Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
OPPC Guidance Notes April 2014 page 11
4.4 All discharges of oil subject to these Regulations, must be suitably permitted prior to any
discharge. In this respect an assessment of any proposed discharge must be undertaken to
determine whether the discharge may or may not contain oil. If a discharge will not contain oil it
is not subject to these Regulations and no Oil Discharge Permit is required.
AC admitted they got the original strategy wrong for a variety of reasons. New strategy in place with SOCAs help including the SOCAs help on the new 3d seismic. Huge rig in place including spares if c37 comes in on the first target alone it's a game changer 2nd target well I don't think those warrants at 6p are going to trouble anyone... Take your time AC after you own 8 odd% which is more than most CEOs long kids by forward to next week hell even by AC time the week after GLA Stab
Looking at the 'commencement of well deepening operations' RNS from the 18th of July it states the commencement of well deepening operations at c37 will take place on the 26th of July and that well deepening activities are expected to take 30 days.
From that RNS well deepening operations include the both the preparation and drill its only 350m with a top drive system so we should be done by the end of the month tops .I appreciate this is Zen but with a top drive system they should be able to do more than 10-20 m per day drilling should be done within a week IMO.
GLA been a long wait for this one but the risk\reward ratio is excellent if that upper cretaceous target comes in boooon
Stav
PP10 BB will soon be packed with sages and doom mongers all with their wild predictions good and bad as long as AC sticks to his Friday deadline we should be good + if that upper c target comes mega boom 2k bpd yes please
Deepening the well by 10-15m to reach middle Eocene formation will only take 1-2 days tops to find out if the oil is there from spud. Can't think of another drill like it lol lots of short term catalysts for news
Good summary but Part 2 is already done we are churning through it now blue ocean excerised it before the 6th look at the last conversion RNS... 265k and 170k converted
Upto 1.438 billion shares can be issued total according to the prospectus (not sure about the penalty shares) We are currently at 1.2b the other shares may or may not get converted as it's not mandatory but the £9mil warrants sitting at 0.246 iconic will want blue ocean to exercise so I expect a run at some point regardless if the rest of the CLNs are taken up..
They can hold risk free until the end of the loan agreement for 12% interest (not to shabby) or they can convert the debt into equity for 10p. The fact the are converting at a large premium instead of taking the 12% speaks volumes imo..
Sounds like they got screwed over initially with the quality of the wells they had to work with against the data they were given. They have identified the structurally integral wells gives a nice price point for this relatively straight forward drill of 500m the oil is there.
https://m.youtube.com/watch?v=GV9VmQF-z0o from the 18th April states 2 weeks to set up the rig which is tomorrow then final checks a few more days so not long guys....
Still waiting for Aligns big write up which should be soon...
Whilst the manoeuvres continue any idea on the funding commitment outlined in the recent preso 'Long term funding commitment from Alpha Blue Ocean, which has financed the resolution of creditors and is committed for up to £11,359,231 of further funds'
Must admit didn't think it would go past .3 with the whole align research piece the price needs to be high for both parties to win.... BS but happy enough with my overall average