Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
It looks like the Iranians bombing in Kurdistan has given the Iraq and Kurdistan governments a jolt they needed. It looks like deals are being made and oil can soon flow. Not long to go. This could turn out to be a transformational month for both genel and gkp. Atb to all shareholders
I don’t know Adrianz the way it’s going we may be able to buy it even cheaper lol.
But seriously caspian has always been a tight ship so I doubt it’s anything to do with a leak. More likely looks like someone has had enough and wants out.
Message to Clive and Kuat - might be helpful to the share price if you guys could share some information on a timely basis
I see the range of prices as a good sign. If you want to buy a large number of shares then you have to pay a premium.
I’ve said it before and I will say it again in my opinion this is GGP in the making. Eileen didn’t put £195k in when it looked dead and buried to make £100k. This has a long way to go yet.
Https://www.basnews.com/en/babat/836018
What do people make of this ? The judge wrote this opinion in February 2013 but it’s posted in a newspaper today. Seems to me like someone is trying to tell Iraqi government that legally they can’t change the contracts.
Spot on Womo and one think that hasn’t been mentioned is that in addition to the upfront payment and $4m exploration funding will also pay Oriole JORC inferred resource payments capped at $20m. I really do believe this will be the next GGP.
ATB to all shareholders - this year will be our year
From rns:
· A maximum of 10 Resource payments are payable on the release of JORC Inferred Resource milestones (set at 1-million-ounce increments) in relation to Mbe;
· BCM will pay Oriole the First Resource Payment of US$1m on the release of a 1-million-ounce JORC-classified Resource in relation to Mbe;
· Additional resource payments of US$1m each will be due for each additional million ounces JORC-classified Resources reported at Mbe up to 5 million ounces, and will increase in value for the remaining five milestones to 10 million ounces;
· A maximum Cumulative Resource Payment of US$20m will be payable by BCM to Oriole on delivery of a 10-million-ounce JORC-classified Resource.
Looks like some misunderstood the wording in rns as relates to Senala gold. Oriole have clarified. See news tab.
In December, a renewal application for the Senala gold project in Senegal was submitted, Oriole noted. Managem Group took control of Senala in April 2023, after it acquired AGEM Senegal Exploration Suarl. AGEM has earned an initial 51% interest in the Senegal exploration licence.
Managem will not be completing any more work at the asset under an existing option agreement which runs to February 17, Oriole added.
"Accordingly, and subject to a final review of the accounts at that time, it is likely that Managem's resultant interest in the project will be approximately 60% (based on expenditure to date) under the option agreement. Managem retains the right to take its interest to the maximum of 70% under the option agreement by making a cash payment to Oriole directly which is equivalent to any shortfall in exploration expenditure (currently estimated to be USD2.3 million). The company is considering its next steps, post completion of the option agreement, which includes, but is not limited to, a joint-venture partnership with Managem or a sale of its interest in Senala," Oriole added.
Two new tenders on 27/12/2023
tender id: 261596168 - £9.8k - bus services for the transportation of the watch of the elemes north west field
tender id: 261596158 - £15k - for the purchase of wire goods SIP4 4x120 for the yuzhny elemes field
First one is self explanatory but does anyone know what the second tender is for?
googling "SIP-4" has turned up the following which seems to imply some sort of construction.
Application and installation of self-supporting insulated wire:
Power supply of end consumers (facility, living quarters), as well as lighting of various areas can be carried out using self-supporting insulated wires. One of the types of SIP, which is used for these purposes, is the SIP-4 wire in question. A feature of this type is the absence of a carrier zero core. This type of cable is used to equip branches from overhead power lines to transformer units. They can be used for the construction of lighting power grids or for laying on the walls of construction sites. The main technical properties of insulated electric wires provide the ability to operate in alternating current networks at 1000 Volts and 50 Hz.
https://mpka.com.ua/en/sip-4-provod-samonesushhij-izolirovanny/#:~:text=One%20of%20the%20types%20of,power%20lines%20to%20transformer%20units.
3 New tenders:
26/12/2023
261409027 - £51K - integrated household services at the Elemes Yuzhny field
25/12/2023
261245365 - £123K - services of vehicles for transport of reservoir water from Elemes North-West
261245370 - £7.7K - services of vehicles for transport of reservoir water from Elemes Yuzhny
In my opinion based purely on the tenders I think we will get some good news in next few weeks about well 142 (MJF) and well 805 (south yelemes).
