Carlsberg E&P video!18 Feb 2020 12:11
8mins 30secs in, coho on line July doubles the company from where we are today. That’s cash, is gas, Capex is negligible. RNS’s when on line
11:20 in Cascadura 6000boe with only 20% draw down just from lowermost 160’! There is about 1000’ of pay! 1 continuous sand, now perforating next 350’, expecting same another beast RNS! On another presentation PB said they were going to drill another well at Cascadure to completely test all the levels. The ‘beast’. More RNS’s
13:30 Chinook, looks a lot like cascadura but not changing Cos as not tested hydrocarbon, April, 13:40 drilling up structure where they have found hydrocarbon shows as similar (Cascadura) but sands here are thicker...More
14:10 ROYSTON! The biggest targeting 700’ pay. Deeper, so can pack more HC in. Was drilled in 1965 by Shell and logs indicated gas.
£3.4m in cash and positive cashflow, 4 wells costed all production goes to bottom line! Not to mention the program with 200 odd more drill targets!
I’m with Dana with £3 target. Cascadura alone should secure that with £100m revenue then just either or from Chinook or Royston which if same geo will have massive payzones.
Just closed my 2nd short on HSBA (which I posted over there) and it’s all going in here, £1 is still cheap and the best of it is the gains so far are underwritten by production and results so imo as near as possible all the risk is to the upside. E.g I am in BPC and if they have a duster it’s possibly curtains, or where Hur have been successful but the market has punished them for the finance and dilution. TXP are banking results, self funding and moving on with no dilution.
Trek
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