Member Info for wraith

We appear to be of the same view, Ibroxonia.

BW

Been mostly invested in the Gold sector, from the start of this year,...been bringing some of the profits back into the Oil & Gas sector, since June this year, brought some more back this week,...still holding Gold shares though, just at reduced levels.

BW

Yeah, with our present Market Cap, of £9.98m approx,...what we shareholders get,...farm-out agreed,....carried to production,...warrants exercised, at an exercise of 1.2 pence each (equivalent to a Market Cap of £10.42m approx), raising £39,999.99,.....bought my first LOGP tranche of shares back, at s/p@1.3125p,...happy with that, will look to increase, as opportunity presents, with my initial target being, to bring my Gross average down to s/p, sub-s/p@1.2p.

BW

From what I have read, the US frackers need about US$60 a barrel Oil Price,...if I remember correctly, our break-even is around US$23 per barrel,...I have bought the first share tranches, of LOGP & PVR shares back so far,...was considering buying second tranches in PVR & LOGP today,.......I have been bringing some more Funds, back into the Oil & Gas sector, this week,...decided to wait for a bit, before increasing PVR & LOGP, to see just how low, the market was going to take these two,...increasing two of our other shareholdings, in the Oil & Gas sector instead.

BW

Only time will tell, Tovoc,.....according to the below article, dated 22 Sep 2020, US shale production needs US$60 a barrel Oil Price;-
Extract:
"Houston — US shale oil production can reach new highs beyond the 13 million b/d mark achieved in late 2019, although it will take oil prices of around $60/b for that to occur, panelists said at an energy conference webinar Sept. 22."
Source: https://www.spglobal.com/platts/en/market-insights/latest-news/natural-gas/092220-us-shale-production-can-reach-new-highs-beyond-13-million-bd-but-needs-60b-rystad

BW

Yes, I saw that presentation ( https://www.proactiveinvestors.co.uk/companies/news/932354/providence-resources-ceo-alan-scott-linn-presents-at-the-proactive-one2one-virtual-forum-932354.html ), thewackmiester,...personally I like the farm-out, resulting, in me buying a positions back, in both PVR & LOGP this week, on the retrace,....I agree with your view,....today, I thought it prudent, to increase (with two T2 Buys) our PRD shareholdings, held in our two ISA's,....as we are now, also getting closer to the Morocco drill, (resulting in our Gross average sub-s/p@0.77p,...instead of being free shareholdings),...but still leaving plenty of room, to average up, on any s/p weakness, going forwards.

BW

I already am, ivans,...took two more 110,000 share tranches (T2's straight into our two ISA's) today,...over the half-million mark now, with our Gross average s/p level, coming down very nicely.

BW

Yes, it is looking good here at PVR & LOGP, ROCKLAWN,...just pleased, to have been able to re-enter both, at these low levels,...I would not normally, have started, with such large (for me), first tranches.

BW

Hi Tovoc,...I believe US$45 bopd is a conservative figure, that you base your calculations on,...personally, I'm using US$60 bopd, when looking from the second half of 2021 forwards,......as this article points out ("About $80 billion of capital expenditure cuts in 2020 have already been announced, which represents a more than 30% decline over 2019's investment budget in the sector" https://www.cnbc.com/2020/09/15/oil-demand-shock-could-be-spurred-by-second-wave-of-coronavirus.html ), investment in the sector has had a huge hit.

BW

Thanks for the link ( https://www.graphic.com.gh/elections/ ), Bridges.

BW

Should read: and flows at a lesser "rate" than the Djeno wells.

BW

They will probably start, with the TILAPIA Mengo horizon, which is above the Djeno horizon, and flows at a lesser than the Djeno wells, (IMO).

BW

From memory, our target at AAOG, was to drill 8 to 10 Djeno wells,...then there is the deeper horizon to test, below the Djeno horizon, which flows at a much higher rate, than the Djeno wells.

BW

Still holding AAOG shares, as I have said before, followed the TILAPIA asset across, it's the only reason I bought into ZEN shares;-

"test the Djeno Sands Horizon, where adjacent wells are producing approximately 5,000 bopd"
Source: https://www.aaog.com/content/news/archive/2019/060617

BW

That is exactly what I was thinking, Mithun,...the upside on TILAPIA is enormous, (IMO).

BW

Thanks for the input freeshare,...in my case, have left a small free shareholding here in CLON,...also left a free shareholding in PET ( with an equal number of share, held in both PET & CLON),...so very comfortable, to hold both indefinitely.

BW

Yep, we all knew, that the dilution was baked into the mix, but it scales up (to s/p@3p,...when the kicker activates, at s/p@4.5p) nicely...better to have 75%, before going after the 4 IOCG targets, (IMO).

BW

Wasn't following the s/p's closely, on the farm-out news,...was waiting for the pull-backs, did not expect the LOGP & PVR s/p's pull-backs, to come back quite so far, so quickly,......this prompted me to stay up & look more closely into farm-out & more recent news,...having got up to date, with the more recent news & farm-ouut, I decided to take both PVR & LOGP, straight to six-figure shareholdings, as I rather liked what I read & heard in the videos.

BW

With the Morocco drill taking the spotlight, I tend to ignore the CO2 EOR, which was the original reason (news of cornering CO2 supplies in Trinidad), I bought into PRD, Jimmyjesus,...just caught up with End of Year Operational Update, dated 7 December 2020 ( https://www.londonstockexchange.com/news-article/PRD/end-of-year-operational-update/14782098 ),...that's the sort of update, that makes for enjoyable reading.

BW

Could they not have forward sold them on a T20, into the strong s/p rise, on the farm-out news s/p spike up,...that's what I would have done, if I did not wish to retain the shares, Ibroxonia,...anyway, we go ASK Sub-s/p@1p, I will back the truck up, on that farm-out news,....bring it on. ;0)

BW