Member Info for SimonT

If 16az is currently turning a profit after operating transportation storage and separation costs then it makes sense to keep it producing until it has to be shut in when the flaring permit runs out in December and do any remedial work at that time.

600-800boed if that is all gas it equates to 3.5mmcf-4.6mmcf, that is huge! Cant wait for the "monster" drill next drill year!!

With the Q+A session live at 7.00pm Tuesday I wouldn't expect another RNS tomorrow but one before the market opens on Wednesday is highly likely and would allow them to give out new information in the video interview.

Yes indeed, positive results could be days away, if you think that is the case buy some more!

I could name other companies too with differing levels of production and different market caps, even producing 2000bod with a market cap less than that of Matd, but this is not those companies!

Every single "buying" opportunity that has presented itself in the past turned out to be an opportunity to lose even more money!
With the company running below break even unless they successfully complete a productive well they are on a downward spiral so I will pass on this opportunity thank you!
Positive sustainable flow results are the only thing that will get investors flooding back in here, and that could be months away?!

I doubt he could win anything, he hardly has an honest reputation that might be hurt or tarnished!

Good find! That pretty much confirms commerciality!

Those 2 big matching trades look like a roll over on a T trade than a pair of buys to me?

Jrlomax, so you believe if Bloe wanted to they could have opened the choke and released an RNS with higher numbers? I bet it pained then hugely to release todays news and if there was any way they could have used higher numbers then they would have!!

Gas and lots of it eh? I would forget that! 130mcfd, that is worth about $13k a month at $3.3/1000cf, do you expect Bago to spend a million putting in the scrubbers and pumping station etc and then buy the gas off Bloe for such a paltry turn over? That is not a sufficient amount to warrant connecting. Unless they can multiply it from this well or with numerous wells in close proximity the gas wont be monetised. And if it is not piped away they cant continually flare it for ever. At present production levels the oil value after shipment with water and separation/storage doesn't warrant connecting the gas just to maintain the oil flow either. The future of this well has to be in question?!

Is that right AJW? 32,000 barrels total from wells 16 and 38 over 15 years. That is 5.8 barrels a day, between them not each!

700Bod LoL :-)) PH would be shouting that from the roof tops if Bloe were even close to that!! Yet all seems quiet??

C11, wasting your breath chap, I don't think many on here even know how to calculate an average!! I have tried banging that drum, no one will face the facts, the occupants of cloud cuckoo land rule on here!!

I not confident we will get a thorough update on 16az that wont leave any questions un answered either but they will have to show the value of oil sales and I expect the value of oil in storage as well as they are part of the financials. That would give us a clue to the level of production, of course a full and frank update of past and present production levels should really be conveyed to the shareholders!

What an awesome name for a financial officer! Bill McAvock :-)

With news due by the 30th Sept, next Friday will be squeaky bum time, no RNS on that day will surely be a positive sign?!

djm, I know what was meant, I read it this morning,

Finally, Wi th it’s placing above the current price the company are determined to do anything necessary to regain confidence in the company the share price.

So why not tell us the current oil production figures?? one can only presume it would not benefit the share price!!

That's ght djm, and here is the quote from the RNS;

Production resumed on 11 July and since testing began the Well has produced at an average rate of approximately 360 boepd (295 bopd plus 390 Mcf/d) on varying choke sizes, with an average water cut of 25%, considered to be mainly returned drilling fluid.

I will make it simple, if a well produces 1200 barrels on Monday then 200 barrels a day until Friday, by Friday it will have produced 2000 barrels in 5 days, so it could be announced on the Friday that the production average is 400 barrels a day, yet the daily production at the time of that announcement on the Friday is only 200 barrels a day.
We have not been told accurate daily actual production volumes any where! Why?? When they are determined to make up lost ground, as mentioned in Malcy's report.

Sieveco, correct, that is what he said, stepping up, he didn't state from what to what flow rate though so we are non the wiser.

I have watched that interview several times, maybe you should go and listen to it again!

When 295bod was quoted it was an average figure since testing began not the current daily rate at that time, so the average was no doubt enhanced by the high initial flow rates therefore much lower at that time.

djm, then tell me where in that interview Philip Dimmock said that? You are putting words in his mouth, no where in that interview did he use the word "increasing" in relation to oil production from 16az.