Member Info for NigelHaemoglobin

Morning

Would certainly be worth 15 mins calculating that cost, not exactly cheap to reinject: an inversion of what a well should be doing. No way I'm going back in here though, too much waffle.

Totally agree, in fact this might only be a speculative buy in the future. Its interesting how one truth has been reported, ie how much of the original well cost has been recovered...

So, six months of road transporting fizzy water along with some oil (50 bopd ave in six months). Bloe must be losing 10- 15% of value in trucking alone.

At some point this becomes entirely uneconomical. This company is being carried by E and P newbies, good luck.

Tovoc there is little connection between the speech of a politician and creating law: they will arrive at a conclusion eventually and it is entirely possible that constraints could be placed on licence option upgrades or that they could indeed review licence area pricing.

Very much a case of pin the tail on the weasel with politicians.

US intervention very unlikely Bootle, Trump may be strange but nowhere near as bloodthirsty as the Bushes, Clinton and even Obama. US shale making a fortune this week: don't forget he is not a statesman or military leader but a businessman. Nothing more than that. A positive I would say, good luck to him.
Certainly though the F.I looks interesting now, wavered a bit this morning but decided to rebalance oil shares.

That said, sold some to spread risk, quite a few ops out there now due to the crude supplies issue. Still a speculative buy.

Huge liquidity on the bid, appears a poor idea to offload. Some visibility re well permitting would be useful? Otherwise its a yippedy dip and a zing zang spillip.

Back the truck up, the deal was well underway at five years post appraisal well. Those five years were truly awful in development engineering terms involving severe drops in the oil price.

Anyone up for suggesting a guide price upon succesful farm-in to Inishkea?

What 50% cos for a wildcat in an undrilled basin! More like 15%. Jeeez one born every minute.

Agree, increased here: should have the transfer completed this week. Still it is more than feasible for PVR to farm out half of their position in Barryroe creating more complexity in terms of operator. I very much doubt that more than 50 cents per C2 bbl would be offered at this stage though.

A terribly sad yet familiar story, thousands of retail investors, some ‘all in’?? to just one company very often in a SIPP wrapper. At some point bond dealers arrive and quite shortly after the company is firmly in the hands of the already wealthy.

Has to be said, all of these outfits: GKP, XEL etc etc clearly publish in their prospectuses that sophisticated HNWI type investors are most suitable for early phase projects.

Few read or listen, craving massive upside yet unwilling to accept capital destruction. I mean, this could actually be a buy for the very few who can calculate chance of success in all this complexity!

For the freshers in E and P take the time to compare well update rns’s with alternative companies. I did flag some of the desirable information absent which ideally should have been present. A fair amount of delving was required to find the original permeability and porosity metrics. Did you notice that water ingress is not completely discounted.

Not in at the mo, other geopolitical situations look safer and perhaps more profitable. Does BLOE have PRI?

Rpood your post is not of course total nonsense given your clear historiographical and factual recall but it is indicative of an investor lost in detail. How can you justify your opinion that Rkh is a 'safer' investment now that revenue (in a probable higher o.p environment) has been rejected?
Now, what mostly remains are two major risks-to-success: both majorly legal and geopolitical.

Safer? or higher risk/reward?

Car ferries and container ships do not shoot VSP's or drop 150,000 kg's of cuttings on the sea floor.

The preservation of aquatic mammals more important than share price growth to some of the krill floating about on these boards.

Why worry about the deal? This is all about proving and adding gas plus barrels. Ideal fit for Premier or maybe Rockrose and Serica to buy out 50% of Exola and all Logp. Possibly even a major but I doubt it.

Providence are fundamentally an exploration company.

As I posted before there is too much impatience here, possibly driven by traders. Probably 15-16 months to complete the CPR, we need more wells and most definitely WR 30 to test the P10 area. Full seismology both shots and processing.

It would not pay the company and the state of Georgia to rush at these problems.

Afternoon Boff

Very good call from you to hold and gather more. Can Block hold on though? This one has not only your expectation future Mcap based on forward P/E but with the added possibility that the share could be speculatively bought up to an expected buy out price or even beyond if over excited PI’s push it.

Good grief, what a journey!

Sea7 I’m not sure how much petrophysical knowledge is required to succeed in E and P investment. Water drive is of course important but most PI’s I expect understand two things namely, there is an OWC and that a reservoir is generally under high pressure. I really don’t wish to nitpick but your term ‘drawn out and replaced’ (sic) is a quite contentious term for any physics/fluid dynamics nerd.
What really bugs me is the lack of transparency here. My assumption is that the well has been shut in for three months. Also WHERE is the permeability, porosity info in the updates? I had to search the AIM admission docs, an update now we have new well data is the priority. Reservoir pressure and flow rate per psig is no use unless new flow depletion graphs are offered to us.

Manyana

Little chance of your Cnooc Iolar rig picking up ad-hoc work. Well permissions are based on EIS submissions which are rig specific.