NOPTA Sunrise Date and Bullish Summary

Response to Knight16's post

The report received from Add Energy documents the Basis of Well Design (BOWD) andrationale for design of the well, the well cost compilation and the project schedule.At no pont have they said they are "drill ready"
Unless you can provide evidence?

28/01/2020
Bounty and Asset are now moving to a drill ready status for PEP11 . The current permit expiry date is in March 2021.The application to NOPTA includes the extension of the permit title for up to two years to enable the drilling and includes an application for the removal of the requirement for a 500 sq. km 3D seismic program. The Joint Venture will further update the market on the timing of these approvals when detail is available.

07/02/2021
Although the application to NOPTA was to extend the current permit commitment conditions, the Joint Venture is committed to proceed with the drilling of the Baleen well in PEP11 as soon as the necessary preconditions and permitting including environmental approval has been satisfied.

Once again, doesn't say 'drill ready'
"The scope of the work..." has been completed (see below)

09/04/2021
The report received from Add Energy documents the Basis of Well Design (BOWD) andrationale for design of the well, the well cost compilation and the project schedule

As advised Advent now intends, subject to approvals and funding, to undertake deeper drilling toalso undertake evaluation of the Offshore Sydney Basin for carbon sequestration (storage).

^ funding from where? Maybe the CCS Fund?

Further to this the current COVID suspension and extension is requesting further information.
According to the application requirements, "Work program including expenditure" which was announced today!



"The Basis of Well Design report is now being assessed and further announcements will follow."

Fair to assume it is being assessed by NOPTA.
This is what they have been waiting for.

Further, regarding the COVID extensions, this info is available on the fact sheet:

"By offering flexibility the Joint Authority is seeking to ensure continuity of exploration effort, rather than a reduction of effort by way of exemption from work program commitments."

"Typically, in accordance with section 3.15(a) of the Guideline, the Joint Authority has placed expectations on titleholders to drill wells within the first three years of the new permit term, when no well was drilled in the previous term. The Joint Authority notes in these challenging times, financial and staffing restraints may limit a titleholder’s ability to meet this expectation. As such there will be flexibility when considering proposed alternatives."

NOPTA would have approached Advent et al. to apply for the COVID extension, they want exploration to happen.
Up to 3 years to drill a well when one hasnt been drilled in the previous lease term.


FLAMBEAU'S Facts opinion of the week:


Financial: Short on cash? (I bet that counts)
Physical: Future rig availability constraints due to COVID? (Rigs come from overseas as well, not just Australia)


FLAMBEAU's Election Prediction

Between Port Macquarie to Nowra there are over 6 Million people.
Of those 6M, 80,000 signed the petition to stop pep-11.
Now if we are assuming those numbers are legit ... that's a whole 1.16%
So 98.84% of coastal residents either aren't worried if it's approved or not, or they support it.


ScoMo against PEP-11?
I doubt it...

Only a couple months ago he was all for it.
If you were done south in greenie country would you openly suport it and get reemed by the reporters?
Didn't think so.

TA:
Spinning top (Bullish) signalling the end of a down trend.
Falling wedge (Bullish)
2/8EMA getting ready to cross (Bullish)






TLDR:
Advent/BPH on track.
Diamond Hands, Rocket, Moon, Lambo soon, tendies.