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My limited understanding is that an estimate of 10m of pay was assumed in line with T1 , so 8.2 was smaller. Not sure it that is going to matter. The flow of 100 Bopd is low too. with a 20km plus pipeline needing to be built, ouch, The H well will clearly help greatly and should take this to 250 Bopd. That will generate a $1m a year normally, again I am far from an expert on this…. I am guessing that todays RNS is just ok, the figures are lower but a result is a result. Kev ?

Is this something to be 'pleased' about.? I was thinking that 170 was a target flow with the H well, bringing it to 500 bopd. better than a dry well, and its at a depth that was expected, but I think that for rate looks lower than expected …anyone ?

PTR sells in domestic market and I wonder is this more insulated to international prices. But as Bob says…. we can only deal with today.

My thinking is the market will judge this entirely on the drill results moving forward, that said we have several exciting years of fully funded drilling. It's also good the Oil India are on top of things.

News expected in the last week of October, They started drilling Tungolskoye in the last week of Aug. It is expected to take 60 days in total, including a 300m H well. The V well must surely be cored and tested already but no information has been released. !!! but that's PTR all over, I know privately engineers were quietly optimistic at the AGM. Lets see. Not too long to wait.

I was the Managing Director of a company that was opening an office in Spain about ten years ago, and I had to travel there many times to prepare the setup.The Spanish are not laid-back in a personal way,, but when it comes to local government , they have realms of bureaucracy like you could never imagine, They love to cross the Ts and dot the Is - to the extreme. the employment laws are like contracts for life.

nobody knows how long - but I gather before Christmas and hopefully sooner . If you whinge at all you get bottom drawered ,How companies survive is incredible but nearly there !

JPM.. That information on Tues that the process was complete was new, today is the first day they announced it, unless you have seen something I didn't. Either way it was only a small hurdle but at least its cleared. It could be a month or two before the concession is granted.

Thanks guys for for your trust…..here it is….RNS confirms the review is over. ""Saloro was advised that a legal review of the status of the historic mining concessions in the Barruecopardo area was to be completed by the Regional Authorities as part of a process to ensure that the new mining concession is valid in all respects. As the initial step in this permit review had not received responses from all contacted parties, the Legal Department deemed that this step should be repeated, which resulted in an unexpected delay as announced by the Company in July 2014. However, Ormonde now understands that the review has been completed, which should ensure the granting of the Mining Concession is imminent. ….

in 30 words……Six months Oil India did more due diligence than you or I could ever dream of doing and they valued the shares just above 9p= they were also negotiating and buying in a fire sale situation from a position of strength, They thought it was worth it at 9c. nothing has changed since then other than the shares can be picked up for less then they paid.. up to you. I am holding. fully loaded myself and showing a slight profit GLA

My estimate for the first possible production is the first month of 2017, if we are lucky, probably the spring of 2016. hope you can wait. That's when this share will peak. In my humble opinion. The mine will take 14 to 16 months to build and get operational, maybe December 2015 but I doubt it. the granting of the concession will help a little, as will financing, as will every little step of progress, but once it is in production it will be a cracking little asset. GLA. as for the short term. I think a lot of the recent rise has been factored in. I have as much as I want now. Holding until 2017.

pretty meagre report, and T5 is NOT jointly funded. Oil India are funding that.

at the ago it was estimated that T5 would/should 'easily reach 500 a day' . I think that was a side conversation that someone else posted but I thought it was 100% at the time. so that will do it.

Thats MM transfers or just a order bundle, nothing to be concerned with

I was told there was absolutely no indication on the date, no mention of October. Very very firm on that point. The only word was 'shortly'. This I believe is accurate, and there were no issues with the previous owners, I was told that clearly. Time will tell as you say GLa

I have not seen the Spanish one. I can only tell you what I have learned and I got my information from a source that is accurate. I did not ask permission to reveal anything that could identify them so I won't . But it was conformed that the second round of 'previous concession owners correspondence is complete and there were zero issues'…we were never in contact before, but I do trust them .TLA and DYOR,

Just got word that the Spanish review process for seeking out the previous owners is over and there was no problems reported back , they originally wrote to them and got no reply, the Spanish decoded to try again and give the additional owners more time to come back…. and the word is good, No news back and no issues, and as I understand it the process is now complete. So unless the Spanish authorities come up with another hurdle the Mining Concession will be released ….'shortly'.

the great news, after all the years Ormonde are nearly there….. Hip Hip ??????? wait for it…….

sadly Spain is an investment write-off in y opinion the employment laws are soul destroying too. Once you employ someone you may as well have adopted them as your grown-up dependent child, Beautiful country but lost in a bureaucratic time warp from the 1960s. I nearly set up a business there about 10 years ago….thank god I declined.

I have a holiday home in Spain, someone stole the water meter outside the home, how anyone could want such a device is anyones guess, however to get a new water meter installed the water company requires that I present the deeds to my home…..suffering Joseph !!!! The deeds are in the bank, I have a small mortgage left on it….what a complete nightmare…. anyhow they suggest I get a lawyer to get the bank to dig out the deeds, it's a luxury new home on a Golf Course for gods sake…. so now I have to employ a lawyer to help me get a water connection. This has been going on all summer. This is in the same area as the Ormonde mine. This is the madness that is Spain …..now can you imagine what Ormonde is going through here…. I am in Profit on this share, I feel for those who are not because it bugs me.