Member Info for highlandmatt

Ok, so this is a little silly now. The company is guiding that Cascadura is analogous to Carpal Ridge, and Royston analogous to Barrackpore. The mcap is under £250m. Initial production from Casca will be worth £40m per annum profit. Revenues will be ramping up over the next 2-3 years. I've had another top up, and am now looking at other parts of my portfolio to release funds. Bonkers.

Good point Smasher. A few hundred barrels of oil per day during testing should put to bed any questions of cashflow. Say 500 bopd @$20 = $10k, per day, so $300k for a month test. 1000bopd @$25= $25k, so $750k for a month test.

Yes, the water cut caught my eye as well, Lexion. No water was mentioned in the first/lower test RNS. From my limited understanding, you would expect water lower rather than higher? Perhaps someone with industry experience could explain?

Probably not a coincidence CAML and Mines and Money. To meet investors. A possible deal in the offing, or just lining up interest?

Apologies. I missed there are two wagers on the table.

I notice Christmas has been moved to 31 Dec and a minimum deal value has been introduced. Hmm.

While we are in speculation mode, do we think the BOD is confident of having some news out before the Q&A?

Hopefully the interested parties are not APT, AEX and TDPC.

It has been stated that revenues will be retained within EAG to fund growth of that business. Nothing will flow to Scirocco from AD for quite some time, but the theory is that no further funding will be required. EAG should be self-funding.

Good point. One of the Casca tests was quite a while from memory, with a crushed recorder? The problem is I keep waking up at 7am every day in anticipation.

I don't want to play poker against PG. This feels very much like he's paid his entry to the high stakes tournament, and after many have doubted him, is now sitting at the final table holding all the cards. No wonder he looks confident. It might be taking time, but it's playing out nicely.

2 weeks for a pressure test?

It's gone very quiet on Lease Operators....?

I know what you mean Scott. TXP ticks a lot of boxes. Undervalued, Income jump shortly, growth potential, not going bust, near term catalysts. I'm accumulating Aminex, Helium One, Central Asia Metals. I probably have enough Predator for my risk appetite for now, waiting on funding confirmation there. I too look forward to being able to grow positions elsewhere, but at the moment TXP is such a bargain versus known future revenues. The brokers alluded to 1,000bopd from the 'crappiest rock' in Royston. At $20netback that's another $7m /£5m profit, so another £50m added to the mcap.

For info 132.9 is the ask, so buys are appearing in red.

Oil is off $10, so all my energy stocks are down. Current SP doesn't cover Cascadura in production, which means Royston oil is free, if you are prepared to wait. I've had another top up. Like Scott, I'm a buyer below £1.50/$2.

Thanks CarJ.

CarJ - what is your view of the comparisons made in recent presentations with Anchois and LAM1 wells? Does the data support these, or the potential of charge from across faults? Do the seismic images (not just the well logs) support the company thesis, or is it too early to say? Many thanks.

Thanks Carj, that's a very helpful overview of the unknowns and risks. Oh to know what PG and Lonny know.

I can think of
a) 2 that are not YET in production, due to licensing and cash flow issues (Aminex); and
b) 1 where the well was 'lost' due to water and sand ingress (Touchstone).

But not a stable production test that then failed to produce due to technical reasons. However, I'm sure others have more experience than myself.