Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
If anyone hasn't seen this interview with Zaza then it's worth listening to. Even if you have it's worth listening to again :-)
https://www.youtube.com/watch?v=JRehYTbZXnc
Up to about 06:45 they are talking about operational aspects of FRR. At 06:45 Zaza is asked about Hope - he says as much as he can but it all gives me confidence that Zaza knows what he is doing and has a solid case.. At 09:45 the conversation switches to YA. At 11:30 Zaza is asked about the investment case for FRR with the key discussion about how Zaza thinks this is all coming together at 12:00 Zaza says that the legal activity has been necessary followed by some relaxed scenes with the interviewer. At 12:25 Zaza starts reeling off some exciting numbers with smiles. Zaza is not a man staring into the abyss!
Enjoy! ATB to the FRR faithful
If the Portland is sitting on top of the Kimmeridge then the oil could migrate upwards until it is stopped by a permeable layer - this will seal and create a reservoir. I wonder if this is what Conoco saw? I think Forties actually extracted from a Portland reservoir supplied from Kimmeridge source material.
This is what the BGS have to say about the Kimmeridge: https://www.bgs.ac.uk/lexicon/lexicon.cfm?pub=KC
It seems to be in the Northern North Sea that we see the greatest thickness of 1400m but further south in the North Sea it is much less however from memory I still think the Kimmeridge underpinning the Forties field is about 500m.
Many of you here will know this already but some newer investors and BB visitors may not realise that the giant Forties field under the North Sea discovered in the 1970s has been producing oil from the SAME Kimmeridge formations as we have in the Weald Basin. It was predicted back then that the reserves would only last until the 1990s which was a huge underestimate. In the late 70s peak production was about 500,000 bopd - it has to be said that the Kimmeridge under the North Sea is much thicker than in the Weald - and in the early 1980s they passed the one billion barrel mark. So this is the real deal here and not some speculative hunch that there is decent oil to be had in the Weald Basin.
@B2HS2L - the stations all look too far away from the Brockham Site to detect any general site movements at the surface. If a station has been visited by someone to check the monitoring equipment then that will be enough to send it crazy. From looking at the map it looks like the BGS has tried to locate the stations away from "noise" e.g. roads. Maybe the swampies have been jumping up and down on the station lids :P
I guess the MMs will be trying to think how to outdo each other and make the most money out of what is to come once an RNS announcing oil at the surface lands. That will probably involve the SP going up and down often unexpectedly. I think the best thing this weekend is to rest and recharge the batteries for the ride of our lives next week!
GLA
That's because they aren't seismic waves - but I agree with your second sentence that oil should be flowing soon.
As I said earlier, if these were seismic waves then you would see them also at RUSH, STAN and GATW. Have a look at HORS short period on previous days - you'll see a lot of "activity" but again none of it is seismic. The reason why there are 4 recording stations is because the differences in the time and strength when waves reach each of the stations allows the BGS to pinpoint any quakes' hypocentres and hence which layer of rock they are occurring in. This is then published here: http://earthquakes.bgs.ac.uk/earthquakes/recent_uk_events.html and usually quite quickly after a seismic event has taken place. To be honest, the last thing that we want is for our perforations to be triggering earthquakes! :-)
The two big events on the HORS trace are not from seismic waves- if they were then they would also have been detected at the other nearby stations with offsets for travel time and attenuation. There is no doubt heavy things have been getting moved about! - could it just be equipment at the Horse Hill site? I’m not sure of the exact locations of the BGS stations in relation to the various sites.
DHC - this is pointless. You do not represent these companies. You have manufactured a competition that doesn't exist.
The exchange reports quantities and prices but not whether they are buys or sells.
@DoubleHeadedCoin - are you aware that Angus's tax year ends on 30th September? That gives a full 9 months of invoiced revenue that Angus doesn't have to set aside a chunk for Corporation Tax. I haven't checked the £11 million figure so can't vouch for it as the HMRC rules for carry forward trading losses are complex. So, assuming that it is correct, and using a USD/GBP rate of 1.25, 65% Angus share, $36 per barrel after production costs then approx 2200 bopd soaks up all of that £11 million. Now that is real money because each month about £490k revenue is available for use rather than being set aside for Corporation Tax.
