George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Penguins you and I both know that they will not run an optimized 362 set up from the Portland. In terms of decline rates, you will know that the Portland has plans for pressure support that will help shallow the decline curve and boost % recovery. Unfortunately the Kim will not benefit from pressure support and enhanced decline and recoverable numbers. I suppose that is the trade off for being a potentially regionally extensive resource. It's great that ukog can benefit from both types of deposit.
None of us are experts as to what is down that well. But it makes perfect sense to me to perf before setting the plugs. If naturally fractured they won't want to plug a certain length only to find that the water finds a way out through other neighbouring fractures. This is playing it safe. They need to. Well done to the real expert crew on site for keeping Tids and co right. Measure twice and cut once as a good joiner would say. I do wonder why the water zone was a surprise to them during testing though. Did it lay in wait out of range of the initial log?
DHC, I know my calcs were guestimates, but from the countless updates from the eyes over the months my opinion is that the pump has been pumping more often than not. But in short I think that we are close to the rig arriving, probably on a weekend with agreement from council and co. Agree with you about the eyes. I can't imagine what this board would be like without the regular updates. I appreciate all the tweets. GL.
From SEP 18 rns " ("Xodus") analysis of flow and pressure data interprets that further HH-1 Portland vertical well optimisation could achieve a forecast sustainable initial 24/7 pumped rate of around 362 barrels of oil per day ("bopd")* "Further, optimization.". More work would be needed to deliver the 362 barrels.
Sage I'd bite your hand off for 10p. We are in the dark for now and I hope that I have to eat humble pie if the 3.5mil comes to fruition. But he raised 2mil last year and only spent 900k of it on new assets. I have a lot in here since before BB and I wiil wait. I've said it before I've huge confidence in the assets under the weald, confidence in SS is currently at a low ebb .
Heid I have complete faith that site by site, ukog will unlock their assets under the ground, but at what cost to investors? Free cash flow is about a year away if all goes well, but his fixation with buying up the weald on the cheap with our money is putting a huge burden of dilution on us. It's a tough gig holding here.
SS needs to catch a grip. There's no point in him doubling the MC if he doubles the number of shares at the same time. I am dismayed at his disregard for shareholder value and I let him know it today by email (for all the good it will do). Suggest everyone takes time to swamp ukog's inbox with their feelings. That's my rant over. GL.
Portland ewt has exceeded expectations, Kim had flowed at expectations. I would target the easier plays first but that does not make the Kim any more difficult than thought. 2019/2020 drill plans have a fair balance of Kim, Portland and gas targets.