RE: Discord20 Oct 2025 22:52
Cb pad – cement poured, rig move in next week or so, spud November (confident on this) target number around 10mmscfd and should all (a majority) be at higher pricing based on the optimization work already done (see below)
- Cas 5 hook up going well, should be very close to the target (by end of October)
- CB was 17mmscfd when took it over, up to 23mmscfd at the weekend so above the magic 22mmscfd, but needs to be that or above on average for the full month, key thing is any new well there would be at higher pricing due to optimization work they’ve done
- On the financing, multiple plates spinning, not likely it will go into next year, will be a solution this year, still option of waiver however probability of that doesn’t sound super high, looking at joint ventures etc, if did a raise then would be rights issue and option for existing shareholder, also aware while they try explore other avenues and the SP drops it makes it harder.
- Ideally would get more II and also even one of these on the BOD, fresh blood and suggest longer term holder, not just flipping placement shares.