Sound Energy #SOU provides an update on a potential farm-in and operational progress in Morocco Watch Now
Virtual Meeting to be Held on September 9, 2020
Calgary, Alberta and Houston, Texas--(Newsfile Corp. - August 4, 2020) - PetroTal Corp. (TSXV: TAL) (AIM: PTAL) ("PetroTal" or the "Company") is pleased to announce that a management information circular (the "Circular") and other materials in respect of its annual general and special meeting (the "Meeting") of holders ("Shareholders") of its common shares ("Shares") have been filed on the Company's profile on SEDAR at www.sedar.com. The Meeting will be held solely by means of remote communication by webcast at http://www.gowebcasting.com/10771 and by telephone at Canada/USA Toll Free: 1-800-319-4610 International Toll: +1-604-638-5340 on September 9, 2020 at 10:00 a.m. (Calgary time).
At the Meeting, Shareholders will be asked to consider for approval, among other things, a resolution authorizing the Board of Directors, at its discretion, to proceed with a potential consolidation of the Shares on the basis of a ratio of between four and eight pre-consolidation Shares for each one post-consolidation Share (the "Consolidation").
The Consolidation is subject to approval of the TSX Venture Exchange (the "TSXV") and Shareholders at the Meeting. If these approvals are received and the Board of Directors determines to proceed, the Consolidation will occur at a time determined by the Board and announced by a press release of the Company. The Company believes that the Consolidation, if implemented, will promote increased liquidity and reduced volatility in the trading of the Shares.
The Company currently has 814,555,701 issued and outstanding Shares. In the event that the Consolidation is completed, for example, on a four for one basis, the Company would have approximately 203,638,925 Shares outstanding following the Consolidation. In addition, the exercise price and number of Shares issuable upon the exercise of any convertible securities would be proportionally adjusted upon the implementation of the Consolidation.
Further details on the reasoning for the Consolidation and the other matters to be considered at the Meeting are contained in the Circular.
Full steam ahead on oil exploration and development now.
Guyana Swears In New Leader, Resolving Struggle Over Oil Wealth
Mohamed Irfaan Ali will manage the flow of billions in new oil revenues, which are reshaping the small South American country and heig.............
Excellent news.......Guyana election result declared. All those threat of sanctions against Guyana and delays all gone, everything can move forward now for the country.
PIRI have been a seller of ECO recently, they are nearly sold out now.
RNS Number : 6777U
Pires Investments PLC
31 July 2020
.......During the period, the Company's residual holding in Eco (Atlantic Oil & Gas) Limited ("Eco"), which has now been substantially disposed of, reduced in value compared to the significant profits realised in previous periods........
Well that is quite useless......... RNS about new presentation on website, which is currently not on the website.
Someone needs a slap, wake up, get the new presentation on the website before you go saying its there...........
Not only more success Guyana next door to ECO, but now more success Suriname next door to Guyana.
ECO Cretaceous targets just get more and more attractive.
HOUSTON, July 29, 2020 (GLOBE NEWSWIRE) -- Apache Corporation (Nasdaq: APA) and Total S.A. (NYSE: TOT) today announced a major oil discovery at the Kwaskwasi-1 well drilled offshore Suriname in Block 58. The well was drilled using the Noble Sam Croft with Apache as operator holding a 50% working interest and Total holding a 50% working interest.
Kwaskwasi-1 was drilled to a depth of approximately 6,645 meters (21,800 feet) and successfully tested for the presence of hydrocarbons in multiple stacked targets in the upper Cretaceous-aged Campanian and Santonian intervals.
Preliminary fluid samples and test results indicate at least 278 meters (912 feet) of net oil and volatile..................
I did not post during trading hours out of respect for the poor souls still holding as it would have ****ed them off. So I am writing this out of market hours.
My take is that :
ESP has to be used on 7. 7 is now acting as the water drain to try to stop the water (or restrict the coning as much as possible) getting up and into 6 too much. ESP needed as water cut so high its slugging.
However, water cut on 6 is still rising.
7 is done, its now in terminal decline.
6 has likely a few months of natural flow left before water cut increases so much that it slugs as well and ESP has to be turned on.
Most likely scenario in 6 months time well 6 is on ESP and producing perhaps 5000 bopd and well 7 is on ESP and producing maybe 2000 bopd - total water cut very high - both wells deteriorating. Water cut continues up and oil produced goes down rapidly.
Thats the most likely situation here imo - and why the sellers and still selling as much as they can. I would expect the big boys to continue offloading and selling as much stock as they can in the weeks and months ahead - while asking their broker mates to keep writing rose tinted specs potential happy ending scenarios to suck people into buying their sells.
And that is my opinion - and if you dont like it - ignore it.
Last post from me on HUR until the next RNS is released.
As a tiddler I would suggest looking at PRD ( Predator Oil and Gas ). Its sub 10M market cap, but main market listed, not AIM.
Got an ongoing CO2 EOR business in Trinidad (soon to expand) and also LNG plans for Ireland. Its the Gretha Thunberg of oil and gas stocks.......very green.
However, the big thing on the horizon is Morocco gas drill, targeting nearly 500 BCF of recoverable gas (which is said to be going to be upgraded with a new estimate and presentation in a couple of weeks time). As you can imagine, for a sub 10M market cap company, hitting 500 BCF recoverable would be major multibagger.
Spud of the gas well should be around November (depending on when lock down is lifted) - and I would guess the SP will double or more from the current level into spud......taking it up to say 20M market cap. Certainly a tiddler to look at imo.
There is a moderated board on PRD at ADVFN.
You wont get nutters and trolls on that thread if you want a decent place to discuss PRD.
Alaskan Exploration: A Partner for Pantheon
Analysis of recently completed geophysical work points to an estimated 1.8 Bbbl of oil in place at Pantheon’s Talitha project on Alaska’s North Slope. But in the midst of an oil price collapse, will anyone join them to dance?
Wed, 07/22/2020 - 04:30 AM
Unlike some oil and gas companies deciding whether to shut in wells as prices remain at historic lows, Pantheon Resources Plc is facing a different task: finding a partner to develop its Alaskan North Slope assets amid a global pandemic.
“It’s a difficult dance,” said Bob Rosenthal, chief technical director for Pantheon.
Travel restrictions have prevent.......................
Very interesting news all round.
New opportunities in Trinidad and onshore Guyana.
ConocoPhillips now moved in next door to the Morocco license of PRD. Thats quite big news and a big tick in the box for the upcoming drill.
Details of the proposed acquisition of FRAM.
One wonders if the recent weakness was an expectation of dilution to fund the acquisition, but now it is clear that there would have been no dilution to fund it.
Good update all round. I like it.
Interview with Kevin the former T&T energy minister about the TXP discovery and the energy sector