RE: Maybe Blaim Thrower should stop waiting for FOMO6 Nov 2022 15:31
Fish,
What you need to consider is how much further down the road UOG are, then when the last ASH well was drilled.
It has not been plain sailing, but when you consider Egypt cost them 16m USD, they now only owe 1.7m and then its fully paid off..
Production on Abu Sennan is about where it was when they acquired it, this well will really help boost levels assuming it comes in.
The taxation position in the North Sea, where you can avoid paying the windfall tax if you make a capital investment (well 90 % of it ) makes drilling on Maria very attractive to a player needing to pay that particular tax - as it basically makes the investment free!
Jamaica will or will not come to a head, who knows, if it does, the share price would probably at least triple on the news they were going to drill Colibri. I am not banking on this at all, but if it happens, bring it on.
And before the year is out, UOG will drill the largest exploration well they have ever drilled targeting 8m P1 barrels. Thats straight after ASH, if that comes in on the back of Ash, 6p will be blown away.
Could well be a great end to the year...
In terms of Ash news, I think from tomorrow onwards every day is a potential news day, I strongly suspect flow rates are coming this week. Sunday is a working day in Egypt, hopefully the testing is done and they are de rigging to move on to the next drill and hooking ASH 4 into the in place production facilities.
That's the other great thing here, all of the infrastructure is there and ready to go, we find oil , there are no big costs to plug it in and start getting revenue. Utter steal at around 12m mkt cap..
GP
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