Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Interesting read cheers for posting Was.
Lol he is Minchin 2, but if they declare discovery Monday / Tuesday , game on.
Interesting , they care about the share price and investor sentiment/ confidence, whilst HE1 or at least the last CEO are on record as saying the share price is not their concern.
Void , it’s a sign 👍🏻👍🏻
Crusty, that may have been the case under the previous administration, things do really seem to have turned a corner under the new President. If we get a discovery and they can start taking their cut and showing the population how things are looking rosy for the future, pretty sure they will be acting expeditiously . Still let’s not count chickens, first things first !
Chesh, I think it’s the Karoo which runs deeper than expected by 400m, basement will be the basement when they get there - just deeper than expected. However the Karoo formations were the largest expected gas bearing pay zone, so the 400m increase in this zone is potentially incredible with respects to Tai value.
Dai, thanks for that link to Baker Hughes, this well making larky is very complicated - must have been some very clever engineers design all this drill stuff in the first place. And there was me thinking we just drilled a hole and effectively stuck a bit of drain pipe down it !! If they pull this off, will be mightily impressive. Can see why it’s such well paid work now.
Joe, Yeah, they don’t seem great at blowing their own trumpet these days which is a shame especially when they go raising funds at levels many thought too low. PR - even if nothing else - over at NHE is in a whole different league. HE1 did also employ someone in a PR role, not sure if they’ve gone , they should have, Lorna - get a niece or nephew in and let’s get this across all socials.
One thing no one has picked up on, when they brought this rig, it came with “a comprehensive spare parts package”. So where is it, and why don’t we have seals in it. These little things need to be ironed out. In fairness, from purchasing the rig and getting it to site, time was pretty fast, maybe they will get some reorganisation done in the wet season.
I see the website is down & being updated….
I think they advertised & employed the rig manager quite recently, after they brought the rig. Last drill was contracted out and HE1 & the drill contractor fell out after the well problems. Think the drill manager then was an Aussie called Randy.
They have employed an engineer for a year or more who apparently flew around the world appraising various rigs, think he appraised the one they finally brought but previously when they were to be leasing it.
Already documented that the well will be capped and returned to for commercial proving, also obvious from photos that a lot of kit has already left site, my money is on Lorna making the second drill - if the wind blows in the right direction for her, her professional approach has made everything possible, not sure she could do more.
Lorna has a very expressive face, it’s interesting to watch how it changes depending on the subject she’s talking about, skippy mentioned poker before, let’s see, happiest when talking geology not engineering speak, I’ll take the very momentary happy expression when she first mentions the shows, and the similar expression when she talks about seeing what’s at the basement as uncontrollable natural responses, together with the photo of her and Mike this morning, and the way this campaign is been run - certainly not ramping it in anyway - as a massive positive, away from Tai next week but back soon to confirm its commercial .
@dai, aha cheers Dai, I remember there been some chat about that, so much chat here these days difficult to keep up.
Hope / guess you traded your way out of previous position here without too much pain, thanks to your previous nudge (ages ago) I’m well averaged down here now and over the kick in the nuts from 2 years ago - probably just about set for another lol. Cheers.
@joe, so the fact we apparently saw reamers previously, is that common to ream a hole then continue drilling down ? Or would the ream be prior to casing just that section then carrying on down, probably just answered my own question thinking about it. Cheers
@pat, “ how can they now be sure an extra 450m is going to be enough?”.
Well, they reported that chippings coming up with the mud was consistent with what would be expected to be seen at the basement seal, so they know they are on the edge of the basement now.
Seismic 3D was a very much more expensive option that DM didn’t decide to take, hindsight is a wonderful thing, the data they will have collected from this deeper hole will be invaluable - not only to HE1, and it proves the rig is good to depth, also important to give the rig a good work out if they are considering to provide drilling services to others in the future.
All positive here imo.
Absolutely Keith, this should be re-rating very soon with NHE de-risking the entire basin.
From Twitter just now:
From the RNS this morning we know they have found helium in the Lake Bed Formation and in the Lower Karoo Group.
The basement level is now over 400m deeper than expected, implying the Karoo formation could be a lot bigger than even the CPR implies.
Joe, NHE did do 3D seismic, Minchin believed it was too expensive and that surface electrical resistance testing together with 2D seismic and the satellite seap map and actually drilling exploration holes was a better way to spend the money. Let’s see. If the companies are as close as people say all this info would have been shared, so for TD to be so far out of estimate would be a big surprise. Imo.
Twohearts, well, Lorna does seem to be carving out her own unique style of leading, under promising then over delivering, tightening up the leaky ship, and learning the CEO role as she goes, . What Keith writes is very interesting, are we dancing a waltz a tango or a jive here with NHE and others, interesting times and when will the ‘overlord’ make an appearance?
ART, that RNS was meticulously written with its detail, obviously it’s WHERE. They be found it, again, the well hime is good this time, they’re going into the basement motherload worh a new drill bit, nothing not to like here.
No1, isn’t that always the case here ! Frustroagain, but it is what it is and at least Lorna has learnt from the previous problem and explained exactly what the issue with the tig is on this occasion. With Noble up and this today I would be surprised if the price drops, but then again it is HE 1
Great posts again Skittish, many thanks.