Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Getting the Schlumberger deal cross the line will be a major transformation point for the company and the share price going forward.
In addition Near getting the gas online at the set Gas price of $5.24/mcf, with local gas purchaser Bago is investing in the pipeline is also a major development and source of regular income.
Net gas revenue at current flow rate will be $120,000 per month, $1.44m year one for the gas alone hopefully. More importantly investment cost is in, concept proven and will be a basd to build. Georgia has a relatively robust gas market.
In addition will be the oil production from West Rustavi and the Schlumberger current production, circa 500bopd into the coffers.
Exciting times ahead
A 100% increase puts the cap at £24m 6p
A 200% increase puts the cap at £36m 9p
The gas production from West Rustavi and deal coning up is huge for Block and increases the licence area the company will be operating from 82km2 to 2622km2. Most importantly it takes the 2P reserves from 3m boe to 67m boe, with 2P contingent at 210m boe and immediate combined Oil and Gas production in early 2021 to around 500 boepd.
There is a huge amount of capital investment by Schlumberger into the 2,622km2 to the tune of $133m which go towards the favourable terms they will gain going forward.
An immediate combined 500boepd when conditions facilitate is a very solid income base for the company to exploit the licence area going forward.
This will not be £12m much longer as the company over the next few weeks early Jan become operationally active once again. Gas and oil production from West Rustavi, coupled with the Schlumberger immediate production. The current price is hibernation, the market will take this higher over the next few weeks.
Should be an RNS on the gas line any day now to include the gathering line between the EPF and WR-38Z is due to be completed by the end of this week.
In the interview a week or so ago said all very much on track and gas sales Q4.
It looks like it is on on embargo as it has market sensitive news, RNS has to come first if it contains market sensitive info. Usually interviews come out asap, next week could be a biggie.
The tweet is out below
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The @MarketMusing boys were delighted to speak to Richard Conroy of @ConroyGoldplc #Gold on the podcast
We hope to have the podcast approved and released very soon.
Seen somewhere that a stock box interview has been done but they need the go ahead first from Conroy i.e. material info RNS first.
That could mean they discuss the JV programme under embargo until the RNS comes out next week.
Lets see, jv news and we quickly move up.
In the last two company releases by AAZ the have this at the bottom of their official RNS in the notes section. They use strong wording ‘it will enter into a JV’
“It has recently announced that it will enter into a joint venture with Conroy Gold and Natural resources PLC to explore and develop various gold properties in The Republic of Ireland and Northern Ireland.”