Member Info for panman

Sounds about right. 250bopd@$80X 30 days gives $600K. Unsure on us/uk exchange rate is all.

Sad that they didn't take the chance to add a line or two about the pump having been installed and the well cleaning up but as posted below they haven't actually promised they would.

As an also holder of PPP have tempered expectations when they do now. Their 248bopd went down like a lead balloon and that's at less than £2M marketcap.lol

Note that the below are gross revenue figures PPP's revenue share and presumably their share of cost of operations is 75%.

At the moment maybe but with this 248bopd they're pulling in $565,000/month at $76 oil with more expected from the well yet.

If Decembers workover of 4h is close to this successful then they're looking at perhaps $1M - 1.2M.month in revenues with 2 workovers still to come in this phase so not bad value at this marketcap imho.

So the Peel Hunt's were selling into the good news yesterday. Understand the lack of movement on the production jump now.

They could be right. There's pretty dire issues with the Panama Canal which apparently is affecting shipping.

No reason to believe BEN would be immune I suppose.

Called it. lol and they haven't finished yet by the sounds of it. They did estimate 400bopd in the original rns maybe they'll make it yet.

Wonder if these will update on their production test tomorrow. Would be another week gone and given they started last week on 90-110bopd yet averaged 113bopd for the full week "may" see a higher average again.

Yes good to see and not a bad price for BEN at all Looks like the dog days for coal when it only dropped is over.

These seem to be achieving what holders at CGO were hoping for. Was in that one for an age waiting on Carl looks like this is the real deal.

Have been wondering if its still this level as its aquis but the volume has been pretty heavy, not what I would have expected at all?

Their quarterly update was out at 12.42. Can be found on vox rns service.

https://www.voxmarkets.co.uk/rns/

Re metcoal in India Aussie prices are finally coming off their highs as India's looking to buy from the US.

Be useful if it helps US prices stabilize/rise on the additional demand.

"Australian HCC metallurgical coal prices plummeted below 310 USD/t despite strong demand in India and Southeast Asia, causing buyers to take a wait-and-see attitude in anticipation of a further downward correction. Pressure on indices came from increased supply, lower steel prices and Indian buyers’ considering coal supplies from the US."

https://thecoalhub.com/world-coal-market-brief-overview-101.html

Too early sorry "even talking 1000bopd"

As thought they hadn't finished updating, probably still haven't yet.

113 bopd will do for the first well. Looking forward to chalk talk 4H next month and another jump in production.

If interested in the co. would recommend the flagstaff video for their plans for using fishbones tech. Reckon they can up production significantly with this non fracking method even talking 100bopd.

Will make them look very cheap if successful imo.

Tennyson have reported in their note there'll be an update once the rod pump is fully installed and producing in a fortnight or so. Would imagine myself that if they're able to give some type of acceptable timeline for their 250bfd to transpose to bopd as the well cleans up the bulls will be happier with the sp action.

Thanks flagstaff, appreciated.

If you read the RNS carefully they haven't stated that 250bopd is nailed on this month .

What they've stated is that the pump itself is capable of delivering 250bopd but that clean up of the well will continue once installed so we should realistically expect 250BFD turning to 250bopd once clean up is complete.

No timeline is given on this so maybe best not to overegg as others will take 250bopd as given as soon as the pump is installed and be disappointed later.

Thanks Billy- below is good news if they can keep to it imho.

"Meanwhile, operations to start commercial production from the SCHB-2(2.) well continue, with the rod pump (required to finish clean-up operations) in the process of being installed. Production at the rod pump capacity of around 250 bbls/d is expected in the next fortnight,"

Will keep an eye out for these trolls of yours dbh in the meanwhile shame you stopped reading where you did.

re last placing paying off debts and cash being tight..

"Use of proceeds

The gross proceeds of the Placing will be used for general working capital prior to receipt of proceeds from the sale of commercial production from SCHB-2(2.) and to cover the expenses of the Fundraise.

Current trading and outlook

The Company's unaudited cash balance as at 14 September 2023 is approximately €1.3 million. As a result of delays during the drilling of the well, final well costs are expected to exceed pre-drill estimates, however the Company is in ongoing discussions with several contractors in relation to such additional costs.

Do expect a spike so you're likely to get your losses back just worried about holding if it does so.

£4M was to pay for debts from delays-thought we all knew that?