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When going into flow rate testing on a high-impact well such as this, I generally like to keep my expectations on the modest side. This way it avoids undue disappointment from results that are otherwise good, but may be viewed negatively by the market if expectations get too lofty.
Since this is a shortened lateral (compared to future wells in a development scenario), and also it's their first horizontal well (so they're still moving along the learning curve), my feeling right now is that if they are able to demonstrate a fairly stable flow rate after clean-up in the 800-1000 bopd range from this well, I'll be quite happy with those results, ...as I think that will go a very long way towards 'proving up' the commerciality of the acreage.
And of course, ...if it ends up being more, I'm fine with that too!
So fingers crossed for good results!
jmo
Very good operational performance at Tamboran's Maverick 1V well. May significantly increase the chances of future commercial Beetaloo development.
• Tamboran’s newly designed bit and bottomhole assembly delivered a 314 per cent faster rate of
penetration through the Moroak sandstone, the toughest interval to drill efficiently in the deeper
Beetaloo due to its abrasive and hard nature.
• The drilling results highlight how Tamboran’s team has successfully incorporated US technical
expertise and shale drilling experience to increase drilling speed and efficiency. This is expected
to play a key role in reducing future drilling costs within the Beetaloo Basin.
https://hotcopper.com.au/threads/ann-ep-136-operational-update.7006174/
jmo
I just listened to the Q&A Presentation. I found it very interesting, informative, and helpful.
It sounds like a lot of work is being done to make this company into a success. After some very tough times, it looks like things are finally starting to come together now, and are really shifting into gear.
If things work out well, ...I think Vast has the opportunity to be one of the great turnaround stories in AIM history.
jmo
Very disappointing result for sure. I was hoping they would at least make a discovery on the lower end of the estimated range. I still think it was worth a 'punt' at such low market valuations. But that's how it goes with oil and gas exploration.
(For anyone still interested in the Australian natural gas sector over the longer-term, ...keep an eye on the Beetaloo Basin players. The macro-fundamentals of the market are still in place.)
GLA with your future investments.
just my opinion
Looks like the flare is still going strong at the Tamboran site : )
https://apps.sentinel-hub.com/eo-browser/?zoom=18&lat=-16.39903&lng=134.70234&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2Fbd86bcc0-f318-402b-a145-015f85b9427e&datasetId=S2L2A&fromTime=2022-05-28T00%3A00%3A00.000Z&toTime=2022-05-28T23%3A59%3A59.999Z&layerId=6-SWIR
jmo
Ultimately, what matters most are results. No guarantees, of course, so we'll just have to see what happens.
Nevertheless, whoever has been selling down the consortium members recently to these levels, for whatever reason, has given me the opportunity to build a position on the cheap.
So I guess all I could really say at this point is, ...Thanks for the cheap shares! (I hope! lol)
jmo
Fingers crossed for good results!
Given the very high resource potential, robust pricing environment, and the nearby regional activity and infrastructure in place, ...I think that even a discovery on the lower end of the estimated range should have a profound impact on the low market cap participants in this drill. And if it's more than that, ...great! (I have ASX listed GLV and PRM in my portfolio).
GLA!
jmo
In the big picture of things, ...I think this Atlas situation will basically turn out to be a blip.
What really matters is Vast moving forward towards increased production, revenues, and profits, ...and it looks to me like that's the direction they're headed.
jmo
Just speculation on my part, and I hope I'm wrong about this, but I think it's possibly, and perhaps even likely, that the SWIFT confirmation came a bit after the Atlas conversion notice. Otherwise, if the SWIFT notice came before, I would think VAST would just say so, as it would basically be a no-brainer at that point, imv.
Instead, Vast indicates that they're "..taking legal advice in relation to the circumstances..", which makes me a bit concerned.
Vast indicates that they "instructed" payment on the 13th. However, I'm wondering if it could be that the bonds are not considered officially paid off, until SWIFT confirms the funds transfer. In that respect, from a strictly technical 'letter of the law' standpoint, Atlas may be entitled to the shares under the terms of the conversion agreement. It appears things may have been in sort of gray-area, between instruction for payment, and confirmation thereof.
One of my concerns is the potential for Atlas to sue Vast for damages.
Again, just speculation on my part, and I hope this is not the case, but unfortunately I think it's a possibility.
Hopefully cooler heads will prevail, and some sort of an amicable settlement can be reached.
just my opinion
Rig preparing for departure (per ASX announcements).
Things will be moving quickly with this one, if things stay on track, ...and major milestones with the drilling could be reached fairly soon.
Looking forward to the spudding of the VERY High-Impact Sasanof-1 well.
GLA!
jmo
Volume has been very strong.
And just look at that one large print from today for 121 million. At .83p, that's more than 3 times the .27p level.
It looks like there's people out there that are very interested in buying Vast shares. Something must be brewing, imv.
jmo
It would be good if AP could give an update as to whether the new pieces of equipment have arrived onsite.
If I recall correctly from a recent interview, ...one was supposed to arrive last week, and the other was supposed to arrive this week.
jmo