Member Info for Helpful

https://www.bloomberg.com/news/articles/2019-03-03/miners-lifeblood-looks-poised-to-flow-back-following-pot-craze

He spends two weeks a month out there and has a full team in any case.

Strange comments really: are they saying that Rob Bensh doesn't know what he is doing either?

TB is on the technical committee not the BOD: the committee advises the BOD, the BOD makes decisions. TB is not the operator at ZR. Both RB and TB are on the technical committee ie., they will both be reviewing the FDPs and the work flow.

Having met both of them, it is more important that they are experienced in the areas that we want them to look at. RB has an asset practically next door to ZR and TB is very familiar with the gig at the Austin field.

Another thing: when we are on 500 bopd we can afford to have a few O&G guys around the place on large stipends opining on things but for now we just need some action and some results. People need to get real and think about how much we would have to pay a serious O&G CEO. Hands up everyone who thinks we should appoint a new CEO on $350k pa plus his or her admin support and plans to take over the World. Don't forget EG had an assistant that we paid for in addition to his package. Doing what SP wants would take our break even up to 200 bopd and the assets would be working to keep the staff happy and not much else. At current prices I reckon break even is about 70 bopd: we don't want to change that till later in the year.

DYOR

https://www.cnbc.com/id/43974868

Basically the gold dore means that $PBR is generating income from Gold Road.

DYOR

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

Well they should be pouring their first gold dore today: unless they have been slowed down by the weather. It has been a bit iffy for a couple of weeks in the US.

https://twitter.com/Boardo65/status/1102101226764857346?s=19

https://twitter.com/HedgehogTrader/status/1101195261894946816?s=19

https://twitter.com/Boardo65/status/1101460147212378112?s=19

I am hoping that they will confirm the 700 bopd figure today or Monday.

Low sulphur diesel....

https://gcaptain.com/shippings-2020-low-sulphur-fuel-regulation-to-hit-airlines/
DYOR

If you look at the presentation, it was already out of date on the day they published it.

The second plant that they mentioned should already be in the pipeline with long lead items being ordered. I would like to see some detail on exactly what they intend to do with PR Springs.

DYOR

https://twitter.com/AndrewBRRR/status/1101459423627743232?s=19

This analysis is out of date. WTI is $57.55 at the moment. They can get maybe a $2.00 premium but this is likely to change. New rules have come in about shipping using low sulphur diesel. The demand is excess of supply. It is likely that there will be a premium for low sulphur diesel feedstocks: guess what you get from PQE's feedstock!

That premium is likely to be higher in the near future.

I think the all in costs are likely to be closer to $25 a barrel so the net backs are likely to be north of $35 a barrel going forward.

Secondly, the larger plants are likely to have lower marginal costs of production and therefore higher netbacks.

Thirdly, the netbacks and marginal costs will be a function of the organic content of the sands being processed. It looks to me that PR Springs, at least in parts, has higher organic content than AR.

DYOR

https://twitter.com/AndrewBRRR/status/1101442584210223104?s=19

https://uk.mobile.reuters.com/article/amp/idUKKCN1QH1PH?__twitter_impression=true

https://twitter.com/RRR_RedRock/status/1101215735001554944?s=19

Gold production started at Gold Road

https://mailchi.mp/f7810b3862eb/10wc5u22ur-1414269

You couldn't pay me enough to put up with what he has to put up with.

I see Miton has bought 10% of NTOG: very interesting that they think a similar company is investable.

https://hotcopper.com.au/asx/nzc/corporate-spotlight/#cs-tab-3477

The company needs to be stable before you would get a quality CEO willing to take it on.

Once it has stabilised, has FDPs, CPRs and a decent level positive cashflow then maybe you will get a proper CEO but he or she will be expensive.

Being a public company with top quality executives is expensive. Mayan probably needs to get to 250 bopd before it starts loading up executive costs.

DYOR