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Worth looking at CTP presentations on nearby acreage
https://hotcopper.com.au/threads/ann-qupex-company-presentation.7335856/
Strong numbers;
Prospective Resources – Dukas – CTP share (35%)
Exploration Prospect (Central Share) Units Low Estimate Best Estimate High Estimate Mean
Natural Gas Bcf 45.2 259.7 986.7 428.8
Helium Bcf 6.0 39.9 165.2 69.7
Hydrogen Bcf 7.4 50.8 211.4 88.
A free carry through seismic ($5m?) and drilling ($10m) saves MSMN from raising capital to pay for it - that it a good thing. SO GE have to raise the capital ($15m?) and pay for all that work. Good luck to GE in raising all that capital and both sides win if it works
its not an unusual choke size... it can be adjusted up or down. Too large and the reservoir pressure drops, and flow rate drops. The wellhead pressure is strong, suggesting the reservoir can deliver more. Temporary limited tank storage may mean smaller choke to manage produced oil volumes, that will be resolved when well connected to production facilities
exploration! a) its a risky business and b) it is not possible to value a resource until there is sufficient data. GE has only a fraction of the assets that Mosman has....with GE IPO based on helium volume estimates!
Mosman has production, Reserves at Cinnabar, Prospective Resource in Australia. I agree it has taken time to get there, but I think Mosman has built a strong portfolio and is getting the critical mass to move forward
I agree with fordfairlane that Mosman has been building production, and in the past Mosman was too small to borrow so had to raise capital to drill and grow production. Once critical mass is reached, loans may be better way to go. A good flow rate at Cinnabar (which already has a Reserves Report) might be enough to get development funding from banks.
The other way to go is farmout as Mosman did in Amadeus Basin where wells cost several $ million - but not many companies managed to farmout. Santos and CTP in Amadeus also farmed out and will drill in 2023, that activity could bring interest to Amadeus Basin: "Peak Helium have recently advised Central that the assessment of stamp duty for the
farmout agreement has now been finalised with the Northern Territory Government. This will
facilitate completion of the remaining conditions precedent. Peak Helium have accordingly
requested an extension to 30 November 2022 to satisfy these remaining conditions precedent
and the parties have agreed to this extension. We understand Santos have also provided Peak
Helium with a similar conditions precedent extension for their farmout arrangements."
Fundemantals seem strong, what's the problem?
"We had a record period with over $2 million in revenue which is the highest in the Company's history. More importantly our gross profit was $1.2 million (over $1.4 million after non-cash items), representing a 381% increase, also a record for the Company. Average oil sales prices during the period were $98.28 per barrel."