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Very exciting times ahead, remember the more BOPD the quicker the project will gather pace and deliver the other 2 wells as spoken about in the CPR (Road map will be altered to suit).
Lets hope that the results land soon and production will be reported once first load has been extracted.
GLA Wontongue
The biggy for me is the significant upturn in reserves from the CPR in December 2022, alos production and revenue starting hopefully next week.
A company is priced on its reserves and if this has gone up significantly then the sp will also.
GLA Wontongue
These results imply significant upside to the reserve range assigned to the Stockstadt Mitte segment in the CPR published by the Company in December 2022, and this will be the focus of one of the post-well projects.
Is my math correct?
So going off original pre drill estimates of 2P oil reserves of 3.784mmbbls we can work out the profit margin by adding the profit per barrel (50 dollar) by the original figure 3.784mmbbls = 189,200,000
And the reserves seem to be now estimated at SIGNIFICANTLY higher than pre drill estimates?
Never been my strong point but popped in to my head earlier.
GLA Wontongue
Until we get a whiff of news this should stay at the current level, P,I's and I,I's quietly loading up before the transformational news lands.
They will then decide to go all in once the figures have landed and can be 100% sure the same as the rest of the eagle eyed punters who will be wishing they got in earlier as always.
GLA Wontongue, news this week IMHO
HMS stop leaving out important info that does not suit our agenda.
The electric wireline well logging has now been conducted in the well and is interpreted to have encountered good quality oil-bearing reservoir in the Meletta and the PBS reservoirs with porosity ranges above pre-drill expectations. The initial evaluation of the logs over the PBS indicates a 34-metre gross interval containing 28 metres of oil-bearing net reservoir, with porosities averaging 18% and up to 28%, all of which significantly exceed pre-drill estimates.
The update will come when the company sends it, a good company does not update everyone to satisfy their insecurities about their investments.
They update when they have news to update.
GLA Wontongue
Definitely a show of confidence from the BOD with the tweet, They have seen the results and are preparing the RNS, if the results where average there would be radio silence until RNS yet we have had multiple press releases stating well above expectations along with a good SP spike recently.
Bring on the flow rate RNS!!!
GLA Wontongue
How refreshing i is to see a CEO who is very happy, informative and beaming with confidence about the prospect of the project ahead.
Thanks for the info good times ahead.
Stupidly low prices here compared to 6 months time.
GLA Wontongue