Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The Reserve/Resource report is scheduled to come out within the next few weeks.
Hopefully there's some nice increases that get the market's attention.
(Remember, Cascadura-Deep wasn't included in last year's report)
jmo
From the Jan. 24th (Webinar) RNS:
"Talitha #A testing - ...The well is a vertical test well and as such the Company is targeting an initial production rate of 50-80 barrels of oil per day ("bopd") from the SMD. Such a flow rate in a vertical configuration is expected to translate into materially higher flow rates in a horizontal configuration, which is how all production wells will be drilled.
Theta West #1 - anticipated flow rates will not be provided for Theta West #1, however these will be provided as testing operations occur."
https://www.lse.co.uk/rns/PANR/webinar-6t0yt28a4wsyfaq.html
jmo
"We now believe the Slope Fan extends east near the Dalton Highway giving us additional potential resource developable from gravel along the highway."
This is one of the first real hints we're getting on the potential areal extent of the Slope Fan System.
Even at it's closest pass, the Dalton Highway is approximately 7-8 miles or so from the Talitha #A location.
It'll be interesting to see the volumetric and recoverable estimates for this interval. It may be quite significant.
just my opinion
"..and by the time they’ve waited for the weather to improve to optimal conditions, it might almost be time to pack up and leave.."
Squirrel26, I never said anything about waiting for "optimal" weather conditions. I talked about perhaps waiting a bit for the extreme, over-the-top conditions they were experiencing to subside. That's all.
jmo
Scot,
I don't know exactly what's going on there at the wellsite, or the subsurface. I was going primarily on some of the things mentioned in the last RNS:
"Well bore conditions in the shallower sections above the primary objective, combined with the extremely cold weather, have prevented the Company from conducting wireline operations in the open hole...Operations at the well site have been impacted by the extremely cold temperatures (-55 degree Celsius wind chill), which have caused some disruption through a number of equipment failures and a reduced ability for personnel to work outside in such extreme conditions. Due to the well bore conditions and weather, the Company was unable to core or to collect open hole wire line logs,..".
Clearly the extreme, over-the-top weather conditions were an issue for the proper functioning of some of the equipment, and related operations.
So, ...The question I have is, ...why didn't they just wait a bit for those extreme, over-the-top conditions to subside?
As a long time shareholder (and therefore, part-owner of the company), I don't think that's an unreasonable question to ask. Nothing unreasonable about it at all.
jmo
Scot,
I've watched the company's presentations (which are excellent), and they make it clear how happy they were to have a wellbore in such great condition at Talitha, and were able to get such a robust, wonderful set of information on the reservoir intervals, with the wireline logs, VAS, and cores (over 400 cores!).
It would've been nice to get a similar data set with the current Theta West well, even if it took a little extra time and cost to do so. Not to mention a wellbore in excellent condition for further testing operations. That's all I'm saying.
The company is currently fully funded, and then some, for the primary work programs, and Jay had even suggest possibility getting in a second Alkaid well, which would be fine, but the important thing is to get THIS well right. They're indicating over 1100ft of pay from a 10-plus mile step out. That's extraordinary! ... and quite frankly I'm surprised the stock isn't flying up the charts right now, on what is shaping up to be, potentially, one of the largest discoveries in North American history.
Other things can be pushed back a bit, as far as I'm concerned. This Theta West well is the 'Big Kahuna' right now, and the focus should be on getting THIS well completed and tested in an optimal fashion.
GLA.
just my opinion
Good points SeaHawk.
We know that there's often tough weather conditions on the North Slope, ....but I'm wondering perhaps if they should've just 'stood down' for a period of time to allow the extreme weather conditions (cold/wind chill) to pass and moderate a bit, instead of trying to press on ahead and expecting equipment and tools to do things they weren't built or intended to do.
Things were going very well from an operational standpoint, so this is a bit of a 'check' in the negative column as far as I'm concerned. One of the very few negative 'checks' I've had for this company recently, ...as otherwise I think they've done almost everything right.
