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Agree with Ezhik and Blubay - I can not see why anybody is complaining about the start date, they have started more or less when they said they would, which in itself is an achievement, and I actually think the company is keeping us well informed.
If you check the wording PH said they would be busy in Q1 but he did not say the Quantum Leap would happen in Q1.
IMO a farm out agreement would take months and months to sort out.
Mind you he did produce a Quantum Leap for Antler Global last year so do not under estimate him.
As there have been no announcements of a delay it would seem reasonable to assume that the operations have taken place as planned this week. As someone else has already said we could very well have an RNS next week confirming this to be the case but we may have to wait a little longer for stabilized flow figures - exciting times!!
Plus - "Cory Moruga planning work is being progressed in Trinidad this week to put in place a small operations teams to implement the proposed workover operations after planning is complete and environmental approvals have been received."
Extracts from Business Media Article, 2017:
"On 3rd April 2017, the Georgian State Agency of Oil and Gas announced an open international tender for issuing a general license for oil and gas resource usage on V," etc, etc.
"As BM.GE was told at the Agency, the winning companies have already been revealed. Negotiations with consortium, which includes an engineering company West Gulf Petroleum, Ltd. and Chinese New Star, have been completed for the V block, area", etc,etc
So the Chinese consortium appears to have been around for as long Block.
From RNS:
"The Company will undertake industry-standard well stimulation in the fourth week of
January 2024, which is expected to improve production."
"The Company is fully funded to undertake the planned well stimulation in an operation that
will take approximately 1 week."
Whitenight says "" inevitable bad news.""
Anybody who uses the word "inevetable" regarding either good or bad new, is talking nonsense.
That said I am "hopeful" of either GOOD NEWS or VERY GOOD NEWS at the end of the remedial works
Try again, numbers spaced out for clarity:
Significant Shareholder - Number - %
Tulip Oil Holding B.V - 4,256,246,528 - 31.82%
Anavio Capital Partners LLP - 545,454,545 - 5.19%
Global Prime Partners LTD - 455,000,000 - 3.4%
Union Jack Oil PLC - 430,000,000 - 3.22%
As at 18 December 2023 the Company is aware of the following persons who hold, directly or indirectly, voting rights representing 3% or more of the issued share capital of the Company.
Significant Shareholder Number %
Tulip Oil Holding B.V 4,256,246,528 31.82
Anavio Capital Partners LLP 545,454,545 5.19
Global Prime Partners LTD 455,000,000 3.4
Union Jack Oil PLC 430,000,000 3.22
""Sarah repeats her mantra of "you can't get it out of the ground" all the time.....! :)
that is not the case........!""
Chesh, how can you be sure about that when progress on Project 1 has come to an abrupt halt and Block have found an excuse not to issue a Q4 Quarterly Update.
Further to discussion yesterday regarding rationale and flow rates I note in the 11 Sept 23 the following statement:
""2022 CPR outlined Best Case initial production rates ~600 bopd""
Therefore, I conclude that after installation of the ESP a flow rate of 500 bopd would still be a very good result and anything above that figure would be a bonus to that originally envisaged at the beginning of this campaign.
Anyway, I agree with the last three posters and we should not get ahead of ourselves, BCE need to first get the remedial works sorted during the next week or so, and hopefully they will.
GLA