Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
I’m here for Icewine! There will be a farm out(s). It’s just a question of how good the deals agreed will be for shareholders. The conventional is massive and many excellent prospects identified. The HRZ is also massive and has been successfully stimulated and derisked by drilling two wells. WINX would have been useful bunce but let’s not throw the baby out with the bath water.
https://www.asx.com.au/asxpdf/20190307/pdf/443985wz3kz3qy.pdf
minden:when this SP really rises it will not be 100%, it will be 1000%
Sorry Icewine+ £41m (can’t subtract!)
RMP market cap now £30m whereas 88e ie £71m so Icewine+ is valued at £31m? Don’t think so. 88e is as cheap as chips!
I remember when Icewine 1 was being drilled and the SP gyrating like a hula hoopers hips. Still game on IMO and in any event there is enough going on with our other projects to support a higher SP. just old fear and greed doing what it does best.
Just look at what happened to UKOG’s SP when oil shows were reported. It went into the stratosphere!
timetoact: the BB’s are plagued with “idiots” and you have to read the RNS’s and form your own conclusions ie research, research and research. Avoid listening to the rampers & derampers and even plausible posters may have their own agendas. All I can say is that I’m very happy sitting on a several million of these beauties! This company is going places and remember that it takes time to grow any business although you wouldn’t think it judging by the comments of some posters!!
What’s amazing is that electric cars have been around since the late 19th century. I wonder why they never flourished?
AIM4: I just had my ride-on mower serviced so that consumed a few litres of oil and of course also petroleum when the grass needs a cut. I’m therefore counting on WINX-1 producing in the coming years!
SeaHawk: Absolutely and my point is that the successful stimulation will enable us to drill further wells following farm out. It’s not all doom and gloom just because we didn’t get our boots covered in oil!
PS Operations were suspended in July 2018 so clearly there was some success reported in September.
SeaHawk: this is from September 2018 “Icewine: HRZ Liquids Rich Resource Play – 0.8-2.0 Billion Barrels Liquids**
• •
De-risked by core/log analysis from Icewine#1 and successful stimulation of Icewine#2 Integration of Icewine#2 results underway – farm-out targeted 1H19”
Take a look https://www.businessnews.com.au/sites/default/files/bnb/document/88E%20Investor%20Presentation%20September%202018%20MASTER_0.pdf
SeaHawk: the company has already announced spud this Friday so I’m getting the bunting out for a celebratory weekend!
moneyhawk: there is so much news imminent that you will be up all night catching up!
Thomcum: my backup plan is to go to the pub and get legless!
PS I accept that the SP is one measure as to whether something is either successful or not but we shareholders do tend to expect far too much and when results disappoint we talk ourselves into oblivion. I’m only saying that it’s not as bad as some have suggested. Glass half full IMO
NB The successful stimulation of Icewine 2 means that the farmout process can be instigated in order to finance more drilling. The eventual farmout agreed will determine whether what has been achieved to date is sufficiently successful.
SeaHawk: the company says it was “successfully stimulated” vis “Primary Target: HRZ Liquids Rich Resource Play – 1.0-2.6 billion barrels liquids**
• Phase I: De-risked by core/log analysis from Icewine#1 (2015/2016)
• Phase II: Stimulated successfully in Icewine#2 with flow-back clean up ongoing
• Preliminary results encouraging, but not definitive, with only 20% frac fluid recovered
• April/ May 2018: Finalise flow testing with optimised completion and artificial lift”
https://www.rns-pdf.londonstockexchange.com/rns/2490L_1-2018-4-18.pdf
SeaHawk: Icewine 2 was successfully stimulated and operations suspended pending Farmout.