The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
One reason to be negative would be delay after delay after delay and the fact that the supposed months we’re told we’re meant to spud clearly mean F all. The issue we have now is will it be March? How many more times will we be told one thing for it to not happen.
How can they shout about it from the rooftops when its price sensitive and information has to be very carefully collaborated and announced via RNS? Not to mention that the cores have to be assayed before they know what they've got. Absolute fool
I fully agree. For now at least i now have zero trust in the information we receive which is not good. The communications are an utter shambles. The only way things will be different and a spud in march can be taken seriously now is if we get information on the pad, rig contract and mobilisation in the coming months.
There might be little or no delay to CH1. It looks as though there is a bit of a pattern with the timing of Ruvuma operations updates:
01 Sept (Thurs)- Ruvuma Seismic and Commercial Update
01 Aug (Mon) - Stragegy/Company/Ops Update
08 Apr (Fri)- Tanzania Operations Update
02 Feb (Wed) - Ruvuma Operations Update
02 Dec (Thurs) - Ruvuma Operations Update
So, 4 of the last 5 updates have come on the 01st or 02nd of the month.
I’m guessing they have a monthly meeting of the JV partners at the end of each month. Then, if there’s anything material to report, they prepare RNS which goes out shortly afterwards.
Looking at that pattern, an RNS next Monday/Tuesday looks highly likely. This might explain why no RNS until now and might mean there is little or no delay despite the lack of news
Before those RNS though, there were a few towards end of month:
22 Oct - Ruvuma Operations Update
24 Sept - Award of Seismic Acquisition Contact
30 June - Ruvuma Operations Update
So, don’t get caught out!
Im with Gaslady, only a couple of weeks ago we were told still on track for November. If a new pad needed constructing, or there was a chance there would be a new pad it would/should have been communicated in the interims 30/09.
The Tanzania Petroleum Development Corporation (TPDC) has started the construction process of a 35 km long gas pipeline from Ntorya to Madimba. The process has started by holding an awareness meeting for the citizens of Madimba, Moma, Mbawala and Nanguruwe Districts regarding the construction of the project which will start from Ntorya Village.
Speaking during the meeting, the Head of Mtwara District Hon. Dustan Kyobya has said that the initial stage of the research on the areas that the pipeline will pass has already been done and identified 12 villages. Those villages are Namayakata, Ngorongoro, Mbawala, Mwindi, Nachenjele, Mile kumi, Ding’ida, Likweta, Minyembe, Namidondi and Mendachi.
Kyobya said that the next step to take place is the property valuation exercise on the 20 meter wide pipeline. The aim of the exercise is to identify the development that took place on the land including houses, crops and other assets to determine its value and to prepare compensation payment procedures for the owners who will pledge the project.
In addition, Kyobya has asked the citizens of the areas passed by the pipeline developer to cooperate with TPDC when they pass through their areas in the valuation exercise.
“I ask the citizens to be truthful in providing correct information about the owner of the area and also give cooperation to the experts who will pass through your areas during the exercise to avoid various land disputes.”
Likewise, Mha. Emmanuel Gilbert from the Tanzania Petroleum Development Corporation (TPDC) said that the implementation of the project aims to increase the production of natural gas energy due to the increase in the use of natural gas in electricity production, gas use in cars, industrial and domestic use.
Id also argue that just about every element of the current situation is better now than when NT2 was drilled, and that claiming one poster on here was responsible for a 7p SP is a bit silly. Agree we need an update on operations though.