Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
Also noted that it takes a barrel cost of $48 to drill a new well at profit but only $23 for existing wells, which makes Longhorn look even more attractive 320 x 60 x 365 = £7M with a target for year end of 600 x 60 x 365 = £13m
(less 36%) = $4,5m and $8.3M for 2025 onward (minimum)
Older, you cant just dismiss an instantaneous rate,it was over 30 min and would gave a figure of 74.4bbls per day, but accept 42bopd over a test period of 10.5hrs just because it suits your agenda. Similarly you cant dismiss 50bopd from a calculated peak rate from a 16hr test showing 170bbls per day
USFS 70 x 12 = 840 barrels
SMDB 50 x 12 = 600 barrels
Total from only 2 of the 6 reservoirs = 1440 barrels per day (because it suits my agenda) which is about $21m pa (@$40pb)
Correction, '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'.
It reads that the 4bbls of oil were included in the 170bbls and were still in the process of clean up so not a true reflection of oil raised over the 16hr period. And figures were improving until time ran out. I still think its been latched onto by derampers but is a red herring.
I'm reading it and it appears to show much better figures for test one or is down to interpretation? No mention of the 4 barrels, I guess it is just a red herring the derampers are (still) using to devalue 88E.
This new release can only help the SP.
Scot, I thought those rights issues were for selected institutional investors? Not open to the public or directors? I'm sure at least one of them was restricted as I took up one of the raises last year. It may have been a different type as I'm sure I also had free shares along with the raise.
As for Ashley Gilbert and other directors not involved, we have no idea of their financial situation and I found it ludicrous that one of your select few suggested that management forego their wages for shares. I'm sure their bank would love shares instead of cash to pay for the mortgage etc. He also cashed in some of his superannuation in 2022-23 so he may have had a need for cash. It is not mandatory for staff to purchase shares.
Scot, I have thanked you in the past and appreciated your advice, but today you sunk to a new low.
As for your assumption regarding restructuring and desperate for cash, all that disappears if they find a partner. And I believe it is the 1st June not the end when Namibia has to be paid, strengthening your argument.
You are doing your utmost just by asking the question, as that alone can put doubt in someone's mind, to put fear of failure in peoples thoughts. You have gone beyond the facade of helping others, nobody believes it, there is no reason for you to be on this board, I for one do not invest on comments from a chat room. I do respect Older for previous support and learning but again I would not buy or sell anything on something he said. I have not binned anyone as yet.
Just to clarify that it can happen, I have another oil share who recently made a deal with Chevron for a lease in Uruguay, today they received a request to buy in from Charlestown Energy. This was perfect timing as they had to place money they never had but CE have effectively gave them a loan until Chevron pay them $12.5M due. It can happen, and at a premium not a discount as CE will buy shares at 20% above today's price and will be a major shareholder with 8%. That kind of throws out your expectations of 88E dilution at a cost. And my company shares went up today on the strength of that by 10%.
The most shares they can release this year and after the agm is 15%. If they pass the request for a further 10% the max will be 25% without shareholders approval. If they want more dilution it will be put up at next years agm or a special gm called. Either way I'm not concerned as the company is sitting on the equivalent of a gold mine :)
Goldwater, I'm sure you realised that it was a gross total you estimated and that you were fully aware that costs had to be deducted. No need for anyone here to tell you basics but I guess there is always one.
Scot, still sounding desperate, and still banding on about your poor relation barrel price. Shame on you for coming onto another company board to try and get holders to 'swap' their investment to a company that its self is struggling to find partners and investment. I didn't listen to others who said you were a deramper but today you have shown your true colours. It's bad enough that you tell 88E holders that they should be selling but to wrap it up as useful helpful advice with the only reason being to save them money, is unbelievable. Shame on you. You say you don't lie but I doubt it very much, you are definitely in this for financial gain. Nobody believes you who is a holder here and unfortunately I include myself in that category.
I'm with you Uscita, it's social enough on here without having to meet people face to face with drink in their hand. I would like to attend an AGM at least once. I have various other companies but I live too far from mainstream.