Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Romania (Parta Block) Exploration Asset
OPERATOR
ADX ENERGY LTD
INTEREST
50% INTEREST IN THE PARTA CONCESSION
LOCATION
PANNONIAN BASIN - ONSHORE ROMANIA
Asset Highlights
A prospective exploration block in a proven and producing hydrocarbon province in Romania
1200km2 acreage with eleven identified leads
Mean unrisked prospective resources 303 bcf of gas and 47 MMbbl of oil
Located in a politically stable European community with favourable tax and royalty conditions
Easy access to local infrastructure and European markets
ADX was awarded the block in October 2010. Parta Block is located in one of Romania’s prolific hydrocarbon provinces.
Geotechnical studies conducted by ADX revealed two independent play fairways with good upside potential within the migration pathway of the MAKO source kitchen (the MAKO-trough contains the Algyo Field in Hungary with produced hydrocarbons of 2.6 tcf of gas and 225 MMbbl of oil). Several oil and gas fields have been discovered in the Parta Block since the late sixties with a total of 2P reserves of 12 MMbbl of oil and 50 bcf of gas. The block is considered underexplored based on seismically identified potential.
ADX has identified (based on available limited 2D seismic coverage) eleven leads in the 1221km2 area with a total mean unrisked resources of around 300 bcf of gas and 45 MMbbl of oil respectively. The evaluated mean EMV for the permit is US$ 210 million.
ADX has signed the concession agreement with the national agency NAMR in Jan 2011 and is currently awaiting final governmental approvals.
Committed techical work program
Seismic re-processing: 300km
Acquisition of 2D seismic: 100km
Acquisition of 3D seismic: 100km2
Drilling: 2 wells in to the Pannonian Formation
13th August 2018
Reabold Resources Plc
("Reabold" or "the Company")
Update on Reabold California
Reabold, the oil & gas investing company, is pleased to announce that Integrity Management Solutions, contract operator of the California licences in which Reabold has options to invest, expects to spud the Venturini-Ginochio #3 well on the West Brentwood license this week. The drilling site has been constructed and the rig is currently being mobilised.
This is the first of a planned multi-well campaign on the California assets, in which Reabold has the right to earn a 50% interest.
The VG-3 well is targeting the updip portion of a previously produced field identified on 3D seismic. The drilling is expected to be completed within approximately two weeks of spud. Assuming the well is successful, it is planned to put VG-3 into production as soon as possible, therefore generating near term cash flow for Reabold.
Stephen Williams, co-CEO commented:
"We are very pleased with the preparation for the first well in California, and keenly anticipate first the spud and then the result of VG-3. Fast drilling times and the ability to put these wells onto production very efficiently mean that shareholders will not have long to wait for drilling results and valuable production and cash flow in the event of success."
Reabold is also pleased to announce further success on the Monroe Swell workover programme, in which Reabold holds a 50% equity interest.
Contract operator Integrity Management Solutions is undertaking a four well workover programme, consisiting of the Doud A-1, A-2, A-3 and A-7 wells. Following the previous announcement of initial production from the A-3 well, we are pleased to be able to report that all four wells are now indicating production of good oil, and therefore we expect to put all four wells onto production in the coming days. We expect to provide a stabilised production rate once all wells are producing and the load water injected into the wells as part of the workover programme is recovered and removed.
The success of the workover programme to date is at least in line with expectations and therefore with previously reported NPV potential.
Sachin Oza, co-CEO commented:
"A successful Monroe Swell workover programme demonstrates extremely impressive financial return metrics, and delivers very quick cash flow. We are very pleased with the progress of the workover programme, and excited to be moving into the more substantial, higher impact drilling phase of the California campaign."
ENDS
Both have moved up since yesterday. I thought that was good or am I incorrect?
Buying above the 2.2p Ask of yesterday is all good.
But well worth the read and must upset a few MM's
http://www.valuethemarkets.com/index.php/2018/07/31/aim-chief-exec-lofgran-breaks-ranks-challenge-market-makers-naked-shorts-ntog/?utm_campaign=shareaholic&utm_medium=twitter&utm_source=socialnetwork
A businessman with morals!
Its only a shame he didn't call MM out!
So I just bought 172 shares
For a 265 shares traded, that's £5.35, not even 0.007% of issued shares.
The Ask was 2.22p yesterday, now 2.5p, they don't have any stock or don't want any buying.
Buy just a few I think and see what happens.
Taking a risk that the price is being dropped on purpose, hoping I can get back in at a lower price and build on the 50295 share I had.
order detail
Order Status
Executed
Order Reference
LGV4R6
Date
01/08/18
Time
14:44
Stock Name
FAST FORWARD INNOVATIONS LTD ORD GBP0.01
Action
Sell
Order Type
Market
Symbol
FFWD
Quantity
50,295.00
Limit Price
Price
£0.133551
Consideration
£6,716.95
Commission
£6.00
Stamp Duty
£0.00
Levy
£0.00
Total
£6,710.95
Accrued Interest
£0.00
Expiry Date
n/a
Settlement Date
03/08/18
Settlement Period
T + 2
Market Currency
GBP
Settlement Currency
GBP
Indicative FX Rate
n/a
I'm out for now
But had to pick some up below the placing price.
meddler:
88e may have, but the spread is 8.7% on a 9.09% rise, much like our rise here, all but contained within the spread.
These are not good rises, until the spread narrows significantly. Just tested ii, they are offering the Bid @ 2p.
And while writing the spread narrows, appologies.