Member Info for highlandmatt

You don't have to be particularly innovative or have any patented IP to have a successful business. Subway makes sandwiches and turns over £7billion!

I'd like the government to give me a free range rover with a fuel card, but I don't think it's going to happen ;p

I'm sure PB said there would be a pipe for Casca and a pipe for Chinook. 2 x 20" for 500mcf/d.

I did my monthly top-up this morning. Had to pay 5.6p. Slightly miffed it has dropped back, but convinced that this will be much higher in a couple of years, so anything under £20m mcap is fine for accumulating. The investment case got better this week with EOR proving successful.

The odd penny here or there will seem inconsequential if either Morocco or Ireland come in. Just as with Touchstone. It took a year to accumulate a decent position, then got some more in the Covid drop of march/April. Sitting happy now. This will be the same.

I'm happy to receive tips on other potential investments, as long as there are considered research, not some 'it's gonna blow' ramp without any facts. How else do we find about the 'under the radar' opportunities? Otherwsie we would be at the mercy of the pundits and company PR. Shared knowledge is what these boards are all about.

My money is on the simple explanation. Someone that took part in the placing that is happy to sell for 4p.

Or an agreed pre-estimate of costs to rectify the breach.

I think the issue might be that as our BOD have other interests, and SCIR is not paying salaries in cash (although we seem to be via Gneiss), the temptation is to just see it as plate to be kept spinning. It's too easy to wait on Ruvuma, and they probably feel they have just given SCIR attention with the HE1 RTO, so now need to spend time on other responsibilities (like Block?).

Muckle - Memorandum of Understanding - an initial agreement in principle.

Heads of Terms - initial contract setting out the main points, usually with a commitment to develop more detailed contract.

Charlie. SASA will be paid off next year, and will then be nicely profitable.

Someone is hoovering up these large sells... someone must think there is value potential here.

Thanks Tobin. I've treated those aspects as included in Cascadura and Chinook output, as the gas produced will go down the same two pipes. So output is capped by the pipe capacity, but would have more resource so more life of production. The end of year resource update should be an interesting upgrade.

Indeed, many thanks BD. Hopefully just asking the questions reminds the BOD who they work for and that shareholders are watching.

I'm still digesting this, and pinching myself.
Cascadura will have another 4 wells added, to fill the 20" pipe at 250mcf/d. If Coho at 10-12mcf/d = $6m pa, then this pipe will run at 20x that = $120m per annum. Do we keep all of that, or does Heritage get some? (although Coho is quoted as 'net to TXP'. Let's call it $100
Chinook is being specced the same, 20" pipe. Another $100m per annum.
Even without the liquids, we are looking $200m net profit per annum, which on a 10x multiple gives $2bn or £1.5bn. Greater than 4x the current mcap, which would gives £6.60/share. Accurately using 209m shares equals £7.17 a share.
Without Royston, without Kraken.

This is lightning fast. Try exploration in Africa.

So let's get this straight. By year end 100mcf/d, and in time Casca and Chinook will have ten wells and need 2 X 20" pipes, and we drill Royston this year and Kraken next. And folk are selling? Bonkers. Just had another look down the back of the sofa and topped up again.

Nothing in for liquids either.
Someone check my maths and assumptions, please. If Chinook is half as good as Casca, that adds another £1?

Coho plus Casca gives $66m net (straight profit) per annum. So £50m.
Mcap £500m, just with Coho and Casca. That's £2.39 per share. Just announced that "we are done with dilution".
Nothing in for Chinook.

Brief notes.

1. 20" pipe to main gas line - capacity up to 250mcf/d.
2. Liquids to go to Catshill
3. Coho - will be online 2 months from final approvals (Mar/Apr?). $500k/month net to TXP.
4. Casca - zone 1 40-50 mcf/d by end of year. 4 x further development wells planned.
5. Casca deep - at least same as zone 1. So total 100mcf/d by end of year. Another target lower again 10,500ft.
6. Chinook - test delayed by testers work at BP. Start 1 Feb. - finish late Feb. Try to run tests in parallel with Casca deep. Plan extra 4 x development wells.
7. Royston - drill planned Q1 in to Q2. Deeper target 15,00ft named Kraken (plan 2022).

https://www.lse.co.uk/rns/WEN/operational-update-and-2021-production-guidance-rwxwj6o5nja224v.html

"Sustainable and responsible growth in Tanzania that protects long-term shareholder returns remains a priority for the business. 2020 was a very active period for the Company with a number of discussions initiated to support our growth ambitions and these remain on-going with key stakeholders in Tanzania." Quite cagey.