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The gas at Morris 1 should last 7/8 years.

They have also referred to "further upside" at Stockdale. It may well be the case and I suspect that it is the case that they haven't told us about all the intervals that they can exploit at Stockdale.

They did also say that they had put the Roke probe down wells at FH. Again, I don't know but I suspect that there are further intervals to exploit there.

Once we get over this next hump and they have Morris 1 up and running properly, the FH wells producing as they should and the Austin Chalk ones sorted, I can see them doing more work at FH on what they can really get out of there.

Looks like some shorters got their trousers taken down elsewhere. I look forward to similar here in due course.

https://twitter.com/AlaricN/status/1011968383418552320?s=19

Mayan might accidentally timed this very well.

https://twitter.com/JavierBlas/status/1011982810582798336?s=19

I don't know because I haven't checked with the company but I would expect them to confirm that Morris 1 has the gas online and they are selling electricity by mid July/3rd week July and confirmation that more of the FH wells are online and the oil is being sold.

On the new wells that is partly down to when they finish their DD and complete on the transaction but I would expect them to make progress on some of the new wells during August. Certainly by end September we should look very good.

Fingers crossed.

DYOR

Looks like it is heading to Infinity and beyond or at least $72 pdq and then on to $75.

$75 WTI makes those wells look like a bargain.

That is what they think West Rustavi will be worth once they have done the work and if the hit the hydrocarbons they think that they will.

Nonetheless it isn't zero. Schlumberger are spending a load of money next door on very similar asset.

Back over $70.

One of the main reasons you and the other trolls have lost money is that you can't read: you should have paid attention in English Comprehension classes at school.

The no activity bit refers to two things:
Physical activity at and on the assets and past tense
The other bit relates to planning and future tense.

Why in heavens name would they start doing any physical activity at and on the assets unless they have scoped out how to properly exploit them?

Try listening to the CEO's quarterly report and reading the written report. It is not too difficult to understand. Things have changed at Yilgram and they did so earlier this year. As a consequence they are going to look at their options going forward. Except for the change at Port Esperance and on the rail capacity it is unlikely that they would bother looking at their options.

I would like it if they decided to go ahead with Mount Ida but I can't see that just yet but I can see them going ahead with Mount Mason.

DYOR

Another one for you.

https://intherightvein.com/2018/06/26/jupiter-mines-minting-money-with-tshipi/

I was chatting to someone who has asked me to make this point.

The recent news about wells at Stockdale/Gonzalez County and Zink Ranch means that by the end of September ish Mayan should be significantly de-risked. If things go according to plan (yes, I know) we should have something like 26 wells online and producing. What that will mean is that one well going offline or needing a workover will no longer be the end of the world.

So we should not only be seriously cashflow positive but the risk of that cash flow disappearing will be significantly reduced. Low risk positive cash flow has got to be worth a premium.

Do the revenue numbers on the basis of what the company has told us and you will see that it serious money.

Hopefully, the next step is an update on Morris 1 and confirmation that the gas is hooked for electricity generation.

Outside of Mayan's own activity we should hear that commercial production has been signed off at Asphalt Ridge and that Block has started its workovers.

DYOR

A good scenario would be for ADL to agree a deal, issue equity to fund the deal and as part of that raise Mayan agrees to cancel its participation rights in exchange for equity/warrants on the same terms as everyone else. I have no idea what the value would be but presumably if the management of ADL think that they have a good deal they wouldn't to let Mayan buy in for no premium.

A couple of hundred thousand in equity/warrants for an asset that everyone had forgotten about would be a good deal. It didn't cost us anything anyway and Randy made money off the shares in ADL first time around.

We are no longer under any pressue for cash so we could afford to just hold the shares and see what happens.

DYOR

Well it seems quite a few people think that they might be doing a good deal in Indonesia; it might be that those participation rights are worth something.

We still have our participation rights. It looks like someone thinks that they are up to something good in Indonesia. It will be interesting to see what Mayan decides to re its participation rights: it has a number of choices.

A good one would be to get ADL to buy out the rights in exchange for some shares.

DYOR

The CEO's quarterly call is on here. Worth a listen, even the trolls might learn something.

https://www.jupitermines.com/

Excellent quarterly update. Going to explore options to release value from its iron ore assets!!!!!!!

Just thought I would double check your nonsense and to be quite frankly I am used to a better standard of trolling.

You obviously don't know El Limon has two income streams and has had since last year. Regardless RRR now has shares and warrants in Para Resources. The announcement was about contracts for upgrading work and extraction work at Gold Road. As usual it helps if you actually read the stuff you are trolling about.

DYOR

http://pararesourcesinc.com/para-releases-request-proposals-contract-mining-gold-road-mine-arizona/

Obviously, the trolls will say it is the wrong type of gold.

No one needs to own an operator, it is just as easy to contract an operator.

Hopefully, this new one will do a bit better than the last one. Operators don't do as much as people seem to think. When you do a workover etc unless you have your own full time crew you bring in outside contractors. The operator doesn't do it at the level that Mayan is operating.

I expect after the next package of wells you might see Mayan move more towards having its own crew and its own workover rig. Another package of say 20 wells September/October time and Mayan having its own crew and rig would make more sense.

As the cashflow improves Mayan will be able to take on ever bigger packages of wells.

Hopefully, we are over the hump now and we can get on with creating value. Except for the weather at the start of the year and the operator issues, I think we would already be over the hump.

Based on what Eddie said a little while back, we should hear something about the gas and electricity generation from Morris 1, say mid July.

DYOR

If it works out we should be well past 500 bopd net.

Hopefully they are already working on the next package of wells to take on board September time,: this funded from cashflow.