Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Seadog, I've said on here before that I think 1 more raise but that's only my opinion. If we get good CPR's and if we get HH2 and HH1z on line and producing sooner rather than later then maybe no raise needed in 2019 for 2020 activities. I'd prefer that SS focused more on drilling expansion rather than land grabs. Ukog could still go south, but very big potential upside in next 12-18 months vs downside imo.
Seadog, no one on here will be able to put an exact valuation on ukog.... too many variables in that equation. But the story that Rodders is trying to illustrate stands a very strong chance of coming true. Each well brought on line funds 3 additional wells in its first year even with flow decline. These 3 wells fund 9 more. HH is so important. Proof of concept. After that each site will be like opening a new McDonalds. Same blueprint. Similar site layouts, same contracted companies, similar planning applications, rinse and repeat.
Jesus seadoc pls don't repost your valuation of ukog based on early EWT production. Can you give me some numbers based on an official Portland cpr, a 1st ever Weald Kim cpr and 2 long horizontals in full production as we drill HH3-6. Ta.
The Weald play has not been proven yet. Why would anyone take options now when there is still some risk when they have the ability to kick them down the road He will wait until all potential downsides have gone.
it's tough holding ukog shares with a high average. BB knocked the confidence out of both the Kim's ability to flow commercial rates and Sandersons ability to captain of the ship. 2019 will give SS plenty of opportunity to restore faith in both.
DHC I agree that recoverable reserves may open up other avenues for funding. I'm less convinced that EWT revenue will be sufficient. I'm not sure if SS would pass up on the opportunity to raise next year to keep the war chest topped up, just in case. GL
DHC I'm not sure about funding. I'm thinking one more raise in 2019 to show oga funds in place for early 2020 activity. Will a half share of oil revenues from ongoing EWT at HH be sufficient? Will certified CPR's open up more conventional lending? I don't know but I'm not holding ukog shares in the expectation of no futures dilution. GL.
Pieces of puzzle coming together. Approx 1000 Bopd per well initially with drop off being compensated by new wells coming on line up to 3500bpd limit for HH. Produced water to be sent back from where it came. So PI's should expect decline and should expect produced water. But should also expect the company to become self sufficient in cash at some point with more lots of prospects to go after.
Just got wains tucked into bed after a great wee day and have time to wish all genuine holders a belated Merry Christmas. Special shout out to the eyes. Ukog has so much to look forward to in 2019 and beyond. The oil is there, they're getting it out. The rest will look after itself. GL.
Great to see the tankers rolling. We've no idea as to what the test set up is but the oil is still coming to the surface and surely will when long horizontals are drilled next year. A wee ops update to tell us the state of play would be good. Is KL3 and 4 confirmed connected? I wonder when the co-mingled test will start.
Brockham PP was 6 months from validation to approval. SS being shrewd and building in 2-3 months extra for unforseen issues even though his recent dealings with the council have been very efficient.
2020 will look after itself. For me the activity at HH is key in short term. Planning application in. (Angs got their oga and planning applications rubber stamped 6 and 9 months after submission.) Near seemless production during 2019. Only downside in the interview for me as that he didn't seem as enthusiastic about the Kim's as he was about the Portland.
Rns stated where we are with the process and it was out of kilter vs market expectations. Some rampers on here have a part to play in that. But the main problem imo was the holiday shut down. Aim is a very impatient place. I personally don't understand why Vonk is ok with letting valuable work days and opportunity for progress to slip by.
Wizard, this will come, it is coming. 1 well drilled in 2017, no wells in 2018, 9 wells scheduled for 2019/2020. Still proving the concept here in tandem with other Weald operators like Angs. My stance is simple, if the oil is there and they can get it out then all Weald oilers will do very well given time. GL.