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Ed
Thank you SOO much for taking the time to reply.
I did notice in the recent Corcel presentation on page 25 indicates “Tobias Field Appraisal” ongoing until end of Q2. Makes me wonder if we will be drilling an appraisal well now after test?
Ed
I tempted to do a cheeky top up. The only thing holding me back is that as the reservoir has been tapped earlier the gas drive might not be as good as when the initial production started and this the new flowrates would be less excellent. Hopefully we still have efficient waterdrive, and who knows if new oil has replenished the reservoir, as management think, this oil might still be a bit gassey. Anyway the long term drive will always be the water I understand. Submersible pumps might also be an option later?
Any thoughts?
MattC
Give Godders a break please just let him keep moaning for a bit longer. I have some funds coming in soon to by more RKH and honestly don’t mind a bit lower share price:)
N
5+ weeks after RNS stating that testing of TO-14 had formally begun CRCL are adding the recent presentation with nearly 18000 barrels/day from Tobias when producing to Linkedin. Surely our management will already have an idea of the results so far and if not good they surely wouldn’t upload the presentation now would they???
N
OIL
Couldn’t agree more. Comforting to know.
Tx
N
Mcf
Current situation for Tobias:
Unproduced prospective oil resources estimates:
KON-11 - 65 MMBbls gross, 11.7 MMBbls net to CRCL
The resource certification is really to convert the PROSPECTIVE 65 MMBbls (or more?) gross oil resource to contingent or proven so that we have something of proven value to borrow from banks (or other financial institutions) against for RBL (Resource Based Lending) for developing Tobias.
N
Mcf I’d say up to two months only as indicated by Corcel makes sense if the CPR is only to certify the Tobias oil field and not looking at other leads and prospects in the licence.
N
TCM
Pretty much agree with all you said.
Just one note regarding Delek: They own 55% of NewMedEnergy and the USD$2 billion sale to BP/Adnoc was recently suspended leaving Delek with substantially less cash than in the near future than planned.
Kind regards
N
https://www.upstreamonline.com/finance/bp-and-adnoc-suspend-2-billion-israeli-gas-deal-due-to-conflict/2-1-1611736
“With testing underway, the Company now expects to receive initial flow tests results for TO-14 over the next several weeks and will update the markets on the results of the test programme in due course. “
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As discussed earlier (I think) we should get “initial” To-14 results any day now.
N
…next Tuesday!
Ed
Thank you for filling me in.
This one I guess
https://angolaoilandgas.com/invest-in-angola-oil-gas-2024/
N
Lsetown
What is this Texas thing? Investor/oil conference or similar?
N
Https://penguin-news.com/headlines/2024/falkland-islands-population-doubled-since-1980/
Mcf
Now that Corcel knows the outcome of the latest Angola licencing round (didn’t win any) they are in a better position to plan, finance and execute buying other assets I guess.
N
OIL
Thank you so much for the update.
Certainly does.
N
OIL
Thanks. Do we know yet what the this bond is for?
Kind regards
N
Godders…i share your frustration btw
N
Godders
On Dec 19 you complained about the 10p….now still complaining at 13p…. :)
I personally think we will see 20p soon now as the warrants are gone and we are getting more news /closer to OM, EIA, FID which again with first oil will make more exploration possible further down the line without shareholder dillution (we investors hate dillution as you well know). The potential rewards are mind-boggling. It all depends on Navitas of course but as we have seen until now they are getting things done slowly but surely. As investors realise this the share price will re-rate IF IT HASNT STARTED ALREADY.
Kind regards
N
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10 pence19 Dec 2023 19:10
Not too fussed. I woul dlove for this company to go bankrupt frankly . the entire proposition stinks. We havent had an update in i dont know how long . We are 6 pence off our NADIR when oild was trading at 30 dollars a barrel. Oli has more than doubled and yet we are still ploggind the depths. Ive seen the share price move more than itsd current MCap in a day.
Disko and Topdrive
Indeed. Also smaller oil pools within tie in distance to our FPSO(s) become very economic once the FPSO(a) are already in place.
Also we have prospective resources of more than 2 billion barrels of condensate adjacent to BOR’s Darwin discovery. This acreage is now 100% RKH so really hope BOR are able to attract a farminee to develop Darwin (they have struggled until now).
N