Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Yeah it all looks f’ing fabulous. I would think zero chance of residual equity value. Debt holders are snaffling the lot in a sale scenario. In a non sale scenario this is dead in the water.
Following the announcement that they had a no win no fee litigation funder on the 9th April, they announced that the litigation funder had withdrawn on the 14th April.
That story lasted the bank holiday weekend before it collapsed.
Actually he’s right. ‘Conventional’ resource companies with cashflow & proper assets are flying. Particularly the leveraged plays. You could have made 3x In oil & gas cos Tullow, Premier & Enquest in last 3 months. Why punt in things like this which have little hope of building real value? They can spike with a twitter campaign but you need to be lucky to get out in time & can’t play in any size. The aforementioned have plenty of liquidity.
These numbers published today are inline with Conrad’s own numbers that Coro published on 14 April:
Low case 323 bcf (conrad) 287 bcf (GCA)
Mid case 493 bcf (conrad) 495 bcf (GCA)
High case 666 bcf (conrad) 817 bcf (GCA)
Larger range in the GCA numbers.
https://oilvoice.com/Press/43176/Conrad-Petroleum-Announces-the-Completion-of-Internal-Study-and-3rd-Party-Audit-Confirming-Significant-Resource-Upgrade
Conrad have released GCA numbers today. Consistent with their internal numbers....
Results of the updated resource audit
The revised estimates of gross (full field) recoverable dry gas audited in the May 2020 GCA audit are:
Contingent Resource Estimate
January 2019 GCA Audit
May 2020 GCA Audit
Increase
Bcf
Bcf
%
1C (Low Case)
184
287
56
2C (Mid Case)
276
495
79
3C (High Case)
392
817
108
The full field resources above are classified in the May 2020 GCA audit as contingent. Gas volumes are expected to be upgraded to reserves when certain commercial milestones are achieved, including execution of a gas sales agreement and a final investment decision ("FID").