Member Info for Jasper13

£2m placing

Empyrean and Condor Energy will become Joint Venture partners with the current leaseholder of ATP1173, Chi Oil and Gas Pty Ltd ("Chi Oil") and Condor Energy. Empyrean have an option now signed to secure a minimum of 40% in the JV. So the JV will consist of 3 parties - EME/Condor/Chi.

Chi Oil and Gas are the holders of the licence and Condor Energy an experienced Australian based well services and drilling company. Condor have drilled many wells in the prolific Cooper Basin.

EME are funding 2/3rds of the drill cost AUD$2.4m (£1.4m) and Condor the balance £476k. This is being overlooked and to a degree unheard of by many and must signal that Condor see a high chance of success for the drill (no public data yet).

Next news catalysts:

> final pre drill surveys/permits

> confirmation and finalisation of drill contract with Condor

> farm-in and Joint Operating Agreement with 3 JV partners

Could land anytime.

Wilson Drill...

Low case scenario (8.7MMBOE) - 50% recovery factor/$44.80 gross profit per barrel (based upon Bass Oil Worrior & Padula field - Cooper Basin.

NAV - 10 year field span/10% DCF/40% share to EME = $47.9m NAV - £0.0119p

Mean case scenario - (21.3MMBOE) - 50% recovery factor/$44.80 gross profit per barrel (based upon Bass Oil Worrior & Padula field - Cooper Basin.

NAV - 10 year field span/10% DCF/40% share to EME = $92.6m NAV - £0.0231p

Mako....

NPV10 of US$49m (Sept 22 RNS)

£0.0121p

Buyer willing to pay say 50% of that value - £0.0062p

So Wilson low case £0.0119p + Mako £0.0062p = £0.0181p

And today we are at £0.00165p!!

Thats 11x value compared to today..........

So Wilson mean case £0.0231p + Mako £0.0062p = £0.0293p

And today we are at £0.00165p!!

Thats 18x value compared to today..........

See details and location of the ATP 1173 licence in the presentation.

https://diamantinaenergy.com.au/wp-content/uploads/2024/02/Diamantina_presentation_v17.pdf

Yes Q&A been removed.

Anyone seeing that the presentation has been clipped from the full 2 hrs to just under 1 hr?

Massive sentiment change here. Where as before shareholders were awaiting on EME's sell down of the 8.5% stake in Mako, Wilson now adds a new dimension to their portfolio. Mako news from Conrad announcement is due anytime. This should generate at least $20m to EME for their divestment in Mako. Tom (CEO) has confirmed there are tag along clauses in the Mako contract, so it's almost a given that this event occurs. £3.5m market cap is insanely undervalued for what can transpire. Add on to that a successful outcome of the Wilson drill in March, this becomes a game changer for the market capital.

BenNa...very optimistic I would say.

Take the mean number of 21.3MMBOE, apply a recovery factor as of say 40% = 8.520MMBOE. Approx oil price of say $75/bbl = $639m. Call that an approx. Still way undervalued if its declared commercial.

Broker just sent out email comms with picture and following narrative :

"levelling the access road to the MOU 5 well pad construction site"

News on creditor agreement could be on the way, plus more detail of plans to monetise the asset. Could well be a JV/farm in on the cards. Very undervalued

Two posters have sadly lost their lives recently, who contributed their views on PRD. They believed rightly or wrongly in their investment but will not be around to see whether it plays out or not.

This board has descended into a cesspit of vitriol with no consideration towards others. People intent on here delighting in others losing money, selling out, calling it right or just general name calling. What type of world do we live in when it resorts to this?

Would these discussions take place face to face, I doubt it. Hiding behind a keyboard and anonymous name. Easy isn’t it.

Think of Hampshirelass and Sefton when you carry on spouting your vile vitriol. One day life will bite you.

This is supposed to be a forum to discuss and debate rationally. It can never be that ever because very disgusting disrespectful and disingenuous individuals pollute this board daily.

People on here should be ashamed.

Swabbing an oil well typically takes anywhere from a few hours to a full day, depending on several factors. Swabbing is the process of removing fluids from the wellbore to reduce hydrostatic pressure and allow the well to flow naturally. Here’s a breakdown of the factors that influence swabbing time:

1. Well Depth: Deeper wells take longer to swab because there’s more fluid to bring up.

2. Fluid Type and Viscosity: Heavier fluids, like oil-based muds, take longer to remove than lighter, water-based ones.

3. Tubing Size: Larger tubing allows for faster fluid removal but can increase the time for setup and operation.

4. Swabbing Equipment and Technique: The speed and efficiency of the equipment, as well as the skill of the operator, play a role.

5. Formation Pressure and Permeability: Low formation pressure or low permeability formations may require repeated swabbing cycles to initiate flow, increasing time.

Bold…. Is that because you’re Captain Sensible? Just saying? 😉

Not showing all buys.....4.1m bought ....not showing

Mattpr1......think you'll find thats £500

You are obviously deaf then...did you not listen to the Q&A fully? 7mins in take a listen.....

Fully funded to drill MOU5....7 mins..... think that confirms it!!

Do you have a source for that? Or just conjecture? thanks

Spread is now 13.7%

Steady buying all morning. Positions perhaps being taken in advance of sell down news for Mako.

Or have Nortrust continued to increase their holding? What do they know?