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It seems an interesting indirect exchange of shares between Baja (16-13=3%) and that company (12%) who operated drilling and completion activities on Falcon 1. Mosman feels confident that no exploration skills are needed and only need someone who will perform workovers of 1-2 old wells. Fingers crossed, economics of those worked over wells will be similar to the adjacent Falcon and Stanley wells.
And again management showing excitement over drill results 'highly encouraging Falcon 1 drill result'. Hopefully that translates into at least 100 boepd.
gla
145 is more advanced in terms of different approvals as it has Exploration Permit granted. It is just a matter of COVID restrictions being lifted and additional ground inspections can be done.
License that surrounds 145 is under Santos and Central Petroleum which Exploration permit is under progress. Same as Mosman's 155 license. Which is JV currently and in hope Georgina Energy can help progressing it.
145: next news should be JV.
155: Any progress on their IPO would be great. As JV partner Georgina Energy has not enough funds except if they get listed.
Central Petroleum and Santos, between them they have a monopol in Amadeus basin. It is fascinating how Mosman managed to get 145 and 155.
I hope to see another interview but with John B after Falcon flows are announced and maybe he will clarify what they meant by progress of 145. It is too broad just to say 'progress'.
Last time John B said that the reason why JV doesnt progress is (as I understood) because potential partners cannot complete due diligence due to outstanding work on the ground.
I would question why Andy said that because of aboriginal reasons they cannot do much progress on 145, whereas John Barr in RNS believes that some of raised money will be used to progress 145. It seems John and Andy are not in alignment with 145. Anyway it doesnt matter much as hopefully covid peaks soon in Australia and restrictions are softened for all.
Next to our 145, Central and Santos can confidently plan lots of activity on the ground near term.
Yep, beside short term traders also people loading up for Amadeus as next to mosmans 145 license there will be lots of drilling activity within short to medium term by Central Petroleum and Santos:
https://wcsecure.weblink.com.au/pdf/CTP/02297418.pdf
That Amadeus will attract more businesses as pipeline will be constructed fairly soon and this brings even some fields that were not commercial, these will become commercial.
in my view highly likely it will move more than 10 or 15% within next two weeks.
A lot of placing share to be churned and it might just perfectly coincide with flow test news which AC expect within 2-3 weeks. I am taking his words with a pinch of salt when it comes to timeline. This is based on previous experience. I think it will be within 2 weeks at most or earlier. When did Andy got it right when it comes to predicting timeline :)
gla
I really hope for:
Falcon1 to provide around 100bopd net
Stanleys and Duff 100 net
Galaxie 100 net
That would mean every 2-3 months enough money to drill 1 well with 50% WI. Remember mid teens profitability and Brent oil at around $40-45.
SP will reflect that.
Falcon 1 looks like it is indeed above expectations.
https://tinyurl.com/y3pszysy
Yep, I read as plan was to test geology at Challenger with one well after Falcon proves oil bearing sands for Champion project. It seems Falcon results are as expected or even better.
https://bajaoil.com/challenger-project
Agree, Baja requested half a million USD as soon as they saw wireline logging results. And within short space of time to get sufficient funding took the hit.
As sweatysock mentioned drilling costs are still low and worth taking advantage of it.
is a growth story now (wells profitable in mid teens) and this has to be funded. And even if Galaxie is not drilled this year, not too bothered. As I feel reassured that Baja is doing anything possible for best outcome for all.