PYX Resources: Achieving volume and diversification milestones. Watch the video here.
Ufo, the seismic will hopefully provide additional targets and ones they could target whilst developing what's been discovered. It could also disprove its a simple fan based system (something I hadn't thought about really, but highlighted by the scir bod and quite correct). There is no answer to your question. You just have to wait and see.
Whether it's called an EPS or not, first gas is supposed to be September 2024. I'd of thought they'd have drilled additional wells by then exploring other lower targets as mentioned by JB (a long time ago!).
Exactly right crusty. If they need longer to negotiate terms or interpret seismic they'll kick the can. Hopefully they stick to the outlined plan and the government plays ball.
Which payment is that MD? The one you said they'd rns a few months back? They would have received the 5m on farmout completion. After paying cgt and the loan back they stated they had enough to cover G&A till May this year (minus another months interest on the loan). They then announced the cost reductions which fall shy of having enough till early next year. Its 35m carry.
As boom said, I expect they take a small loan with ARA.
If they are working on financing then they aren't expecting receivables anytime soon. When I spoke to them in December they said Nyuni was on hold. As I said back then, it's all about ruvuma for now and they (zubairs) wont want any dilution.
According to Fjones, they are working on financing for G&A. They will need some form of dilution to keep going to drill and then some after to make first gas Sept 2024. Should be minimal, but it will be interesting to see where the value goes.
Most of the first sentence is already achievable by other gas entities. Sentence two, whilst on the money, seems highly unlikely in the figures they gave at that presentation. The mains pipeline is only capable of 800 mscf/ps. (Not a small amount though!)
How much gas do you think they need outside of what Wentworth are capable of. That was quite a 'positive' post for want of a better description. EPS went out of the window and the hope is they are able to meet the timetable outlined and agreed by all parties. Just need the government to stick by theirs which is the unknown. License next month. Timelines on the ug pipeline. Plenty of room for slippage, although there would appear to be more focus as of late.
Why cant you see any hold up with the license, bg? They had to say they would pull out of the farmout a week before the election to get the government to sign it off. First gas isn't till 2024 and they said 18 months from drill to production giving them plenty of time. The gsa for kn1 took over a year before all of the psa review issues which you will probably refer to. Delays are more the norm in tanzania yet you suggest they are almost inconceivable.
I think it's pretty conclusive given the price action, Chris, but it matters not. All good news for the SP the last 2 days and in the same boat of not expecting any action so soon. That's why I said earlier that next week will be interesting to prove if this is sustained. I dont think it can be judged on 2 days of what could be classed as herd mentality. I'm happy either way so no deramping.