Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Stanley 3 and 4 were funded in the raise last November IIRC - assuming that money is still available, wonder whether this would be put towards either Champion or Challenger in the meantime? We have a 46.83% interest (and will be operator) of the 352 acre Challenger Project, and a 60% working interest in the 240 acre Champion Project (Baja retains the other 40% interest, and will be the operator).
As soon as we get some (decent) Stanley 1 and 2 production figures. Hopefully any day now!
At 73.4 barrels per day in January, the increase in oil price since then is worth about $1,100 a day
... and likely to rise further.
Can you predict something much higher for close of play Monday please!
Baja website has been updated with a new picture of the rig and reference to drilling commencing on Stanley 2 on 19th March. Nothing much else but cannot be a bad sign that they are are publicising it.
SP Angel reiterates .78p current valuation https://www.proactiveinvestors.co.uk/news/details/217609/mosman-oil-and-gas-completes-stanley-2-drilling-217609.html
Barclays are predicting WTI to average $65 in Q2, and just below for the year - "Barclays bank forecast oil prices "are likely to move still higher in Q2 and average $73 per barrel ($65 WTI), and $70 for the year." https://www.cnbc.com/2019/03/29/oil-market-opec-supply-cuts-us-sanctions-in-focus.html
It only seems to be showing on the BETA version of the site for some reason! Here is Proactive Investors' update https://www.proactiveinvestors.co.uk/news/details/217609/mosman-oil-and-gas-completes-stanley-2-drilling-217609.html
It could go higher too, and stay there: https://oilprice.com/Energy/Oil-Prices/Sources-Saudis-Admit-They-Want-70-Oil.html. That's for Brent of course but WTI would follow it upwards
In a note to clients, analysts at SP Angel said: “The drilling of the follow-up well to the Stanley-01 well will be optimally located to provide not only better access to the higher value liquids, but also provide more information on the Stanley accumulation.”
They added: “With the conclusion of Stanley-02, we believe that the Company will be positioned to understand the asset better, which will lead to the management being able to quantify the accumulation's size and split between liquids and gas.”
Ahead of that work, the analysts reiterated its 0.78p per share valuation on the group.
https://www.proactiveinvestors.co.uk/companies/amp/news/216716
Here is the presentation http://mosmanoilandgas.com/sites/mosmanoilandgas.com/files/AGES2019%20presentation_final_0.pdf
Well we are awaiting the Stanley 1 recompletion results and Stanley 2 spud so plenty of potential for more good news in the coming days...
Yeah, few thunderstorms forecast over the next few days unfortunately: https://weather.com/weather/tenday/l/77351:4:US
There's another conference call with Baja later today so hopefully we may know more after that.
While we wait for Stanley 1, 2 and the rest, at least the price of oil is continuing to move slowly in the right direction - WTi currently 57.71
The Baja website has been updated slightly... The Stanley-2 well will be drilled as soon as surface conditions allow for location preparation to be completed and the drilling rig to be moved onto location. Unfortunately, much of the southeast including this portion of Texas has experienced a wet and cloudy winter and the ground has remained water saturated. We are currently planning on completing location preparations in mid-February.
... hopefully not too long now.
GEM update out - "the Board are working towards a conclusion in order that the Letter of Intent may be signed this quarter".
Thanks Mc78, also mentions looking at Stanley 1 (still producing mainly gas) to see what can be done to increase oil production from the existing zone or to recomplete the well and produce from one of the multiple zones identified during the drill
I guess it is on the Aussie website so it could have been uploaded at 18.30 Australian time... still not working though! Hope it's positive if and when we actually get to see it.