@Degsy - passing traffic will give plots such as those that you're posting. Anything seismic will also need to have been seen at slightly different times and intensities at GATW, RUSH and STAN. You need to know the wave speeds and attenuation rates to be able to triangulate to an epicentre and hypocentre - that's what the BGS do and publish on here: http://earthquakes.bgs.ac.uk/earthquakes/recent_uk_events.html
No movement Costello? Shall we take a look?
7th Oct: 0.41p
7th Nov: 0.52p
7th Dec: 0.675p
Seems to be moving to me!
@RealAnalyst
Looks like the MMs are still trickling a large selling arrangement which is absorbing current buying activity. They're probably taking out "weak" holders too and building up a war chest as they won't be able to hold the price back the oil flows to the surface. Unfortunately this is a fact of life under SETSqx but without this small cap companies could struggle to get the finance that puts us in this great position. Just a matter of waiting and letting Vonk's troops deliver. The danger of trying to give snippets of news in advance of an RNS is that you have to be careful not to say anything that should actually be RNS'ed. But being vague then leads to speculation and coach loads of derampers turning up leading to school playground style squabbling. Personally, I'm just going to chill this weekend and hope it all goes well on site. All just my own opinion, GLA.
Sorry - the holder of the placing shares is NOT interested in the success of the venture.
Welcome to SETSqx where it is the Market Makers that decide the price (unlike SETS where almost continuous trading activity is sufficient to keep the engine running). If it is placing shares that are being sold then then MMs will probably be using these to absorb buys. It appears to be a common situation where all this will have been agreed in advance with the holder of the placing shares is interested in speculating on the success of the venture financed by the placing. SETSqx allows these shares to be sold in an orderly way. Once they run out then BOOM!
@Seathestars
Share price is analysed as a multiple of current earnings which reflects future earnings & growth potential (Price/Earnings and Earnings Per Share - google these terms if you're unfamiliar with them). For exploration companies this can be a problem as 1) there are no current earnings and 2) there is a risk that the company will either run out of cash or will have to raise new capital to finance projects. Working with a big boy like IAMGOLD reduces the possibility that #2 occurs and increases the likelihood of potential future earnings becoming actual earnings. Hope this helps!
Section 2.7 on page 17 of the link below gives an insight into late (i.e. deferred) trade reporting.
https://www.afme.eu/globalassets/downloads/publications/afme-mifidii-mifir-post-trade-reporting-requirements.pdf
There probably needs to be reform but it's a double edged sword as small cap companies need to raise capital and their not actively traded shares need a market. For many small mcaps raising capital via private placings is their only option and probably there will be an agreement with the MMs that to offset the risk of injecting new cash they get a guaranteed return. I think that's why we see a lot of placing shares and warrants following a typical pattern e.g a 10p placing will be sold to the MMs at 12p who have been holding the share price back at this level by simply absorbing buys. Then once the placing shares/warrants have been exhausted the price goes up and they sell to PIs at say 14p. The financer has made 2p a share, the MM has made 2p a share, the company has its cash, the PI has hopes and dreams! The alternative is IPOs, Rights Issues to name 2 but they are expensive, risk flopping and not really available to the small mcap company. With BMN I think we are caught in a transition zone where we have outgrown the small mcap regime but still have had an overhang of placing shares, warrants etc to work through. For us at BMN I think it could time to move up to SETS and put MM games behind us. Then we will see true value for our company. An another way to look at this is to consider the MM position if we no longer do any placings etc. I think the MMs will encourage us to jog on to SETS as we will no longer be a piggy bank for them to raid. However, it has served the purpose of getting us to where we are today!
Hi Faramog.
SETS shares have more activity, less need for MMs, almost a continuous flow of buys and sells during the day, the spread is not important, share prices are truly determined by the buying/selling ratio.
SETSqx shares are less actively traded, prices set by market makers rather than market pressures - although sometimes market pressures get too great on news which leads to unwelcome spikes, market makers are obliged to quote while the market is open which is quite a risk for them but as we see they take liberties with such a privilege,