Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Nice find!
I think it might be time for a 'top-up'.
jmo
Even putting the current testing program aside, ...remember they've ALREADY demonstrated robust, commercially viable flow rates at the other Zones in Cascadura.
From the RNS of March 2020:
"Stage two flow testing supports an initial production range between 7,750 and 9,700 barrels of oil equivalent per day ("boe/d"), including an estimated 40 to 50 million cubic feet per day ("MMcf/d") of natural gas and an estimated 1,100 to 1,400 barrels per day ("bbls/d") of natural gas liquids, significantly exceeding pre-drill expectations."
Paul Baay, President and Chief Executive Officer, commented:
"This second test, focusing on the upper 345 feet of pay, confirms the material size of the discovery at Cascadura and the vast opportunity that exists on our Ortoire property. In addition to estimated production at our Coho discovery and our existing production, this well gives us a clear path to 10,000 boe/d with an estimated 75% natural gas and 25% liquids product mix."
https://www.lse.co.uk/rns/TXP/cascadura-tests-combined-av-of-over-10600-boed-6v60fzjbuyb0eij.html
jmo
Sounds very encouraging!
This particular part stood out to me:
(b) The Lower Basin Floor Fan
"The lower sequence is over 1,000 ft thick with interbedded, oil bearing reservoir sands and shales. This zone as mapped on seismic data extends over more than 80,000 acres on Pantheon acreage and hence, if successful, its potential is extremely large..."
Very nice : )
Fingers crossed for good test results!
jmo
I'm looking forward to the resumption of testing activities, so they can continue proving up the world-class prospects on the Ortoire Block.
Also, as we move forward, and production from these prospects start to come online, ...I'm anticipating massive amounts of free cash flow, pouring into TXP's coffers.
Exciting times indeed.
(I recently added to my TXP position).
GLA.
jmo
From the spud RNS:
Bob Rosenthal, Technical Director of Pantheon, said:
"The Talitha #A well is geologically significant as the well location will assess four independent targets over three potentially giant oil fields, unique in my over 40+ years' experience."
Jay Cheatham, CEO of Pantheon, said:
"We all understand the impact this well has for Pantheon. Most of us have waited our entire careers to drill a well of this significance."
Multiple independent zones, ...each one a potential 'company maker' for PANR.
Exciting times indeed.
(I recently added to my PANR position).
GLA.
jmo
Good that they got it to flow for a little while on it's own, ...but it sounds like there's still a lot more 'clean-up' to do with this well.
"... enabling production testing to commence in the coming months during the dry season."
Yawn.
I'll probably check back in on this one in a few months.
jmo
Just speculation, but if I had to guess as to what a possible 'restructure' may look like for FRR, I think it may be something similar to what happened back in 2011.
As I recall, to settle the outstanding debt situation, it involved massive (and I mean massive!) equity dilution to current shareholders at the time. I believe shareholders ended up with around 10 cents on the dollar, or something similar to that.
However, the company survived, and shareholders got to see another day. I believe this was around the time also when they restructured their 'geographical bearings', so to speak, such as with the Cayman Islands registration.
Perhaps something similar is envisioned, and/or currently in the works right now, with maybe Hope/Outrider, and perhaps other creditors receiving equity interests in FRR (or other new entity), and maybe even a working interest percentage, or overriding royalties in future Taribani production.
Since I'm sure many have pretty much written this thing off already, ...even if current shareholders end up with a small fraction of their original holdings, if the company survives, (and commences trading again on an exchange), given the precarious situation the company has been in the last few years,... I would consider that to be a net-positive outcome.
just my opinion
One of my other shares (VAST) is going through a restructure, so that reminded me of FRR, because I understand a 'restructure' may be happening here as well.
I'm involved with numerous other AIM shares, but I'll check in on the board every now and then, just to see if there's anything new.
Otherwise, I'm in the same boat as others, waiting to hear of further developments, ...while my FRR shares are sitting in my account, showing 'no value'.
GLA.
jmo
Hmm, ...very interesting RNS.
While at first glance it seemed negative, ...after a careful reading it now looks to me like some big things are envisioned and/or currently in the works for Vast's highly prospective portfolio of assets.
I'm thinking of adding more.
GLA.
just my opinion
Also, keep in mind the overall exploration license covers a very large area.
Just speculation at this point, of course, but as large as the West Newton prospect is showing itself to be, ...there may actually be multiple structures on the block of similar magnitude.
Couple that with the favorable location (industry, infrastructure, etc.), ...and this is really shaping up to be some world-class acreage.
jmo
Corporate Presentation.
Looks encouraging, ...nevertheless, with an eye towards post-Merlin-1 operations and exploration, I wouldn't be surprised if DW has already shifted into 'Capital-Raising mode', if you know what I mean. lol.
jmo
These new shares will represent over 17% of the shares outstanding (3.671B/20.976B).
Therefore, ...might we see some TR-1's filed in relation to this fund raise?
Perhaps Vast is finally getting some institutional/cornerstone investors?
jmo