when you actually hear someone speak about things.
I too am reasonably comfortable with my investment, even though it remains a punt until we get that all important final flow rate.

VF. Are you saying potential new investors wouldnt/shouldn't look at what has happened over say the last year and a bit (and longer term) to get a feel of whether it's worth investing. Yes, its the future that matters, but it's only by looking at the problems thst are hopefully being overcome, that they can an informed decision. Agree that a few more weeks is nothing. Atb.

Hi Espen. I think the problem is, there may have been a name change but all potential new investors see is the same old, same old. Delay after delay after delay. Virtually everything that has happened since April 2021 has taken vastly longer than anticipated. Remember the flack I got around the middle of last year for suggesting that no new wells would be drilled before 2022? Now, if all goes well it's 2023.
I know a lot of the delays were beyond the control of the company but everything serms to take them by surprise.
There is still a very good chance of it all coming good this year but it is easy to see why people are cautious. Gla.

Hi Jack. Yes, I'm sure that's right. They say reinstall the production tubing, so I assume they still have it from the previous production . I guess they were always going to have to use it at some point but it looks like it's earlier than expected. Atb.

The production tubing is not being installed until earlly September so we must ne looking at some delay.

Nice uptick. Would imagine we're lopking at mid September for any significant news.

Espen posted that last week.

That's a much better title. Nearly time for a wee drop of Laphroaig. Good weekend everyone.

Well the options are 50% higher than the current price and they've got 5 years to achieve that price. A no lose bet for the bod.

fjones. Not sure what you mean. The board hasn't mentioned a problem with water, so why do we need to assume there is a problem and they are not telling us? There is a problem with the refrac fluid which looks like being solved. I do agree that it is the current situation that is affecting the sp, not anything said on here. Atb.

Never understood the need to vilify someone just for having a different opinion to the majority.
You must admit Wolf you haven't posted much on here for the last year or two. Beadle has been a tad more frequent.
Not saying I agree with beadle about being lucky to see 0.2 again but over the years his pessimistic views have been closer to what actually happened than most. I remember the vitriol he got when the sp was in the mid 0.2's and he suggested it would go below 0.2. It eventually bottomed out at 0.06.
I think if we eventually get a great stabilised flow rate from the refrac we can hope for considerably more than 0.2 but can't see it going into pence in the medium term. Won't say never, because if Cambay is a success it could finance Roland's CCS plans. That would be a good few years down the line and too long for an old git like me. Gla.

Whilst it is obvious that the removal of the frac fluid is proving more difficult than anticipated, I see no reason to assume that water production is causing problems. If that was the case they would have to mention it in the rns. They talk specifically about frac fluid which is not the same as water.

Hi Span. Long time no hear. Yes, you could say history is repeating itself. Hopefully, like Groundhog Day there will finally be a good outcome. Atb.

VF. Please read my post properly. I was actually saying that all seemed positive, with the one proviso that nothing is certain until we see that final flow rate. I was merely pointing out that, self evidently the market doesn't see it like that. Atb.