Member Info for sajad

Could do with news on the drilling of C79

Was supposed to be part of the 3 well programme cant just sit an wait for ever has to be some action we are meant to be an oil and gas company

Drilling = production=revenue

This really isn't rocket science drill baby drill!!!!!

Drilling = increased production = Increased revenue

RINSE AND REPEAT

Oil prices at over $110 per barrel and increasing Gas prices also spiking instead of being at logger heads develop the field

Selan presentation

interesting points raised anything over $35 per barrel is profit

Cambay an easy to drill field shallower cheaper wells can be drilled in a month compared to other fields that are deeper and more expensive to drill

https://www.youtube.com/watch?v=hX1wIJyPzhY

Was mentioned at the AGM were seeking funding for CCS at Cambay.

Interims should be interesting regarding future plans at Cambay drilling and workovers.

Oil price now $117 per barrel, surely this must be an incentive to drill.

Gas Prices are up significantly.

Surely now is the time to put some momentum in to developing the field if SEaln aren't interested time to move away from them and terminated the JV and retain 100% of the revenue. Now is not the time to sit and wait do not understand what this board is doing. Just sat an idly waiting Selan are not developing the field probably wating for our funds to dry up and then come and pick us up on the cheap . We are like sitting ducks come one board wake up and smell the coffee

Selan were dragging things out and hoping to get Cambay for a fraction of the price as well as not meeting their obligations under the JV agreement.

However I think this has backfired for them massively. As we will no longer be selling our 50% to them. The production figures have increased to 195bopd considering Selan last year were averaging 1495 bopd per day across all their fields this would have made a welcome increase for them. They have also lost their initial $500K payment. Going forward they are in breach of the initial JOA and JV and not only will the regulators be on their back we are also taking steps to address Selans lack of urgency. The company is far from Satisfied with Selans performance to date and we are now involved on the planning of C79 to ensure the best possible outcome via thorough technical planning.

As far as I am aware we are currently proceeding with the JV and Selan are developing the field.

Based on the current planned works I think it makes more commercial sense for us to develop the field steps are being taken to address the previous lack of urgency of the development by Selan looks like things will be different now going forward and about time too

We are not currently selling our 50% to Selan

Planning is being done along with Selan to drill C79 and also further workovers.

Im sure I posted this already dont people read the comments and just go off on a tangent

Sausage do you ever read any RNS's or just constantly rant without thinking about what you are saying?

We are producing 195 bopd and at $90 per barrel do the maths = $17.5K per days x 30days = $526K per month /2 = $263K for us.

Based on our operating costs of $70K per month why do we need a fundraise when we more than meet our operating costs also with a full funded JV agreement.

English wonder I agree

There is a lot more in the pipeline we are no longer selling our 50% and we are also in discussions with Selan planning for a new well C79 that will is fully funded as part of the JV with Selan. Further workovers as part of the JV are also planned too exciting times ahead. Selan have also been told the any further delays are unacceptable

We dont need a placing debt free and Selan are funding the field development.

Revenue of $304000 per month with costs of $70K have you missed out lol

C78 (new well) to come online soon and c72 can we see $600K to $700k plus revenue per month then with more wells due

There was also a 113 million this morning and a 40 million both look like buys

195 x $104= $20000 per day income from 2 wells currently

Wonder when they will update on C78h

Oil is also now approaching $90 dollars per barrel will be $100 by nexr week

Gordon there's different ways of funding litigation depending on the breach I doubt this is going to litigation any how and I doubt those that claim stating court proceedings understand how litigation works and the risks involved its not something to take on lightly

Wolfman Selan were already in trouble with the regulators for not following the work program.

A further report to the regulator now with the situation in the ME with India importing 88% of oil ad 50% of gas they are now in a dire situation.

In regards to legal action I really much doubt Selan will want to get in to further hot water going to court for a clear breach by them would exposed them to significant risk and cost consequences as well as reputation damage and erosion of their SP personally think they dont they dont have a leg and stand on

Thanks sprint I really don't think Selan have earnt there 50% due to not drilling the 3 wells in to Ecocene

Selan need kicking out of the joint venture they have drilled no wells as per the JOA take back their revenue share act quick not just sit an ponder !!

If my maths are correct then 195 bopd x current oil price of $85 shows a daily revenue of $16575.

Makes you wonder what Selans intentions really are here they know exactly what Cambay is worth and as per usual with the types of underhand tactics of Indian business men they are out to try pick up Cambay for peanuts well the cat is well and truly out of the bag now.

We need to drill baby drill and dont let Selans pathetic excuses stop us bunch of con men.

Carrot never spoken to you and you don't know my strategy so lets not speculate as to whose been left holding the bag lol

How about look at it from different angle Selan have invested minimum of $6 million since August 2024.

That's £333,333 per month. Now they are in serious risk of loosing there 50% share of Cambay and their share of revenue also.

Those constantly whinging key board warriors grow a pair and attend the next GM and discuss directly with the board and RW instead of posting constant nonsense on bulletin boards. Instead of hiding behind a keyboard Ssccs I will be in attendance and say to my face what you post on these boards and you will get a direct response instead of hiding behind a keyboard