If you would like to ask our webinar guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.
Clem
Resource Estimate is just that, an estimate. Yes the news won't do any harm, but it won't be enough to sustain any significant rise in the SP. It will spike n fold, as day traders have their dirty ways with it
field development/a ton of appraisal wells need to be drilled to prove up the field first. The market isn't stupid. Until HE1 call an official discover, the SP ain't going nowhere
Yeah, yeah, yeah, Bas, whatever, your just cutting n pasting the same old, same old, that we've all read a million times before
The fact is you cut n paste all the fluff you want, the market won't do anything until the well test confirms an outright discovery
Until then the SP will slip, as I and others have been pointing out for the past 2 weeks man
IG
It says in the RNS thar sourcing the equipment will take time. But yeah, a Coil Tubing spool can weigh up to Top end of 20T, you wouldn't want to be trying to move that around on the back of a wagon during rainy season when the ground is muddy
Glib
Yea, they need licences for appraisal/development/production etc. It says in the RNS that everything is going well with the Gov regarding this, so come summer, they should all liciences signed off ready to go
Everything you need to know is in the Petroluem Act 2015 revised edition ....I've put a copy in the Tele group
Noble have it priced at around 7mil (they raised 14mil for 2 wells, so 7 is a ball park figure) and then 6+ mil for drilling an appraisal (should they decide to do so) or however much to TD Tai 3. Bear in mind, even with a JV, they'll need funds to well test either the appraisal well or Tai 3
Well test usually takes up to 4 weeks
'The outcome of this, as well as the planned EWT, is subject to securing the necessary long lead items required for such operations'
Availability Mr Wolf, getting hold of a well test spread is not always easy, especially in that neck of the woods
It sounds like they want to drill and test. So they would need to raise for both
No news will trump a discovery RNS. Any good news from here on in, will be pumped n dumped upon by traders. 4 months of stagnation with a few blips along the road for traders to exploit and then a nice SP humping placing to look forward to, before they finally get back to business
People still aren't grasping it
Now this is what the market are expecting =
https://www.eni.com/en-IT/media/press-release/2024/03/pr-eni-cote-divoire.html
Until the market receives something similar, I.e. an outright declaration of discovery, the SP is going nowhere. Now they cannot make such an announcement until after well test in 4 months time, maybe longer. Investors are not going to sit on their hands waiting for a dilution to fund the well test, dramatically reduce the value of their investment. When they can simply jump back in, in 4 months time and make a profit. Its a no brainer