Member Info for Proselenes

Alexios..........

You are forgetting........much of the well costs are paid in advance. They don't drill the hole and then pay all at the end.

The 16m at half year end already included a lot of the costs for RD and H-1 and G-1 having been paid already.

7.5m US$ left cash year end for sure........imo........ask Mike on the 12th Nov.

Cash forecast:

Based on my figures, which include a slight overrun of Heron-1 due to the G2G permit issue and then the cancellation of Velociraptor MATD will have net cash left on Dec 31st 2019 of 7.5m US$

Perhaps someone can ask Mike that on 12th November.

Production start up requires a couple of hundred thousand dollars only, just some facilities and storage tanks - everything else is there already.

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I think they have been clear.

Block XX is the focus of 2020.

If they can do a quick bore hole on Block V, they might, but the focus is the development of Block XX and get into, and increasing, production.

Looking at the potential news flow ahead :

Operational Update - completion of all testing operations at Heron-1 - (possible)

Block XX update - reserves and prospects - submission of documents to MRPAM for Exploitation License (probable)

Award of Exploitation License for Block XX (probable) (Dec 2019 or Jan 2020)

Once the Exploitation License is awarded then MATD have something with which to secure a Farm Out or Bank Loan so farm out/loan update Jan/Feb 2020

Post Exploitation License award - Ops Update Production start up progress (probable early 2020)

Production started Operations Update (early 2020)

Oiler87 is struggling to push his lies against the facts.

DST1 was tight - this was expected - and as per the RNS, they expect stimulation to get it to flow. However, currently no need as DST2 flowed at 821bopd without frac stimulation and without artificial lift.

They choked it back to 200bopd to do the pressure tests. Also they could not handle a higher rate of oil at surface. No facilities to take it off.

The pressure tests can be done at 200bopd fine.

821bopd with no artificial lift.....means........INFOW in the well is higher than 821bopd. As per the RNS if they decide to install a pump, they may well be able to flow this at a higher rate that 821bopd in production.

All will become clear in due course.

Poor Oiler87........nobody left to scare into selling now.........sells dried up, weak holders are out.....and now the buyers will take over and the price will rise.........and as this happens Oiler87 will get more desperate and lie more........

LOL

There will be no placing.............. i am waiting for December to hammer all these posters who says there will be one......when there is not.....they will be hammered for their lies :)

12th November event in London for those who want to attend.

https://www.eventbrite.co.uk/e/oil-gas-investor-briefing-speakers-from-petro-matad-nostra-terra-eco-atlantic-coro-energy-tickets-77838684601

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Looks like a transcript of the TV interview.

https://www.inews.mn/a/10477

Basic points again.....

Gazelle still very much in play, thought to be drilled on the edge of the Strat Trap and so expecting much thicker pay in alternate location.

Heron-1 - no water produced at all, very much thinking that its bigger than 25 MMBO recoverable pre drill estimates. This man seems to think the lack of any water means much bigger........ Mike has not said that yet, he refers only to the very conservative 15% recovery factor used pre-drill. Maybe he is saving the water/size upgrades for the presentations to come........

Taking shares at 56.85p a share instead of cash............ does that not say just how good things look. They think 56.85p is cheap per share...............

12th November event in London for those who want to attend.

https://www.eventbrite.co.uk/e/oil-gas-investor-briefing-with-ceos-from-eco-atlantic-coro-energy-tickets-77838684601

MATD headlining, also ECO and CORO

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New video interview following the Serenity Oil Strike

https://www.proactiveinvestors.co.uk/companies/news/905864/i3-energy-team-discuss-transformational-discovery-at-serenity-905864.html

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Link below :

https://i3.energy/wp-content/uploads/2019/10/20191029-i3-LIBERATOR-UPDATE-vF.pdf

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I remember laughing at people selling JOG at 80p and 90p.......scrambling to sell on the news.

And so it was they lost loads of profit.

MM's will play this, make it hard to sell, make people panic into selling as they cannot sell.......and when they are all taken out, they will rise the price.

Just remember, when the recent JOG news come at 60p elvels.........people were selling hard at 80p and 90p and then the share price went upwards to 230p.......

Some people have no clue and sell straight away and miss out on the really big gains.........

Better go post that on the ECO thread.......... LOL

RRE have to talk to I3E now, as TAIN is likely connected......... :) RRE to farm in ?? :)

Thanks to che7win

To sum up....

Serenity hits oil, as big as expected.
Now RRE with Tain will have to talk to us.

Liberator missed first well location by 120m.
They now think Liberator twice as big as before.

WHI says Serenity worth 268p.
Liberator potential now twice as big as before L2 drilled too.

Upside must be between 3 to 5 pounds.

Market cap at 28p was just 26 million.

Should be at least 200 million market cap now.........thats around a 200p share price. Really, dont sell yourselves short here, this is massive.

Was a 26M market cap.

Should be at least 250M market cap now........thats a lot of upside.

Look around at others - UKOG is around 80M for a puddle.

I3E is going up a lot......get that market cap to at least 200M asap.

Read that......get very excited about it......

............. We will now integrate data from the 13/23c-10 well into our geological modelling as we develop an appraisal and development plan for Serenity, which we believe is connected to the undeveloped Tain oilfield. ..................

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Here is the RNS link if you need it:

https://www.investegate.co.uk/i3-energy-plc--i3e-/rns/serenity-oil-discovery-and-corporate-update/201910290700074394R/

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