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Malcy's view :
"Zephyr is moving swiftly to the redrill of the State 36-2 well and is fully funded for it and has been refunded by the insurance company. Despite some weather delays at both the Paradox and the Williston which has temporarily shut-in production during January. More later…"
Remember ONHYM i.e. the Morrocan State, are partners in this. Predator probably need to run things past ONHYM first, before going public with any information. And I'm sure select Morrocan individuals would like to ensure their share of any prospective wealth, before opening things up to other 'predators'.
Https://www.lse.co.uk/rns/EEE/ilmenite-confirmed-as-key-titanium-mineral-ankqiq8buvbcbr2.html
Https://www.afr.com/companies/mining/sacked-ceo-sues-solgold-for-breach-of-contract-20231212-p5equr
Got to keep the Ecuador government in mind here. They'll be wanting to see economic benefits for their country. They can't be waiting around while Solgold, or whoever else, get their act together. If the Chinese or one of the big mining companies lobby the government enough, Solgold could end up having some of their valuable licences taken off them by the government. We just don't know what goes on in government circles.
Stating the obvious, but Solgold really need to put their hiking boots on and make a big push, or things are just going to keep sliding down the hill.
There is so much going on before the end of 2023 and at the start of 2024. It would be nice to get some updates over the next couple of weeks. From the third quarter results:
"Our Coho facility has been operational for over a year and has produced approximately 2.26 billion cubic feet of gross natural gas volumes through October 2023. The Coho-1 well had a workover completed in October 2023 which was designed to isolate and shut off water production from the lowest perforations in the well. The workover was unsuccessful as the packer collapsed after the well commenced dry natural gas production. We have sourced a second packer which is currently scheduled to be *installed prior to the end of November 2023*, with the well continuing to produce until we commence the workover.
In October 2023, we achieved average net sales volumes of 8,917 boe/d as follows:
· Cascadura field contributed net sales volumes of 7,234 boe/d (9,042 boe/d gross) consisting of:
- net natural gas sales volumes of 38.7 MMcf/d or 6,456 boe/d (48.4 MMcf/d or 8,069 boe/d gross) with a realized price of $2.43/Mcf; and
- net natural gas liquids volumes of 778 bbls/d (973 bbls/d gross) with an average realized price of $77.18 per barrel.
· Net average natural gas sales volumes from Coho were 3.1 MMcf/d or 519 boe/d (3.9 MMcf/d or 649 boe/d gross) at a realized price of $2.15/Mcf.
· Average gross and net daily crude oil sales volumes were 1,164 bbls/d with an average realized price of $77.18 per barrel.
Touchstone has designed a work program for the Royston-1X well that will isolate and evaluate the two uppermost zones in the wellbore and *expects to commence testing prior to the end of the year.*
The Company is preparing to commence development drilling on our Cascadura and CO-1 fields. At Cascadura, the third-party drilling company is on site to obtain the required drilling rig certifications. At CO-1, we plan to drill two development wells off an existing surface lease and have contracted a Trinidad based drilling company to perform these operations. The rig is currently undergoing certifications to drill a well for another party and once complete it will be mobilized to our lease site, *where we expect to drill the two CO-1 prospects in the first quarter of 2024.*"
Smickster - fair point. It'll be interesting to see if the company ask PIs for votes this time around. This would indicate the larger shareholders are not happy with the current board. For now, there's been no hints from the larger shareholders as to which way they'll vote.
RK - I believe one prospective bidder to be Chinese and also think they would readily deploy 'bots' to keep the price at a level. However, based on a couple of Warren Irwin's statements in the past, Western politicians are hindering this being sold to the Chinese. So where does that leave us? BHP don't appear to be interested, otherwise I think we would have seen some action from them by now. So no outright sale of the company, a JV with the Chinese with a free carry for SOLG? Hope not, because I don't think it'll bring lth's a fair recompense.