Member Info for Helpful

Not a good look.

https://twitter.com/PetroteqEnergy/status/1195834075493412866?s=19

Very promising!

https://twitter.com/PetroteqEnergy/status/1195460597078511616?s=09

It is because we think we know what will happen but it actually hasn't happened yet and in the past they have let us down. A nice update on the 22nd will help. They also need confirm the premium price they can command for the oil. I understood it be around $6.00 earlier in the year but it may be higher now that the low sulphur rules are actually upon us.

DYOR

https://twitter.com/BGPTRADING/status/1195327147134595072?s=20

I will presume that your comments are genuine...

In the short term Attis is waiting on a few things.

Confirmation that the BIA has recognised Attis as the operator at ZR (it means costs are reduced and we have more flexibility). We can't sell ZR unless we are the operator. We are operating it but under a sub-operatorship from Glenn Supply. If we tried to sell it with GS in place the purchaser would have to deal with GS not Attis.

An operational update to say that the rest of the wells at ZR have had a baby workover (really just a bit of titivation).

Confirmation that the wells are Austin are producing as we want them to: both Montsanko and Morris 1 have not lived up their billing to date.

Confirmation of sale agreement on Austin.

Progress on the potential JV.

The biggest is the JV but that now looks to be towards the end of November for the next update.

However, the thing that could be very big before the end of November is PQE. What percentage we hold is not relevant, what is relevant is what it is worth. If PQE confirm next week that they are going to 24/7 working, targeting 900/1,200 bopd that is huge. It means no more funding requirements to cover payroll, it means unlocking the debt facility they promised, it means the second plant/plant upgrade can be initiated, it means potential partners now know it can be run 24/7 on a volume basis with a decent level of throughput.

If PQE is worth $1.2mil to Attis before April 2020 it pays for a batch of four wells plus 1 SWD in the Red Cave and it strengthens our negotiating hand in the JV if the potential JV partners can see that is likely. Once the 24/7 announcement is made, I expect we will see a number of PQE JV/licensing announcements made. Based on actually reading the RNSs and the presentations it looks to me that they will have 5/6 plants in production by end 2020/mid 2021.

The new plants will be planned at 3,000/5,000 bopd from day one and PQE gets a royalty on the production. Once it is clear that it will happen the price will really move.

DYOR

He stood down as PPC last week as part of the deal announced between the Conservatives and the Brexit Party.

I agree with that.

As part of the JV transaction Attis would want to review exactly what is happening with the existing wells and analyse the way forward with their PUDs. That information is commercially sensitive. No way would the potential JV partner release that information unless they were serious AND the information were protected.

DYOR

Both the oil price and NG price have been picking up. So that helps because most of the upside drops straight to the bottom line.

There is no guarantee that this JV will happen, all sorts of things can get in the way but they only have 25,000 acres out of 90,000 acres in the Red Cave. As you say, they are not the only game in town.

It would be helpful if PQE can confirm everything on track at their end next week.

Indeedy.

From what we have seen in the various RNSs, presentations and tweets the work at Betun has not been straightforward: CAV must surely realise that it needs a specialist to work over these assets. Having encountered these issues at Betun ADL will be better equipped to deal with the same issues elsewhere.

Very good. All coming together.

Nearly a month then. Seems about right. Maybe we will get something this week. This will be the final stage and then it is just seeking to maximise the throughput.

https://twitter.com/Ole_S_Hansen/status/1194153708545880064?s=09

https://twitter.com/chrisjparrish/status/1193930828813864966?s=20

Looks like the Nzuri/Kalongwe deal is finally going through.. https://wcsecure.weblink.com.au/pdf/NZC/02165527.pdf

FYI Kalongwe currently a non-producing copper and cobalt asset

https://wcsecure.weblink.com.au/pdf/NZC/02167835.pdf

Nzuri reckons that the is 302,000 tonnes of copper at Kalongwe along with 47,200 tonnes of cobalt. Kalongwe is a good analogue for Musonoi. RRR reckons that there is 400,000 tonnes of copper at Musonoi along with 24,000 tonnes of cobalt and the required infrastructure is pretty much already there.

DYOR

https://twitter.com/AndyHomeMetals/status/1193895011915575297?s=20

The Company expects to produce a doré bar 2-3 times per month, ramping up to 2,500-3,000 ounces of Au per month during Q1 2020

https://twitter.com/ParaResources/status/1192452700228767744?s=20

No it is not a nominee company. It has one director and one person who has significant control. This is a personal vehicle for Mr Knott that he has only just started using. Previously, it submitted dormant company accounts. Knott is no longer a regulated person registered with Cantors or with anyone else. The company is also not registered with the FCA.

https://beta.companieshouse.gov.uk/company/10979003/officers

It is the only company of which he is a director. It also doesn't look like Graystar has issued any TR1s in respect of any other companies. Whatever is going on, it seems he likes ADL.

DYOR