George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
The results have highlighted a previously unrecognised reservoir interval extending over part of the Darwin East and Darwin West structures, just above the main reservoir. The interval is poorly developed in the discovery well but can be seen to expand to the east and south on the inverted seismic data. This porous interval is considered to be charged and to have a common contact with the main Darwin reservoir. Consequently, the Darwin resource assessment has now been revised to include this interval. Two lower intervals on Darwin West, previously identified and described but not included in to the resource assessment, have also been included. The revised best estimate (P50) un-risked estimate for the combined Darwin East and Darwin West structures, incorporating all proven and potential reservoirs, is 360 million barrels of recoverable condensate.
The main near-field prospects targeted by the seismic inversion study are: Covington, Morgan, Sulivan, Stokes and Wickham.
The principal target for Covington and Morgan is the main Darwin shallow marine sandstone reservoir. This north-northwest trending interval appears laterally continuous and, in the Company's view, represents a series of eastwards prograding sand bars on the Aptian shelf. Based on the seismic amplitude response we believe these prospects are more likely to be oil charged. Best estimate (P50) un-risked recoverable resource estimates for the Covington and Morgan prospects are 216 and 230 million barrels of oil respectively.
The target intervals for the Sulivan and Stokes prospects are older and deeper than the main proven Darwin reservoir. This older stratigraphy was not penetrated in the discovery well and some uncertainty remains as to the age and depositional environment of the potential reservoir. Based on the amplitude anomalies, the hydrocarbon phase is believed to more likely to be gas condensate, similar to Darwin. Best estimate (P50) un-risked resource estimates for Sulivan are 473 million barrels of recoverable condensate and for Stokes 134 million barrels of recoverable condensate.
The Wickham prospect has a target stratigraphically younger than the main Darwin reservoir. This shallow marine sand interval was not encountered in the discovery well. The prospect is located on the downthrown side of the main Darwin fault. Based on the amplitude response, this prospect is believed to be more likely oil charged. The best estimate (P50) un-risked recoverable resource is estimated at 119 million barrels.
I think so POC. Either that or transfers before the new tax year. Maybe one fund hasn’t performed aswell as the other this year so transferring across would be beneficial and minimise any tax to pay on a substantial rise.
I’m only saying this because did someone say these two funds are partners?
I wouldn’t get too excited about stuff like that POC, he can as easily have been the one selling the millions while posting to try and support the sp while doing so.
I hope you’re right, but there’s absolutely no bases to his comments really.
Cresselly investments are already sub 3% so no notification required if they are selling more. I wonder if that’s all that transfer was about, split the holding in half and then just have one offloading once below 3% holding.
Crazy that there’s sellers at this price, but at the same time there’s buyers aswell so far.
I think something is being worked on, I’m expecting something like a full T/O but just a free carry to production for 5% royalty. Nothing that will set the sp massively alight but a slow burner. Still should be 6-8p immediately on that news and rise more towards the 20p mark as we progress and get further down the line.
Some investors might think that’s too long of a timeline with too much uncertainty so have better use for funds elsewhere in the short term so are offloading a few.
I see an Argos deal repeat.
£5m is irrelevant, there’s been multiple £5m sells for days on the me but no one was shouting about them.
What’s a monument mess this share is, send her up for their pals to short it back down.
I bet Linda crook can’t get through her front door for brown envelopes.
What exactly are the shorters trying to gain here? Surely the down side is very limited? If they get stung here they deserve everything they get.
Then again, when have shorters ever not had inside info here, the leakiest sinking ship on the market so probably make a fortune like all other shorters have here.
I’ve just had £5k at 1.95. Anymore and I don’t think they want it at the minute.
I can’t see BOR failing with billionaire owners. Im just pleased to see movement, maybe there is a deal in progress like that posted said last week.
They have been holding this in a range for a very long time bouncing trades off the bid and ask to hold it in a channel.
Either way, there’s movement and it’s boom or bust soon. Odds are good though, you can loose your investment or you could 5 bag over night.