Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Thanks for sharing that. Now I think all doubts about commerciality of the Falcon can be removed as mentioned this is going into production by end of the month.
Once 0.15p warrants are gone this will start to reflect success at Falcon 1 and msmn will sit comfortably with $1m in bank. Looking forward to flow rates to see additional cash flow each month.
All getting slowly ready for a big Amadeus project.
Was expecting wire logging results tomorrow which will be one week since TD last week. Judging by previous rns it took them around 10-11 days for wire logging and they were working on 2 Stanley wells (various zones) at the same time.
As per this morning rns they encountered several potential production zones and it looks like wire logging will take more time. Which is perfectly fine. Imo late next week for results of wire logging and then a week after for flow test results.
slide 10 onwards:
https://centralpetroleum.com.au/wp-content/uploads/2020/10/20201012-Latest-Company-Presentation-Primed-for-Growth.pdf
155 has the same pre-salt reservoir as Dukas (page 14).
Amadeus developments will have effect on share price already next year, gas and helium having brighter future than only staying with oil. Hence managers decided to increase their holding to almost 9 or 10%. And any long term holders will just take advantage of any deep to by more shares for 'Amadeus show'.
soulac,
and the beauty is that Central Petroleum says that 115 has even more potential than license 112 with Dukas on it. And that 115 literally is hugging our 155A license. Our license is just in the middle of 115. Seismics will be completed H1 21. That is when probably our JV partner Georgina will try again with IPO. after H122 Dukas well, Santos will drill well on 115, yep next to our 155.
And guess who applied for an exploration license for area around our 145? Yes, that is right, Central Petroleum and Santos together. Their application is awaiting approval.
AIC with Rumble Resources is drilling currently (started 22nd August) just next to this newly acquired license - 7 drills 350-450m deep:
https://www.aicmines.com.au/projects/lamil-project-aic-earning-up-to-65/
The highly mineralised Paterson Province remains largely underexplored due its remoteness and relatively deep Permian and recent cover. A recent breakthrough, based on a detailed airborne magnetic survey completed by Rumble Resources (ASX:RTR)(“Rumble”) in March 2019, indicates that the depth of cover to the main targets in the Lamil Project area is less than 100m. This estimate was independently confirmed during AIC’s due diligence review. The area has essentially been ignored due to the previous perception of ubiquitous deep (>400m) cover.
I see, ok. I was going more towards the fact that Falcon will be much lower and pressure expected is higher than with Stanley wells. This casing would be then just a safety and standard practice when drilling higher pressured zones...
Well done to all who predicted flow rates end of this week.
Assuming they were just recently at around 1300 feet, would it not be next week on Tuesday a bit too early based on details in this rns?
And is that activity '9 5/8 inch casing has been run and cemented at 1,600 feet.' a standard work process for all Baja wells. Meaning they do that also for Stanley wells? Or is it only for Falcon due to well being directionally drilled. Have no idea, as you can see. Thanks
Sometimes I throw an eye on the Central Petroleum ASX announcement to monitor developments in the basin:
https://centralpetroleum.com.au/investment/asx-announcements/
The last key news around Amadeus from Central P. was this one:
https://wcsecure.weblink.com.au/pdf/CTP/02268170.pdf
My take is end of next week. Any earlier would be a great surprise.
Stanley 4 had TVD 5000 feet and took approx. 10 days and Falcon 1 has TVD 7700 but true length will be even longer as it is directional depth. True that they might go faster through initial zones where Baja is not interested...
I think we would get first Stanley 1 flow rates confirmation.
Oil also holding nicely around $40.
Steadily msmn sp going up and warrants being excercised means more money into msmn pockets to drill another or two wells with no placing needed. If they manage to sell Welch, then game on. I think that will be the inflexion point for msmn strategy to become profitable.