ATB
Two new tenders dated 22/12/2023 for oil transportation showing on bicotender. What is interesting is that there already two tenders still active from 7/12/2023. The value of the tender seems to imply they have either split the tender into two or they have increased oil production by about 50%. Fingers crossed it is the latter.
7th December 2023
tender id: 259468891 for £2.1m for preparation, storage and oil transportation from elemes north west for 2024
tender id: 259468882 for £230K for preparation, storage and oil transportation from elemes yuzhny for 2024
22nd December 2023
tender id: 260965787 for £1.1m for oil transportation from elemes north west field
tender id: 260965779 for £123k for oil transportation from elemes yuzhny field
If you want to see the details go to bicotender and key in tender ids.
OneJohn, re block 8 that is how I read it.
As it stands casp lent Kuat the money to drill the wells. The company can’t announce any success/failure as it is not a beneficiary. The company is just owed the cost of drilling the wells unless block 8 completion takes place.
Only Casp can get itself into this ridiculous situation. Fingers crossed that if commercial that Kuat does not renege on the deal. He doesn’t seem the type but money does corrupt.
For me 10-20p is achievable by increasing the oil production in the shallow structures to 10k bopd. Fingers crossed on 142. If they can get it flowing then I think we are back in business. Healthy dividends in the future will flow if they can do this.
Sadly I think the management and staff are incompetent when it comes to the deep structures. They need to let someone either know how have a go and we will just have to accept that we have to give a chunky slice of the pie to see success. Success with even a 20% share is better then no success in 100%.
Just noticed a new bicotender dated 20/12
https://www.bicotender.ru/tender260529203.html#tenderHeader
For laboratory analysis of prepared oil for the content of organochlorine compound.
Could it be for Block 8 wells or the new 142 interval they are testing?
Rns: “ The interval tested at Well 142 did not prove commercial so testing is now underway at another interval at that well. Following completion of testing at Well 142 the rig will move to drill Well 155, the final shallow well under the existing work programme.”
Surely they will be able to say by end of next week if it’s commercial or not?
daisy do, one of my gripes with this share is that the goals of shareholders and directors are not aligned. there is no onus on the directors to increase the share price in fact they profit from a low share price. correct me if i’m wrong but directors took a salary sacrifice where part of their salary will be paid in shares based on the average price each month.
we are sitting on a **** tonne of black gold. our problem and it’s a big one is we have incompetent people. i have a feeling unless we are successful with 803 we will bring in a partner.
2024 is our year .
Most of the 2023 money has been spent on wells on block 8 but total silence. I continue to suspect this is because they have to wait until block 8 acquisition is complete.
Main positive for me is they have maintained 2000 bopd. Unfortunate on 142 but they are testing another intersection so could get news in January.
It looks like 2024 will be our year instead of 2023.
Not going to lie was hoping for a fire sale this morning so could buy more but it looks like everyone is waiting for someone else to sell 😂
Gwm121, seems like you’ve lost faith in the share and imiagree with you you should sell. This will serve 2 purposes, 1 you will get a price if 2.76p which is better than yesterday of 2.56 and more importantly for the rest of us we will see if there is someone mopping up the shares at this price.
Cheers and good luck
My take from the rns is BCM are paying Oriole an upfront signature payment but then BCM will spend another £xm on exploration.
Since BCM will be fronting the money for exploration then surely there is no need to spend the signature payment on exploration?
Another one joins the group - more the merrier
https://www.einnews.com/pr_news/675161807/kalegran-b-v-mol-group-joins-apikur
Rns: “ Gross average sales of c.28,800 bopd via trucking and pipeline between the date of our last market update, 25 September, and 11 December, reflecting: c.30,000 bopd in September, c.37,200 bopd in October, c.21,500 bopd in November and c.21,900 bopd between 1-11 December”
They’ve sold 21900 bopd in December already by the 11th which covers the monthly capes. Anything they are selling now until end of the month goes to profit.
Apart from November the other months sales have been pretty good.
There was a lot of talk in November about the pipeline opening , I wonder if they slowed down the sales expecting the pipe to open.
It’s a high risk share for sure but the upshot is huge if the pipeline opens.