Member Info for Renndava

Looking like it wants go on a run now👀

It would appear funding news is imminent given share price action?

Brent heading into the $90s! Next stop $93…..

Indeed. They have done well to come through this with minimal share dilution. Could have easily folded the company too in lesser hands. Lets hope it coincides with a much more optimistic market too.

It is expected to take 4 - 6 weeks id say. The previous drill was hampered by extremely cold weather(snow), equipment breakdowns and then the unexpected influx of high pressure hydrocarbon which took them a bit of time to get under control. They then decided to drill a bit deeper so these were all things that added additional time.

H&P will have a lot of detail from the previous drill so should be much more efficient.

Nice spot on the tank battery Adon. Will that be sited at the well pad or the processing plant?

Adon,

Is that just your take or has that come from comms with the company?

Oil price looking very firm and expect it to increase through 2024.

Risky - id say 36-2 will come online before 16-2. SP would be a complete guestimate right now considering 36-2R still needs testing but there clearly isn't much value assigned to SP for the paradox basin. I feel that the CPR post testing of 36-2R could see a material shift in the SP. It may also see a partner come in to accelerate the development. Just my thoughts.

Molatov - its a double edged sword. Higher pressure usually means higher flowrate but 9800psi is still pretty substantial and i think the company share that sentiment

Elland, the brokers have confirmed that there is a solution ready to test on 16-2 and that will take place after 36-2R apparently.

36-2 was 9800psi downhole. Nothing too crazy and manageable when expected 👍🏻

No chance its doing 5000 bopd. 1500 would be very good

Value will come out on results & a CPR post testing imho. I suspect we are seeing a bit of market correction given anticipated interest rate cuts too.

HBR & SQZ down today and we’re up? Mind boggling at times this share lol

They will definitely be H&P crewed 👍🏻. They are also going for a more conventional drilling technique as i understand it. Wonder if they will be looking to do a horizontal section too?

Https://www.energyvoice.com/oilandgas/north-sea/548324/ccs-hub-magnus-platform-could-be-powered-by-geothermal-study/

Interesting comment here….loads of gas to come online in Malaysia. From 50mcf/d to 300mcf/d

https://www.cnbc.com/video/2024/01/16/europe-will-be-challenged-from-an-inflation-perspective-following-red-sea-tensions-says-enquest-ceo.html

Didnt realise Selene was being classed almost as an appraisal well. Shell have COS as higher than 70%. Incredible!!

This will do very well once funding is confirmed. Im waiting until then to buy more. The run up to drilling after that should be pretty exciting.

Nice interview, they are going to have to announce the funding plan pretty soon if they are planning to drill selene in the summer? Surely needs to be in place before any rig contract is signed?