The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Just look at the map. Note the Io-Jansz field top right.
https://www.westerngas.com.au/sites/default/files/Equus%20Overview%20-%20Regional%203.8.jpg
I believe the the Jansz-Io field is Australia's largest gas field.
'The Jansz-Io field is a part of the Gorgon Project which is one of the world's largest natural gas developments.'
'The Gorgon and Jansz-Io gas fields are estimated to together hold more than 40 trillion cubic feet (tcf) of gas and are expected to have a production life of at least 40 years. The total production capacity of the fields is estimated to be approximately 2.6 billion cubic feet (bcf) of natural gas and 20,000 barrels of condensate a day.'
https://www.offshore-technology.com/projects/jansz-io-gas-field/
This is a remarkable drill for CLON to get exposure to.
The RNS states, 'The Sasanof Prospect covers an area of up to 400 km2 and is estimated by ERCE to contain a P50 Prospective Resource of 7.2 Tcf of gas and 176 MMbbls of condensate (P50 recoverable) with a 32% Chance of Success ("CoS") (as per ERCE independent report).'
7.2 TCF = 7,200 BCF (gas in billions of cubic feet)
7,200 BCF / 6 = 1,200 MMBOE (gas as millions of barrels of oil equivalent)
1,200 MMBOE + 176 MMBC (millions of barrels of condensate) = 1,376 MMBOE (millions of barrels of oil equivalent)
CLON has 10% of this so 137.6 million barrels of oil equivalent. At £10.7M market cap CLON is currently only on a valuation of 7.8p per barrel of oil equivalent, which looks unbelievably cheap for an imminent drill, particularly in such a successful area and safe jurisdiction. This has the makings of a monster move. GLA
This is a gigantic deal for CLON. I've been desperate to get exposure to this drill since I first heard about it last year, but was unable to as the only investment pathway was via the ASX and there are almost no UK brokers that offer that market. Problem no more. Drill is 137.6 MMBOE net to CLON! At $5.BOE that would equate to £561M net to CLON in the success case! Truly astonishing. Look at all the gas discoveries around the drill location on the PDF map. This could be stock of the year.
I forget where I read it now. It's something to do with election to enter the next exploration phase which I think is due in Q3 shortly after the Beebei result. The phase begins 2023-01-14. Can anyone recall the details?
Rionel, here's a map for you. I've plotted the location of Beebei Potaro-1 based on coordinates from Notice to Mariners. You can see that the well is considerably further inshore from the main trend of Cretaceous discoveries on Stabroek than ECO's own Cretaceous targets. I've also marked Carapa on the map, which although only modest, proves that there are Cretaceous oil fields up dip as well down dip of our Orinduik Cretaceous targets.
https://i.ibb.co/M51yLZN/Beebei-Potaro-1.jpg
Guyana.
That said, what's the problem with the share price. Every single time it goes up it rises rapidly and then fizzles out almost immediately and the SP grinds relentlessly lower for ages. It's happened again and again. Same in 2020 and 2021. The chart looks like a saw. Just can't hold its gain. Is there a massive overhang or something? Are they distributing stock ahead of you know what? This really is one frustrating share. GLA
COVE was Tanzania and Mozambique. Tanzania gas prices are very low with AEX getting around $3.00 per MMBTU. The situation Mozambique is likely similar. Crown is in the UK where gas prices are WAY higher. Current UK forward curve over the next 12 months is $20.5-32.2 per MMBTU. HUGE difference.
https://www.cmegroup.com/trading/energy/natural-gas/uk-nbp-natural-gas-usd-mmbtu-icis-heren-front-month_overview.html
Indeed. I think a lot of people will be shocked at the excellent grades and tiny market cap when this finally hits the limelight. SP could explode.
Indeed. I think a lot of people will be shocked at the excellent grades and tiny market cap when this finally hits the limelight. SP could explode.
'Repsol will lease the Noble Regina Allen jack-up drilling rig from Noble Corporation to drill the Beebei-1 well in June 2022.'
https://www.repsol.com/content/dam/repsol-corporate/en_gb/accionistas-e-inversores/cnmv/2022/ori28042022-q1-2022-results.pdf
Kanuku shares 3 licence partners with Orinduik. Drill target selection should be soon after results.
'Repsol will lease the Noble Regina Allen jack-up drilling rig from Noble Corporation to drill the Beebei-1 well in June 2022.'
https://www.repsol.com/content/dam/repsol-corporate/en_gb/accionistas-e-inversores/cnmv/2022/ori28042022-q1-2022-results.pdf
Kanuku shares 3 licence partners with Orinduik. Drill target selection should be soon after results.
That would be great. You'd think there would be plenty of interest in light of recent developments. Additionally, Gazania is very close to shore and in relatively shallow water making it even more attractive. The Ibhubesi gas condensate field only a few km from Gazania has 94.3 MMBOE 2P. Gazania-1 dwarfs that.
That would be great. You'd think there would be plenty of interest in light of recent developments. Additionally, Gazania is very close to shore and in relatively shallow water making it even more attractive. The Ibhubesi gas condensate field only a few km from Gazania has 94.3 MMBOE 2P. Gazania-1 dwarfs that.
The funding required for MOU-4 and 5 is minuscule as I have already pointed out. The most recent broker note indicated $5-6M is all that is required. That's peanuts. The correct time for them to do it should be either just before or just after the MOU-1 flow test when the SP increases. The current SP malaise does not make sense in that regard.