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Free cash flow sometime in 2020, probably H2. Maybe somewhere between 6.2 and 7 billion shares in issue at that time. So after that, we have a 50% share of 3500 bpd and funds to either drill with profit, or lend against revenue stream. Between now and then.... Anyone's guess. If he has to raise to get horsehill production ready or drill HH3, let's hope its few pennies higher than now. GL.
Seadoc, I gotta love the irony in your post. Someone posts a 3p number and you pull him on it. This after your pre school 0.8p valuation calcs that you've posted countless occasions and made yourself look like a twit each time.
£26m cash raised since the last hole was drilled has tipped the scales heavily against holders. I fear that they may tip further before HH3 is drilled. It may well take the generation of free cash to drill all future wells to tip the balance back in our favour. I can wait, don't have much choice though.
Only a couple of facts in the rns. The plug has been set and the pump has been tested. Everything else is unclear and simply conjecture. We don't have confirmation that the isolation has been successful or that any test kit has been ordered. Kit may well be ordered but perhaps no delivery date confirmed yet. We might get a timeline on delivery dates next week.
I'd like to know the specifics of the water problem. Was it a few feet, half the payzone, which horizon was it in, has it been completely isolated? Perhaps some commentary on the reperfs and pressures observed. Confirmation that flow test kit has been ordered. Flow rates will come later.
If you draw the original Perfs on a page from 960-1155, then set the reperfs beside it, it doesn't make sense. They would have discarded 28m at the top of the well and 110m at the bottom. Original Perfs could still be in play. Rns vague.
Angs were always going to need funds for their planned operations. The gas acquisition was a surprise. Most PI's hoped it would be at a higher sp or after they had cashed out. Flip side of any placing is an impending set of events which would convince any institution that they will be able to offload the placed shares at profit.