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Https://www.energyvoice.com/oilandgas/north-sea/550918/enquest-uk-oil-bentley-bressay/
Rk1
It's not a criticism fella but a positive development. It suggests investors are still willing up to 'cough up' funding because they can see material value enhancement and have confidence in SOLG management. Looks all good, famous last words
good fortune
21 months debt free. That would be incredible when you look at the cash-flow relative to company valuation.
the only blot on the landscape is a scummy, 'green' Labour government but let's hope the unions that represent NS employees apply max pressure on idiots like Starmer and the odious Miliband to rein in their zealous plans
Https://www.bnamericas.com/en/interviews/solgold-pinning-its-hopes-on-ecuadors-cascabel-project
Falcon Oil & Gas Ltd - Shenandoah South - 1H well IP60 Day Flow Rates of 3.0 MMcf/d (normalised to 6.0 MMcf/d)
Falcon Oil & Gas Ltd.
(“Falcon” or “Company”)
Shenandoah South - 1H well IP60 Day Flow Rates of 3.0 MMcf/d (normalised to 6.0 MMcf/d)
26 March 2024 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce that the Shenandoah South 1H (SS-1H) well in EP117 achieved above commercial IP60 flow rate of 3.0 MMcf/d (normalised to 6.0 MMcf/d over 1,000 metres).
Highlights are as follows:
The SS-1H well in EP117 achieved an average 60-day initial production (IP60) flow rate of 3.0 million cubic feet per day (MMcf/d) over the 1,644-foot (501 metres), 10 stage stimulated length within the Amungee Member B-Shale, normalised to 6.0 MMcf/d over 3,281-feet (1,000 metres).
Exit rate trajectory after the 60 days of flow testing showed a steady low declining curve at 2.76 MMcf/d over the stimulated length (normalised at 5.52 MMcf/d per 3,281 feet) and stable reservoir back pressure of 530 psi.
The SS-1H IP60 flow test indicates that future development wells with lateral length of 10,000-foot (3,000 metres) may be capable of delivering average rates of 18.4 MMcf/d over the first 60 days of production.
Results to date confirm that this region measuring more than 1 million gross acres below 8,850 feet (2,700 metres) is one of the best locations in the Beetaloo Basin to commence pilot development activities.
Flow testing of the SS-1H well will continue for the next 30 days to achieve average IP90 flow rates to better determine the well’s estimated ultimate recovery per well (EUR). IP90 flow rate results are expected to be announced in late April 2024.
The Beetaloo JV Partners of Falcon and Tamboran B2 Pty Limited will continue to progress development plans for the proposed 40 MMcf/d Pilot Project at the Shenandoah South location. The project is expected to require six 10,000-foot development wells initially to achieve plateau production of 40 MMcf/d. Drilling of the first of these wells is planned to commence in Q2 2024 and the JV is targeting first gas in H1 2026.
At the end of February 2024, Falcon held ~US$5 million in cash and has the benefit of a further A$16.67 million gross (~US$2.5 million net Falcon) carry to support immediate activities.
Falcon is funded to commence drilling of the initial two wells in the program and will evaluate opportunities to support funding the remaining capital commitments to reach first production, including issuance of equity and/or debt, evaluation of pre-payment for gas from the proposed pilot project and potential farm-down opportunities.
Philip O’Quigley, CEO of Falcon commented:
“The SS-1H IP60 flow rate announced today of 3.0 MMcf/d, normalised to 6.0 MMcf/d over 1,000 metres, demonstrates a steady low declining curve while holding its downhole pressure. This augurs well for the initial development in the S
Turner Pope note, just a small position here though but PEP001 assays very good at 151m at 3g/t from surface which isn't bad at all
https://s3-eu-west-1.amazonaws.com/vox.assets.public/media/29a86cbe-3423-41e6-9b66-184d69bd31e9.pdf
When does this agreement 'kick in' and is this the Irishman's flagging a sale of the company's entire interest in Beetaloo? Either way, he's becoming an irritant. Time for him to shut the FU and move on or sell the company
Https://www.northernminer.com/politics/miners-praise-ecuadors-new-president-as-he-battles-narco-gangs-to-bolster-jobs/1003865268/
Nice photo of SOLG CEO