Member Info for highlandmatt

CB will provide the funds to monetise. $1m a month in to the drilling kitty instead of Shell's cashflow. Even 1 CB well a year would be more than Shell did.

Snorlax filtered. BB much better now.

Agree JH. Wouldn't surprise me to see a large late reported sell which is currently being worked by Peel.

Full Ask getting hammered. Expect a tick up shortly?

Well well.

Yep. Cannacord. 175.

ML with farmout or JV?

No need for name calling.

As our test is ready to go, reduced government funding for R&D helps us by not helping competitors.

Cas4 spud was 19 Jan. Released on social media. The Discord is a good place to find info. Timing depends how deep they go. 4-5 weeks maybe? It's targeting gas, between Deep and Cas 2 gas wells.

Look like placing shares being churned to me.

Two big sells in the last half an hour. 750k and 200k. Possibly worked through the day, although there are other decent sized sells at intervals as well. Placing shares being churned for 12% profit. Plenty of buying soaking it up though.

Indeed, those complaining that the fund raise went to the broker forget they now have the opportunity to buy in the market at 4.3p-4.4p, and thereby participate.

The mud discussion is a good example I think. From memory, and correct me if I am wrong Keith, as I recall you looked at this in some detail at the time it went something like this:-

Mou1 - drilled as per Rharb, but higher pressures encountered, so mud weights increased.

Mou2 - different mud used in anticipation of high pressure, but reacted with clays not seen before, stopped in seal before TD.

Mou3 - reverted to original mud, encountered high pressure in shallow sands, so mud weight increased, then encountered lower pressure gas deeper, so formation damaged.

Mou4 - seemed to be drilled ok, with minimal issues.

So, very much a learning exercise with each well having different mineralogy. Hopefully now set up for Mou5. If you had spent money on testing or 3D seismic, you wouldn't have that amount of down hole data and experience of what will be encountered in the biggest impact drill the company will undertake.

Thank you BRV for the reminders.

Doesn't look like 'nothing is being done' does it?

I think that is true MJ. Part of it was spent on Mou3 testing, and the CNG studies, but not all. Not unheard of - Touchstone raised for a Royston sidetrack, but in reality part of the funds were for finishing the Cascadura facilities.

$2m bought the field. That's just to get in the front door before you start any work.

Off the top of my head, $2m went in to Cory Moruga, $0.5m for Mou3 perf guns, $1m for Mou3 sand jet, $1.5m in G&A. So that's $5m. Then you've got the civils work in T&T and for Mou5. Very easy to burn money in O&G exploration.

I wonder if there is an element of strengthening the balance sheet as a defensive measure?