Member Info for Renndava

Drill results will be followed by CPR so there is two relatively near term catalysts. Then bringing paradox production online will be another major milestone. As the guys say we may well be bought out by then though.

Tommo, on the sale Ravenswood. would all of that £105m still be outstanding or has this partly been received already? Relatively new to this share so wasn't aware of this sale.

After 👍🏻

Helpful - Can you break down that $19.6M direct costs please?

Being a resource exploration company it is pretty obvious that the share price is and should be directionally proportionate to proven resources. Yes there will be peaks and troughs driven by general market conditions/investor appetite but the key thing for such a company is to first prove the resource of its key asset. Only then can you monetise it.

That is exactly what the board has done with some unfortunate and potentially company ending issues with the blowout. They deserve a lot of praise and it seems clear now they are moving with “urgency” to monetise what they have “proven” up.

The CPR should make for some fantastic reading and will be getting some serious attention in the states I think. Large , untapped, scaleable plays like this are few and far between in the states now so lets hope they get a cracking deal for all.

Can you elaborate what you mean on the shorter please? Not sure i follow with regards to the panic causing it to go down etc?

Regarding the flare - i wouldn't be reading anything into how bright it is. We already know from the initial test that there is a correlation between Gas rates to fluid rates so if anything less gas being flared could actually be a positive from what Colin said about the first set of tests. Either way good to see the well is still under test which would imply a continuous test over the past few days. Fingers crossed.

I know what you you are talking about Adon ;-). Very good indeed.

Couldnt agree more Art - pretty poor from proactive it seems

Poiu - i beg to differ. looks a pretty tight ship so far. Initial rates have been known by the company since last Monday. I think its more telling that they have posted videos of the flaring etc ;-)

DJ - i agree. when it breaks that resistance there is a big gap to fill up to 220p. Its looking very good.

There also needs to be fluid handling tanks installed, separators etc before 36-2R could be brought online so just need to bear that in mind. I'm sure management will have a plan progressed for all of this to ensure it is brought online as soon as possible. Q4 24/Q1 25 is probably realistic for this.

Will this not just be the rig mobilising to selene?

Adon, I wonder if MESA production equipment will be used as a mobile/temporary option to get the well online? Rather than do anything with the gas processing plant just yet?

Cruikey - am i right in saying you worked in well testing?

We have known for a long time it wasnt an oil well so a strange time to be posting that.

That's more pertinent to horizontal wells Bill so dont think that is the case here being a natural fracture. also not sure why you think the funding would be an issue? Its all in place if the workover rig is there which it is. Expect we'll have some news by the end of the week.

Adon, the well logs from 16-2 were available for a period on the UTAH gov site. They obviously shouldn't have been but it looked very encouraging in the overlying reservoirs. Lots of Helium shows in the upper layers too.

All good points adon but surely they will use either 28-11 or 16-2(depending on when they get it online) to go for the overlying reservoirs? cheaper drilling costs as laterals from a well bore already there and 36-2 which is hopefully the big producer stays online while they drill away at another pad?

I'm just interested in how you are quantifying this as the last chance saloon? The company isnt going to go bust if this well isn't a success so a bit of a silly comment.