Member Info for moneyhawk

Sorry, meant Bluebelly in the last post!

Hi Rosewall, yes good point on the previous JLP statement. Just a little wary of this with BMRs track record taken into account. But in the absence of any other information and JLP leading on it, have to assume that they've done enough to meet the first stage of the condition.

Maybe a good sign? Delays in reaching an agreement with the Zambians at this stage must mean that we are seeking something different to the original bmr plans. A bigger plant, and/or a way to include vanadium from the start are the two main things that spring to mind. Although maybe just as simple as wanting more time. Guess we’ll just have to wait and see. Still within the licence conditions through, first one was to start construction within 3 months from 3rd April, so that’s the start of July. Pushing it close though!

Yes still a good opportunity to get on board here. SP was much higher before we had any mention of BMR and Kabwe, which despite the problems so far has lots of potential to be a significant long term revenue stream. Add to that, Hernic production is increasing steadily, Platcro tailings now has a plan at minimal cost with more tailings than anyone thought was involved, and DCM platinum should be progressing soon. So looks a lot better than this time. So all in all, potential for plenty of upside here.

Pretty good timing I’d say! But judging by today’s reaction, don’t be surprised if the rush doesn’t start until news comes of oil flowing at a decent rate.

Well the theory is simple, water is heavier than oil. So the force that's pushing the water up 11000 feet should be able to push up more oil.

Anyone given any thought to the 10-14 day estimate to get to the 30% of fluid removed? We are told the target is about 30% of 27800 barrels of water (approx. 8340), and 5533 were removed prior to shut in. So that leaves about 2800 left to go. And if its to be done in 10-14 days that would mean 200-280 barrels per day need to be removed. I'm assuming that the artificial lift is going to speed up the 160 barrels a day we're on as of this morning. But I've no idea how much by. Any thoughts?

Anyone else noticed Box is now on twitter? Looks like its early stages to start promoting the corporate profile, but at least something is happening. https://twitter.com/BoxhillPlc

If the meetings on the 20th, we probably won't get an update for a day or two after, so maybe Friday 22nd / Monday 25th for the next update on Kabwe.

Interesting video, thanks! Also worth reading up on artificial lift. I've seen many comments on this and varying opinions on how widely its used, so have been reading up a bit. According to this website (link below), there are approximately 2 million oil wells in operation worldwide, and more than 1 million use some type of artificial lift. So, doesn't appear to much out of the ordinary here. http://petrowiki.org/Artificial_lift

It looks to me like they have tried to simplify the language in the RNS a little, as they're saying water instead of frack fluid, presumably because many people don't realise that the frack fluid is water. But now those people are reading that water is coming out of the well and not oil!

I still don't get the negative reaction to todays RNS, there's no indication anything is wrong, and appears to be going to plan. Looking back to the RNS on 12th Sep 2017, shortly after the well was reopened last time, it says "Wellhead pressure built to ~3,500psi during shut-in and has dropped to 106psi since flowback commenced and is now declining very slowly with a relatively constant flowback rate of 55 barrels per day." So todays RNS is simply confirming that the well is behaving as it was before. The difference this time being that this is expected and planned for, with the artificial lift equipment ready to be installed to help move the water out of the well.

The rns is very clear on the hydrocarbons, measurements expected to start today. So obviously they can't report the results for tests that they haven't started yet.

Sounds encouraging, platcro tailings now nearer 2m tonnes and growing, and hernic could reach 2500oz a month soon. Comments about bmr payments/share sale a bit vague, but indicates the shares have gone to long term institutional investors.

Thanks for the info, good stuff. I take it from that that a flow rate of 80 or less isn’t necessarily bad, and what’s more important is whether or not the factors influencing the flow are understood.

About $50 I think. A lot lower than now!

Hi BigT0, it doesn't say that, 100-200 barrels is the expectation.

I've thought about that as well several times. The main thing I keep going back to is the most recent analyst report published by 88e from May 2017. This is basically saying that a successful flow rate of about 100-200 is already priced in (as of May 2017), so you can take that as a bad result would see the price fall. Sure enough, following the shut in the price fell, so I see some merit to their opinion. Their opinion is also that farmout potential and conventional leads are not priced in at the moment. They believe a successful flowrate will be the catalyst for further rerating with the unconventional being more attractive for farmouts, while 3d results will allow for valuation of the conventional. Add to this, the report was written pre Yukon gold. So, we're in a very different position now than we were back then. Even if the flowrate isn't good, that news should be followed shortly by conventional 3d and Yukon, with possible farm outs for conventional, all of which isn't priced in at the moment.

Yes that’s the bmr shares going through. 2.5p isn’t bad, would have been a whole lot worse if that amount was dumped on the open market without a buyer lined up.

I'm surprised by the reaction this morning. We were never told that their would be an update today, but many expected one so now a few panicking that somethings wrong. If we had an update first thing this morning all it would have said was flowback has commenced according to the previous announcement. Since we've not had that, it looks like when the next update comes it could be with some actual information on what's happening, such has pressures, amount of frack fluid recovered etc, maybe even some early results for hydrocarbons showing.