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Just tweeted
Exciting updates from the Rio Cravo Este on the Tapir Block in Colombia!
Pictured below is the pad extension where we are getting ready to drill RCE-6, RCE-7 and RCE-8.
This is great progress for operations at the Llanos Basin site to allow for additional wells and facilities!
Https://twitter.com/corp_arrow/status/1681031109801394176?s=52&t=go6VEqfwDCC_iJoE32Qywg
Https://twitter.com/corp_arrow/status/1679901164123435015?s=12&t=go6VEqfwDCC_iJoE32Qywg
Arrow is fast getting a reputation for delivering on its promises and bringing on these RCE wells on time and under budget, any minute now we are also going to get the big one, the achievement of the 3/- b/d target, also in plenty of time. With today’s news from Opec and oil up 5% this morning the number crunchers at AXL will be delighted and the shares are up by a modest 10% this morning.
I’m happy with having Arrow in the Bucket list and of course my target price of 50p is going to look laughable when Arrow proves just how good it is over the next few months. All the details of the 5 well are above but it is one of, if not the, largest RCE well, after this the team are off to CN-1 which it should be remembered is a step-out from the Carrizales field itself. Happy days may well be here again and I take my hat off to Marshall and the team…
We have been named one of Canaccord Genuity Limited's top stock picks for 2023!
The report highlights our near-term production growth, strong balance sheet, and cash flow generation.
Https://twitter.com/corp_arrow/status/1612576173757968384?s=12&t=gejYbYcanppZ2-ShfHtxqQ
https://twitter.com/corp_arrow/status/1609284996774363136?s=12&t=1YeesZ9y6fCX8yKzjAuIbw
My TP of 50p looks even more attractive now the shares are back at 17p having fallen in line with the sector in line with the drop in the oil price. Given that I have positive views on oil next year I think that Arrow should be a top performer and will of course be in the Bucket List.
https://www.malcysblog.com/2022/12/oil-price-san-leon-arrow-wentworth-copl-and-finally/
5) Arrow Exploration (AXL): 16.75p Target 40p
Although Arrow Exploration has been on the stock market for just over a year, the Colombia focused hydrocarbon play can already be classed as a safe pair of hands. This is said not only in terms of the shares which came to market at 7p, and recently peaked as high as 21p. There is also the matter of the board of the company, which is very much in the blue chip category in terms of notches on its belt and experience. All of this comes to a group with a market cap of £37m. CEO Marshall Abbott has led the company to be able to say that it is on track to achieve 3,000 barrels bopd within 18 months of listing, announced in the wake of record Q3 results as EBITDA rose from just under £1m to £4.6m. Those in the know regarding AXL are pointing to it being debt free, producing $2m of revenue per month, and therefore fully funded with $14m in cash as well as incremental production. With additional production set to come in imminently and going into 2023, there is the prospect by mid 2023 of a considerable ramp up in output as new wells come on board, leading to as much as 10,000 bopd, and a dividend payout in the manner of say, an i3 Energy. Given how long the shares have been consolidating in the upper teens, one would expect that the next time AXL shares break the 20p level, they will break higher for good
https://www.**********.co.uk/articles/trader-s-cafe-with-zak-mir-stocks-for-2023-countdown-5-to-1-aeee9cc
Someone has set up a Telegram group if anyone interested , lots joined over the weekend
*************+jF5cLJYLQMgxOGI0
2) For gas producers, the current flat rate of royalty at 12.5% for all fields makes it difficult to economically produce from small, marginal or technically challenging fields. This therefore acts as a disincentive for exploration activity, as investors risk having a non-commercial project even if they find gas. The Task Force has recommended that instead of a flat rate royalty, there should be a variable royalty rate that takes into account field size and complexity and hence encourages investment.
3) The current capital allowance rules allow the write down for tangible and intangible capital expenditure on a straight line over five years. To enhance project economics for new exploration and development projects, the Task Force has recommended that and accelerated write down should be allowed over a three (3) year period or by the re-introduction of an Initial Allowance.
In addition to these three major preliminary recommendations, the Task Force made a number of other recommendations, all aimed at encouraging investment into oil and gas production and reducing risk and uncertainty for both the companies and the Government.
The next step will be for the Task Force to engage in detailed discussions around the recommendations with the Ministry of Energy and Ministry of Finance. The Task Force Chairman reminded conference delegates that oil and gas left in the ground produces no revenue for the government or people
On the first day of the Trinidad & Tobago Energy Conference 2021, Peter Inglefield, Chair of the Energy Chamber’s Task Force on Fiscal Reform outlined the need for changes to Trinidad & Tobago’s fiscal regime, if the industry is to be able to attract investment in the future, especially in the context of the global energy transition.
