Member Info for Proselenes

And might you expect that they are testing the water for a fund raising ?

Release the CPR and then do a placing for Namibia ? Might be why in London next week chap..........prep work for a placing.

I would expect 60p before too long.............

Jethro is likely worth nothing.

Sulfur level too high and API too low. Not viable to extract given its offshore. If Jethro was onshore then yes, possible low profit margin development. Offshore....... imo.........No Chance. Will be left as a stranded discovery.

Exactly Jimarillo - I suspect TLW want to hold off any more Guyana wildcat drilling until they carry out a big fund raise - and they will use Guyana as the carrot to get donkeys to buy in. Late 2020 or early 2021 is most peoples guess for a TLW fund raise, so drilling 2021 at the earliest it seems.

Trouble with many PI's is they fall in love with shares, refuse to take a 20% loss, then end up sitting on a 60% loss for years.

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Closed at 1.3p in Oz.

Should be a blue day ahead in London.

Phoebus is completely correct.

For a company like TLW in their current position you concentrate on increasing production and efficiencies - you dont go ****ing money away on Wildcatting. They committed to Peru and Suriname in 2020 and so have to drill them - but plan nothing else.
Something like Guyana for TLW offers the carrot to the donkeys - something to propose to new investors in a big placing that likely to happen end 2020 or early 2021. The old, we need to raise 800 million but as part of that we will be drilling 3 wells in 2021 on these exciting Guyana prospects.........here is the carrot, come on, stump up some cash in a discounted placing please.

If they drill the option well and have a duster - they have just lost a big carrot to sell placing shares. Therefore I expect TLW to have a large fund raising late 2020 or early 2021 and then commit to drilling in Guyana. Until then expect them to just process the data.......come up with exciting leads to help sell that fund raising I expect them to do.

Lol...yes

ASX price is back up to 0.24 AUD which is 1.3p.

If the 88E ASX price closes 0.24/0.25 then London will have a blue day today to catch up.

Wow........please write it properly.

The CPR might suggest POTENTIALLY 3 billion barrels in the Cretaceous........or maybe nothing, or maybe something. It will not say there is.........will just highlight the potential that there might be or might not.

Mind you....... BPC also has billions of barrels of potential oil in the Bahamas............ potential is just that, its meaningless unless its supported with discoveries in the actual license area.

For TLW Guyana is probably more valuable not drilled - than drilled. If they drill and fail, like finding just 4m net pay at Carapa........then it loses its value. If its not drilled and just potential - then they can use this to raise money against when they most likely do a big fund raising end of 2020 or early 2021.

Part of their fund raising paperwork will say..........raising funds to drill exciting prospects in Guyana........... carrot for the donkeys.

Thats why I feel TLW will not drill in Guyana until 2021 - after they do a big fund raise.

Name me an OFFSHORE field producing 11 API and 5% Sulfur.......

OFFSHORE you would have to drill so many wells and incur so much cost - its just not viable as an economic investment.

Nowhere have TLW said they might not drill Suriname. TLW have said 2 confirmed drills for 2020.... Peru and Suriname.

Show me an RNS where TLW say they might move things around................not BS posted on bulletin boards.... RNS from TLW please.

So this tells us that TLW - who are the operator and will decide the future plan - are intending to discuss at the upcoming meeting the option of 1 well in Guyana in Q4 2020. The meeting will discuss whether to go ahead with 1 well in Q4 2020 and which target to drill.

However most likely to save money they will push drilling to 2021 and drill 2 or 3. We shall see in due course when TLW decide the next Guyana steps as operator - and which ECO have to follow as a minority holder.

Also note the TLW presentation confirms explo drilling for 2020, confirmed, is as I said. Peru 1 well and Suriname 1 well.

https://www.tullowoil.com/Media/docs/default-source/3_investors/tullow-oil-plc_overview-presentation_Jan-2020.pdf

They put just 1 option well for Guyana - in Q4 2020 - which will mean most likely its 2021 at the earliest.
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Finally TLW admit what some of us were saying for a long time - in their latest presentation.

circa 5% Sulfur and circa 11 API.

https://i.ibb.co/zFkTFC5/TLW.jpg

Now then, can you point me to OFFSHORE oil fields producing 11API and 5% Sulfur and also where the demand for this Super Heavy and Super Sulfur content oil is coming from ?????

Target price raised to 1 CAD

https://i.ibb.co/hmLfbdg/8.jpg

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If its unsolicited then it should be 0.24 AUD minimum....... 1.25p

But I still reckon 1.2p

Yes, 120m added for initial oil discovery. They will go back and sidetrack and flow test it - which will add a load more.

Should 88E strike net oil pay, it will be moving north very fast. The upside for 88E in percentage terms in massive. This OSH news adds more confirmations to the understandings of the geology.

OSH news really is very positive for Charlie-1 Torok targets, those main Stellar ones.

When you see the news from OSH (Oil Search Limited) - this is another big positive for 88E. The discovery news today from ASX:OSH may be driving some of the 88E buying.

Consider.......The Torok is viewed as analogous to the Nanushuk discoveries to the northwest (including the Horseshoe discovery), with the Torok and the Nanushuk part of the same depositional system. As such, the Nanushuk and the Torok have the same sediment source and environmental conditions, with the Nanushuk on the shallower shelf edge and the Torok in the deeper channels and fans. The Torok at Charlie-1 is likely to have the same rock properties as the Nanushuk, with a similar porosity, but with lighter oil due to its proximity to the HRZ source rock.......

Now the news today from OSH is, hit oil pay in the Nanushuk :

https://www.asx.com.au/asxpdf/20200122/pdf/44dfwdfy9q4v36.pdf

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Given the way the price is playing today, looks like 0.23 AUD to 0.24 AUD might be the price (which is 1.2p to 1.25p).

They should be aiming for at least 0.23 AUD imo.

Well.......we all know the price of the placing really is irrelevant in the big scheme.

But if its 1.25p and people are selling at 1.15p and 1.2p........then for sure someone will be buying up all those sold shares. Might not even be a placing.............company has said so in the RNS just released. No price, no terms agreed, not even sure if there will be one or not.