Member Info for solstace

The only well drilled on the AMI, whistling straits #5 has so far never been cleaned up and flow tested. I'm hoping it's about 3rd on the list of priorities after chalk talk and gonzales cleaned up and flowing.

The Whistling Straits 5H well in the Peach Creek Oil Field in Gonzales County is a very important asset of Pennpetro since it acquired 100% of the well from Millennium PetroCapital Corporation ("Millennium") in July of 2023. The well hit significant oil and gas shows in April 2023, whilst the new lateral sidetrack was being drilled by Millennium, the operator. It was reported that good oil shows were encountered on the rig's skimmer tanks from 8,120 feet over numerous extended intervals and numerous gas flares occurred. Gas was registering between 129-226 units of gas including C1 through to C4. ultimately the drilling fluids were never properly recovered and hence the well was never properly put to test.

Millennium (as operator at the time) never actually completed the work to pump out the well's circa 10,000 barrels of drilling fluids prior to Pennpetro acquiring the 100% working interest in the well.

The Company is now assessing the best method to pump out these drill fluids and finally bring the well on to test.

Hi Casper can you point me to where Lithium has been confirmed? Cheers :-)

Won't be submitted until signed off by the auditor. Does not mean they are not ready and with an auditor!

You work for PPP or Westend corporate then? If so that's inside info! Personally I think not and your statement is complete b****x :-)

Https://energyx.com/blog/the-ark-la-tex-region-a-rising-star-in-lithium-production/

PFE holds ground in the Smackover inside a 50,000 acres AOI “Area of Interest” - the AOI is basically the area PFE has rights to negotiate leases in.

Across that 50,000 acre ground position PFE has already estimated a JORC lithium exploration target between 436,000 to 2,966,000 tonnes of Lithium Carbonate Equivalent (LCE).

Over the past few months, PFE has been increasing its ground position (adding ~8,131 acres in the first 4 months of 2024).

Earlier this week, PFE also announced that it will engage with $105BN oilfield services company SLB (formerly Schlumberger) to help find lithium in the Smackover.

Https://nextinvestors.com/articles/pfe-another-oil-major-enters-us-lithium-in-the-smackover-joins-exxon-and-pfe/

"I personally will be travelling to Texas in short order to assist with the Nobel asset handover to Globalvision and start work on our very exciting gas and lithium JV."

Big deals being done in East Texas

https://www.equinor.com/news/20240508-partnership-standard-lithium

Https://jpt.spe.org/firm-claims-texas-well-holds-highest-lithium-concentrations-in-north-america

Andy Robinson, president and chief operating officer of Standard Lithium, described the east Texas area, with an average grade of 644 mg/L, as a "globally significant lithium brine asset."

I think the lithium/gas jv now gives ppp 50% of a 25% working interest. 12.5% to PPP, 12.5% to global the rest to landowners and ESGY

They are 50/50 on the 75% with Global now I believe

We already knew but nice to see it. Thursday anyone?

EOG Resources Inc. has been the most active driller of the Austin Chalk in Karnes County, with 54 wells produced. Lidsky said the results from those wells show the play's renewed potential in the right places.

"[The wells have] a very impressive average rate of 3,900 [barrels of oil equivalent per day] online, 80% of which is oil. These are very, very economic wells," he said, noting that companies like Marathon Oil Corp., EnerVest Ltd., GeoSouthern Energy Corp. and Encana Corp. have also drilled into the play in the same area. "The industry has clearly cracked the code in Karnes County, with excellent results."

Lol are ukog looking to produce from the Austin chalk formation? In Texas? The home of oil! More Wells drilled than anywhere else in the world! More reservoir data than any other formation! Erm no a small conventional reservoir in the portland the rest ie Kimmeridge forget it.

1000b x 5 days a week =25,000b x 5 Wells = 100,000 x $80 = $8m a month 10% 800k a month to PPP x 12 = $9.6m @ P/e 10 = $96m 70p a share (very Conservative 5 day week production) x 6 for 30 Wells £4.20

(Discount covers tax and expenses)

So quick clean up a day or 2 and then run fishbones, according to the info below only takes a few hours. So all 5 wells could be cleaned up and fishbones installed in a 2-3 weeks including de-rig and set-up. Hoping for stable flows between 500-1000bopd IF installed. imop (If so looking at $500k to $1m a month to PPP) @ $1m (Less 20% tax) a month P/e of 10 x Mcap= $96m.

30 wells = Mcap $576m (Sp $5.43 or £4.25p)

Rough, give or take a few million for expenses/costs/shutdowns/ etc @$80 a barrel

Let's hope the workover on the 5 Wells is installation of fishbones and kaboom 1000bopd per well :-)

I think the lithium/gas AMI with ESGY is a 25% working interest so it's 50/50 of 25% so 12.5% PPP and 12.5% Global

In what group Billy?