Member Info for highlandmatt

I don't hear anything that isn't in the article? It's a verbatim reading?

And SASA is almost paid for, and will be a cash machine. A great purchase by a very prudent and astute BOD.

Agree with all of that Scott, except in my view Cascadura is already the company maker. The cashflow that will generate from 6 development wells is significant i.e. enough to support a mcap of a few hundred million £.

That of course then makes Royston special, and Krakken the stuff of dreams. I can dream...but this company will look very different again at the end of 2022. 2019 was the first Ortoire discovery, 2020 announced Cascadura, 2021 is first gas from Ortoire, connecting Casca production and drilling Royston, 2022 is more Casca production and drilling Krakken. It's going to be a hell of a ride.

I'd love to know what they've got out of Chinook with the pump, and then what the pressure test shows. Paul has said 60-90 days for investigations. All the while Royston is progressing. End of July could be pivotal. Two bits of negative would be not good, although I don't think that is likely. Firstly I think Royston has a reasonably good COS (following the old Shell logs) and secondly Paul is smart enough to manage the news flow. Two bits of positive news could blow the doors off.

Lots to look forward to.

Nico - I thought the binos lost overboard from the dinghy were Swiss?

Suspect Scirocco is up because it's shareholding in He1 is rocketing.

https://www.proactiveinvestors.co.uk/events/

Could be some snippets re Tanzania and any potential M&A?

https://www.proactiveinvestors.co.uk/events/

Might be snippets about Tanzania and M&A?

Exactly EvenL. Sub £1 when what has been found/declared to date is worth 150/160?! Is it too soon to start wishing for positive news on the Chinook EWT and Casca Deep pressure test? Or do we think we'll get a bumper RNS with these plus Coho first gas and Royston spud all bundled together?

Thanks Badkrukan, Smasher. You wouldn't think it was worth selling at 101, 102 when the placing was what, 95p?

I see we still have persistent sellers. Blocks of 10k or 25k shares. Are North still in and dripping in to the market for their regular income?

Indeed Bully. Even using 400b/p for each interval / well, @$20 = $2.4m / well. X6 = $14.4m, so say £10m. Another 50p.

The potential numbers in 2 years are staggering, before anything for Chinook, Royston or any other target.

Indeed Smasher. I was just doing some back of envelope calcs for the further 4 Cascadura development wells. 6 wells @ just 20 mmcf/d = $72m per annum (using Coho numbers). Let's say £50m. X10 p/e = £500m mcap = approx 250p/share. That's just Cascadura. Add 10p for legacy oil in the west, add 20p for Coho. Just wait or accumulate at these prices.

Is it possible sale of part of the He1 stake is not determined by the He1 SP, or the He1 drill program, but instead by the need to have some cash as part of some M&A activity?

I know market confidence in TXP has taken a bit of a knock, but this is an excellent entry point for exposure to the Royston drill. Underpinned by first gas from Coho on stream shortly, 2x Cascadura wells later in the year, Chinook on test. And fully funded. In a year or two we'll be looking back and saying 'remember that panic about Chinook?'.

Without any news, sentiment can go down as well as up.

Plus any traders that bought the dip at 85-90p, selling having made a swift 20%. Plus plus there seems to be a regular seller of 10k chunks.

Thanks Scott, Monkey. Really useful info. I'm sure the company is probably doing a review of 'what happened?' themselves, and hopefully we will find out in time. I suppose the thing to remember, is that exploration in deep wells is never straight forward, and it might take another two or three wells before they really understand Chinook?

Potential damage to the Chinook well was something PB said was being investigated. Daft question - are there any differences in practice if you think you drilling for oil or gas, and impact if you hit the other? I've tried to research, and the Geology seems to have more impact than the target. However, would appreciate illumination from those with more O&G knowledge and experience than myself.