Member Info for pawnsacrifice

from fireman's link gotta say this is never going to work for them..

"By 2030, the island of Ireland would be almost totally dependent on Britain for its gas supply – the UK, in turn, would be importing up to 75 per cent of its gas due to declining North Sea production, Mr Moore said."

Good to have some no's predicted for the year. Very decent ones too considering they don't take into acct the large offtake deal they're currently negotiating.

Outlook



Contango's model of focussing on near term production through low capex and low opex projects is expected to bear fruit for shareholders during 2021. The demand for coking coal in Southern Africa remains buoyant and the conversations that we have had over recent months, and perhaps more importantly, in recent weeks in relation to the aforementioned potential offtake partner looking to be ready to commence production from its coke batteries by the end of April, are particularly promising.



Separate to the aforementioned potential sizeable offtake, the Company entered into two Letters of Intention ('LOI') during the period. Upon conversion of these LOIs for 32,000 tonnes per month of coking coal into formal offtake contracts, the Board believe that this could be translated to earnings of circa $1m per month. Coupled with an initial phase of production from Garalo in Q4 2021, at an initial level of 30,000oz per annum, the Board believes that an additional EBIT figure of in excess of $1m per month is realistic. This would clearly be a significant result for Contango shareholders and testament to the value of the Board's strategy of prioritising assets with the potential for rapid returns.

Not all bad, as a newbie glad to be given the chance to dripfeed in before an update on ops comes out.

Feels a bit like PRD at 4p no interest there then either.

Yes pretty good deal. Also shares won't be issued til later this year and then subject to a 12 month lock in.
Looks to be a lot to like here and quite a bit of newsflow to come, have taken a few and will reappraise once more news comes in on their offtake agreement.

Thanks for typing at all 803, appreciated.
If they wanted the offtake route must say it does seem fairly nailed on with this large chinese co. involved.
Will do some reading of their RNS's etc . Thats my Friday morning sorted then. What lockdown, lol

First time researcher on these. Having watched GCM for so many yrs always keep an eye out for potential successful coal plays.
Shares in issue given as 241m seems very low? Take it thats correct?
TIA.

Is it foolish to take it for granted it was a mistake?
After nigh on a year of the sp languishing the shareprice shot up from under 4p to 14-15p in a few weeks. If they got an offer on financing it must have been awfully tempting to do a very cheeky placing knowing they could cover it with Pauls shares esp in this covid environment where shares can tank through the macro at any time (thank you boris et al)
Not saying they did pull a fast one just that I would have if I thought it good for the co.

Thought the same. Amazing really that even the greens won't totally play ball with the activist either.
Noted for instance they won't put no to imported fracked gas in the climate bill so locking it out.
Take it this is partly at least the influence of the data centres and other big energy users/taxpayers?

Greens appear to be showing signs of backpeddling even on their promises to ban imported fracked gas let alone non fracked.

http://safetybeforelng.ie/pressreleases/pressrelease20210320ShannonLNGReapplyingForPlanning.html

May well be true that there's more co2 eor operators down the line but PRD still seem to be in a very good position with their first mover advantage for now and from their 20 Jan RNS they're already garnering a great deal of interest..

Business development

· The pre-Pilot CO2 EOR success has de-risked CO2 EOR in Trinidad and has provided the commercial, environmental and technical model for future projects.

· Capitalising upon this proven, fully integrated, working business model, expertise, and the exclusivity of liquid CO2 supply by introducing a fee-paying and profits-sharing service under the commercial model established by the Company for Inniss-Trinity CO2 EOR, is now a practical near-term objective of the Company. Five in-country operators and two international State oil companies have made initial exploratory approaches to assess suitability of CO2 EOR for some of their producing, mature, oil field assets.

