Member Info for Scott22

Tongue in cheek is right. The value of a farm in partner (for Noble) is they bring in cash or at least ready access to capital. We have neither of those. I tend to think we need a JV partner, now or at some point when the discussion is about the need for $50 million dollar processing plant (God willing).

Copper we will need but battery science is working very hard to reduce overall need for cobalt. Just trouble how China has locked up Congo sourcing and just sad how workers are exploited there. Though I would think country could be even more stressed without high prices for cobalt bringing revenue into country.

https://www.msn.com/en-us/news/technology/the-coming-ev-batteries-will-sweep-away-fossil-fuel-transport-with-or-without-net-zero/ar-AA18k5Nx?ocid=msedgntp&cvid=228118a51ea541c68fbb1c5739eb6fc1&ei=47

Selling AIM shares when everything is this dismal and dark is generally not the wisest move. Trouble here is really the astronomical share count
(Carl Sagan like - billions and billions of shares). So even though there is potential to move up somewhat from here (in fact it is likely), the chance of a really big gain seems pretty remote. Problem is to set a sell price, harvesting at least some of the potential value but also moving on the other less capped opportunities. Just my opinion of course.

Hi dai: I liked your "nothing goes straight up". Must admit that has not been my worry in this one.

Feels more like the eve of destruction. Or slip sliding away. Nonetheless will not sell any here. Not worth it. This is in my turnaround/special situations basket and not everything in there gets out alive.

Who could argue? I got pushback a while back for suggesting that the shares were stagnating. I should have prayed for stagnation

HM: “The difference here is in Royston 1, the Intermediate flowed 500bopd.”.

With no water. 94% light oil.

Nothing like that from Chinook. ( though updip Chinook wells may have less water)

happysparrow: I would not be happy if I read this as showing the subthrust is not productive. It actually says the opposite is very likely. There are sands in subthrust that tested positive by wireline for hydrocarbons. That has be be confirmed by further testing. The intermediate sands show hydrocarbons by wireline testing and previously flowed 94% light oil. The overthrust showed hydrocarbons by wireline testing, had big water cut at Royston 1 but overthrust was entered 330 feet higher here.
There is nothing negative here. Need more test data and need LT production test. But to say this RNS indicates subthrust is non-productive is a little ridiculous.

Whatever 300 million pounds of copper and cobalt we are talking about, the share price slid another 1 1/2 pence. Pie in sky not warranting any increase in share price.

.....now DM is out of the equation, I wonder if he is about to stock up on He1 with what he already knows?....

That would be unusual. To not buy very much when he was running the show as CEO, and then load up majorly after being fired. Must admit I have not seen that play.

Thanks Ginmunger. . that does make sense as another way to quickly grow production and revenues (at Royston field) since a few oil wells can be put on long term test. I agree that things are just getting started now (Coho was an appetizer) but the share price is not going to react to "just getting started" but only to quarter by quarter substantial growth in production and revenues. In US I would call it a Missouri stock - the state motto is show me. But after that growth starts to play out then there will additional attention again from news items that are forward looking and promise bright future. But right now items like that are not likely to move the needle. (asset swap, new blocks awarded in on-shore bid round, spudding of new wells, even new discoveries with uncertain timelines to production and revenues. (except maybe a Kraken discovery which might blow the roof off but that won't be drilled this year).

So there are only two current items of importance. Production and revenues from Cascadura, huge and still by far most important. And a good result at Royston that can god on immediate production and also can confirm beyond any doubt exceptional commercially of the Royston field, which so far has only one discovery well that had huge technical problems and could not be produced. Commerciality is a step beyond discovery. Production is a step beyond commerciality.

Remember that I used the term stagnating and got a lot of push back. I think stagnating may be a generous description. There is work to be done to get back on a steady growth path. Could happen, potential is there. But not happening at the moment.

Royston could be worth as much as Cascadura but the production ramp will take a whole lot longer so that worth will not be reflected in the share price nearly as soon. Valuation is going to reflect growing production, revenues and cash flow.
We should get huge bump in production immediately when 60 mmcf/day coems on line, another bump las year progresses as production is tweaked to 90 mmcf/day from those first two wells, and then a huge further bump in 2024 as new cascadura development wells are drilled, come on-line, and boost production to 200 mmdf/day (with proportional increase in liquids as that all occurs).

I thought that was meant ironically, should have known. It was actually pretty clear. It was pretty amazing for him to get his Master's from University of Leeds, including getting his thesis accepted, in less than a year. And more importantly, he is still curious, still humble, still a great teacher dedicated to his students. His recent post on his FB page about a field trip with first year Geoscience students had a great series of photos.

https://www.facebook.com/xavier.moonan

The right CEO can make a huge difference. Hope she steps up to the challenge of a bigger role and proves to be a real leader.

Good discussion today. Corpse I agree with everything you say, expect that XM truly IS an expert. Have you listened to his talks about potential of off-shore turbidite sands off guyana and surinam. That talk was a few years BEFORE Liza-1 discovery well. And he has been intrigued about Hererra sands on-shore trinidad since before that (who else thought a 500 BCF pool of gas - Cascadura - was laying adjacent to the main gas pipeline next to a valve station) , and about what may lay deep to the Hererra sands on trend with the guyna/surinam pools that had not even been discovered when he first started talking about it.

I think they will say that they cannot really say anything, but hope to say something pretty soon. That is the stuff of annual meetings. I did sign up to attend AGM virtually. I have a lot of shares, worth very little money, and deeply in the red.

Look at the one year chart, shares have been a heck of a lot worse than stagnating since bouncing up smartly. Talk about a reversal! Look at the growth rates in revenues over past 4 years, Up, up, up, and flat. That is stagnating.

Our job is not "tiny" in terms of facilities for production of 200 mmcf of natural gas and 5000 plus barrels of condensate per day. That would not be a "tiny' job in North Dakota. And it would cost money to get it on line. Especially in a remote location. Add to that no new gas production facilities have been built on shore Trinidad in decades, excepting little Coho, which likely could be called tiny with dry gas and a smaller simpler operation. Once approved (that delay was really annoying), Cascadura is chugging forward. I have no particular problems with that as long as they keep pushing and get it done. I also hated parking the rig but the rig is unparked. And turning. Also agree with the poster who mentioned that the reserves report won't be a positive. Next year maybe but not this year. Hard to build reserves with zero wells drilled during past year.

Since May of 2021 the share price has been straight down and the company itself has been stagnating. Chart looks ugly as sin. And the experience of owning the shares has felt worse. But hope springs eternal. Seems undervalued at this price. Copper may provide a boost.