George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
The first well on the Lease (the Grant East #1) is planned to test the Clear Fork (primary) and San Andres (secondary) formations, both of which are prolific producing formations in the area. The Clear Fork contains three distinct members (Upper, Middle and Lower) which are located between 2,500 feet to 3,200 feet below the surface. All three members are productive in offset acreage and targets in this initial well. The Grant East #1 is anticipated to take approximately 7-10 days to drill and complete if successful. After completion, the well will be fracture stimulated to enhance its productivity and then tested, prior to being placed into production. From spud to production start-up is anticipated to take between 30-45 days in the success case.
Nostra Terra benefits from operating in this area for several years, including drilling the "Twin Well" near this acreage, which reached payout (where the full cost of the well was recovered) in under a year, during a lower oil price environment.
Matt Lofgran , Nostra Terra's Chief Executive Officer, said:
"Nostra Terra finished the year in a strong position. The Company is cashflow positive to the corporate level and have multiple wells planned to drill throughout the year, all funded without need for dilution. We anticipate these wells having a strong contribution to cashflow after allowing for further investment for growth in other areas.
In addition to this we continue to work on additional opportunities in other areas of the world that we feel could have a large impact to our growth."
Production
During the fourth quarter net sales were approximately 10,885 barrels (100% oil) resuting in approximately $767,000 of revenue. Average realized sales price for the period was approximately $70 per barrel.
At $70 dollars a barrel.
Weathergeek we had Covid and Greensill. Funders ran a mile. If you bothered to read the prospectus from 2019, Q1 2022 was remarketers which has been done. All KPIs have been done. What are Az new ones Financial mostly I would imagine.
Rosie youre not invested either. Not a good word to say another person who lost their money i presume? You dont waste time on a buletin board for fun do you? Or just here to educate all us shareholders about your not owning shares.
Castle we all know the accounts will show a loss. Its the forward looking statement and the strategic review we are looking forward too. This year 2022 is the deffered income from last year. As outlined in previous RNS.
Yes the more trolls post the more anxious they look. Lets post every bad angle, no positve posts or balanced arguments. Covid and Greensill have delayed Syme due to funders messing about. Not Az fault.