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Well I’m really dumb founded here now, not sure on my long term position, need to plan an exit strategy!
Fed up with it!
Time to take a break from this board for a while.
Will wish you all a Happy Xmas and New Year (as best we can in this pandemic), will sit on the fringes now.
GLA
No idea why, we are told very little, my opinion of MH is dropping somewhat!! I’ve yet to see the company value increasing! Starting to remind me of the old Greg Coleman days with fund raise after fund raise!
Been refreshing my info on Clix-1001 well
30th Jan, drill complete Eagle Rig mobilised for testing
6th March, testing under way
15th April, testing suspended, rig re-deployed (due to Covid restrictions ref equipment & personnel outside of Arg.)
So I would say 5-7 weeks of testing performed.
Now looking back on CLM x-1 Eastern TA
12th December, drill complete
19th February, perforated, hydraulic stimulation and result (non commercial)
All completed in 9 weeks including hydraulic stimulation taking 2-3 weeks.
My point bring IMO would say it’s all probability, with 70% COS, initial testing shows commercialIty waiting on independent verification!
GLA
I guess much will depend on what the volume is! From recollection 1TCF has a retail value approx $1bil, so 100BCF around $100m. The high end target was approx 90BCF (I maybe wrong) but the drill log encountered shows at a shallow depth than expected! Migration maybe? But they have said they are excited! Hmmm, only an RNS will suffice!
Just imagine......”Echo Energy are pleased to announce commercial discover........” :-)
Looking forward to the week ahead, echo looks strong and surviving the pandemic ok.
Hoping for news this week to keep momentum going , 50/50 if we get any to ge realistic.
Oil strong and keeps the money rolling in along with the recent gas deal.
Onwards and upwards!!
GLA
So a bit of a list,
1. Wells coming back into production
2. Work-overs
3. Santa Cruz Palma Akai test
4. Santa Cruz Monte Almond Gas Project
5. Rising Oil Price
6. VAT rebate/reduced %
7. Bond note restructure
8. Tapi Akai
9. Bolivia asset
Anyone care to add more?
Hate to mention it as it leaves a sour taste in many mouths but sou achieved nearly £1SP/£1B mcap with bugger all production, just lots of hope!!
All it could take here is some good news with mass potential onwards.
TA was always the pipe-dream here, first drill did not flow adequate, but we were never told the volume!!
We paid £7m for the seismic so cannot see MH just giving that away and if it shows potential on the Western Cube we would be crazy to walk away