Member Info for RCMPMounties

.21p pretty much gone now !

Hi guys, this one has certainly been a tough ride. Bought another chunk at 1.875p, I wonder if the silence so far has been because we are about to get a cash injection from a JV partner with a JV announcement?

Either way, I believe the GGS is going well, the JV party(s) will know this and this puts Canadian Overseas in a position of strength. GLA!!

REUTERS

Energy giants place tentative bets on oil finds in 'wildcat' Uruguay

By Lucinda Elliott

September 19, 20239:02 AM GMT+1

Updated 2 days ago

Britain-based Challenger Energy was awarded two of the seven licenses in Uruguay, following unsuccessful exploration projects in the Bahamas and Trinidad and Tobago.

Challenger CEO Eytan Uliel told Reuters from London that Uruguay's government was "extremely committed and supportive," though cautioned things were "in the early stages." The Namibia finds, though, had raised the chances that oil could be found, he said.

The next step is to evaluate the areas by reviewing the seismic data so far collected to establish well locations. Drilling could begin as soon as 2026, Challenger has said.

"We have kilometers of seismic data, dating back to the 1970s. Using modern technology, we can create a different picture of what is there," Uliel added.

He bought another 60 million just a few weeks ago. Now holds well over 600 million shares or more than 6% of the entire shares in issue!

Https://www.marketscreener.com/quote/commodity/WTI-2355639/news/Energy-giants-place-tentative-bets-on-oil-finds-in-wildcat-Uruguay-44873686/?utm_source=copy&utm_medium=social&utm_campaign=share

MONTEVIDEO, Sept 19 (Reuters) - "Uruguay state-run energy firm Ancap is set to agree to final terms for a record number of seven offshore exploration licenses next month, a senior executive told Reuters, as the frontier market lures bets from global players like Shell."

Https://pemedianetwork.com/petroleum-economist/articles/upstream/2023/uruguay-focused-independent-working-on-farm-in-deal

14th September 2023

Uruguay-focused independent upbeat on farm-in deal

AIM-listed Challenger is seeking partners to help develop it's licenses off the coast of Uruguay.

Challenger began the formal farm-out process for it's OFF-1 licence in June, CEO Eytan Uliel told Petroleum Economist.

The process is "going well" and has attracted a large number of interested parties, he continued, noting that the independent is keen to reach a farm-in deal by year end and is "reasonably optimistic" of achieving that goal.....

My understanding is that the majors did not bid for the remaining block OFF-3 purely because of the licensing rules in Uruguay?

And with the fact Challenger had previously been awarded block OFF-1, pre qualified them to bid for it. Seems a lot of pain and suffering from long term shareholders here, hopefully one day in the not too distant future that may change? GLA

Can't see any reason why a farm out won't happen here and soon, especially with the focus by the majors on neighbouring blocks right now

I think the penny is finally dropping here with just how undervalued this now is. Even Louis10 is speechless - for now !

Don't forget Mangrove will have to BUY back the remaining shares they were still shorting, which would cause a surge. I reckon they will finally be out by close today!

"You're wrong of course: PANR's inevitable end price is zero."

The company are targeting $5-$10 a barrel of oil over their entire 1.5 - 2Bn recoverable barrels from aphun and kodiak and you come out with a comment like that.

You've really lost the plot Louis10!

Louis10 just clear off, admit you were wrong by a country mile as Macadder alluded to and go and troll other boards to massage that ego of yours cos you ain't going to win the argument here, that's for sure!

Lining up to be a decent blue day today!

"We continue to be very encouraged by progress by our northern neighbour, Pantheon Resources, who recently announced a material, independently estimated, 2C contingent resource for the Lower Basin Floor Fan reservoir.3"

Louis10 the more I hear you go on here the more I'm convinced you don't know what the hell you're talking about!

This is very true Macadder

It's probably also true to say Louis10 isn't a believer - yet haha

Nice one, thanks for sharing Ezzz.....

Scope:

"Great Bear Pantheon, LLC (Great Bear) is seeking authorization to re-enter and test the Alkaid 2

Well located in the Alkaid Unit (AKU). The project activity will include mobilizing a drill rig to the site, re-entering the well, creating a small frac in the vertical section of the well, and performing a production test. All operations will be conducted on the existing Alkaid 2 Pad.

Water will be sourced from the nearby Annie Pit and trucked to the site, however other currently

permitted waterbodies near the drill site may be used if necessary. Waste will be stored onsite in

appropriate receptacles until it can be transported to an approved disposal facility on the North Slope. Some burnable waste may be incinerated on site. Produced fluids will be temporarily stored onsite; oil will be trucked to a Prudhoe Bay Unit (PBU) production facility for sale, other produced water and associated fluids will be taken to a PBU Grind and Inject facility. The project is anticipated to begin mid-September 2023 and end mid-October 2023."

"Plan activities include:

 Re-enter Alkaid 2 well and conduct production test."

Well well olderwiser, looks like Oilman Jim is well and truly busted there - great detective work!

I also read somewhere on here that Louis10 IS Oilman Jim, if that's the case well well Louis it's all starting to make sense now.

I have had the unfortunate experience of reading some of OJ's blogs and I find him pretty arrogant and agenda driven to say the least. That said I'm not surprised he blocks people that question him.

Looking forward to next week here!!

"You're right people don't like to admit they're wrong and lose a lot of money as a result."

Yes Louis10 it is indeed a shame and part and parcel of a narcissist like you that you don't admit you were wrong and lose money as a result.

Because while you were touting 5p when this was flitting between 10-11p for a while, I was busy like quite a few others either buying in or averaging down and I've now doubled my money.

You were so fixated on the bust case here that ya missed out, and still ya can't help yourself.

But yes losing money seems to be a problem for you Louis10 haha

Popcorn at the ready - absolutely loving the sheer desperation of Louis10 who is quite obviously bricking it right now haha.

Can't even have the weekend off I see, while most of us are enjoying the nice weather and have a life you can guarantee Louis10 doesn't disappoint providing entertainment at their expense.

Louis the loser probably a bit bitter having missed out on the initial rise from 11p to 25p :))