The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Https://www.share-talk.com/traders-cafe-with-zak-mir-bulletin-board-heroes-wednesday-21st-june-2023/
For those who follow such things. Golden cross? Next target 15p? News might change that!
Might be wrong, but does this look right for CNG numbers or would it be 75%?
MOU1/MOU2/MOU3 Price Daily earnings Yearly earnings (300 days) Yearly in £
5mmcf $16/mcf $80,000 $24,000,000.00 £18,820,577.16
10mmcf $16/mcf $160,000 $48,000,000.00 £37,641,154.33
15mmcf $16/mcf $240,000 $72,000,000.00 £56,461,731.49
20mmcf $16/mcf $320,000 $96,000,000.00 £75,282,308.66
25mmcf $16/mcf $400,000 $120,000,000.00 £94,102,885.82
50mmcf $16/mcf $800,000 $240,000,000.00 £188,205,771.64
75mmcf $16/mcf $1,200,000 $360,000,000.00 £282,308,657.47
100mmcf $16/mcf $1,600,000 $480,000,000.00 £376,411,543.29
150mmcf $16/mcf $2,400,000 $720,000,000.00 £564,617,314.93
200mmcf $16/mcf $3,200,000 $960,000,000.00 £752,823,086.57
But once you have tested and proved commercial gas, you can forward sell the gas or get reserved based lending etc. Why do a placing before that?
Data centre energy usage still on the up https://www.irishexaminer.com/opinion/ourview/arid-41161807.html
Given the number of historic wells, might be relevant regarding CO2 EOR, but don't know if the geology is suited.
65 historic wells
"Challenger Energy Group PLC
("Challenger Energy" or the "Company")
GUAYAGUAYARE LICENCE - TRINIDAD
Challenger Energy (AIM: CEG), the Caribbean and Americas focused oil and gas company, with a range of oil production, development, appraisal, and exploration assets, is pleased to advise that CEG Goudron Trinidad Limited ("CGTL"), a wholly owned Trinidadian subsidiary, has been notified by the Trinidad and Tobago Ministry of Energy and Energy Industries ("MEEI") that the Government of Trinidad and Tobago has authorized MEEI to enter into negotiations with CGTL for the grant of an Exploration and Production (Public Petroleum Rights) Licence for the Guayaguayare block (the "Licence"), following a successful bid for that Licence by CGTL.
The Guayaguayare block is located onshore in south-east Trinidad. It is one of the largest onshore exploration and production blocks in Trinidad (approximately 306 km2), and is strategically and operationally synergistic with the Company's core Trinidadian production business, in that the Licence wholly encloses the Company's Goudron licence area, and is adjacent to the Company's Trinity-Inniss licence area (refer to the Appendix to this RNS).
The Company considers the Guayaguayare block to be highly prospective, being amongst the largest remaining underexplored / undrained contiguous onshore areas in Trinidad. Additionally, the block contains approximately 65 historic wells, a few of which are active, but most of which are currently shut-in / suspended / abandoned, and many of which the Company believes can be reactivated and serviced from existing operations, thus offering the opportunity for near-term production uplift at minimal incremental cost.
The Company will advise the terms and conditions of the Licence, including the Company's agreed work obligations, on completion of negotiations with MEEI.
Eytan Uliel, Chief Executive Officer of Challenger Energy, said:
"Late last year, we advised of our Trinidad strategic focus, which was to concentrate on the south-east of Trinidad, where we have most of our existing production and operations, and thus a competitive advantage. Recognising the strategic and operational synergies available, we submitted only one bid as part of MEEI's 2022 Onshore and Nearshore Competitive Bid Round, for the Guayaguayare licence - one of the largest available onshore licences in Trinidad, and a block that is fully aligned to our strategy. We are thus extremely pleased to have now been selected by Cabinet as the party with whom MEEI is to negotiate licence terms, and we look forward to working with MEEI on this process. We are enthusiastic about the prospects this block offers for CEG in Trinidad - both in terms of near-term production gains, and long-term exploration upside.""
Yes, not the usual style, but the update to the blog was late yesterday I think, possibly after dinner and nice glass or 2 of Bourdeaux :) ?
In other news, it looks like Trinidad is now on the move again with CEG getting their licence confirmed today? I wonder what they might do if those existing 65 wells have poor natural production?
"Although not having gone totally to plan, at least so far, this well is still the apple of Paul Griffiths’ eye and it certainly looks like it still has the potential it has always carried and the team on the rig seemed to have worked wonders to keep the well.
Indeed it may be that from what we now know it may be an even bigger, if still somewhat risky prospect which is still drilling. And the ‘potential gas migration pathway into the primary target in the MOU-4 structure could be proportionately de-risked’.
Shareholders have a few apprehensive weeks to wait, although it is a state of affairs that they will be accustomed to and I hope that this is a successful, if ultimately complicated campaign. "
https://www.malcysblog.com/2023/06/oil-price-sound-pharos-iog-touchstonetrinity-angus-predator-sdx-reabold-and-finally/
Has Lonny just tweeted pictures of the groundworks commencing?
https://twitter.com/lonny1971/status/1668498867623456770
Guilty.
This won't be unique to France, will it....?
https://www.ft.com/content/a3be0c1a-15df-4970-810a-8b958608ca0f
I think we are all forgetting that ironically Jonathan Swift's quote applies equally to Nigel's position!
At least in Morocco there is some, which is important. In contrast see the update from IOG today.
Actually, credit to FabPhil for this one, not me.
Minister Ryan interview23 May 2023 21:36
“Energy security review in the coming weeks”
Interesting interview below with Minister Ryan giving his typical mumbling responses. But strangely enough some sounded quite promising.
From around 1:10
Minister Ryan talks about Barryroe decision
“project not meeting conditions of the licensing agreement”
From 1:12 talks about LNG
“There are climate limits to what we do
Careful we don’t see a massive expansion in the use of gas to met immediate needs and leave stranded assets
We will look at a non commercial more strategic approach. “
“It will not be a commercial, big expansion, use of gas to meet developers needs and not to meet our climate and security needs”
But he does seem to acknowledge that there will be a need for gas in the next 10-30 years.
https://link.goloudplayer.com/s/pG2CJyWeK03p
2 weeks ago in a radio interview (I put the link on here). Mr Ryan said an announcement would be in the coming weeks...
Agree Keith, clearly not an agnostic expert, but one who favours Mr Ryan's political agenda.
My brain is fuzzy, but Paul has tried to cover the idea of gas storage underground using Ram Head(?), but I forget the details.
Now the debate has happened, we might see an announcement on energy security in the next couple of weeks...
Not sure how much credibility an "expert" has how says Ireland should possibly avoid having it's own LNG facility, as it could still be attacked, but it's okay to rely on Europes extra LNG capacity. Anyway, this quote was the most insightful:
"Mr Molnar said an FSRU would provide greater flexibility in terms of moving it on if no longer needed, but a better option would be a facility that could be repurposed to use biomethane or hydrogen in future."
https://www.independent.ie/irish-news/energy-experts-warn-against-relying-on-lng-facility-for-gas-security/a2136112029.html
Does this mean an even better option is indigenous gas that makes use of existing infrasture!!?
Circa 240 plus end customers are showing interest (mentioned at proactive presentation if my memory serves).
"Continued dependency on coal use as a result of unavailability of sufficient gas-fired generation, recent geopolitical events and the slow implementation of renewable electricity targets has undone some of the good work of recent years."
https://www.epa.ie/news-releases/news-releases-2023/ireland-projected-to-fall-well-short-of-climate-targets-says-epa.php