Do you think an extra drill now in this campaign would Target Liberator west as originally planned. Or would a second hole into 150ft (+?) sands at Serenity be the clincher for a BIG deal with RRE / Repsol-Sinopec ?
@Brad29 - sorry, but that really is a how long is a piece of string question and regrettably a bit beyond me to answer reliably. All the kit at Vanchem is old but, that said, it was all working perfectly well when the business rescue was forced upon them and so providing that it was mothballed reasonably I wouldn't expect that the remedial work to re-establish working kit should be prohibitive. Almost certainly the Kiln's will need re-lining, awkward, mucky and time consuming but potentially not horrendously expensive $4-5million maybe. Remember BMN have said they can refurb the entire site for $45m over 5 years. I'm sorry but I don't even know the sizes of the Kilns at Vanchem - this is just part of the detail I would love to hear at some point from the BMN team. If.... and it's a big if. But if one of them was reasonably small and in good enough condition, I wouldn't mind seeing it removed and re-installed at Vametco to provide a secondary facility on site there but this is just me spit balling.
on SETS each company has to have at least one market maker nominated to ensure that shares are available to buy or sell at the advertised NMS. Typically there is more than one MM active in the market for that company. The big difference and why it is harder for them to skew the market is that their Bid and Ask offers are simply part of the wider book which includes everyone elses hence the share finds it's true value based on demand and sentiment. Nice to see you long again @gkb47.
RE: i3E write up from last weeks Oil capital conference...05 Nov 2019 13:46
O&W - 30% RF is very mean spirited for that area - closer to 50% is not unreasonable. Also $2bbl is extraordinarily conservative given proximity of the infrastructure already there. $5 wouldn't be outrageous.