Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Extract from RNS 12 December 2023:
"As part of the Subscription, WA.Technology Group Limited, an online betting and gambling platform with significant LATAM experience, has invested £400,000."
Tim Scoffham was the sole Director of a company called WA.Technology Group Limited.
On the 27th February 2024 WA.Technology Group Limited changed its name to WA.Tech UK Ltd.
Morning MgBRG96
"why couldn't he have been in China in January,?" - It is possible he could have been
"I think in December and January PH was very very well travelled and was indeed in Beijing at some point in January" - why do you think that?
Avi8r - You are totally correct re EG and Antler, my point was that he was not in China as that time as somebody had suggested earlier. (From memory PH retains 42,9% ownership of Antler)
Chesh - Good posts and info, so does CNPC own west Gulf Petrolium and/or the Private Chinese company that are operating on Block V??
Yes Bobbby, says quite clearly, "CNPC has been contracted to deliver a firm work programme comprising two deep wells, using a modern rig and a full suite of integrated services." I was just trying to establish in what capacity CNPC were involved - MgBRG96 and yourself seem to be suggesting that there involvement could be more than just contractor.
I re-iterate I agree with your view that someone could table an outright bid for Block
MgBRG96 - PH was in Equatorial Guinea in late January - photos on Europa Oil and Gas twitter page.
The other thing is that posters keep mentioning CNPC as a potential farm out candidate but extracts from last year's RNS suggest they are the contractor/service provider on the adjacent site,i.e.
"China's commitment to the country has been underlined by the presence of a private Chinese firm using services supplied by CNPC, the Chinese state-owned integrated energy group, in an onshore location between the Black Sea and Block's Project III."
"CNPC has been contracted to deliver a firm work programme comprising two deep wells, using a modern rig and a full suite of integrated services."
IMO communication from the company seems fairly good overall:
RNS,s stating current position 28/29th Feb
e mail replies to several posters here 1st/2nd March
Video presentation 5th March
The company probably feel they have communicated everything they can until such time as the sidetrack works commence on site in April.
Good morning MgBRG96, I see you have been taking my name in vain.
"Hepseal I just don't believe you, you've been negative here for a long while."
That's not very nice, are you saying that if someone makes a negative comment they are not to believed, what happened to constructive debate.
Anyway, for the record my current position is VERY POSITIVE, but not necessarily any time soon and with reservations about the cash situation, but they will find a way round that.
Anyway, I can see that Avi8r has got you summed up - have a nice day!
Totally agree the real news is elsewhere, so why do posters like yourself fill up this board with endless drivel arguing with 1234. Stop twisting things, I have posted my position on 1234 before:
"Reporting 1234 serves no purpose, you loose valuable post's by others."
"Conversing with 1235 serves no purpose, the board just's get filled with futile tit for tat argument."
Anyway, in answer to your question, my recollection of what 1234 said you said is in the post by MgBRG96, 8.30 yesterday morning, but if you had read the post properly you would not have needed to ask that question.
Well Chesh, you have confirmed you made the post on the lines of "possibly encouraging Block to prioritise Proj III over Proj I." but my recollection was that your original post was a bit more direct than that and Sarah1234 seized upon it.
Anything is possible Hms687 but the below sentence from the RNS suggests to me that the new well is currently producing a flow up until such time as it is disconnected prior to the side track operation.
"Following completion of the sand jetting operation, as announced by the Company on 12
February 2024, a rod pump was installed to clean the well. Disappointingly, although there is not
a stabilised rate as yet, it is likely that any sustained flow rate from the well would remain materially below the flow rate expected given the excellent reservoir quality encountered."
HMS687, the operating cash flow figures based upon $80 per barrel and after deductions are shown on the presentation slide as follows:
150 bopd = $40 per month
300 bopd = $295k per month
600 bopd = $805k per month
900 bopd = $1,310,000 per month
Hms687 - From RNS dated 28 Feb, 2024:
"Following completion of the sand jetting operation, as announced by the Company on 12
February 2024, a rod pump was installed to clean the well. Disappointingly, although there is not
a stabilised rate as yet, it is likely that any sustained flow rate from the well would remain materially below the flow rate expected given the excellent reservoir quality encountered."
Prior to the sand jetting operation were producing approx 40 bopd "New oil" + 30 bopd "Old oil" = 70 bopd total.
With reference to the RNS announcement we could be producing a similar amount, plus or minus, at the current time.
Grower, I am not attacking Chesh or defending Sarah1234, it was MgBRG96 who made a big point of stating why he had reported Sarah1234 and I pointed out that my recollections were somewhat different to his assumptions and you have to some extent confirmed that point.
Anyway, as you correctly say, there are more important things than that.
Hms687 - "Have they as yet produced in any new oil ?"
Yes, but not very much, 40bopd from the new well at the last count
Steve58 - "Why don't they just try to increase the current production."
That's what they tried to do with the sandblasting but unfortunately not successful.
Hopefully the new side track in April will have the desired results.