Member Info for jackie1

Another company changing news to look forward to. Italian licences in progress which will be announced shortly

These licences alone worth millions with the likes of ENI/SHELL spending £100m on the nearby licences

Continued strong focus on safety in 2021 despite one previously reported lost time incident ("LTI"); currently no LTIs recorded for over 90 days
· Gross average production for 2021 of 43,440 bopd, at the upper end of guidance range; gross average production in 2022 year to date of c.46,800 bopd
· Drilling of SH-15 progressing well; continue to expect start-up in Q2 2022
· Due to well productivity, the increase in gross production towards 55,000 bopd has been delayed
o SH-13 & SH-14
§ Following completion of the acid stimulation programme on SH-13, and the clean-up of SH-14, both wells were brought on stream in December 2021 and their productivity has been below expectations
§ An acid stimulation programme for SH-14 is currently ongoing
o SH-12
§ Following the early appearance of trace quantities of water, production from the well has been temporarily curtailed, in line with the Company's prudent reservoir management strategy. The Company is investigating options to maximise near-term production from the well
§ Water ingress is common in fractured carbonate reservoirs like the Shaikan Field. Gulf Keystone has historically experienced trace amounts of water in a few other wells and has been successfully optimising their production levels. The Company continues to expedite plans to add water handling to further optimise production
· The Company does not expect any material impact on reserves or medium-term production potential. Considering cumulative gross production of c.99 MMstb, 2P gross reserves are estimated to be 489 MMstb at 31 December 2021, based on the 2020 Competent Person's Report adjusted for 2021 production

Spudding of Theta West #1 Well and Operations Update

FY 2021 Unaudited Financial Highlights

· FY 2021 Total Revenues1 of US$230.5m (up 7% on FY 2020 on a like-for-like basis after adjusting 2020 Total Revenues of US$235.9m for an advance payment of US$20m from Lafarge Africa which was received on entering a revised Gas Sales Agreement). This is ahead of the Company's previously issued FY 2021 guidance of 'Total Revenues of greater than US$205.0m';

· Group cash balance of US$154.3m2 (up 46% versus FY 2020 year-end cash balance of US$106.0m) and net debt of US$370.0m3 (down 9% versus FY 2020 year-end net debt of US$408.7m) as at 31 December 2021;

· Total cash collections from the Company's Nigerian assets rose 11% year-on-year to US$208.2m (FY2020 cash collections of US$187.4m); and

· The Company is updating its guidance on the remaining items to report for FY 2021:

o Operating expenses plus administrative expenses4 are at or below the lower end of the guidance range of US$55.0m - US$65.0m, driven by the ongoing control of the cost base;

o Group Depreciation, Depletion and Amortisation of US$20m fixed for infrastructure assets plus US$2.3/boe (amended from US$19m fixed for infrastructure assets plus US$2.6/boe), an overall reduction due to the 27% reserves' increase in Nigeria as announced in the publication of the updated Nigeria Competent Persons Report on 23 November 2021; and

o FY 2021 Capital Expenditure for the year is significantly below the guidance of up to US$65.0m, following the successful drilling of the Uquo 11 gas development well and ongoing compression works which are now scheduled to complete in 2022.

FY 2021 Highlights

· Exceptional safety record with TRIFR of 0.88 (2020: 0.97) and zero LTIs in 2021;

· Record annual throughput of 834,607 tonnes ("t") milled, which was approximately 7% greater than budget, following installation of Mill #3 in H1 2021;

· Total gold production of 55,280 ounces ("oz"), in line with revised guidance of 55,000 - 57,000 oz announced during the Period;

· Total VAT refunds of US$7.2 million, plus US$4.3 million verified for refund by the TRA in January 2022;

· Gross debt reduced to US$2.4 m, following repayment of the US$10 million convertible loan note in April 2021;

· All gold sales unhedged and completed at spot price, with average selling price of US$1,801 /oz during 2021;

· Adjusted Operating Cash costs of US$1,081 /oz and an AISC of US$1,439 /oz;

· Singida's construction remains on track for first production in early 2023, adding a second revenue stream across the portfolio and further strengthening our diversified portfolio of assets in East Africa;

· Total capital expenditure including prepayments at Singida during 2021 of US$10.9 million;

· All three of Singida's Mining Licences have now been extended for a further 10 years to 2032;

· West Kenya continued to deliver encouraging assay results announced during the Period with an initial conversion of >100% of Inferred Resources to Indicated Resources of 117,600 oz grading 7.04 g/t, and work continues on the conversion of additional resources to the indicated category in 2022;

· Extension of current reserve life at NLGM to the end of 2026 following successful exploration drilling programmes carried out throughout the year with new discoveries at the Porcupine South deposit adding further life to NLGM once incorporated into the mine plan in 2022;

· Maiden dividend paid in April 2021 and interim dividend paid in October 2021, totalling approximately US$2.8 million during 2021

Highlights

· The MoU establishes the basis for Oracle and SSGC to explore and carry out feasibility studies for the potential development, owning, operating and sale of syngas from Thar coal to SSGC.
· Syngas produced from this arrangement would be integrated into SSGC's transmission and distribution network which delivers pipeline quality indigenous natural gas and re-gasified liquified natural gas (LNG) to domestic, commercial & industrial consumers.
· SSGC is a Public Listed Large Scale Company (LSC) and is a ****stan's leading integrated gas company - the Government of ****stan is the company's largest shareholder.
· ****stan is facing a severe shortage of natural gas, expected to be approximately 2,000 MMCFD in the next five years. Securing imported LNG has also become problematic given commodity and transport price inflation. Therefore the fundamentals for domestically produced syngas are very compelling.
· Feasibility studies will now be initiated with a view to entering into definitive agreements for the sale and purchase of syngas and evaluate potential for investment and support by SSGC in the project.

