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Andrea in the interview does mention that they hope to hit a wild card well with 2000 BOPD +. Let's not forget the field was producing at it's peak 15,000 BOPD with old technology. As per the interview much of it still is undeveloped and the new zone we have hit on C30 is untapped.
I'm trying not to get too carried away though!
I think showing the market operational success (as they have with drilling) and then followed on by a flow rate in 100+ will show the market that the new strategy will work with own rig and multiplication factor. If they achieve 300+ then if we average that for 7 x drills by end 2020 then that will put us at 2350 BOPD!
Nice 200,000 buy just gone through at 4p
42 days from flow of oil to payment in USD due to the efficient delivery/payment structure already in place (unlike BLOE). Cash flow will be quick once we get that oil out the ground. What massive potential this has with such a low market cap
Thanks Ezhik and Sea7 always informative posts.
In previous investor presentations AC was hopeful of 250 BOPD minimum from this which would be a great result. i think that him/all investors are hoping secretly for more!
Good to get the small overhang out the way before hopefully positive flow rates which will make this heavy re-rate proving we can get the large reserves out the ground. It's all about showing the market operational success now then no chart will matter
He has reiterated the importance of owning our own drilling rig continuously. Now we know the rig and team can execute drilling operations effectively it’s a tremendous asset. As he mentioned we await flow rates well C37 which even if lower end it’s the multiplication factor which shows you potential
Potential cancellation of US$1,485,000 loan seems very positive!
I like how they intend to limit any dilution in the future by the financing operations. Of course well results/flow rates C37/C30 will be key
Civil works tweet this morning seems that they are cracking on and are confident