Member Info for happysparrow

Yep, 3CB. Sold my last 4K at 2.9p to buy TXP at 110p in December. - Seemed a bargain beyond belief. You've got to laugh.
Would like to be back here at some stage (Q3 onward based on TXP news), and hope I don't miss the main VOG boat between now and then - Roy seems to be a good CEO to follow.
GLA

Will the Canje consortium re-bid for the relinquished acreage?
Will there be any other buyers?
And will such interest improve JHI (WTE) share price?
https://oilnow.gy/featured/2022-guyana-bid-round-will-open-more-acreage-in-prolific-basin/
'...Energy research and business intelligence company Rystad Energy said potential bidders are most likely to be interested in deeper waters, where most of the existing discoveries are located.
In the northeastern part of Guyanese waters there is not much deepwater acreage up for grabs, with only two unallocated blocks: Block C, which lies east of the Kaieteur block and north of Stabroek stretching across 2.3 million acres (9600 Km2), and a smaller block of about 1,325 Km2 that was relinquished by the Canje consortium....'

'Still can't get my head around Mr SPARROW selling up his VOG to buy Touchstone.'
-
Nor can I, Jay!
There was logic to it - but not the luck. Ever the way for me, it seems.

Yes, I know!
'Others on the subs bench are very close to admission, Pharos has real scope in Vietnam and presses Jadestone which needs to keep its strength going in that geography and I am expecting exciting things from Afentra in Africa before long. Sound keeps making moves in Morocco, VOG in Cameroon and back to high beta will Empyrean come in at the Jade prospect?..'
https://www.malcysblog.com/2022/01/2022-bucket-list/

Yes, correct, Maisy - brain not in gear here today - apologies.
Though someone wanting the RSM holding might also want to be involved in Matanda (perhaps buying a share in VOG - similar to ECO's involvement in Canje drills?). This could cause delay on all fronts?

Note too: All gone quiet on Matanda drilling (in fact, all gone quiet on everything!). This might lend credence to the idea that the RSM holding is up for sale as can't drill without a partner.

maisy - just an idling comment - if I say something, with my luck expect the opposite. I'm not expecting an arbi RNS anytime soon. My guess is they are in discussions that could go on for months.

Agree, Maisy. Thanks for explaining the subtleties. This is AIM after all - shareholders will be the last to hear anything. Discussions remain confidential. Insiders mustn't deal on such confidential discussions, only after the results of such material discussion are publicly announced.

Rec - Grynberg was a very litigious individual. After his death, the RSM board may well have decided to take a different approach. Arbitration results were expected in July/August - thus, something's up imo. I guess VOG/RSM informally know the result; formal announcement of result withheld whilst they (and other parties?) negotiate. I'm not sure how such a scenario sits as regards to informing shareholders? - Nomad given them leeway?

Sold all my holdings so as to put everything in TXP this year - hence the radio silence here. May add back here at sometime
-.
RSM arbitration result seems to be postponed indefinitely? My guess is that Jack Grynberg's death has resulted in a 'stay' on the judgement whilst RSM's stake in the VOG partnership is sold, perhaps to VOG, perhaps to another party (Afentra?) with a lot of cash. A large player such as Lukoil would be really good. Thus the first thing we might hear on the arbitration is that someone has bought out the RSM holding and the matter has been settled amicably. [Having said that, expect the RSM arbitration result tomorrow!].
Hope you find this encouraging.
Good luck all.

https://oilnow.gy/featured/upfront-investment-in-proprietary-data-technology-behind-multi-billion-barrel-discoveries-offshore-guyana-exxonmobil/

Perhaps not so unusual, Domus?
https://weather-and-climate.com/average-monthly-precipitation-Rainfall-inches,Trinidad,Trinidad-Tobago
But moving into dry season now
https://weather-and-climate.com/10-ten-day-forecast-fahrenheit,Trinidad,Trinidad-Tobago
so full steam ahead.

Email sent, MJ. Good idea; really would help our understanding and build confidence.

AK has a penchant for delivering Big News RNSs on a Friday.

Meanwhile, maybe worth having a look at a 'reported' email on TXP that came in last night?
Worth a punt?

Credit to Monkey Junkey, Photo.
Seems Linton and crew very upset by the news?

Seems this post was removed - I wonder why?
Copy of Domus1's post on advf n board last night:
'Directly from Paul as a response to my questions. He has agreed to me sharing it. Thanks for your continued interest. I really do think the market has the Royston discovery very wrong. This is a huge oil pool and I think the water cut and rates may have scared some investors. The facts are every pool in Trinidad produces water with the oil and has done so for the past 100+ years. So we will educate the market in the new year once we have the data from the test fully analyzed. But a 1000 bbl/d well generates $40,000 per day in net revenue. So with 15-20 wells you can do the math and see the volumes and cash. The real benefit is we can produce the wells while we wait for facilities and future wells. We have our own water handling facility with two injector wells and an oil battery connected to the oil sales line. So all we do is truck from Royston to the facility and then collect the cash. I look forward to having the team show the market how wrong they are during 2022. have a good holiday season. Paul'

And my post on the subject:
Thanks, MJ.
' But a 1000 bbl/d well generates $40,000 per day in net revenue. So with 15-20 wells you can do the math and see the volumes and cash. '

Doing the math:
In perhaps 3 years (?) 15-20,000 bopd @ $40 netback = $200m to $300m net revenue per annum from just this Royston field alone.
(or 72p to 106p per share before G&A, tax etc).

Not unhappy with that :-)

Did the same, Photo - threw the proverbial kitchen sink at it a week back, sold everything but one other and bought at an average 110p buy. [only 10% of my portfolio left in one high risk share]. The smallholding doesn't come without risk - if not, it's the allotment for me.
Very convinced, very committed here.

View (my edit) from MT on other board (thanks):
'Interesting to note that the management are continuing to stick to the view that Royston is a 'major' onshore oil discovery with a lot of potential upside. Drilling a second well on Royston to commence in early 2022 certainly gives weight to that view: as these wells are not cheap by onshore standards, even when only paying 80% of the cost....
On the basis of the Royston test results to date, I suspect it may need a number of further wells and a consistent track record of commercial production before the market is convinced and values the asset accordingly. From a technical perspective - comingling is allowed between horizons under 500ft apart ..... which means all three intervals could potentially be brought on stream together, across the length and breadth of Royston.'

Let's hope so, P.
I was originally in SAVP for the Niger drilling. Accugas seemed a great business, and was 70% committed here, but more or less ducked out on the unpaid bills issue. Such is life - so I've probably missed the boat on current acquisition, but definitely would like to be back for more Niger drilling. I think that could come quickly, as there'll be wanting to fill that pipeline!
I now regard TXP as similar to the early Niger campaign - many, many prospects to drill and large oilfield now to develop, with luck (and unlike Niger, should now be monetised quickly - PB is too long in the tooth to go 'empire building' as ngms likes to call it - and so little dilution from TXP likely) and so am 90% in TXP - always dangerous, so no money to buy elsewhere currently [If only I was better at trading!].
Hope all goes well here. In this market, to start with it may struggle to half-meet expectations imo, but in longer term should do very well (and perhaps now large enough to carry any slack payments from Nigeria?). Institutions will be looking at long term outcomes.
Should all be much clearer here very soon.
Good luck.

Looking at the TXP SP reaction today, Porschefund, it might be sensible to set your sights lower?
(I doubt I will now be able to join you here, unless TXP comes good and gets some recognition before your re-listing.)
Regardless, what will be, will be.
Good Luck All.