Member Info for gordon1237

Just what we were waiting for. Nice to see someone sharing in the company's success.

I admire your efforts at persuading yourself to feel optimistic Espen. No sure it's working though. Lol.

I am sure that Roland must be sorely disappointed atvthe dismal rate og progress by Selan. It is now almost a year since the jv was announced on 14th February and a few days later on the 19th he had a relatively upbeat interview

with Zak Mir. In that he said that the long stop period for the work programme was 18 months from GOI approval but that they thought it could be done in 12 months. Approval was expected in a matter of weeks. So on that time scale the programme would be almost finished by now, instead of which it's barely started. Ok, as per usual, approval took a lot longer and the WP period only started on 1st August but that's still 6 months without a great deal to show for it.

0.0468 to buy and 0.0454 to sell 10 million.

Depressing or what ?

Yes. Thanks VF. Glad someone gets their emails answered.

It seems obvious that Cambay isn't exactly a priority for Selan. Wouldn't be a big surprise if the finish date for the WP went beyond a year today.

Crusty. Roland did say in the interview that there would be a hiatus until March when a new rig arrived.

Currently 0.0472 to buy and 0.0460 to sell 10 million.

Crusty. Don't think Selan are at the moment partners in Cambay CCS. It said somewhere that the agreement included an option to become a partner.

Crusty. Very hard to see how Cambay CCS could be be transformative in any reasonable time frame. I mean we're taking into the 2030's for any return on UK CCS if it ever happens. As for India they've talked vaguely about a trial project and helping them with a regulatory framework. Just hope they're not spending much on it at this stage .

It is exactly one year until the end of the 18 months Selan have to complete the work programme.

" The WP is to be completed within 18 months of the later of GoI approval of the WP or the award of contracts for the WP, extendable by a further six months in certain circumstances".

Unless of course the " certain circumstances " clause" is invoked. Whatever that means.

In the StockBox interview he said " Two wells were worked over towards the end of last year " which implies C63 has had a month to establish a production rate.

The commercially recoverable reserves are an estimated 206 bcf. No question of any bonuses until well down the line.

The truth is that until the new wells are producing they have no idea of flow rates and even less of cash flow. The results could be anything from disastrous to fantastic. Hopefully closer to the latter. They have said a full field development will be 30+ wells.

The only possible " amazing results " would be fantastic flow rates from the new wells and we are probably talking second half of the year for that.

Sprint. Well yes, something like that would obviously be price sensitive and would be a great result as far as I am concerned. Hard to see why they would put that on the table at this stage.

Sprint. Again, why on earth would Selan require anything to be kept secret? No interest to anyone else.

Yes, I simply don't understand why they don't reveal everything they can. It's not as if anything they say would be of use to any competitor.

Kaltersee. Yes Roland seems very unsure what the total flow rate will be at year end. First it was 8 mmscfd and then a vague 4 to 6 mmscfd.

Also why couldn't we be told in general terms what they were hoping for from the workovers. C70 had previously only produced intermittent oil and now we are told it's gas producing.

Also, would it hurt to tell us what the Selan/ DGH meetings are about.

Thanks. Sprint. Ssccss . Crusty. You have listed all the things that I was thinking could happen which is why the market has no faith in eventual success. Of course none of that means success is not possible. Hope springs eternal and all that.

Ssccss . Sprint. Everything you say is true, given certain assumptions. So why is the market having none of it ?