Member Info for SimonT

That is a good listen Sunday. Full analysis of Coho in about 1 month, nice Christmas pressie! And they might bring the original 4th well in the plan, the BIG gas one Royston forward to be drilled 3rd after Cascadura!

The full test results are whats needed here, after what happened over at Bloe I imagine a lot of people are waiting for these. Their well was announced as producing as much as 1400bod with a $12m placing done on the back of it only for it to fall to 51bod in a short period. ii's and pi's were unhappy as the share price lost 2/3 of it value after the initial multibag rise. So I think the bigger investors are just waiting to make sure this well is not like a shaken can of pop being opened. Sustained high rates after a longer test are what is needed to really add value.

To be fair it was a bit of a brief test, I wasn't expecting results till later in the week. I am sure if these figures hold up over a longer period then a new 52w high will be achieved!

When the shares held by the Bod and the significant holders on the companies register are removed from the total there is less than 118m shares available!! When the demand gets high this will fly!!

Averaging 11.8mmcfd will earn $15m p/a! That should add $50m to the MC! Anticipated to be piped up and flowing in H1 2020.

Exciting times!

Is anyone else seeing every trade in duplicate on LSE?

Photo, it sounds like you saw the red dot and thought this was going to be the day?! I bet we all hoped it was but we shall have to wait a bit longer. Still very positive in my eyes, Coho test results in not much over a week :-) Cascu very close behind in the grand scheme of things, Very exciting times in my view!
Your day will come and your 2p will be smashed! Not long now!

It would be easier just to agree with you but then we both might be wrong! :-))

I was merely reacting to flawed logic that claimed it had to be a buy when it cannot be determined what it was with any certainty, as I said in my first post in this thread.
Please be aware that some will misrepresent things to the positive side, similar to what PH did in a way?! Which everyone without exception disapproved of!

If it had been displayed at 16:27 I would be inclined to agree, the fact it was delayed throws doubt over the real time it occurred and therefore its nature.

The chart says the mid price has never been below 6.05p today so most likely a sell. Impossible to determine with any degree of certainty though! It was certainly a mates rate deal whichever way you look at it!

Only the price difference matters to the holder, I have seen them done both trades above or below or one of each, I suppose it depends on how the MM's want to display it and the impression they are trying to create regarding trading?

It is most likely a rolled over T trade which cost someone £170.

Well quit your mocking then Bill and explain as I am at a loss too as to how such an high price was agreed for the gas?! especially as Bago will have other cost commitments involved in getting it?

Yes no worries, I am here for the same reason everyone else is, to make a few bob! With the massive following Bloe has any rises can be quite spectacular so when I feel it is the time to buy I do and when I feel it makes sense to sell I do. I have had 1 good trade here. Right now I feel it is a time to sit out, waiting for when i feel it is time to buy. It is a bit like overtaking in your car, the least time exposed to danger the better!
If everyone was an LTH there would be no buying on good news, trading drives the price! LTH's should be less critical of traders.

Sea7, I think Bago have signed up on the possibility?! They are not committed to anything or any expenditure until Bloe meet their minimum production requirements but if they do then they have the contract in the bag, it is a no loose gamble for them.

I would agree with all of that, it is a waiting game now.

Cautious, I don't think that far ahead on possible scenarios, the immediate issue is where is this going over the next few weeks? With the high initial but quickly falling rates at 16 I doubt they will rush anything with 38 particularly with the water coning issue they have announced so I don't expect results anytime soon. They will work slowly and carefully until they have got past the initial phase and achieved sustainable flows before announcing anything. The TR1 has no doubt caused a little excitement, but my opinion is this will fall while we wait for results from 38. I don't see any news coming from 16 as I am sure they are still assessing and deciding on a plan of action there with continued testing until the flaring licence expires.
On the water coning issue, they cant possibly know that is an issue at 38 yet as it would only show after flowing the well so this must be something learnt from 16? Reading up on it it would seem that it is a one way ticket and once the water has reached the well bore there is no going back, it casts more doubt over 16 ever showing much if any improvement and will give rise to a great degree of caution during the testing of 38.

Pawn, excellent explanation of water coning here, it gives an insight into another of the difficulties faced!
https://petrowiki.org/Water_and_gas_coning
I bet they wont be opening the taps too far too soon this time!

During cost recovery Bloe get a 50/50 split on the profit oil so a total of 75% of the gross take, after that they get 40/60 so a total of 70% of gross. So no you cant use the gross figure to calculate payback time.