The Energy Chamber’s Task Force, comprising senior representatives of major operating companies and experienced and knowledgeable industry professional advisers, has been meeting regularly for the past six months to review the fiscal regime and to make recommendations for changes. The Task Force has advocated for the adoption of a fiscal regime that recognises that we are a mature oil and gas province and that most further reserves will be in smaller and more challenging reservoirs. A country with less attractive geological prospects needs to have more attractive fiscal terms if it is to attract scarce upstream investment dollars, especially in an environment when global capital markets are increasingly concerned about the long-term future of the hydrocarbon industry.
The fiscal regime needs to be responsive to the specific economics of specific fields or exploration prospects if energy companies are going to allocate capital for upstream exploration or development activities. Top-line taxes, such as Supplemental Petroleum Tax (SPT), and royalties can be especially difficult for the economics of potential investments or exploration programmes, as these taxes must be paid irrespective of profitability. Investors also need assurances that the fiscal regime will be stable over the life of a project and that there are no anomalies in the regime that add specific additional risks.
Taking these general concepts into account, the Fiscal Reform Task Force made some preliminary recommendations at the T&T Energy Conference 2021:
1) When it was originally introduced, SPT was designed as a windfall tax to be paid at high oil prices which at the time, was determined to be US$50 per barrel. However, the trigger at which it becomes due has not been adjusted over time to take into account inflation, until it was changed this year for small onshore producers and increased to US$75. However, the US$50 trigger price remains for marine crude oil producers, and this makes it very difficult to secure any investment in increased production in that sector. The Task Force has recommended that this should change to US$75 for all crude oil producers and that the SPT should be calculated against the incremental income, not all the revenue.
2) For gas producers, the current flat rate of royalty at 12.5% for all fields makes it difficult to economically produce from small, marginal or technically challenging fields. This therefore acts as a disincentive for exploration activity, as investors risk having a non-commercial project even if they find gas. The Task Force has recommended that instead of a flat rate royalty, there should b
In his first formal presentation to the annual Trinidad & Tobago Energy Conference, newly appointed Minister of Energy, the Honourable Stuart Young, told the energy industry that his focus was on bringing oil and gas resources to market as quickly as possible. Earlier in the day Prime Minister Keith Rowley said that the Government recognised given the energy transition was firmly underway, oil would probably have a shorter shelflife than natural gas. In line with this observation, Minister Young indicated that the Government was working with a horizon of 2028 to maximise oil production.
Minister Young said that his immediate focus would be to engage with all of the upstream companies to get all unsanctioned upstream projects possible, approved within the shortest time frame. He reported that he was working closely with Shell on the terms and conditions of the Production Sharing Contract for the Manatee field, which holds significant reserves estimated at 1.8 trillion cubic feet of natural gas, and that he hoped he would be able to make an announcement soon. Later in the conference, Touchstone CEO, Paul Baay provided confirmation of Minister Young’s approach, when he thanked him for clearing some of the barriers that were holding back the small, but fast-to-deliver, onshore Coho gas field.
With respect to oil production, the Minister told delegates that the Ministry had initiated dialogue with Heritage Petroleum and that the company has mapped out an action plan aimed at optimising exploration and development of its acreage on both on and offshore.
Minister Young reaffirmed that he “will personally continue to work with and drive Heritage and other oil producers to ensure that we maximise oil production with a horizon of 2028”. He clearly signaled the Government’s support for a strategy that emphasised partnership to bring capital for investment to Heritage’s acreage and stated that the government will welcome any expressions of interest from other operators interested in exploration and production. He explained that approaches from small and nimble operators would be especially welcomed.
This was a message reiterated by Heritage CEO, Arlene Chow, speaking on a panel later in the day, on encouraging investment upstream.
In addition to removing barriers to get unsanctioned projects over the approval hurdle, Minister Young recognised that the country also needed to stimulate exploration and the development of prospective resources on both unlicensed and licensed acreage. He promised that the Ministry would be embarking on a deepwater, onshore and shallow water bid round within the next year. At the same time, the Minister clarified that the government’s clear expectation is that acreage not scheduled for exploration or development, with a definitive workplan, must be returned to the State for reallocation.
Minister Young acknowledged that he needed to review fiscal terms before embarking on the next bid rounds and asked that the En
@StuartRYoung1 TWEET
Meeting with MEEI and Heritage teams as we look at the state of oil production and innovative ways to increase production as efficiently as possible #ttmeei #heritage
Bodes well imo
https://trinityexploration.com/about-us/careers/
@Trinity_PLC #TRIN We’re delighted with the arrival of 23 additional SCADA units. Huge thanks to our east coast rig crew for assembly and delivery to our WD 5/6 locations. Hook up and commissioning to begin shortly, further enhancing real time operational efficiencies
Zaks charting suggesting 25p possible
https://www.share-talk.com/weekend-edition-bulletin-board-heroes-sunday-7th-march-2021/#gs.vhzchh