Member Info for welloilbeefooked

Page 10 of the latest presentation is worth a look - says the pre test estimate of formation damage was 8 inches and formation penetration was predicted to average 11.32 inches. There's also some very small print on the right hand side saying the rock type is sandstone which supports Keith's info that the geology is friable.

Having said that, I'm not sure if they'll be retesting this zone with the sandjet - maybe someone else can clarify?

Get the feeling things are really on the move, lots of news and action incoming imo.

GLA

The friendly largest shareholder at 43% including a huge number of shares at the last raise at over 11p.

Anyone else think a cheeky offer for the rest of the company is incoming ?

Read the outlook they gave in the Q4 update for FY24 - there’s no way they’re repaying $77m of debt this year. This is going down the extremely murky and potential death spiral of convertible loan notes imo. What respected lender would want to refinance this now. I’m out with a big hit taken. Worst investment of my life. GLA - you’re going to need it here.

The big fat elephant in the room regardless of whether this is a fatuous retort from Corica is that it’s now obvious they’re miles away from any settlement and we’re currently operating at around 20% of capacity. Ringing alarm bells?

That garden path has been constructed with a sizeable chunk of PG’s own cash and effort. No-one is forcing you along it .

I’m not against well argued factual downside comment, it just appears that there isn’t really very much of it.

The phrase “all fart and no jobby” sums it up imho

So why are you here AV? Not got better things to be doing what with Cheltenham starting tomorrow?

What a transparent wassock.

A big red flag for me is the lack of management skin in the game. You can have all the options at all the fancy prices in the future but if they’re not filling their boots at this level then there’s more dilution coming imo.

GLA - I’m out.

Here’s why - https://www.investi.com.au/api/announcements/nhe/15a0bcfe-43a.pdf

JH, from the last rns :

“Conventional larger 27/8" perforating guns are modelled by a third party to penetrate 25 - 28" into a formation, beyond the zone of formation damage. Sandjet design parameters will be modelled to achieve this minimum objective.”

Not quite sure if that answers the question but it’s likely a decent starting point for depth of mud damage.

Paul is down a few million quid on paper today. That’s a wee bit more than my 4k. If he’s happy holding I’m holding too.

This is from the rns from a couple of weeks ago

“Two subsequent well tests were carried out across the fault zone and yielded similar results from the downhole samples which were evaluated in the onsite field PVT laboratory. The Company has identified that the frequency of helium increases with depth and is preferentially carried in hot fluids out of the Basement and along fault conduits. As the helium rises through the well bore, the pressure decreases, and it is thought that the helium then comes out of solution and increases in concentration.This was further collaborated with mudlogging data that showed elevated helium whilst drilling the 8½" hole section through the Lake Beds Formation and the shallow fault zone. The well produced a continuous measurement of helium gas across the micro-GC and this consistent helium gas measurement was repeated during hole opening operations in preparation for running casing.”

CrustyPete,

The Noble ceo talks about helium coming out of the water as the pressure decreases. That’s dry gas waiting to be harvested.

From HE1’s rns last week “Two subsequent well tests were carried out across the fault zone and yielded similar results from the downhole samples which were evaluated in the onsite field PVT laboratory. The Company has identified that the frequency of helium increases with depth and is preferentially carried in hot fluids out of the Basement and along fault conduits. As the helium rises through the well bore, the pressure decreases, and it is thought that the helium then comes out of solution and increases in concentration.

This was further collaborated with mudlogging data that showed elevated helium whilst drilling the 8½" hole section through the Lake Beds Formation and the shallow fault zone. The well produced a continuous measurement of helium gas across the micro-GC and this consistent helium gas measurement was repeated during hole opening operations in preparation for running casing.”

Https://www.youtube.com/watch?si=sUqcxekfZB8xLfYh&t=180&v=SIrioxQRfPw&feature=youtu.be

Https://bnnbreaking.com/finance-nav/business/jamaicas-oil-odyssey-unlocking-the-potential-of-the-walton-morant-offshore-block

Not sure there’s much we didn’t already know here but at least they’re still talking about Jamaica

Yana, your concern for all the hundreds and hundreds of investors here is almost beyond belief.

Are you by any chance related to Mother Teresa?

Asking for a friend.

Walloper as we say in Scotland.

Divi in my HL account about half an hour ago

Could it be that they’re filling their boots with cheap new shares in the sure and certain knowledge they’re all going to make multiples from here when the jv is announced?

Profit Jock,

Let’s see if we get any support in the coming days and weeks. A thousand standard cubic feet of helium wholesales at around $450 right now. We’ve got billions of cubic feet from a couple of drills. One billion cubic feet equals $450m - this company is a golden goose and the big guys will be all over it, and not at 2p a share. Good luck going short on this 👌

If we've hit a large green hydrogen resource we'll also be entering the carbon credits market and prices there are only going one way. Interesting times!