Member Info for HopefulDave

There was a 465,000 buy order on L2 at 21.5 on my screen during auction but gone now. Didn’t get a screenshot as gone. I hope they come back!

Well that’s made my holding look small. But nice to see someone else has the wisdom / balls to go deeper than me (excuse the phrasing)

I imagine it’s still all hands to the pump in Kansas / DTU / Nitrogen play at the moment. Hopefully the team have been busy looking at any one / combination of the below: Looking into data on the other formation from the other operator. Looking into additional acreage / land deals in Kansas based on current find and above. Either planning to or installing equipment capable of liquifying and storing the gas accordingly. Looking at plans to sell what we aren’t currently using ourselves. Looking at DTU tests - revisiting DTU tests that didn’t quite get off the ground before, but now the costs potentially significantly reduced with our own Nitrogen source - carrying out more tests. Just carrying out more DTU tests or lining these up. In short. - we *could* hear any of the above have happened or about to happen which could create a lot of excitement here. DTU - progress being accelerated would be very good news. Nitrogen sales themselves would be amazing news in terms of additional revenue stream. I’m assuming most of their focus is on DTU / Kansas right now. ED is being dealt with by True so just ticking over and will produce more $ soon enough. Helios has the plug to be drilled out, shouldn’t be high $cost operation, but will then involve several key players analysing data etc so might just sit back on that until Kansas plays out. WD - can’t see any spacing requests yet, so maybe again something to plan on in winter through Oct-Nov-Dec ready for drilling in Spring 2019 perhaps. There is plenty of activity going on I’m sure. Plenty of projects, but it’s all about spinning the right plate at the right time. For me, now, Kansas would seem to be that plate. Then once ED is online (8 wells) look at Helios perhaps / WD planning. But I feel something is a brewing down there in Kansas and with the potential of additional revenue + accelrating DTU I expect news on that first, but could be totally wrong!

Jbatch, you are asking all the questions you should ask before investing!! :) Why did the revenue fall? 1.) Decline rate in wells, over time they produce less (research decline curve) 2.) we divested our working interest in the 2 wells and the remaining wells at East Denver for an up front payment of ~$5.4m and retain 7.5% “free carry” Are the new Wells oil? Define new wells?! The 6 in East Denver - Oil and gas The ( n ) in Kansas - Nitrogen + maybe something else. The ( currently up to 48 in West Denver) Oil and Gas. The CO2 - play CO2. Helios - Methane and Helium. What about the Nitrogen? Reports seem to suggest it is as quite sizeable? The flow rate would suggest so, waiting for details on the other formation, and perhaps acreage expansion there.

Indeed bar another curve ball (aka CO2) I think it’s more than likely we will see a Kansas / DTU related RNS next. I think the focus has shifted toward oil recovery and our DTU play for now. That said, the possibility of additional Kansas acreage, possible commercialisation of the Kansas assets (sales of nitrogen) and DTU progress are probably the likely ones. Additional acreage could also come in WD, and potentially partner related news for it, but probably get the spacing / well plans in and visible with COGCC before other news on that (partners) Moving into the completion phase at ED is only a matter of time, however I think it’s likely we will get Kansas news before then. Either way. Strategy update is coming, and I think we’ll see progress there. Unless we see revenue options / achieved from Kansas already we may hold any Helios work until ED is online, but I guess that depends what $ that would take simply to test that stage and see where we are at with it.

Funny 2 townships doesn’t sound so big does it but 72 square miles is a lot of land!

Said for ages it would be those warrants rinse and repeating, noticeable how the SP has moved more freely last few days. Happy to see back of them.

Assuming it’s flow rate stabilised and didn’t continue to increase, since the 29th June it would have produced 28,391 MCF in 11 days. Our Parent Well Protect test in the Piceance Basin used 12,000 MCF. Less than half that. I would hope that we are looking at selling some, either that or we would have gathered enough to perform a fair bit of DTU work already. The 12,000 MCF cost $11.70 at $140,400! The Permian Basin 8,762 MCF $9.04 at $79,200 Basically they probably cost more than the well did to recomplete and in 11 days we produced enough Nitrogen for both of them with some spare! I’d hope we are in a position to sell some and I hope we are close to it (assuming haven’t used some on DTU test already)

Very true.

How many second hand possibilities do we have on the acreage I wonder?!

Or $266,000

i.e. an entirely brand new Kansas well? :)

Wow. Hope it stays like that for WD or goes up!

SL. -why would it kick the can to 20Mtpa down the road? First we need to get to 10Mtpa , then 13Mtpa then 20Mtpa - To do the latter, we need to sink the MTS shaft down to the seam. That will take a fair bit of time. One assumes, in that time, one could build the originaly required 10Mtpa infrastructure, thus expanding our capabilities to 20Mtpa. What matters is that we have an upgrade path that doesn’t hinder existing production. If we have ramped up to 7Mtpa and have then secured forward sales to satisfy our need to go significantly above 10Mtpa we can either: Build and start our own port development, alongside working on our shaft sink of the MTS shaft. Or Engage someone else to built and operate the port for us? Options.... either way, and options that could start long before we hit 10Mtpa...?

Well. Using what’s already there = it’s part built already, so fitting out with what we need should help expedite its build. That also might mean we draw down the funds for what we need to do later rather than earlier in the project, if we don’t need to construct an entire facility. We won’t know the entire financial benefits until later when we see a revised budget and more details on ST2, but I imagine it’s: Less cost (capital) than building our own. Quicker than building our own. Possibly can push the capital draw down for it further back in project (less interest) Less risk if already part constructed. Fundamentally what we were doing with the port was one of the larger pieces of the ST2 puzzle remaining, alongside the shaft sinks etc the construction from scratch was not a small cost. I’m sure on the mother of all project plans this bottleneck is now removed and lots of spin of tasks are enabled, and a number completed! Would love to see that plan!

Sounds perfect. Looks like it limits our port costs day 1, so should reduce capital required to develop. Longer term when producing, we have the ability to take it the process in-house and develop our own facility. Why spend the money now as debt, when can invest some of the future profits to taking it in-house and potentially reducing costs later. Our little baby just took another step. :)

Lol World Cup. Holding these till along way past 30p!

My bad!

Yes hopefully makes sense then, probably finished at end of the week and hence the inspection on Monday?!

From inspection on 07/02... Nothing overly exciting.

http://ogccweblink.state.co.us/DownloadDocumentPDF.aspx?DocumentId=4513459

Imagine Thunder be done soon.

Hey Chesh. Yup I’m good. Not gone to the side of the Spirograph just yet! :) Just need the TorP button over there and the Nitro button over here!

Meh. Tick tock. Next week: C02 - should have confirmation / ratification on the leases (said would be within 2 weeks - so hopefully any company update can include they are done and dusted) Kansas: - update regarding flow rate perhaps? Kansas: - update on other formation ? Would hope we may have details on that before long. ED: should hopefully be on to the last well. Bonus round? Increase in WD or Kansas acreage - perhaps? If squiggly lines say we due to rise also, all well and good. :)

All in the messages below. If you are referring to how many of the warrants expiring at the end of July have been sold in to the market already only the holder would know.