Member Info for Helpful

With the existing assets:
1. get stanhauser online, maybe 30bopd
2. exploit any BHP or PUD
3. New drills.

We are going to need new drills to really move the production up or more assets. If they are not going to acquire more assets then they will need to refrack the two horizontals at Austin.

120 boepd plus the services revenues puts us on about $250k pm maybe a bit more. As I said they will struggle to get us past $300k pm whilst just doing the baby workovers (not a criticism).

Decision time coming up soon.

DYOR

https://en.wikipedia.org/wiki/Masterson,_Texas

Comments about the geology. Interesting. One upside to doing the reporting for other operators is that you get to see the production data. We can see what worked, where and why. It would make sense to make more of Amarillo going forward

https://en.wikipedia.org/wiki/Hugoton_Gas_Field

Overview
Ponderosa TX Operating, LLC (RRC# 670097) is a domestic oil and gas production company that is focused on aggregating and re-developing shallow conventional oil reserves in Texas. Ponderosa assets exhibit the following properties: shallow reservoir, low geologic risk, moderate decline rates, and existing infrastructure. Ponderosa currently owns and operates several assets in the Hugoton-Panhandle Fields in Northern Texas.

https://www.mineralholders.com/new-york/new-york/ponderosa-tx-operating-llc/7977118

https://www.shalexp.com/kodiak-operating-l-l-c

Looks like we are building a foothold around Amarillo. The fact we are in bed with these two will be noticed locally.

https://www.rrc.state.tx.us/oil-gas/

NB we are not the operator on those 987 wells; we are providing regulatory testing and reporting. Operator fees are about $1,300 pm per well. The income will be less for this function but still be substantial.

He is saying that he intends AOGL to be a big business.

Very happy with that. We might have a business on our hands.

Stop confusing people with facts.

Hey, Tragic,

Perhaps you need to ring UBS and explain why you know better?

https://in.reuters.com/article/cobalt-price-to-jump-60-in-next-18-month-idINL4N2590WI

Previously your argument was that there was no copper or cobalt at Musonoi: is this you agreeing that there is 24.5k tonnes of cobalt at Musonoi?

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/POW/14186930.html

https://in.mobile.reuters.com/article/amp/idINL4N2590WI?__twitter_impression=true

So what would you say if RRR gets its license back and does a decent JV?

FYI been in and out of GGP a few times and made decent money. Vector, the assets look okay but they seem to have messed it up.

Anyway the issues at hand are not whether Australian gold companies better investments, the three issues are; will RRR get the Migori license back, will it execute a decent JV, how will the market perceive it. At the moment, Migori is valued at zero anything significantly better than zero is an upside.

Thanks for the advice.

DYOR

https://www.proactiveinvestors.co.uk/companies/news/121727/independent-resourcesnostra-terra-get-notice-over-east-ghazalat-121727.html
Self explantory.

Nothing to be said at the moment. We need sight of the CPR/Subsurface survey and their forward plan. At least the weather has been dry and so that shouldn't have caused any recent issues.. https://weather.com/news/climate/news/2019-08-09-flash-drought-developing-texas-oklahoma
Hot and dry is okay; we don't want storms and tornadoes.

DYOR

And what effect do you think cutting 27,000 tonnes pa out of the cobalt supply will do to the price?

Cobalt is interesting to RRR but marginal: on their own figures they have 24k tonnes of cobalt at Musonoi and 350k tonnes of copper. The latter is much more important to RRR than cobalt.

However, I am glad to see that the trolls think that the cobalt price matters because RRR has cobalt at Musonoi. You have can't have it both ways: if there is no cobalt at Musonoi then the cobalt price is irrelevant on the other hand if there is cobalt then it is relevant. Which is it trolls?

http://www.infomine.com/investment/metal-prices/cobalt/5-year/
Anyway, Migori is more pressing. Hopefully, it is finally sorted soon. Then the next thing to do is get the JORC report finished at Musonoi, progress the other licenses and look to get Musonoi into production next year.

DYOR

https://twitter.com/zenithenergyltd/status/1160791070864760833?s=19

Interesting. JB via 1620 Capital owns a chunk of RRR and is a JV partner.

He reckons 20,000 tonnes of cobalt at Musonoi.

https://twitter.com/Boardo65/status/1159788742908841984?s=19

The metrics are pretty straight forward. The technology has always worked; it is the engineering which has been an issue when they have tried to move to high volume steady state throughput. I expect we will know if it has been sorted by the end of August. No one will want to put a plant in place unless they are certain it can perform at a high volume throughput.

DYOR

https://twitter.com/MitchSmithVanc/status/1159092047078285312?s=19