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Thanks very much for sharing gmcc, lots of nods and winks there. The fact that he talks about positive economics of Djeno, topside facilities being able to handle it and that he calls delay in fracking equipment 'relevant' is also interesting as if it is all geared towards early Djeno production

all the best

The H-S

to cut the long story short..its been "fun" being part of HNR ride...trusted in DTU potential..East Denver success,, West Denver development chaos..Helium and Opera chaos..Uranium...Domingo. you name it. Once they initially invested in cannabis it went against my moral principles and I went out. I am against drugs and could not stay invested even though they only supplied nitrogen but I could not support the company that makes money out of it. I also could not believe that lack of focus, no gas or DTU development as previously suggested and that gave me all sorts of signs. I sold out at 10 and 11p before recent rise to 14. I took massive loss as I was owning half a percent of HNR but after recent news and drop was glad to get out.

Lots of decent posters here fadec, dave etc. but I feel that I and they were misled by Robert Price. His last interview in which he desperately repeats words I am confident million times just struck me as very strange and desperate.

Sorry all for this rant..I invested my money in some other oilers that are doing well.

Bye bye and best wishes to all posters here

The H-S

Align Research promised an update yesterday but nothing as of yet..would be interesting to see their take as they reiterated Conviction Buy following Djeno drill hit

Anglo African Oil & Gas (LON:AAOG) – 10p Djeno Promising Recently, the Company reported that its combined exploration and appraisal well had intersected hydrocarbon bearing horizons and logging indicated a 12m oil column. While we continue to have our concerns about the technical content of the board, we also believe that it must be remembered that even for strong exploration targets there is a 1 in 4 chance of success, and of that 1 in 4 success, only 1 in 3 are commercial, so successes are rare and must be celebrated. While there remains the issue of the test program to undertake, across all the horizons intersected by TLP-103C, there has to be oil present in the first place to be able to be in a position to declare commerciality. Anecdotally, we also believe that management’s election to replace the existing rig is the right one, and while this may take a little longer and be a little bit more expensive, it will be better in the long run. In selecting the rig for the TLP-104 well, we would hope that the management team will engage a suitable expert to be able to review and inspect the available equipment as necessary. Now the drilling has been completed, the hard work of unlocking the value needs to start in earnest.

I agree..knowing the terrible history of HNR good and not so bad RNSs and always resulting bad share price they will announce placing tomorrow at 10 p..the other news will also be bad too and share price will tank...so everything will be bad for once...or..will. .it?

are we all going nuts here?? They are giving us and maybe other investors HUGE signs...just read it again

'Highlands in advanced commercial discussions with various parties for full scale commercialization of its technological and natural resource assets'

This is vastly different from the 'tipping point' statement and a massive hint..not to even mention similar statement about Nitrogen.
You can be at a tipping point for months or even years depending on market trends, adaption possibilities or oil price but you can not be in Advanced Commercial discussion with VARIOUS parties for FULL-SCALE commercialization for months and months

I work in Oil & Gas R&D so know a bit how this might work. I say might because of course things can happen to delay or even stop any deal...but the fact that they chose to publish this and change the terminology is a big sign.. All IMHO

Best wishes to all

He emphasized a few times that time is of the essence for Prospect S partnering since well will be spud shortly and that they are talking to number of parties. I could be wrong but I interpret this positively that they are playing negotiation game between these parties in order to get the best deal at the last moment. Even in this call he could be reminding potential partners that the time is running out.

Also liked that he confirmed that the recent cash raise did help their negotiating power - he could have just avoided answering this if the situation was opposite or potential for partnering is small.

All the best

well done Mo for pursuing questions so hard!!

Thank you dickupham for a comprehensive answer. Yes I can see the potential for Verbier and hope for no further delays and the support of around 180p looks strong.

Best wishes

Thinking of investing in JOG, am I correct in thinking they have no debt?

I see this as a weakness to be utilised to get few more shares so bought another 5k pounds worth. We have great potential with many projects and revenue incoming from many sides. Disappointed with what has happened in last 2 weeks so lets see..

Best wishes to long term holders.

Picky I think you are way off the mark.. I wished your figures are correct.

If you look at the figures for existing 2 wells production and assume decline rates that will settle at around 150 b/day per well for each well after 6 months of initial high production you will get figures of around $3,000,000 to $3,500,000 a year for HNR assuming inclusion of remaining production for existing 2 wells and 6 new ones for the whole year. This assumes $65/b as you did. Of course production does not stop after first year but production rates can settle at around 50-150 b/day per well for next 10 years or so (looking at the graphs of similar wells at the area). So following a first year of production then say for 100 b/day per well will result in income for HNR for 8 wells per year of $1,400,000.

This assumes no DTU implementation and potential improvements in production rates but it also assumes that all new wells will have excellent initial rates as first 2 wells.

Obviously key to improved success in all of this is increase in scale and the fact that we have no capital or opex expenses (or minimal) to get this income from these wells. Our overheads are spent on admin and other projects.

Hope it makes sense.

Thanks Datguy..

Obviously all answers were scripted by RP beforehand although he tried to inject some realism by starting almost every answer with 'hmmm' 'mmmm' 'ahhh' 'aha' 'that's a very good question'.. but this made him sound bit fake and robotic or not too sincere..it would been better if he just said that some answers are of confidential or commercial nature and that he can't answer them. It is good to hear at the start that they do not need funding as of now, but I expected him to put some, however short, timeline to that even with growth uncertainty in mind. I also thought that he would have had something more concrete and new on Nitrogen sales so I am but disappointed with that. Same on DTU, tipping point, DTU take up, Schlumberger all avoided, but good answers on West Denver potential and overhead cost reduction.

All the best to all shareholders

Yes Fadec I noticed that, see my earlier post. It is also indicative that he referred to 2,581 mcf/d as the last flow rate like there is more coming.
I still do not understand it in terms of nitrogen decline rates for this one well and for overall concession nitrogen in place. Have they learned how much overall can they possibly extract? how many wells?

Maybe it was a slip of a tongue..but he said about Nitrogen well "well is continuing to increase and to clean up so our last flow rate was 2,581 mcf/d".. so it seems there is potential for this to increase further..

Finally let's note his statement at the end "we have exposed shareholders to what could be incredible upside in Highlands!"...I think we should be at least 50% up from where we are

I Love our KanVas Nitrogen Project!! haha..Justin is the King

so far Blueee..back in 20s,,.lets hope it doesn't fall back after few hours

not sure how much Nitrogen is in there and decline rates..but if we can sell all that Nitrogen just in 1 month we will make $ 700,000 in revenue...what a great move and investment this seems to be

This will mean that DTU cost at least in Permian basin will be slashed by 20% if we use our own Nitrogen...not sure thats still enough to push towards full commercialisation but its fantastic news..thanks to RP and team for great effort...surely sp will finally rise today

interesting snippet from today's Solo RNS in regards to their Helium investment... Helium Market Update Based on market intelligence monitored by He1 it is clear that constraints on global helium supply continue to intensify with continued increasing demand and reduced output from established producers. Demand has been increasing at an annual growth rate of approximately 3% due to increased requirements from a wide range of technology applications, including medical imaging, and industrial leak detection. Meanwhile supplies from Qatar continue to be constrained (reported to be only at 70% output). In the USA, the Federal Reserve (managed by the Bureau of Land Management) is still set to close on or before September 2021. Industry sources report spot prices for pure liquid helium is being offered between US$260-300 per mcf and that long-term contract prices are shortly expected to start to increase significantly.