Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
You can't be serious taxi, you can't extrapolate production numbers from a 30 minute test. Maybe that's the point.
Also Dave wall mentioned in the interview from years ago that they need at least 100 barrels a day for it to be commercial... So to me the result is poor. Horizontal wells are expensive. There's a reason these small companies get to buy these licences and the major companies aren't interested.
The well was cleaned-up and flowed for 84 hours in total under nitrogen lift, with ~68 hours of clean up prior to the flowing of oil to surface, with the well flowing oil over ~16 hour period.
· The well produced at an average oil cut of 4% following initial oil to surface, with instantaneous rates observed during the 16-hour period varying as the well continued to clean up at managed fluid flow rate of ~170 bbls/d with a calculated total volume during the flow back period following establishment of oil cut of ~4 bbls of oil.The SMD-B test produced at a calculated peak flow rate of ~50 bopd, which was an instantaneous rate calculated during the flow back period via a measurement of observed oil cut and fluid flow rates.
During the established production period of 10.5 hours the well produced at an average oil flow rate of ~ 42 bopd during the natural flow back period, producing a total of ~ 19bbls of oil. Approximately 6bbls of oil was also recovered during the clean up / non-established production period.
· The USFS test produced at a peak flow rate of over ~70 bopd, which was an instantaneous rate calculated during flow back period via an oil tank volume measurement of 1.55 bbls over a 30 minute period.
Saying they are seeking a JV partner actually means nothing. There isn't enough information yet for any company to decide to invest. It's all smoke and mirrors. Concerning that they have released so many RNS this week... To get the sp higher imminently. Have a think about that.
I can't understand why they have released this now. They should have put this information in the original RNS. The numbers here are clearer but I can't see any cause for excitement?? 30 mins is a joke. How is that a decent test? Very strange. Unless testing for longer would mean they would have to report worse results...
That's true toptuf but I always thought "a matter of weeks" was overly optimistic/not entirely honest and more to reassure there wouldn't be an imminent raise. The loan was a nice touch too rather than more dilution. The longer it takes though, you're right it just seems like a total fabrication to say a matter of weeks. It did take a long time last time didn't it... I can't remember exactly how long. Was it 4 to 6 months?
That is a total lie. Disgusting. 70 bopd was the peak flow. Anyone who doesn't understand the significance of that shouldn't be investing in oil stocks unless they want to lose their money.
Goldwater, your maths is completely wrong and misleading. This is so obviously a pump and dump now. Anyone who invests here and doesn't plan to sell on the rise, needs their head checking.
I have quite a large holding at 0.11p. Tempted to buy more but going on past experience here... things always take much longer than expected. Also would be daft to raise my average... Never pays to act on greed.
I have never said not to buy. I personally haven't bought in the way down and I won't until after the placing news because it's too risky for me. But each to their own. However, I'm very glad I sold when I did because I am happy to admit I made a mistake getting invested here at 0.32p. I'm also very happy I don't try to average down because the opportunity cost is too high. There are shares with more potential IMO.