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I would have been perfectly happy with a ramp up to 90 mmcf/d at current pricing structure however now we are stuck at 48 with small ramp to 60 planned - this is not how it was supposed to be!!
I say ramp up to 90 mmcf/d - then once Rio is confirmed put a lateral across border from Casc C into new territory- Hope find a shed load more gas and negotiate a separate contract at that point
I believe that if gas is found on next door block even if drilled from Ortoire then the Ortoire pricing structure would not be used
I still have an overly large core position here but have felt cheesed off enough to cash a few and throw into AXL
GLA
That was a bit of a shocker - just seemed to me that PB was holding back and could not tell us why there would be no move to 90 mmcf/d for the next few months
I am convinced that TXP are negotiating a new gas contract price for anything above 60 mmcf/d
If that can be pulled off then we really are on the way - we seem stalled on the start line at the moment
I cannot also believe that we bought 2nd hand compressors and they supposedly got knocked about in transit - f….ing amateurs
Anyhow that’s my thoughts - just a bit blaaaah
Pretty much a beginning of transformational period for us now - 100’s of messages on Discord this am but my take is that barring tweaks and some operating issues Casc is producing like it should
Not blow the doors off yet but this will come
Once separator issue is fixed then a steady ramp to 90 mmcf/d - don’t like flaring off our profit !!
Hoping to hear at tomorrows webinar about dates for Casc C drills and the ramp up to the totally transformational 200 mmcf/d
Over at Coho the well is sound and needs a 2nd work over before eoy - then onto Royston???
Id say a B+
Bit of an odd trading day yesterday- was lucky to have taken a punt a few weeks ago
I guess all the rise for the great RNS came the day before with leaked news and yesterday was day traders taking their profits
I believe that investors will be reflecting over the weekend and pile in next week in anticipation of drill no 2 and flow testing
running concurrent
What are people’s thoughts on flow - am I right in reading max output from previous time was iro 17500 bopd from 7 wells
Would a flow rate of 2000 bopd or 400 net to Corcel be a possible figure to work with ??
GLA
Looks like a crumb of comfort across on the Discord - word has it that PB et al are potentially negotiating a higher price for extra gas above the 60 mmcf/d currently being produced
Would be a huge win if this is the case and the extra 30 mmcf/d we know Casc can produce can be sold at an enhanced price - I’m expecting the unexpected 🙂
Looks like I shall be staying for a while yet 🙂
40000 boe/d through current infrastructure is huge and doable over next 18 months
This is without any exploration hits from the multi targets
Sounds like we should be able to drill into Rio C acreage from Casc with no additional permits required to see if and how far the Casc monster spreads across the border
Would be nice to own 0.25% of a FTSE 250 in a few years time
Nice steady rerate from here should be on the cards
GLA
@tc I’m lost for words — time for a huge spiced rum and coke I think
There has been some talk of further funding required but that is a crazy thought and indeed it has been practically confirmed over on Discord that TXP do not need any funding
We are now transforming into a huge gas production company and that cash should be rolling in Does Canada not believe we are producing iro 11000 bowls ?
Next week is another week and we have the hugely important TXP presentation on Tuesday
GLA
Hopeful that drilling will confirm high grade Ti and a JV with a major will take care of any future placings A 70/30 carry on all costs would do just fine
Exciting times - oh maybe find that elusive copper this time also 🙂
@ Lv - I agree with most of what you say - it’s been a disaster of a share these last 2 years but I disagree with “all positive upside is factored in “. - it is most definitely not
Let’s get Casc on line and then we can look forward to the drill bit whirring away not having to worry about funding
Been a crap day - topped up but looks like I paid highest price of the day 74p and the dreaded flea beetle has destroyed my first drilled field of osr
Come on PB - put us all out of our misery with that blow the doors off RNS tomorrow
GLA