Member Info for LythamSlim8

Several red objects visible on that latest image of Mou-4.

Looks like activity of some kind.

P u $ $ y.

*****.

Looks primed for a decent move.

Further drilling of Mou-4 is ambiguous imho:

From the placing proposal:

'The net proceeds of the Placing will be used for...residual MOU-4 well costs'

and then:

'The Company intends to utilise the majority of the Net Placing Proceeds for MOU-4 well costs and rigless well testing of MOU-1 and MOU-3 and MOU-4.'

Perhaps some clarification on whether the 'costs' involve an outstanding invoice for work done, or indeed further drilling.

Wouldn't be at all surprised to see Adnoc in the data room:

https://gulfnews.com/uae/government/uae-president-receives-written-message-from-king-of-morocco-discussing-bilateral-ties-1.1691434392630

Can't beat a bit of Entente Cordiale.

https://www.linkedin.com/posts/uaeiic-ae-053847125_abu-dhabi-oil-giant-builds-internal-investment-activity-7095589625401868288-NBjG

“They are supercharged, with the investment team given the mandate to go out and look at investments,”

Fox-Davies in their recent coverage suggested a pre-test target price of 35p.

That was before the placing RNS, so more like 28p before any test results.

Then where..?

Chart looks very bullish.

Yes

Multiple catalysts for the SP.

A new electric vehicle registration every 60 seconds in the UK at present:

https://eandt.theiet.org/content/articles/2023/08/uk-s-new-car-market-surges-with-one-ev-being-registered-every-minute/

The results highlighted that LUCE commanded 4% of the charger market and planned to chase a larger share this year.

Muscling in on a rapidly growing market 💪

Perfect timing for the well to come online given the jump in TTF.

Would be very shrewd business to use the cashflow to drill the other wells.

Onshore drilling is a fraction of the cost v. offshore. Depth dependent of course, but work on around £100k per hundred metres of depth.

Each of the drills would add multiples but IMO Selva East (if it comes in) is the MONSTER

Think it comes in around 49BCF in total for the N, S & E Selva drills (Varying CoS).

Suspect that quantity of proven reserves would be worth in excess of $200m.

Great news - And from just a single well.

Sit back and let that FCF create some real shareholder value.

Very sorry to read this GRH.

Always enjoyed reading your posts.

Thank you for all the insights & wit.

Silverfoil, very sorry to read this news.

Yup.

Strange lad.

Surprised to read some of the postings of late.

Best ignored IMHO and instead, much like John Crichton-Stuart:

"I am willing to think well of my income in the distance."

GLA

James

Re: pipeline connection to the network.

Check out PXEN.

Recently paid SNAM to lay a 1000m underground pipeline in the Po Valley, Italy.

The (4inch I think) pipeline connected a gas well to the Italian grid. Came in at under €1m I believe. Not bad considering the bureaucracy/ labour costs.

So worst case around 5x that for 5km in the desert (most likely a FRACTION of given the locale)

But still,,, €5m is peanuts really IF necessary.

They'll get it all back and then some, anyway.

Low carbon hydrocarbons now back in vogue.

The gas is lit.

Yuuge if true.

yes. exactly this...

not millions.

******* billions.

Oh dear.