Member Info for gordon1237

Yeah QS. If only!! Atb.

Exoil?

Rumour has it they're cooking with gas in the staff canteen today. Lol.

Hope so. Atb.

Just noticed this bit on the report.
" The transfer of the equity to Oilex only requires the final approval of the Government of India, which is expected within the coming months."
Really hope that is a historical comment from the period of the report, the end of June and not starting from now.

It was a great film as well Callum. I mean the 70's original with Steve Mcqeen not the remake. Good luck.

Good luck Callum. Let us know how it went as soon as you can. Atb.

Looks like we have the answer to our earlier speculation as to what is expected from restarting the old Wells.
"Oilex expects to obtain a new environmental clearance from the Ministry of Environment and Forest and Cabinet Committee to supersede the clearances already obtained under the previous regulatory requirements, which will allow the small scale gas production to re-commence from the existing C-73 and C-77H wells. While production rates are small, the proceeds pay for field costs."
The answer is not a great deal. Oh well, a contribution to costs is better than nowt. Atb.

Hi Vf. I don't think Roland can ever really say anything not in an rns. Have you been in touch yourself? Although, I'd love to know if the intention is to try the new methods on the workover of 77h.
It's hard to imagine what could generate enough cash to avoid a jv. Anyway Roland had said that's the way they are going. Atb.

Two new horizontal Wells will cost around 10 million usd, maybe more. If they sell say 40 % to a jv, not only will they get the cash, their share of the drill costs are reduced accordingly. I would think they would struggle to raise that sort of cash through finance. I suppose it's just conceivable they could do it if they were able to demonstrate the success of the new techniques on the workover, as we speculated earlier. However, Roland has indicated that it will be a jv and we assume he's on the best position to know what's possible. Atb.

Pretty much the same questions as me Jasper.
As regards 77h it was with fracking in its previous life, but not very successfully. My question was is technically practical to use the new recommendations, especially in the workover. If that worked early next year, they could get a much better deal in a jv. Perhaps you could ask Roland if you contact him again?
I asked a similar question last week about mature gas fields. Don't understand how you make cash out of them except over a long period. If you pay say 5 times the annual profit, it is at least that before you even get your money back. I'm sure Roland knows what he is doing but it would be nice to have it explained. Atb.

Something just occurred to me in the light of the latest rns. Taken 3 days, must be getting slow. Lol.
Until now I have been assuming that news of a jv would follow hot on the heels of GOI approval. However, since drilling of the new Wells isn't going to start for at least 9 months, I guess that doesn't necessarily need to be the case. Indeed, if they do try out the new techniques on the old well(s), as mooted in my earlier post, and they are successful that could hugely increase the value of whatever % they sell to a jv. Just a possibility. Atb.

Hi QS. Yes it will be interesting to see the flow rates when they restart the Wells. Pretty sure they were shut in due to very low and declining flow rates rather than the dispute. They mentioned that the shut in will have produced a build up of pressure which will enhance initial flow rates.
Until the latest rns, I didn't think they intended to use the new methods on the old Wells, or even if that was possible. Not sure of the technicalities. However, in the rns they said they were planning a workover of 77h in the new year. Wonder if that might include the new methods. If that was the case, and it was successful, it could give a huge boost to the sp ahead of the new Wells later in the year. However, if this was the case, you'd think they would have mentioned it in the rns.
Jasper, perhaps this is something you could ask Roland if you get to speak to him again. Seems pretty crucial t o me. Atb. Gla.

Wonder why it stars out r****t but allows the rest. Lol.

Yes Alan. That was Macca 656. Not only was he a lunatic, he was a ******, islamaphobic, homophobic and all round obnoxious git. Not convinced anyone would pay these people. Atb.

Me too Bluehope. Oh well, hopefully another opportunity. Atb.

Why stop there liquid? It's really, really seriously undervalued compared to BP or Shell. Lol. Atb.

Wow. Well done Bluehope. Didn't realise it went that high. Based on all the sp surges this year I think we can be pretty sure the peak will occur within 1 to 2 hours of the rns.

Thought you would be back in pretty quick Conger. Timed it really well. It was always pretty obvious if you read the rns properly that it would fall away pretty quickly, and was a great opportunity to get out and back in at a lower price. Would have done the same myself if I hadn't been out of the loop in Cornwall.
I would imagine there might be another opportunity to do the same when GOI approval comes through. Although the danger there is getting caught out and not getting back in cheaper, if it is quickly followed by jv news. Atb.

Not impossible. That's if you're talking say 365 days. Lol. Atb.