Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
From ' jpl ' ~ private investor comments on HC bb . California. All makes good sense, a good strategy by SGC : a. My understanding on the hook up for gas production is that they are awaiting one final approval but that was about a week ago. b. I understand further that Sacgasco's priority is to build up cash flow so Alvares will be tested before Dempsey is fracked. Application to start integrity test at Alvares was submitted in April. Hopefully we will see some activity there in the third quarter. If the well bore stands up to the competency testing (Sacgasco is free carried for that) the JV will go back in identify zones of interest via new casing logs and perforate the newly identified zones through the existing casing, no need to sidetrack as one partner intimated some time ago. It won't be very expensive at all. c. Just be nice if some of this was in a media release. See gas in US was above US$3.00 a mmbtu last week.
Many thanks bigspike, will be looking to buy after the market opens. Re : Dempsey / SGC the below post from Mayochem re : SGC / Dempsey on HC : This is undoubtedly a sizeable resource, the question is to get it to the surface in the most cost effective manner. SGC are working towards that understanding whilst trying to preserve capital and maximise self funding. Bigger companies would fast track development by throwing money at it but this is not an option available to SGC. Dempsey was the first of many and gave commercial flow without stimulation that was very encouraging. Gary needs to continue to sell the longer term plan, there are still many investors out there with unrealistic expectations requiring instant gratification. We need to cut a little slack, let the longer term plan play out, but while that happens others may also find SGC attractive. AIMO DYOR
Bigspike, many thanks. I've watched several of RBD's interviews. Impressive. A very good junior O & G company. I attach a link to one of the interviews plus noted Malcy's observation. Well pleased they've taken a position in California. Malcys' blog : 14th June Reabold Resources : Reabold has acquired Gaelic Resources for just over £3m in shares which gives the vendors around 13% of the company. The prize is that the company will pay for five wells in California at a cost of $7m to earn 50% of the leases which looks pretty attractive given the already de-risked nature of the prospects. With low drilling costs, and as the company says ‘a fast path to monetisation’, this looks like another smart deal from RBD, history tells us that payback is usually fast here and cash flow from early production can go towards future drilling programmes. LSE interview : https://www.youtube.com/watch?v=RoMMRQTzNr8
Bigspike. RBD . Reabold Resources ? Operating currently in Romania and the U.K. ?
https://twitter.com/EddieMorraNZT/status/1005893336409001984?s=19
WL, agree to an extent but.. as Dempsey is still very much � work in progress � TK quite rightly advising EME have Indonesia and China. GJ and TK need to provide an update / timetable on their intent to frack Dempsey after the permit is approved ~ 7 weeks to date.
The Dempsey info. is an extract from Xstate Resources Corporate Update 30th May 2018 : https://hotcopper.com.au/threads/ann-2018-annual-general-meeting-presentation.4216615/?post_id=33370105#.WxSemkgvzIV
https://hotcopper.com.au/threads/an...tation.4216615/?post_id=33370105#.WxPsbUgvxPY Dempsey � Dempsey 1-15 well being connected to gas sales pipeline; expected to add ~1,200 mcf/d gross to joint venture production rates. � Seven idle wells identified as work over / production hookup targets with immediate production upside. � According to the operator �these wells are projected to add very material natural gas production and revenues�. Alvares � Alvares -1 was drilled in 1982 on a large anticline and encountered over 1,500m of gas shows and flowed gas to surface. � Plan is to assess integrity of the well bore to either: � Log through casing and perforate and test zones of interest for natural gas, or � drill a side-track to fully appraise this old gas discovery
I note SGC employing ‘ Six Degree Investor Relations ‘ in Australia, offices in Sydney and Perth. Email : info@sdir.com.au. Phone : 00 61 8 9322 8288. ( Perth ).
gary.jefferey@sacgasco.com
Typo : info@sacgasco.com
Gaza, could you also please raise the points coop noted in his message in your e mail to Gary Jeffrey�s. ? Then kindly post his reply on this board. ? Info@sacgasco.com. Many thanks.
WST permit for Dempsey went in on 11 Apr. Not yet approved. CRC permit went in for one of their Kern wells on 27 Mar which was approved on 18 May so there is a lag of up to 2 months at present it seems.
http://www.reuters.com/article/us-argentina-energy-vaca-muerta-idUSKBN17S2Q5 "Roughly the size of Belgium, Vaca Muerta is one of the world's largest shale gas reserves but has remained mostly undeveloped due to high production costs and a lack of labor flexibility. Macri has sought to attract investment since taking office in late 2015, and earlier this year sealed a deal with unions and oil companies including Chevron Corp and Royal Dutch Shell Plc to guarantee investments in exchange for greater labor flexibility and wellhead price subsidies."
www. canny investors waiting to near close of play for any fall in price as per the two 100 K BUYS.
I attended Andrew Knotts� presentation which was certainly impressive. In a nutshell : the 7E deal I suggest looks to be highly lucrative, Niger sees the compelling, drilling campaign now well underway.. The SAVP team have played, also IMHO, a blinder in both countries. Malcy was there in fine good form ; we should see a detailed write up in his blog today. Overall, 100. %. Please DYOR.
I attended Andrew Knotts� presentation which was certainly impressive. In a nutshell : the 7E deal I suggest looks to be highly lucrative, Niger sees the compelling, drilling campaign now well underway.. The SAVP team have played, IMHO, a blinder in both countries. Malcy was there in fine good form ; we should see a detailed write up in his blog today. Overall, 100. %. n.b : many thanks to Turner Pope for arranging, an excellent venue and hospitality.
Gazza, my reading of this is they’re in unknown territory due to the positive complexity of all the zones, Where to frack, which zones will flow naturally ? Hence, the approach now being taken.
Answered own query. Drilling & production 21 August 2017 Sacgasco Limited: four gas zones confirmed in Dempsey Well Published by David Bizley, Editor Oilfield Technology, Monday, 21 August 2017 11:00 Wireline and mud logs confirm 4 zones of interpreted gas saturated sandstones between 1000 and 1560 m. Net pay estimates range from 30 - 50 ft in undrained fault block; expectations for enough future gas production to cover well costs. Casing currently being cemented in preparation for drilling ahead into the remaining 5-plus interpreted highly prospective sandstone reservoirs. Sacramento Basin-focused natural gas developer and producer, Sacgasco Limited has advised that the field appraisal drilling component of the Company�s Dempsey 1-15 well in the Sacramento Basin in California has been successfully completed. Dempsey 1-15 has reached the planned intermediate casing point and has been wireline logged. The wireline and mud logs have confimed 4 zones of interpreted gas saturated sandstones at field production levels (depths from approximately 1000 m (3300 ft) to 1560 m (5100 ft). Based on log correlations and 3D seismic these gas filled sands have not been previously produced in this fault block of the field. The net gas pay estimate from the logs ranges from 30 - 50 ft depending on petrophysical-parameter cut-off values used. These zones will now be protected behind casing for future testing and production. As a reference point, the database on the Californian Regulator�s (DOGGR) website shows that Sacgasco�s and other offset production wells have produced natural gas volumes that have exceeeded 1 Bcf of pipeline quality natural gas from individual equivalent zones. As planned, 9 5/8 in. casing has been run to a depth of approximately 1760 m (5800 ft), and is in the process of being cemented in place in preparation for drilling ahead into more than 5 remaining prospective underlying sandstone reservoir targets.
I believe we are ! I'm interested to see this comment from Tom, guess it refers to the other 3 field zones ? '' Other intervals may be perforated at a future date, should piping configurations allow. Options for testing of various other intervals in the Dempsey Well bore are being maintained.''