Personally I'd hope they be ready to meet that month deadline. In case all does go well. Id hope they wouldn't be caught short on that and need to add upto another month on the second site. Imo it should be that prep and drilling can operate independently of one another so I don't think the first drill affect basic prep for the second. Shouldn't wait till drilling is over, especially as you don't want lots of idle drill days. Each day is money on that and I'm with DM, I hate wasting money.
Curious about this 2nd hold as well. Be interested to know if all is going well on that ,however we can say that as much local cooperation may not be required as in compensation to farmers and land clearance? Maybe
Dai, I find this hard because I want a calculation i can apply in a spreadsheet, and I'm sure there is one somewhere but a little bit like underwriting in insurance, if you can find two cases identical ,then its a minor miracle.
For COPL correct figures here (as puppy is asleep and the tea i just spilled on the laptop hasn't killed it(phew).
"The deal was agreed in December last year, with the oil price at $39/bpd, before jumping to almost $70/bpd (15 March-takeover date). $2.18/bpd acquisition cost against a value of $7.52/bpd at net present value (10%)"
Looking at that not sure where I have my 15% from, but COPL have so many potential positives and questions/pitfalls I've lost track a little.
Generally Dai, and on that question too of late, bseems to be about 15% of a barrell in ground value for asset pricing. Obviously in ground Wyoming is more than in ground Nigeria. In Copl was 3.62 in ground value when deal agreed but 7.50 when deal closed.
It it a question for a helium metric or another interest?
RE: The relevance of 70m gas show06 Jul 2021 14:54
I think the HE price is difficult to gauge. A western world price vs Chinese price and as consumption is rarely stable year on year its becomes harder to predict and amalgamate into averages. I would think part of China helium pruchase cost is due to its reliance on Qatar LNG by-product, that disappears with HE1 in production. Anyway the pricing is curious, American behaving as a international controller + refusing sales to China the communist party on the open market, whom then buy from Sheikhs in Qatar. Go figure!
IMO its beneficial to have less volume but higher HE concentrations.
I do wonder if CO2 levels will have some impact on the SP too. If reasonably large CO2 numbers arises it's something of a negative, not an insurmountable one, but expectations are for it to be Green and world friendly.
I'd be keen to know if the mass spectrometer gas chromatography machince in the portacabin will give us a whole reading and/or if we get a indicative (pre-appraisal) flow rate. All of these items appeared on the first DME report( I think)
Munich, Stuttgart, Berlin and German composite market too, only 58k shares traded in Frankfurt so ya know. Interesting to see how SP reacts yomorrow, I think a small dip but if we rise uSA OTC could get feisty too I guess.
Pretty remarkable to me that a reasonably wealthy CEO is presently wild camping in Tanzana in searing heat with very few creature comforts. Many would prefer that over 7 star hotels everyday of course but still pretty exceptional CEO behavior in a world where greed and power are often motivators.
I agree but I don't see any panic. From he1 or PIs, just discussion on best case worst case scenarios. No one saw Tai moving into play so the bod show they can adapt. Just some second guessing on heavy positions here.
NDN71 because that's what the company have been saying.
“...Whilst we are fully funded for our three well exploration programme, this fundraise will enable us to aggressively carry out our appraisal drilling and 3D seismic programme immediately following any discovery....”
Tough call that Kevin, but may see it strike HE, but not get full gas composition for a few days/ week. May see it rise over a few sessions. However if one strike and one success is what youre after then sell up. I'd advise hold a little in for fun .
Well don't think the plans are concrete Dai, but don't see many changes to the three drills? Not sure what other posters think. Although a Scenario of The first two being big successes may give them a discussion but probably stick to 3 and not 4th in that case