Bid 2.25p … WTF?
Where next? Below 1.8p? Often the SP falls below placing doesn’t it?
This is damn ridiculous. We were at 3.7p before the heavily discounted placing for Serenity … for a slightly better than 50-50 chance of success. A coin toss, and if it lands wrong?
Where would the SP now be if it wasn’t for Serenity? 5p? 6p? 7p?
BV, tbh, the issue with the compressors is a bit confusing to me but I didn’t give it much thought.
The process flow diagram submitted to the EA/NSTA shows a requirement for two compressors - 1st stage gas compressor before the dehydration package, and, a 2nd stage gas compressor after the J-T package and this makes sense to me. However, GL said there is only one compressor installed at site I think and this would mean a design change and removal of the second stage. But, GL referred to 3 compressors. Note that there is space for a third Booster Compressor to be used in the future when the well pressure drops. So, I don’t really know what is really happening with the compressors, not without looking at a Piping & Instrumentation Diagram.
Anyway, I am not concerned. As GL said in an answer to an IQ that all compressors are sized for 10 MMSCFD.
Adding another compressor in the system though, will definitely require a shutdown and I don’t think we want this now, seen the problems with start up. Let’s get some cash in first :)
BV, correct … that is excluding the SFB condensate (significant at 50 bopd, could now be more) … and excluding the Brockham revenue …
Hold tight mate, I detect a lot of turbulence ahead!
Warrants are holding the SP back for now, but those warrant holders will very likely end up regretting selling this low.
I have run some calculations in quite a bit more detail and I repeat again:
5 MMSCFD covers full hedge commitments, including deferred hedge at 200p per therm, yes 200p. At 200p per therm,
5 MMSCFD at 200p per therm gives Angus
2022 - £3.7 mil
2023 - £5.6 mil
2024 - £13.5 mil
2025 - £27.7 mil
2026 - £39.7 mil
10 MMSCFD at 200p per therm gives Angus
2022 - £13.7 mil
2023 - £45.2 mil
2024 - £53.3 mil
2025 - £67.4 mil
2026 - £79.4 mil
This is HUGE … better than a gold mine. Stratospheric!
I am sitting tight, buckled up, holding on my hat and enjoying the ride. I wish I had more spare cash to add some more at this level. However, these are my calcs (and I stand by them) but each to their own and good luck to all.
5.88 MMSCFD …..
A4 - 2.82 MMSCFD
B2 - 3.06 MMSCFD
Total: 5.88. MMSCFGD
Buckle up!
https://twitter.com/yanis_2005/status/1572875223942176769?s=21&t=FOJFHlDVSu-YB0MeZTwd3g
Herbert, You put it better than me - fully agree.
Appraisal or not, I was not expecting this well to be plugged and abandoned - and looks like the market in general was not expecting this either.
I follow fundamentals and technicals and in all the time I been invested in EOG I have never seen the technicals this bad. The sentiment is killed.
In all my time in AIM (and spans a few years) I never seen a company’s SP drop like a stone when the drill starts. In fact one company with only 20% chance of success went from under a penny to more than 5.5p. I don’t think the EOG SP will now move up before drill results. And then only if the drill is successful. And then again depends on how it will be announced.
In AIM Sentiment is King.
Facts are facts - the SP is dropping like a stone instead of doing what is suppose to do and shoot up - Why?
I blame the PR for it and the “prudent” £1 mil loan.
CCF, that is exactly my point. The RNS could have been written differently/ further explained - not all invested here are oil experts. Is only words, no additional cost to make the RNS a little longer.
In my case, it is the first time I heart that the well will be “plugged & abandoned”.
Thanks Tacuma. Is terrible that we cannot discuss an issue in a civilised manner.
Simple point here - not all invested in an oil company know the ins and outs of company operations, just like those invested in pharma.
Selfish, is that the level of your integrity? Reducing to personal insults? Anybody questioning should not be invested in AIM?
I could reciprocate, but will not stoop that low.
Look at the SP performance FFS. Is the SP doing what was expected to do at this time? Was it you that was predicting 4.5p by spud? I don’t remember who it was.
Here it is https://mip-prd-web.azurewebsites.net/DataItemViewer/ViewReportDataItem
Asher, I am going to say it again …
5.5 MMSCFD covers the hedge commitments fro now to the end of the hedge + money to Angus.
Any revenue from flow increase due to the sidetrack is all to Angus … For each MMSCFD at £3 per therm is £1 mil per month … Happy Days … we waited long enough
We are sitting on a gold mine here … and you guys are arguing amongst yourselves … you are going to miss the spoils if you are not careful.
Is all good now, enjoy. Third consecutive day today with flows above 5 MMSCFD … is stabilising … trips are being eliminated.
Soon the RNS will land … flow stabilised at 5.XXX MMSCFD and sidetrack spud day announced …. ££££££££££££ are coming in
Cheers.