just for your background information: in the days of LGO, Ritson paid a lot of money for a plane to fly over the area.
All of that to say that we have data outside the acreage for which we have licences, but that doesn't mean that CERP would have communicated they have targets in sight that are not in the acreage for which they hold licences. That would never have passed the usual scrutiny prior to releasing an RNS, not to mention would be unlawful.
There is no need to try and come up with additional reasons to discredit this company to see the SP decline. Quite frankly the various BOD have done a sterling job at messing things up, not if you punters could have done any better.
Druid,
I am sitting on a massive paper loss, like so many here.
However, not sure what the point of your post is wrt GY670. It's pointless, because:
1. Everyone knows that all wells suffer from decline rates.
2. Everyone knows that the financials for Goudron are not favourable enough to invest in it. Usually other fields, like SWP, offer far better potential economic returns
3. The company has tried to make EOR work in Goudron on a shoe-string, with Water flooding and CO2 injection trials. No luck as far as we are aware.
Goudron has always been a "means to an end", and never an end in it self due to the above mentioned economics.
What GY does show is that there is potential for good producing wells in T&T, but you need to (a) find it and (b) plan for EOR at (almost) the same time as you plan for the production drill.
it's a fantastic movie. It's simple: great movies attract a crowd and this one is simply amazing. Thoroughly enjoyed it.
the Water flood program in Goudron: is this still ongoing Y/N?
SWP: what part of this acreage has the company explored (other than Saffron). There were significantly more targets identified by CERP at the time
Typical AIM nonsense today. The project has been derisked., they move to phase 2. What's not to like?
Answer: not enough clarity about the next steps. And if no clarity they could at least have issued a timeline by when they will announce that. Bit clumsy, but other than they are moving to phase 2. Very exciting!
SC: "I don’t mind some dilution at the asset or share level to pay Stena (to conserve cash) and fund growth (to create cash)."
That's the perfect line for investors to wait until after S2 and after the inevitable equity raise after it. There is a good chance this knowledge will only lead to the SP to slide further to new lows.
SC: "...., is the S2 result is OK and delays are being caused because of funding negotiations for S3+, and possibly a mini-CPR is awaited."
Aren't you contradicting yourself. Sounds like a massive risk here is that any increase in SP following a positive/ok result from S2 is likely going to be offset by the dilution cause by a likely equity raise to fund S3 and onward
you really seem to be expecting a lot from this. What is there to expect apart from what we have seen al those years? A rise, followed by yet another equity raise. A next drill, too slow after S2 to be truly accretive production wise. (by the time S3 is drilled, S2 will have suffered such strong decline rates, that by the time S3 is here we will be back to square 1). Even if they did have the cash for S3 (which they don't) T&T authorities will d**k around for so long that by the time the can start S3, S2 will be producing peanuts or will need water flow/CO2 injection. So it will be water paddling at best. Lots of noise to stand stil and never ending equity raises in between. Only hope is to get acquired by a company with an astute BOD.