RE: Mind boggling numbers13 Sep 2024 15:27
Fyoz
I’ve taken this from the trio RNS re Uinta 2.4well ‘producing’
“In Uintah County, Trio owns a 2.25% working interest in 960 acres and options to acquire up to an additional 17.75% working interest in the 960 acres, and also a 20% working interest in an adjacent 1,920 acres, and a right of first refusal to participate in up to a 20% working interest in an additional approximate 30,000 acres of the Asphalt Ridge Project with other third parties.” Ends
So whilst your 119 wells is spot on for the current drilling plan.
Trio doesn’t own more than 20% of it, if it takes up all of its options. That’s not a done deal yet!
Lafayette through HSO and of course Valkor ( which has the rights to utilise our technology in Uinta county) is our big partner in this play.
I’m not sure that production (to enable the 100 bbls or our samples for testing) has truly started yet though?
If you read through the Trio RNS. There’s assay results (which I don’t think are our tests I’m reading that those are to finally establish what they and Valkor have said about 10-15% diesel potential at the well head) and a change over in down-hole heater to factor in before 2.4 goes into full production.
Are we/ aren’t we testing samples from the ‘production’ of oil just completed and announced by Trio?
All very confusing but I’m happy that all of our investments are on the right track and that SB will deliver this one in good time.
The yanks are on board and moving and shaking with our stuff in their sights!
I’m topping up too. This price iscrediculously cheap