Member Info for miker444

So 84.8 bopd from 2000 bfpd and we are going to increase to 6500 bfpd which is an increased multiple of 3.25 (325%).
Are we saying that should get us 275 bopd when target was 150 bopd.
Either way looks like target of 150 barrels is easily do able once all water storage separation tanks and pumps in place.
More importantly CAV should be impressed and this may be enough to push us in to a participation deal with further wells and the 33 bcf in Selo.
Solid RNS with update of where we are and what the immediate plans are ( 6500 bfpd)
atb

RBD have 50% interest in all production from Cali, so for every 2 barrels of oil produced 1 barrel net to us. What S&S decide to do with the income is up to them but it was stated it would fund other wells as a lot of running room in the license areas.
atb

I think that (1.45) must be a misprint. Very happy with all that is to come but have a gut feeling that whilst resolvable Cali might be experiencing a bit of a hold up. Other PI's have suggested that the production figures from Cali are being held back for WN results / update, can't see that as Steve & Sachin normally get good news out once known. It would also enhance and underpin sp for the next leg up on further news creating a higher base each time.
We were producing 480 bopd from VG - 4 alone with the hope of increasing further before it was choked back due to gas volumes needing to be reduced / tied in to existing pipeline infrastructure.
It is my opinion that any issues will be sorted and whilst currently producing S&S will only release 'stable' Cali production volumes as a total figure for maximum effect .
It's all good and I agree with lucky that we should hit 400 bopd net to RBD once all producing at optimum flow rates ( and then some) :¬)

Timeframe not a problem for me not going anywhere, I can wait :¬)

Agree, for Steve & Sachin to state that Parta can be as big as WN then there has to be an expectancy to get drills into double figures, eventually. It was a bold statement to make but said with a knowing confidence.

Either way news must be due soon.

Good find Badger, talks of early cashflow always good, infrastructure well established, just wonder how many wells the running room will allow, also great that additional multiple pay zones have been discovered de-risking (to an extent) further drills.

Badger, many thanks, great post, I thought ADX increased % would reduce our holding in ratio to it, incorrectly, but happy to be wrong as it is an even bigger holding!
Considering how potentially large WN will be and Parta as well with 'running room' then even a 1% increase in holding will pay back multiples of the initial cost price. Shrewd moves ( assuming success :¬) )
atb

Nice % increase and if we take up the extra 1.6m we will gain even more market share as ADX only have options for further 600k or so. I calculate we will hold nearly 47% but happy to be corrected.
It does show how cash rich RBD are with no dilution or placing needed to increase our stake. Be interesting to know what % increase we have managed for Rathlin as well. Steve & Sachin a class act.

Seeing as we have known the content of that tweet and also yesterdays tweet for a good few weeks now I would agree its as though ADL are reminding people of the 4 well workover programme for a reason, that reason being they are about to announce the next stage results.
It does appear the results may be promising or at least on track as why remind shareholders to then follow it up with bad news. Wishful thinking maybe but its what we would all do prior to good news, so here's hoping.
atb

Is the total target for all the workovers. I would hope if that is met then we should be sitting mid 0.20's. If we can push past the 200 bopd figure then even better sp and it would tee us up for a participation announcement with CAV and if that happens then 0.5 should be on the horizon.

Simon fair do's, just making the point if 189 bcf / £974m is now being relegated to the back benches in favour of oil just how much volume will the CPR come up with.
Would suggest more than 31.3m barrels ¬)

Just re-watched the BBC news bulletin of a month or so ago and it is easy to forget the sheer size (potentially) that WN can be. The bulletin only talks of the 189 bcf of gas (31.3m barrels equivalent) but it still is given a £947m price tag, pounds sterling not dollars.
I accept that is not profit but 'retail/turnover value' call it what you will but that's for just 31.3m barrels.
If we are looking at 100m+ barrels the price tag associated will be several billion. There is even talk, albeit loosely of anything up to 300m barrels and giving Wytch Farm a run for their money.
What's a few weeks / couple of months to wait for the EWT results.
atb

Had hoped to see an rns this week but looking less likely as we are now into Thursday, although I note the last update rns was released at 9 am not 7 am , so still time yet..... (fingers crossed)
atb

H Greg, all things considered a decent buy just shown up which has moved sp straightaway hopefully bought in anticipation of such news you mention being anytime soon
atb

Hoping that the slight delay in news is due to cleaning up the well and establishing a true final flow rate / increase to avoid the misinterpretation of the 4.5 bopd extracted in the cleaning up fluids last time.
Be nice to see another 30 bopd from the next well to keep CAV's interest which imo is what the bigger picture is all about and the best chance (in addition to small cashflow from workovers) to get sp underpinned towards 0.45p ish.
Not long now either way.

Sachin states once IM1 & 1M2 wells de-risked it will be like 'shooting fish in a barrel' for the running room of other wells, that's a bold and confident statement, they are looking at the 49.9 bcf stated in past rns's, I think if 20 bcf is being quoted at this stage then that figure will be exceeded and then some.

instead of 6.1 bcf contingent resources & 12.7 bcf prospective resources, this has far exceeded expectations. Remember this was always a gas play and the upside being the 'running room' of many other wells.
We can wait for the oil, lets get the gas tied in to the existing nearby infrastructure.
Excellent news.

Just out of boredom and while we are waiting for news Companies House notification that Eagle Gas have issued a 2nd filing of accounts (03rd Sept) What I don't understand is they are identical to the accounts which were already submitted and made up until May 2020 next year?
Still has Paul Haywood Simon Gorringe and Alan Soulsby down as directors, not relevant but why issue it again.
Anyway back to what is relevant I hope that Indo work over news is next week then.
atb

Just to add I have written off Colter (from my thoughts) as it will imo be a few years down the line, may come off eventually but certainly I for one will not be factoring it in to any sp 'recovery'.
atb