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Morning Planted,
Have a good trip up north in your truck by the way does your truck float? If it does float these shares north for us would you? Safe journey, G
Just a thought maybe PlantedBHA is there??!!
Agree everything is being choreographed
G
Hi CaptainSwag,
I agree on sentiment - weirdly, that's partly why I thought it might happen - someone has their eyes on the entire prize and one way of doing that at great value would to be continue the attack agenda with an un-certain board being negative and then manoeuvre Lincoln back in the fold depleting HUR cash/attention and then pounce for the whole lot with HUR having done all the R&D - warts and all discovered. I think that if i had the brass and wanted the whole lot - that's what i might try. G
Would it surprise anyone if Lincoln was sold back to HUR by Spirit? A single pound would be value.....
By the way, I notice the absence of PlantedBHA - so does the moniker have meaning or is he driving his truck somewhere with no 4G.
G
Also added at last seems to be better plan after years of attempts in NZ. I'll be fascinated by any He news in the Northern Territories - they've had that permit since the start of time! We could be filling balloons if there is news......G
Come on Planted let's see the nature of your truck - I'm intrigued and ADUK will be too although bear it in mind that he will only get interested if it's a V8 or bigger - have a great weekend all, G
Morning ADUK,
Maybe Planted's slow truck is a sea faring truck, in which case he could be quite a speed merchant, well that's relatively speaking! G
It's called Chairman's maths - stop being rude to Chairmen! Although I do agree my numbers are simple arithmetic. What attracted me to responding to Planted's "fantasist" post was that he got the timing and content of his posts on target before the last RNS (slow drive to Aberdeen etc) so maybe the clue is in the moniker.....and he does know what we don't, always an interesting position to be in.
Taken from the RNS on 19th March reviewing the full year results:-
"However, at our guided production rate of 18,000 barrels of oil per day (which includes a 90% uptime assumption) cash operating costs are expected to be approximately $17 per barrel"
Then Gross Income at your (ie. PBHA's) 19kbbd at $40 = $250
Gross profit using this is $143m (not sure on what Overheads are in the current regime) so say $100m in the bank per annum
Still very good - interesting share price - at that level of cash generation and a total recoverable reserve likely to be well over 80 yrs long at the current extraction rates - obviously needs more capex to do that but that's not new.
$294M at $50/b
That's equivalent to $235M income at $40/b and 85% availability at AM - not bad at all - maybe even world class!
I hope that ADUK will look at this - he and others here have detailed hard copies of their research from the period of the companies listing and are most likely to be able to assess whether you are or are not barking up the wrong tree with regard to OWC etc, etc and after performing more sustained testing surely the company will spend a few quid on a revised CPR to allow a proper re-evaluation. They should promptly indicate to us when this will be available, if not the Board will not have my trust and frankly they have yet to earn it after the recent behaviours, G
AGM 6th August - agree re voting look at the motions and make your choices - I have just voted against just one resolution as i don't want another "rinse and repeat" to quote one of you earlier today. A capital raise to accelerate production is a good thing with earlier results, that's my judgement anyway. G
Hi ADUK
good to see you are still here, any thoughts on the RNS from your technical perspective?
.......maybe Planted does have a slow car bet your trucks are faster than his vehicle! G
Thank you to the person who recommended this as a background read.
https://www.reuters.com/article/us-usa-shale-water-kemp/water-is-the-biggest-output-of-u-s-oil-and-gas-wells-kemp-idUSKCN0J223P20141118 .
The article is a summary piece by Reuters developed from work by Argonne ( a very highly regarded national lab in the USA) and puts in to perspective by comparison with other wells the low expectations HUR must have had from the initials drilling days for water cut as a percentage of production and that HUR were sufficiently confident from the initial well data to design of the AM process flow sheet to cope with it being such a low % of produced fluids from the wells in Lancaster.
Although this thread (which I have read from its inception) is a most valuable debate it does not detract from the underlying fact that the Lancaster field and the Rona Ridge as whole is truly a "world class discovery". Perhaps we do need to remind ourselves of that and inspect in detail who (the why is obviously money) is manoeuvring the SP. That's where the battle is and then question can it be won by those of us who are watching from the sidelines with relatively modest sums invested.
By the way I think the next RNS will take a bit longer to produce to allow for analysis of data after the max 2 wks test/commissioning period, that period should be analysed to see if we can identify from trading who is pulling the strings in what direction and why - the Board who have a duty to everyone of us in equal measure or another party........ Best, G
DC: Class response!