Member Info for Shedulike

Didn't you sell up as Highside?

You'd think so rlightor. The last CCS RNS refers to a defined commercialisation scheme. My guess is that they will have established a working model but the final agreement will have depended on the exact technical findings of the pilot with factors like the speed of permanent sequestration impacting the economics. Still I'm sure they'll find a way for it to take as long as humanely possible!

Perhaps I'm being optimistic but as I said yesterday they have been working on an "optimal monetisation scheme" for the CSS programme with Indorama since May 2024. I don't think it will have been a case of prove the concept works before we start structuring the commercialisation with our partner. IMO as the MOU suggests the commercialisation will have been progressed in tandem with the fieldwork.

Let's see Heps, I'm aware of my optimism bias so wouldn't be surprised if you're proved right. As a general rule everything O&G tends to be glacial just sense on the CCS it's in everyone's interests to crack on.

Heps on the CCS I don't really see why an announcement on commercialisation including initial payments couldn't be near term. It's a month since they announced that the fieldwork proves the project is de-risked so while there will be extensive negotiations over the structure and scale of remittance they must have already had a concept in place in anticipation of the fieldwork success case. This from May 2024 "Block and Rustavi Azot will form joint technical and commercial teams to begin defining a pilot CO2 injection project and will share commercial and economic information to determine an optimal monetisation scheme". In other words it's not as if money hasn't been mentioned until the practical work was completed :)

From the spud of KRT39ST - "Should the pilot be successful, the technology has scope for application on both Project I and Project II". From the Nov Ops update - "Project I well KRT-39ST drilled safely, on time and within budget, marking the first successful application of 'slim-hole' drilling technology in Georgia". Well then ..........

...... Which got me thinking given the timescales for getting P IV government approval, could we looking at approx April for getting the PIII farmout signed off? We kind of accept that everything is glacial with O&G but I often wonder what specific, real world, actual processes cause / justify this? Another example - PI 'slim-hole' technology announced as 'successful' early in Nov 25 but weren't we lead to believe that in this eventually it would be applied across the licence? Nearly a whole Q later and nothing....

Ah yes - anyone else having similar brain fade as me the Sep 25 RNS does make it clearer than today's.

Thanks Hep's - yes I am!

Must admit to being slightly confused - thought we were in a 50-50 JV with Georgia O&G on P IV.

Just for balance these are contingent resources rather than proven recoverable reserves so not 100% nailed on commercial gas, probably more appraisal drilling required IMO.

Yes interesting, the Mcap showing on JSE is roughly 5 times the LSE Mcap at suspension (assuming I've got my Rand-Sterling calcs correct). It has been all over the place though so not counting any chickens yet!

Mm's I think they want the JSE listing more than promotion to AIM. Interesting times but I'm taking nothing for granted until its signed off.

I used to think some people on here were too fixated with PH's reputation. Apart from the obvious excessive greed I'm still just about 'on the fence'. However if, in the New Year with the ammo now at his disposal he continues to fail to promote the company and the SP then he will have been completely ineffective as a CEO and should step down.

Well something's not right. We have a de-risked zeitgeist CCS project right at the heart of one the fastest growing economies in the world and the market just shrugs? Oh well some interesting background on Georgia from Reuters (usual apologies if already posted) https://plus.reuters.com/enterprise-georgia-bridging-east-and-west/p/1

Quite br - market normally looks forward in anticipation. With BLOE I feel it looks back at past mistakes. EWT results going missing in action doesn't help IMO.

I can only say I'm staggered at the market response given we have the key phrase "The successful pilot de-risks the project". Is there disappointment that there is another phase before commercial numbers? Maybe a concern that they plan to release the phantom KRT-39 EWT results behind this good news?

Max Richards has pretty much let the cat out of the bag hasn't he? That's unless he gets excited about working on something for a year and then issuing disappointing results.

Just trying to read between the lines of the video. Speculation of course but Giorgi does say that when the latest samples are independently analysed "We'll know exactly where we stand with the project". Suggests to me that the final samples have been sent which may mean that in-house tests show that the CO2 has successfully mineralised at the lower end of the predicted 4-6 month timescale. Certainly not counting any chickens yet, this is BLOE after all!

Perhaps they haven't announced the EWT on KRT-39ST because they didn't want to risk losing the award :)