Member Info for offtheball

I make it around 878 bopd to cover monthly operational and YA debt costs based on $55 a barrel profit.

Does anyone know what profit is generated per barrel and what the monthly operational costs are ?

You'll be lucky to get away with comments like that 5p lol.

There were no promises and it was all just aspiration after all......

' Once we complete testing in next 2-3 weeks, Couple of weeks actually, We are going to connect it to our gas processing facility and immediately start monetizing the gas that we produce. So this is all I wanted to tell you without any spin today. '

Some on here really are losing the place imo. Nine months on and we still have zilch to show for the aspiration.

yawn..........lol

He can spin all he wants on a podcast Timster, Hard facts in an rns will decide whether he's a Conman, Bare faced liar or the Saviour.

Sorry pecten11, I forgot we should all reside in the frr box until they decide to update the market :-)

Podcasts help the frame of mind lol....

They've had the opposite effect on me in recent times odr.

Can't understand your theory of a 3p sp. We hit 0.88p in anticipation of UD-2 and the three well drill campaign. I would say we are in much more of a situation with uncertainty now than we were back then. We had it all to look forward too.

Now, UD-2 is plugged and abandoned and the three wells have been drilled but no forthcoming extended well results to prove they have been a success....

There are simply NO results to base any sp guesses around.

Hopeful of an rns this week. No idea why, Just have a feeling.

GLA :-)

We will have to wait and see. Results will judge what frr have perfected. I'd like to say cementing is one process but we haven't had any results to warrant a statement of perfection. Just when your ready Zaza.

These lines jumped out at me....

In line with our strategy to increase production and generate significant value we have been evaluating an enhanced perforating system and look forward to applying this exciting technology once we have finalised contracts.

Oil production on the fields offers excellent netbacks, with the current cost of production of c.US$25 per barrel providing netbacks of c. US$30-35 per barrel.

Hopefully your not too far away with your estimate Madpunter.... I never thought of adding the 60 days testing to the time frame as it hasn't been mentioned with regards to T-39.

Here's hoping your estimate pans out.

GLA

Last RNS update on 19th July.

Well T-39

On 4 July 2018, Extended Well Testing ("EWT") commenced at T-39 well, by perforation of 21m interval of Zone 19, situated between 2970m and 3000m. After a well clean out, the well started to flow light ( 41.5 API), sweet crude oil together with wet gas and, under natural flow, achieved following production rates: 529 bbls/d of oil and 600,000 scf/d of gas using an 8/64" chock size, 347 bbls/d of oil and 425,000 scf/d of gas using an 7/64" chock size and 250 bbls/d of oil and 350,000 scf/d of gas through 6/64" chock, demonstrating excellent well deliverability. The Company anticipates that production rates from future development wells may be significantly higher.

Wells T-45 and Dino-2

The Company is continuing Extended Well Testing ("EWT") of the wells T-45 and Dino-2 in the Taribani complex, and will update the market about these wells in due course.

There seems to be no timelines now, The 60 days approximate ewt on zones 14 and 15 at T-45 and Dino-2 have well and truly been and gone.

Was just interested why the 3rd September was seen as a time for news.

I can see T-39 started testing on 1st July but what makes you think the results are due around the 3rd September Madpunter ?

I don't think the market would withstand anymore bad news......

Remember, 1000 bopd for year end is the bod's target.

Yeah commy, Listened to it a few times too and it does seem to interpret ' as well as ' ....In fact, I listened to the whole thing several times which I never really get drawn into doing. He is certainly a salesman in these podcasts.

Hopefully, This can be transferred to some positive outcome rather than quarterly spin.

About time something came to fruition. It's all good, Very little to go wrong in that interview.

https://www.youtube.com/watch?v=hPncqi5zHDI&t=320s

Did anyone else pick up on the core finance podcast around 4.48 that Zaza states ' T45 and Dino-2 wells are flowing AGAIN commercially ?

Have they flowed before or has there been a problem with the flow that's been rectified ?

I'd agree that full focus moving forward is Eldari B, Zone 19 and below.

' just need that one good RNS and things will look a lot better '

We just need a roulette wheel with the one colour then DanBrown83 ?

I'd allow yourself the privilege of viewing the half year report in September first !