OPERATIONAL HIGHLIGHTS

Palito Operations

Fourth quarter gold production of 7,678 ounces, a 6% improvement compared to the same period of 2020 (Q4 2020: 7,254 ounces). Total gold production for the year was 33,848 ounces, in line with guidance and an improvement of 7% on 2020.
Total ore mined during the quarter of 44,599 tonnes at 5.81 grammes per tonne (“g/t”) of gold, resulting in an annual total of 170,261 tonnes mined at a grade of 6.59 g/t gold, a 17% improvement in mined grade compared to the average for 2020.
43,663 tonnes of run of mine (“ROM”) ore were processed through the plant from the combined Palito and São Chico orebodies, with an average grade of 5.90 g/t of gold, resulting in an annual processed tonnage of 170,799 tonnes at a grade of 6.61 g/t gold, a 17% improvement on the average plant grade for 2020.
3,318 metres of horizontal development completed during the quarter, bringing the year-to-date total to 12,694 metres

2 Bourbon fleet vessel very active side by side to drillship happens to be revovering something

Oil

Total will keep it very tight on any leaky news so i guess once they have reached the TD

So now we have Graff-1 with oil discovered and drilling deeper

Venus 1x noise of oil discovered and drilling continues

In that case we have a guaranteed farm in partner joining us. Data room will get busy with multiple parties interested

Namibia could be the next place to invest in

Same one when i mentioned something interesting was found before the news on Graff-1 oil was discovered

Lets see how Total release this

Most probably finish the drilling and release all the oil payzones together

We have some news from Venus 1

Oil zone coming from the same source as Graff-1 well

Oil find is a reality

Discovery well

Watch the space

Hydrocarbon exploration in Namibia was given a massive boost, with word spreading fast within the industry that Shell’s high impact Graff-1 exploration well offshore Namibia has discovered light oil.

https://twitter.com/toptradersadvfn/status/1484526790567727105?s=21

Bacanora Lithium plc (AIM: BCN), a lithium development company, today announces an update to the level of acceptances and the level of ownership by Ganfeng International Trading (Shanghai) Limited ("Ganfeng") in the Company as at 1.00 pm (London time) on 20 January 2022. Bacanora Shareholders are also reminded that Tuesday 25th January 2022 will be the last day of trading for the Company's shares on the AIM Market, as with effect from 7.00am (London time) on 26th January 2022 admission of the Company's shares on AIM will be cancelled.

Ganfeng shareholding in Bacanora

Ganfeng has received valid acceptances of 235,987,368 Bacanora Shares in relation to their Offer. Once all related shares have been transferred, including Bacanora Shares accepted into the Offer by option holders under the Rule 15 Letters, Ganfeng will accordingly own 349,491,378 shares in Bacanora equating to 90.3% of the issued share capital.

Level of Acceptances for Satisfaction of Compulsory Acquisition

If Ganfeng receives acceptances under the Offer in respect of, and/or otherwise acquires, both 90 per cent. or more in value of the Bacanora Shares to which the Offer relates (as defined in the Companies Act 2006 (as amended) (the "Act")) and 90 per cent. or more of the voting rights carried by those Bacanora Shares, Ganfeng intends to exercise its rights in accordance with sections 974 to 991 of the Act to acquire compulsorily the remaining Bacanora Shares on the same terms as the Offer. Based on the figures noted above, Ganfeng has currently received valid acceptances equivalent to 86.2% of the Bacanora Shares to which the Offer relates.

So rumors graff-1 well discovery with 2 weasels on site recovering oil

Trading in the second half of the year has been strong. Revenues and viewing numbers across the Company's advertising network have been robust, and Brave Bison's agency won several new customers during the final quarter of the year. Furthermore, the integration of Greenlight is well advanced and all previously identified synergies for FY21 have been achieved

Kola Potash Project
· The process to potentially finance the construction of the Kola Potash Project ("Kola" or the "Kola Project") progressed in line with the Memorandum of Understanding ("MoU") signed with the Summit Consortium ("Consortium") in April 2021.
· The receipt of the Interim Report for the Optimisation Study ("Study") on the Kola Project was announced to shareholders on 10 November 2021.
· The Company expects to receive the following from the Consortium by the end of Q1 2022
o The completed Optimisation Study Report.
o An Engineering, Procurement and Construction ("EPC") contract proposal for the construction of Kola consistent with the 2017 2nd edition FIDIC Silver book.
· The Company expects to receive the Consortium's financing proposal for the full construction cost of Kola 60 days after the successful completion of the Study.
· Kore Potash management continued to brief potential offtake partners with the capability to procure all the planned Kola MOP production.

Trading

The Group performed well in the first half, despite inflationary pressure and expects to deliver half-year results in-line with the Board's expectations.

This reflects continued strong operational performance and the confidence outlined in our full year results announcement in September 2021.

Strong peak performance in Clothing & Footwear with continued growth in strategic brands


Highlights

· 5.5% growth in product revenue from strategic brands
· Strong performance from Clothing & Footwear through peak trading; Home & Gift lower year-on-year against tough lockdown comparatives
· Returned to year-on-year growth in active customers
· Financial Services revenue trajectory steadily improving
· Appointment of Digital Chief Operating Officer

Looks like Shell Graff well discovery

Nice post on oil recovery vessel at drill site

BOOM