The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Three messages were gifted to you, one was an array of staggeringly low gcos estimates all oddly similar. Another was a fundraise for your follow-on well and the final clue was a clear announcement that just a sniff of this fugitive element was noticed and that you had a major technical problem 1000's of feet down a tiny hole.
What you have is a drilling and fundraising outfit! That is all it is until a commercial discovery is made and then appraised.
The appraisal period or even better the post appraisal time is often the most optimal time to START investing in exploration companies...
Libertarians (or a pseudo-libertarian in this case) are a common enough recourse for a desperate electorate but banning abortion is most definitely not a libertarian principle: merely a toady sliming up to the strange cult based in the Vatican.
Still, major oil companies bend over for just about anyone therefore operations in the Malvinas Basin should continue which is a good thing for the region.
There is a lot of confusion here between Conservatism and Libertarianism...
May be wrong but if the testing had 'blown the bloody doors off' we would have observed it in the price action by now.
The probable only saving grace may be surmountable technical difficulties. Raising significant funds though was a (rare) smart move and could limit an sp crash to an extent.
Bob
It's not to late to learn strategic reasoning or alternatively, stick to sea-coaling and bait finding.
Ironically the most excitable ones are often the flakiest, if the plan is to test three wells using dual techniques and one sub contractor appears to have bugged out due to delays, we have to infer that the full testing program with the inclusion of analysis will be measured not in weeks but in months.
Geologists work in mega annum units but joking aside the huge positive is that your company is very well funded. Enjoy that reality and develop patience while awaiting your results.
Tax is interesting in the sense that it is contingent on the needs of a nation. 8.5% of GDP on the military is interesting...
Wholesale gas prices woefully low https://fred.stlouisfed.org/series/PNGASEUUSDM
But what price did Shell lock Rabat into when the MEG flow was reversed following the Algerian dummy spit? It is a twelve year contract. How will the MEG flows be divided if MOU is a runner? Which existing and future power stations will be provided for with gas flowed in both directions? Where will the separator be?
All fascinating stuff, genuinely learning useful facts.
Incidentally Morocco has 384 Abrams tanks, quite enviable. A lot of Cold War ATGM fodder as well though.
Is it certain that Sandjet testing will happen? Seems a useful opportunity to conventionally test those horizons which are suitable for EXPLOSIVES and make a deduction from those results.
Quite amusing really, that is, the extreme level of confusion on here.
The next event is to prove or disprove commercial volumes and deliverability. This takes time but you have no financial concerns due to the recent large fundraise. Technical uncertainty yes of course.
The placing game was fun while it lasted, in abeyance now.
By now, any E and P newbies should have learned the values of patience.
There lies one of several problems, what to do with the gas, how will the company survive until the (placings normally) and how viable will reserves be with such a low RF?
Please think carefully before ruining family finances, honestly!
A bit harsh, all I have simply summarised are multiple placings, 4/5 on the button with two weeks tolerance and questioned the overall strategy with particular reference to testing and imaging (seismic).
Or I could just follow you and your mediocre ilk and post without exception how utterly fantastic everything is.
Your money, your call. Could not care less.
Onshore seismic? Given that you have just raised a very healthy amount of cash it is more than doable, greatly augments your well data and adds terabytes of information for your data room.
The cost? Hard to say, logistics are definitely problematic and the place is relatively corrupt.
Good for you, cabbage. You ought to eat more of it. Who are the 'cabbages' though, myself or Lenny and Griff Steinbeck?
No I don't, sorry. This is different though, potentially huge and ramped as pressure connected. If it is very large AND pressure connected then a full appraisal will provide you, as a shareholder, with a very good return!
Could have been finished now after all these years. Geologists you see appear to work in geological time. Look at poor wee Keith, spending days staring at pixellated satellite imagery. He actually enjoys it!
Boringly buying the dips is my approach.
Trimmed off sorry. Missed opportunity to buy sub 25p.
Is in my opinion only going to be months away due the sandjet (sub-frac) contractual failure.
A year shooting and analysing full field 3D to correlate with well data is the gold standard, that along with carefully positioned further appraisal drilling.
Probably just raving at the missed
Possibly so but lifting 1.6 mil barrels across Nov and Dec is bordering on stellar.
Opening price for any T/A wizards? I'm expecting to double my profits from the temporarily lame tanker issue.
Donal, good job that you are joking. To conduct surveillance would create a disorderly market and as such PRD would be forced to increase information flow: so maybe that would be good??
Either way if you traded on it the consequences could be interesting to say the least...
It's irrelevant Granit, try and focus on the development of your decision making faculties. You are under no obligation to read my content.