Even if it took a little extra time and money, perhaps they should've reduced their activity level during such extreme conditions, and then come back in a better position to fully and robustly complete the planned work programs.
just my opinion
I'm not sure what the specific issues are, or if it would be feasible, but if the casing turns out to be overly problematic, perhaps they can just kick off a sidetrack at some point above the area of obstruction, and then re-drill the well to TD.
Sure, it would be a bit extra time and money, ...but I think it would be worth it.
jmo
Credit newtofo, who flagged this up a couple of weeks ago, when he suggested that something 'wasn't quite right' with the way Tamboran's stock had been trading.
I tried to explain it away as being due to various market-related factors, however, when Tamboran came out with their Activities Report last week, the tone and the words used started to concern me. They seemed, imv, to be setting up the narrative of just having the T2/T3 wells viewed as a 'learning experience' of sorts.
It became clear to me that the results so far from these wells we're likely to be, at best, mediocre. And sure enough, that's pretty much what they were.
Hopefully further work programs later this year from the various Beetaloo players will be more successful.
GL.
just my opinion
Unfortunately, ...too much cloud cover on the latest satellite pass.
https://apps.sentinel-hub.com/eo-browser/?zoom=16&lat=-16.40101&lng=134.70319&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2F42924c6c-257a-4d04-9b8e-36387513a99c&datasetId=S2L1C&fromTime=2022-01-28T00%3A00%3A00.000Z&toTime=2022-01-28T23%3A59%3A59.999Z&layerId=1_TRUE_COLOR
jmo
"Woke Capital Won’t Save the Planet – But It Will Crash the Economy"
https://www.realclearenergy.org/articles/2022/01/25/woke_capital_wont_save_the_planet__but_it_will_crash_the_economy_813687.html
jmo
In this latest update, it seems to me like Tamboran is emphasizing how they will take the 'learnings' of the current EP161 well program, and apply it to their Maverick well expected later in the year.
"During the December 2021 quarter, we continued planning our 100 per cent operated drilling campaign in
permit EP 136. The program is incorporating data and learnings from the recent program and aims to
achieve reductions in drilling time and reduce costs...The well will be drilled with an advanced frac design and will target commercial flow rates..."
"Using data and learnings from the T2H and T3H wells
drilled during CY2021, the M1H well is expected to include more compact fracture stimulation stages aimed
at increasing well productivity."
Hmm, ...really?
So they'll look to use an advanced design, and try to increase well productivity over the current T2/T3 wells?
Perhaps this can be interpreted as they're not overly thrilled with the production profile seen so far with the currently testing wells?
Coupled with the fact that the latest satellite image seems to have regressed a bit from the prior one, imv, ...this has caused me to become more cautious in my expectations for the currently testing T2/T3 wells.
just my opinion
I've been largely out of this thing for a while now (fortunately), however, I've recently begun re-adding VAST to my portfolio.
I see strength continuing in many of the commodities markets. Plus, I think it's in the best interests of Vast and many of the relevant stakeholders to come to a mutually beneficial and amicable path forward to produce the significant resources present on Vast's acreage.
just my opinion
FOG, ...up over 50%, just since the beginning of January.
Nice way to start the year : )
I understand what newtofo is saying though, it would be nice to get some confirmation out of Tamboran, which has had very little trading and price movement lately.
I suspect part of it is that Falcon has been around for a very long time, and actively trades on 3 major global exchanges -London, Canada, and US. Whereas Tamboran is a relatively new publicly traded entity, basically just trading on the ASX.
In other words, I think most people don't even know Tamboran exists.
Although Mr. Bryan Sheffield, a well known player in the US Energy industry, certainly knows who they are, and his investment is a key endorsement for the potential of the Beetaloo, imv.
I wonder if some heavy-hitters have been accumulating Falcon recently?
GLA!
jmo