Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Bit of a meh rns but good to get another start date for testing mou1. Clearly the market still wants results so a 20mmcfgd flow would be a good positive start.
Why mou 1 good not have been tested years ago I still don't get we could have been much further down the line to gas sales and less dilution. The muted cost savings just are not their between testing little now or two years ago
If CEG struggled to make money in Trinidad I can't see Paul and Lonny all making millions quickly of a few well workovers. What if it was left festering because it simply is not that good acreage.
SDX can drill and test a well in less than 30 months why can't PRD . Is the regulatory issue fully resolved yet ....we just don't know
Trouble with investing in he1 now is yes drilling has started now and if you buy in an rns could drop tomorrow saying the knackered drill they bought has broken down again. At that point you money is gone and so is he1
They really need to give share holders a start date for testing now the silence is ridiculous. I'm starting to think the reason for reduced testing after the panic to raise for a substantial testing program is now a financial reason. I don't think they will even test mou1 if they ever get started. IMHO
Testing is key here prove you have a good flow of gas from a new basin the sp re-rates you can raise funds at a higher price fir example to drill the jurassic the business can move forward with cng. The funds have been raised to test what is with the reluctance?
Trinidad is a distraction if its such good acerage and all a takes is 4 cheap well work overs a company as desperate as CEG would have done it.
TEST
To be fair the company announced they where skint before they had organised funding holders had their chance to cut their losses. Said it before but buying after that or atleast until funding is announced is just madness. I believe in averaging up