· Enhanced Oil Recovery is likely to become a key component of work programme commitments required to extend Incremental Production Service Contracts. The successful CO2 EOR Pilot has demonstrated a practical and potentially more efficient alternative to waterflood and has established the Company as the leading services provider for mobile CO2 injection for enhanced oil recovery. The successful development of the CO2 EOR business in Trinidad allows the business to be valued on the basis of its assets, invested project costs, existing contracts, goodwill and CO2 EOR operational experience."

Quietly hoping that by the time they spud Morocco they'll have built a co2 business worthy of a £30m marketcap so we don't have an issue with downside if the drill disappoints.

Issued them at a decent enough level though (relative to current sp) and great to see them with a revenue stream at last.
Onwards and upwards.

Sure the co' would want a high premium but maybe they could buy prd's EOR business?
From the 20th Jan RNS..
"· CO2 EOR services business strengthened and de-risked as marketable asset"

That was 2019 it was this part showing the potential going forward.

"This is set to be Predator’s first operation and, if successful, could open the door for access to Heritage’s full range of reserves, the largest of any holder of oil and gas resources in Trinidad."

they don't like v o x then but a good read and worthy site imo.
Predator O&G granted access for enhanced oil recovery at Inniss-Trinity
Predator Oil & Gas (PRD)
announced this week that they have received consent from Heritage Petroleum Co., Trinidad’s state-owned oil company, in record time, for their CO2 Enhanced Oil Recovery (EOR) project. The project will take place at the Inniss-Trinity oil field in Trinidad.

The project includes injecting carbon dioxide into wells as part of the company’s enhanced oil recovery mechanisms.

This is set to be Predator’s first operation and, if successful, could open the door for access to Heritage’s full range of reserves, the largest of any holder of oil and gas resources in Trinidad.

The window for the first CO2 gas sales to be delivered to the Inniss-Trinity field site has been extended to the end of April 2019 to “facilitate smooth integration with the operational planning for re-pressurising the reservoirs... using C02 injection.”

A combined scoping production rate of 300 bopd by the end of H1 2019 has been forecast from a pre-pilot reservoir engineering study.

With current WTI oil prices, operations are also forecast to be profitable and generate an average net-back of $10/barrel after taxes, royalties, and other operational costs.

Chief Executive of Predator, Paul Griffiths commented:
“We are pleased to have successfully achieved this important milestone in obtaining conditional approval from Heritage for the C02 EOR Project and are grateful for the support received by Columbus over the past few months in discussions with Heritage.

This will be the first C02 EOR Project for the newly created State entity and its successful execution by Predator may open the door to additional CO2 EOR projects.

Heritage's consent means that this project will have high visibility in Trinidad and internationally and we are excited about the potential opportunities that this may create to enhance our revenue-generating capabilities for our shareholders based on the C02 EOR expertise that the Company is developing."

Sounds very good news for prd going forward. Company making imo.
https://www.**********.co.uk/articles/predator-o-g-granted-access-for-enhanced-oil-recovery-at-inniss-trinity-df4914c/

Taking the 30yr timescale as the beginning of back peddling by the green party. How they going to run their data centres just on windmills.?

"Defending the bill, Green Party leader and Transport Minister Eamon Ryan said it is about showing leadership on climate action and to "not be a laggard as a country".
He said this climate plan will take 30 years and that it will bring opportunities including employment."

Could do with an update from trinidad imo. May get one soon they did state on the 15th of last month that they were going to "Determine increase in incremental oil flow rates over one month of CO2 injection."

re NAFEX. Last yrs quote but all the same ...
"Apart from the official rate, the most prominent Naira exchange rate is the Investors’ and Exporters’ (I&E) rate, otherwise known as the NAFEX Fixing, which serves investors and exporters. One of the most liquid segments of the Nigerian foreign exchange market, it has attracted over US$95billion in inflows since its establishment in April 2017. "

re the management believing lockdown will end and people are going to be allowed out before 2025.
They have no idea. peeps will be locked up in their homes for yrs to come .
https://www.youtube.com/watch?v=pa8DASwQa0s&ab_channel=HugoTalks