Member Info for indi123

Forgive my ignorance, however have Touchstone definitely committed to providing the market with an update next week?

It'll be interesting to see how the Canadian market behaves over the next couple of sessions.

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.*"

Isn't SOLG listed in the UK and Canada?

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.

Bulletin

Private individuals can rant as much as they want on a bulleting board, however I suspect the votes of PIs will make little difference to the overall outcomes at the AGM.

FWIW and IMHO, I also believe the Strategic Review / JV / Sale Process has been impacted by geo-politics. On the one-hand Western governments do not want the Chinese to get their hands on such a valuable asset, while on the other hand the Ecuadorians appear to prefer the Chinese being involved. Add to this the 'diverse book' (dare I say), and we've ended up in stalemate with the share price suffering as a result. The million dollar question is, how do we get out of this royal mess?

LoveHandles Posting Statistics:

12 lifetime posts (since 2020). All 12 posts on Empire Metals. All 12 posts of a sceptical/negative nature. Why all of a sudden would someone start posting negative sentiment on a bulletin board for a company which they are not invested in? There's some strange people out there :-)

Dickupham mask slips a bit - not sure if it's xenophobia or islamophobia. Either way, not a nice thing to be.

Marineclark filtered - too much of a personal agenda. Talks it

"marineclark

Posted in: JOG

Posts: 1,269

Price: 262.50

No Opinion

RE: Price rise23 Nov 2023 09:12

Sometimes Rogadar, the fundamentals can shift so that price holds at much higher levels. While the past has relevance, no one can predict the future. No doubt day traders will be selling, and taking the quick profit, but the risk is that they could be missing out on much further gains to come."

"marineclark

Posted in: JOG

Posts: 1,269

Price: 237.50

No Opinion

RE: Share price23 Nov 2023 16:28

Good luck folks. I took profit for 30 percent. Kinda disappointed the price hasnt rallied as much as I expected, and I would have stayed in for a little longer if not for CHAR who have a farmout immiment as well. I'll be back here swing trading, but for now, I'm out. Long term trend looks fantastic here, but as I'm not an investor, and lack the patience to hold for years I'll move my profits over to CHAR.

Good luck all."

Marineclark filtered - too much of a personal agenda.

"marineclark

Posted in: JOG

Posts: 1,269

Price: 262.50

No Opinion

RE: Price rise23 Nov 2023 09:12

Sometimes Rogadar, the fundamentals can shift so that price holds at much higher levels. While the past has relevance, no one can predict the future. No doubt day traders will be selling, and taking the quick profit, but the risk is that they could be missing out on much further gains to come."

"This is a truly awesome deal by JOG who continue to deliver on its promises to shareholders whilst maintaining the intense focus on proving that substantial developments in mature oil provinces can be closer to net zero than almost anywhere else worldwide. It will leave them with a 20% non-operated stake in the GBA, a development that others now share their faith in and a great deal of incoming cash.

In my conversation this morning with Andrew Benitz it was impossible not to detect considerable pride in the trust and perseverance of his team who have negotiated a deal which is a rare thing, a genuine win-win for not only JOG but also for NEO and of course Serica. With some $38m due to come in by the time of the FDP, JOG get a fantastic return on their investment but also for their partners this is a genuinely significant tax efficient investment opportunity.

For JOG shareholders the time has come to stop worrying and to enjoy the ride, they have great value to unlock thanks to this deal, with FDP next year and first oil in late 2026 they have protected any downside and opened up the upside and of course are in an enviable financial position with material value yet to come.

I have been a consistent believer both in JOG and of the GBA, today might be the crystallisation of all those notes and suggested values so it will come as no surprise that I genuinely believe that my Target Price, previously believed to be somewhat absurd at £10 per share to be easily achievable, I remain a big fan of JOG, its management team and of course the GBA."

From:

https://www.malcysblog.com/2023/11/oil-price-jog-serica-longboat-uog/

"The remaining funds of US$100 million being invested by Hainan as part of the Funding Package have been transferred by Hainan to Kodal Mining UK Limited ("KMUK") (a new subsidiary company of Kodal to be owned by Hainan Group and Kodal)."

Office, going off the chunky trades over the last few days.

Very dodgy indeed...especially 'cos they wait until 17:30 on Friday evening to release the RNS. They've probably known for some time that Mr Bollinger's not offered anything but waited until this evening to let the market know. Meanwhile over the last five days someone has been selling shedloads of shares. Crooks.

IMHO, the RNS is saying Kodal will receive the funds from Hainan by 15 November 2023, and the remaining outstanding items with the Mali government will be resolved by 15 November or at a later date. In the meantime, Kodal has agreed to pay back the funds if the licences do not get transferred across satisfactorily. So Hainan have agreed to transfer the funds on a trust basis even though the licences haven't yet been transferred.

Extract from today's RNS below :

"....Kodal continues to liaise with the DNGM to seek completion of the transfers as soon as possible and in the meantime these assets are deemed to be held on trust for the benefit of KMUK, whilst Kodal progresses the Bougouni Lithium project with the funding from Hainan.

Kodal has agreed warranties and indemnities up to US$100 million in relation to the waiving of these conditions precedent for the transfer of the Bougouni mining licence and the Sogola-Nord concession. The warranties and indemnities cover the period from Completion (as defined below) to the point of transfer of the licence and the concession, with a two year period for claims to be made. Kodal will warrant the good standing of the licence and concession at the time of transfer.

The parties are looking to finalise all remaining compliance items as soon as possible with the expected transfer of money (US$117.75 million in total, of which US$3.5 million has been received as a pre-payment as announced on 3 August 2023) for the completion of the Transaction now expected in the first half of November 2023."

.and the share price is going down. Probably safe to assume most of those trades are sells.

Tweet from February showing gas releases in Block SK334:

https://x.com/Uplandtweets/status/1630144957825662980?s=20

+8.49% on my screen.

Thanks for the tip copperpot. Did look into UPL it when you last mentioned it but didn't invest at the time. Just read today's RNS, phenomenal offer rejected; so got in this morning.