Member Info for maqsood7

small contribution to cash flow gordon?? why??

company is saying: from C-73.
During an extended production test in 2012 it had a peak production rate of 1MMscfd and 23.5 bbls of condensate.

C-77
The key field results from Cambay-77H flowback and production testing are encouraging. The sustained initial 24 hour rate during flowback was 2.03MMscfe/d, comprising 55% light oil/condensate with concurrent operations water production of 1,867bbls/d. Flowing wellhead pressure was 1,261 psig.

even if we are producing few hundred barrels a day,still it will bring good amount of cash in treasury,because of
1) higher oil and gas prices!!
2) cheaper extraction costs!!

all coming together, perfect storm with production starting here.atb,dyor.

so we already got two wells which had previously produced decent amount in place!!
and company is taking steps to start production!!
will that take long??? i dont think soooooooooooo.
the movement in SP suggests some rumours around already.
hold for gold!!
this will be the multibagger soooooon.
dyor.

from 17th sept RNS:
"the Company is advancing the various steps needed to recommence production from two wells (C-73 and C-77H)"

history of these two wells:
Cambay-73 was originally drilled in 2008 with a single stage fracture stimulation and was subsequently shut in. During an extended production test in 2012 it had a peak production rate of 1MMscfd and 23.5 bbls of condensate.

A gas-sales agreement has been entered into to sell Cambay-73 gas. In addition to the cash flow from the sale of gas and condensate, Cambay-73 will provide critical flow data to further assess the deliverability of the Eocene Reservoirs.

In 2014, Oilex successfully completed Cambay-77H, achieving significant progress in delivering all the proof of concept.

The key field results from Cambay-77H flowback and production testing are encouraging. The sustained initial 24 hour rate during flowback was 2.03MMscfe/d, comprising 55% light oil/condensate with concurrent operations water production of 1,867bbls/d. Flowing wellhead pressure was 1,261 psig.

The results clearly indicate recovery of significant volumes of oil and gas can readily be achieved. Importantly, Cambay-77H and the model, confirm that the tight Eocene formation in the Cambay Field is amenable to this form of fracture treatment, leading to the conclusion that the Y Zone can be commercially developed with this technology.

3weeks from news saying TD reached,and 2weeks from the video posted saying we are doing flow test and last day of the month of September.
Are we getting two news together???

If we break 0.30 then 0.40-0.50 next target.

https://www.**********.co.uk/articles/traders-cafe-with-zak-mir-bulletin-board-heroes-september-28-750a58f/

AJamesW. yes we got cash to run up to 15months, and also with higher oil prices we are making profit from our current production and that will increase cash in bank.imo.

Maybe before otc opening??
Or tomorrow morning.
Some good numbers will start moving this north......

Just look at the charts,they are very encouraging!!
Do not listen to anyone who might be another side of fence and want you to sell so he can buy cheaper again.
Btw,HUR had a news which have triggered the drop which was expected.
And we are waiting for the news which will make the SP go crazy!
Let them announce the production have started.

We are moving with technicals now.
Charts suggests 0.35p arriving.
Golden cross on daily recently.
If the news arrives here saying production started then this will be going much more higher than 0.35p!!!
Hold tight,good time ahead.dyor.

that was a no brainer crawshaw, company is holding massive amount of cash!! and no debt!!!
well done mate.

yes crawshaw,sold hur at 3p.
jkx sold half around 40p and holding remaining.

bed wetters are out and we are still around 0.25p!
shares are in sticky hands now,who are waiting to sell them much higher!
onwards and upwards with news here.
0.35p!!!!

ask is ready to go above 0.25p.

maybe they bought around 0.20 and happy with their 10-15%,ignoring the potential here??!!

definitely something afoot.
really difficult to buy.
expected news could arrive anytime........
hold for gold.

got anything to do with this?? from old RNS.

"In anticipation of the Government of India's (GoI) ratification of the Acquisition, the Company is advancing the various steps needed to recommence production from two wells (C-73 and C-77H); a further update will follow soon."

OUR CASH POSITION WILL BE BETTER THAN LAST QUARTER!! WHY??
1) oil is trading much higher than last quarter!!!
2)we are holding stock of oil from last quarter!!!(which might have been sold in current quarter)

LAUGHABLE comment of the day: lol

Cash position is most important. If it’s down it shows production is not profit making. That’s curtains.
The results from the latest well won’t be known until they have 3 months production to show a decent average.

spread is getting tighter.
0.2435 to buy and 0.2401 to sell.

this is clearly moving with technical right now.
breakout was expected and it is doing so.
this can go upto 0.35p without news and with news, can go much much higher!