Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Get up...get on up :o))
https://www.youtube.com/watch?v=1UzZUfFUnxY
Despite all the negative posts, anyone who invested near the below £1 13 months ago has done OK and especially as they had the opportunity to 3 bag at the end of August 2018.
https://postimg.cc/G8kg2pDY
EWT to finish in Spring 2019, then a pause until HH2 / HH1z have been drilled and then they should be back producing from these wells instead assuming no mishaps on the drilling.
"Based on the continued Kimmeridge EWT success and October's announcement of Portland commercial viability, HHDL plans to continue HH-1 EWT production until the expiry of current permits in spring 2019 and then to move directly into the drilling and long term testing of two new horizontal wells, HH-2 and HH-1z, for which UKOG's internal funding, planning consent and environmental permits are in place. HH-1 is located in licence PEDL137 in which UKOG holds a 46.735% beneficial interest."
What does David Lenigas have to say? LOL!
Well, seeing that insiders knew from the 4th December that the commingled test had started (not private investors until now), the drop over those weeks which everyone was wondering why after tankers daily leaving the site can now probably be understood.
Those hoping for a quick profit before Djeno are being denied by the 10p holders. Expecting this to bob around 10p until news...60 million new shares to wade through.
As was seen as GKP recently dropped below 185p support on low oil prices it is now back above 213p support level.
Brent Crude currently $60 a barrel.
https://markets.businessinsider.com/commodities/realtime-list
Trucking of oil to end too...
"Further progress has been made, including delivery of all 16" pipeline to the field, on the installation by KAR Group of the pipeline also connecting PF-1 to the Atrush export pipeline. This remains on schedule to be brought into service mid-2019, at which point the residual trucking of crude oil will be eliminated."
Yes, a nice turnaround happening here...
Commenting, Jón Ferrier, CEO, said:
"Having successfully laid the foundations for our expansion plans in 2018, we are very pleased to have now initiated our new investment programme at Shaikan. We continue to make considerable operational headway as we look to safely increase production to 55,000 bopd, in line with our strategy. 2019 is set to be another important year for Gulf Keystone and we look forward to keeping our stakeholders updated on our ongoing progress."
I missed out the paragraph before which actually says the commingled test started on 4th December....
"Commingled KL3 and KL4 production from an aggregate 187 ft perforated interval commenced on 4th December at a maximum half-hourly rate of 426 bopd and continued throughout the Christmas and New Year period, producing 8,829 bbl of 40° API crude. The programme included several pressure build-up tests and testing of different pump configurations, settings and equipment."
This is nowhere near what people were expecting for both layers to flow at. However the well is no doubt commercial and will generate revenue for Ukog´s future.
So, the oil is now flowing from the commingled test KL3 + 4 as from 7th January....
"Following the installation of a new downhole pump and an optimised surface hydraulic pump unit, stable commingled production resumed on 7th January at an increased initial rate of 525 bopd. The sustained daily rate over the subsequent week averaged 303 bopd. A de-waxing treatment applied on 14th January led to an increase in hourly rate to 351 bopd. Commingled production continues."
https://www.investegate.co.uk/uk-oil---38--gas-plc--ukog-/rns/kimmeridge-oil-production-continues-at-hh-1/201901160700021919N/
Back over £2 now people.
I see the new technical report has been published. 187 pages! So much information, its hard to find the relevant information on gold reserves. Pages 167, 182 and 183 though suggest to me that the report is not conclusive and further drilling needs to be done.
http://www.orosur.ca/images/2019-01-10-ANZA-TECHNICAL-REPORT-FINAL-English.pdf
A disappointing RNS released just before close yesterday. All now rests on the appeal to the Swedish government. I thought that moving the tailings facility away from the reindeer would have been a solution...seems not.
"Commenting today, Managing Director, Richard Clemmey said: "We are disappointed that the Mining Inspectorate has taken this decision based on the application in its current form. We, together with our Swedish Lawyers, will appeal the decision to the Swedish Government and will now assess the future options available to the Company"."
Yes, not too shabby trading update.
"· Year-end net debt estimate reduced to $35 million (from $65 million previously) as a result of lower capital expenditure.
· Cash and cash equivalents estimated at $323 million with gross liquidity available (cash and undrawn debt facilities and after assuming repayment of the Bridge Facility on 3 January 2019) estimated at $390 million. The 2018 leverage ratio (gross debt/cash flow from operations before working capital adjustments) is estimated at 1.5 and 2018 year-end gearing ratio (gross debt divided by gross debt plus equity) is estimated at 32%. On a net debt basis, the leverage ratio is estimated at 0.2 and the gearing ratio at 5%. The company's balance sheet therefore remains strong at year-end 2018."
400 bopd would be a start, after the next placing of course (winking emoji)
The fundamentals? When Aaog starts generating some revenue to cover costs is what matters. Not happening yet is it?
bonker99, why would I be sweating? The flippers are the ones who are sweating and that is why the SP is struggling to breach 10p. Let them sweat. These flippers deserve to lose money as they have so often made lots of cash from PIs in the past from being insiders to previous discounted placings. Let them sell at a loss. Hold and wait.
Long term holders? No chance, no flippers are going to risk their wads on a 25% COS for a long term hold. They always are out for a quick return, its the next one up from CLNs. Institutional investors are named as significant shareholders on proper shares.
The post placing pump yet to come may just be because they need another placing. David Sefton, he did it once, can he get away with it again? Not with me anyway.