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Welch will not happen too soon for the horizontal drilling, they felt this deal was a better choice which would give a quicker return, the Welch horizontal drill clearly would have cost a lot more and taken a lot longer for payback otherwise Welch would have been 1st choice, it still can happen but not too soon I feel.
Arkoma pointless increasing out stake, not worth it.
At present we are producing around the 58 bopd, this is our bench mark and now we look to increase this.
Stanley well to announce how much it is actually producing, hoping for a very positive figure.
Arkoma has been very disappointing, lots of money spent and still to date we have not got a clue what contribution this has had, but from the presentation very little. It is all a guess at present and if the 2 wells does not production in excess of 100bopd in total then this prospect needs to be re-looked at and do we spend any more on it?
If Arkoma does bring something positive then great we have waited since May 2017, a very long time for such a small prospect.
Welch horizontal wells, it is all about how quick the payback is, at present the Stanley well payback looks pretty good and when the Stanley 2 starts then the return on this will be good. These prospects seem to be a better choice it would be good if Mosmans has an option to increase there stake.
Present 58bopd, only until we really start increasing the bopd and concrete figures are announce our share price is not going places.
I do feel the change is coming.
Just my opinion
This is going to get very interesting, we have HH which I feel results will be very promising.
Brockham is meant to be better the HH, so I expect more.
Balcombe is meant to be better then both and Horizontal drilling, Horizontal drilling produces at a rate that is comfortable and equivalent to producing multiples vertical wells.
What this means is Balcombe could be producing Horizontally a good few thousand barrels of oil per day.
Horizontal drilling is defined as drilling of an oil or natural gas well at any angle that exceeded 80 degrees to the vertical, so the well runs parallel to the geological formation containing the oil or gas. Production from the resulting well, known as a horizontal hole, is often three to five times greater than from a vertically drilled well.
3 to 5 times greater.
Mosman are starting to show some promise, increase in Welch, Arkoma upgrade results in September. Stanley well will be in production in 30-60 days.
Welch Horizontal wells, 5 have been applied for the 1st could produce 80-120 bopd. Waiting on news.
News on Australia.
It is looking better.
When I originally asked about the Portland gas find, I wanted to know as per the rns what the below equated to.
Corresponding metered solution gas volumes are up to an implied rate of 30,000 cu ft per day.)
is this a lot or little, it is only the start I would think the figures could improve.
It is great Alba is slowly starting to get bit more response with there share price and let hope it continues so.
When I watch DL on proactive he mentioned a lot of gas has been find, on the RNS it advises (Corresponding metered solution gas volumes are up to an implied rate of 30,000 cu ft per day.)
What does this equate to in oil per day, when check not sure what the true figure is.
It is nice to see a positive response to the share price, with the further upgrades and news this should keep the share price moving in the right direction, fingers cross the pattern of a continues down cycle will stop.
previous 6 months 9604boe / 184 days giving 52 boepd.
latest 6 months 12260boe / 181 days giving 67 boepd
This equates to 28% increase.
It would be nice for the company to state the bopd, but going forward Mosmans have shown improvement and I look forward to the news with the rest of the up grades.
I feel Mosmans are still in a much better position, money needs to be spent for upgrades before we can see the reward back, could it happen quicker, I would have liked it.
The upgrade news should all be coming up very soon, at present we are producing around 40bopd, not great but it is money coming in, with the upgrades we have to hope they really do increase, I am not taking into 1000bopd, but at least an extra 60-100bopd to Mosmans. When the Welch horizontal wells can be started I feel this will really add value, to fund it they will either issue more shares or get funding for it.
We still have a lot less shares issued then other AIM companies out, the past prospects are the past and the company felt it was not best suited.
There aim to produce more oil I feel is the right direction.
We just have to hope the upgrades was worth while.
I use to be a strong holder with TRP, but when Namibia came out dry and I had near £40k I pretty much lost most of it, I then with what ever cash i was able to save moved to Mosmans Oil and Gas. I think with Tower they did have a proactive board and did not sit around but considering how many attempts they had Uganda 3 times, Namibia 1, Kenya 1, not success and no luck. I do feel for everyone. Good luck and I hope you all get better luck else where.
If we was making just say $500.00 profit margin and we produced say 40000 oz with 20% take taken away taxes we would have £2.3 million. With the 45% stake taken away taxes, we would have made £5.3 million.
Not very happy about the sale, but on the other hand if there was going to be problems receiving our part of the money, better getting something then nothing. Our value is £8.65 million and now we will get another £6 million giving our value near £15 million. Our share price once the funds our in should be near £0.03 pence a share. If STI can also come up with some good news before the money is received then this will help move the price up.
If Stratex could follow the below method then this would bring interest The company (unlike most on the AIM) are share-holder friendly and transparent in their communications. Some would say that they’ve been deliberately conservative, others think some what innovative in their approach (e.g. webcam) with shareholders which seems to be paying dividends. There’s actual trust in the company from Private Investors, their cash position is very robust.
Galantas Gold valued at 13.61 million and we still 10 million. Show the interest in STI. Let hope some real positive news comes through.
I feel there will be at least a further 2 months until we get any concrete news on full disclosure on all costs related to the production. I did receive an email advising me over the next few months the CEO will be visiting both the gold mine in Turkey and the companies’ mineral exploration interests in Senegal and various countries in West and East Africa. Shares holder will be updated.
This is my take on STI, please dont take it to heart just my opinion whiles we wait for the company to announce. 1st 2.5 month produced 12280 au gross amount $14.3 million End of June 7000 au gross amount $ 18.48 million Totalling $32.73 million With the new clay treatment facility installed, this should increase the production of gold. With an operation cost of $560 au oz, for the sake of calculation I would add exta $200, so $760.00 net cost, when you start going above $800 then I don't class it as low cost production. I will take gold at $1300 au oz, so profit margin is $540.00 au oz, a percent of 41% Gross figures 2.5 month, $14.3 million, STI 20% stake giving $2.86 million, net money $2.0 million, (£1.55 million) 6 months, $32.73 million, STI 20% stake giving $6.54 million, net money $4.65 million, (£3.60 million) 12 months, $65.00 million, STI 20% stake giving $13.00 million, net money $9.2 million, (7.13 million) Once you start going above $65 million then the JV partners will receive there $39.00 million a lot sooner then we think, especially if the gold price increases.
Stratex have there team in Turkey working with there partners, so hopefully soon they will announce and update the market, we just have to hope it is very good.
We are going to have a long wait in my opinion, I called the company to see what news i can get and at present with the problems in Turkey the staff can not travel there. Are they any closer with working out the costs of production, i dont think so it felt like there is still long way off until they know the true net cost and a lot of work still to be done. I did advise that it is frustrating for share holders to know the gross profit for the 1st 2.5 months and nothing else. I would not be surprised if another 2 months goes pass with no update, it has already been 7 month from production coming up to 8 months. Also important no one is hurt in Turkey and production is still continuing. A lot of patients required.