Member Info for MrMarkyB

I would not say I am a great supporter anymore but live in hope I get close to my investment back, but that does seem far away.
Do I sit it out or sell and move on, that is a question many ask themselves on here. This is now a very dull share and if it wasn't for the Santa Cruz asset we would be gone, reminiscent of the Greg Coleman days of leadership now.

I agree with what you say abzzba, in our current position growth is what we need. It would be interesting to know what the current state is today, ie the end of Q3 not H1. We are not privy to that data.
Mcap very frustrating when you look at revenue (which seems quite low considering boe stated), but then we do have debt hanging around our next.
The market not swinging either way, I doubt we will see any thing half decent until 2021 now, back draw stuff now..

Many of us invested substantial sums of money with TA forever thrust as the big prize, it kind of seems it has been taking away for now, very very very frustrating....PI always the ones who get the bad end of the stick.....

I guess as we were told reference Tapi Akai many historic wells had indications/testing of gas shows, but in the 80's oil was the prize, hence many abandoned. These wells are now favourable for gas production but would obviously require re-testing to prove 1p reserves and the viability of commerciality.
Massively reduced costs as they are drilled and so I guess WO to clean them out, possible fracking and local infrastructure to distribute via pipe or truck.
Plenty of irons in the fire but we need some real positive news.
Cash flow one of the biggest concerns going forward....

I read it that it was the then joint venture partners not us, or did I read that wrong. If that was the case they have just studied the old files on the asset and deciding the best way to proceee

Looking at gross cost of concept from 2019 and 3 month payback, looking at $2.28M PA, does that consider opex of that well.
Makes me wander if one of the compressors we purchased capable of compressing the gas to the state requires.
Interesting that also the possibility of a hub for both projects.

I was only 24hours out, not what I was expecting, mid term accounts should be soon

A fair analysis on the odds given,

Rns first thing tomorrow in my opinion, fingers crossed it’s good-ish

WT
I never really bought it either hence my only thought were an independent test external to Argentina linked in someway to a CPR. Time will tell, I still hold on to the fact this well was up-dip of existing plays

Interesting observation Linns, thank you,
I guess we must all keep the faith that we will see a turnaround at some point.

When the well was tested on TA and the previous 4 well campaign results were reasonably quick and detailed, logic would think we would see the same on PA.....but we have not had a snippet.....I can not recollect how long the well had progressed through testing when it was paused but it was several weeks.....all strange..
Come on Echo

So the Eagle WO rig, which we own, was used to complete testing operations and determine productivity, although this was suspended

15th April RNS

Campo Limite Test Update



Due to the ongoing international travel restrictions as a result of the COVID-19 pandemic, key personnel and equipment required to continue testing of the Campo Limite well from outside of Argentina have been delayed. As a result, a decision has now been made to temporarily suspend the completion and conventional inflow testing of the well at the present time until there is clarity as to when the present restrictions will be lifted. The Company looks forward to resuming the exploration well test when conditions allow and reiterates that this project remains a priority 2020 growth project for the Company and its partners.

So the question is what is the specialist piece of equipment and personnel we require!!! This should really be "run-of-the-mill" operations for any operator.......my only idea is that it could be an independent to validate any discovery for a possible CPR......

Thoughts anyone?

A few snippets from older RNS's
Jan 20th
The target Springhill Formation was encountered at 2,124 metres. Initial analyses of the wireline log data have been completed and have highlighted a zone of interest comprised of fine grained sandstones. This unit also coincided with elevated gas shows of 193,000 parts per million ("ppm") against a background of 20,000 ppm.

30th Jan
The Company is pleased to announce that CLix-1001 has now been confirmed to have identified the top of its primary target, the Springhill Formation, some 28 metres above pre-drill prognoses and 58 metres above the interpreted regional water contact zone within the area.



The fact that the Springhill Formation, across a 19 metre gross interval between 2,124 metres and 2,143 metres, is shallower than pre-drill prognoses had estimated, is potentially indicative of increased reservoir volumes situated above the water contact across the Campo Limite area, but confirmation of this will be the subject of future technical work.



In addition, the Company confirms that, following completion of drilling activity on CLix-1001 and the previously announced decision to move to completion and testing of the well, the programme for the completion and conventional inflow testing of CLix-1001 has now been agreed and testing operations are expected to commence in the second half of February 2020.



The Eagle workover rig, owned by Echo and its partners in the SCS assets, will be mobilised to undertake the testing operations. The completion and testing programme now defined is designed to seek to determine the productivity of the Springhill reservoir at the CLix-1001 well location and to identify which intervals are net pay.

Well someone is confident with those two trades, RNS tomorrow lol

Half year report soon, hope that’s favourable! But like u say need some good news, mcap very poor

I have just noticed SOU RNS, half year report, should get ours soon then, will it turn us red as well?

Cervelo, beat me to it, does Trellis not realise or did he not read that the compressors are on the Santa Cruz Sur Joint Venture!!

I still find it unbelievable our current Mcap, yes we have debt but from today’s RNS we can see great cost savings plus assets that can form part of any liquidity event.
Hope we hear of the WO soon and Santa Cruz results.

I’m pretty pleased by that, good purchase and cost saving, like the paragraph

“By securing ownership of this important infrastructure the Santa Cruz Joint Venture is better able to facilitate anticipated future increases in production levels resulting from planned production enhancement activities.“

Sounds positive!!

Oil production in 8 months positive (taking into account shut in) of approx 500k, @ $40 bbl that’s $20mil, in target for north of $30mil per annum, rough figures but looking good to me

It is becoming concerning, this silence makes me nervous.
Investor communication paramount for any company, MH does play his hand very close to his chest, Santa Cruz was kept dead quiet! I hope we are not looking at anymore acquisitions, can’t fund what we have without raises!
It beggars belief where all the money went in the past!