Ann: Webinar for Block 9 Update, page-90

First 90 Last

Share
Profile

Follow
iluminaughty

2,509 Posts.

600

11/07/24

16:09

Post #: 74711543
Share

Originally posted by Kit67: ↑

Oddly - and despite the mutterings from the rascally rabble here - I feel strangely comfortable with my updated holdings (albeit, now equating to the GDP of a small African nation). Cut through all the BS today, and what we hear is that -

(a) they will not cap raise, and have no need to (so the dilution freaks can now sit back down and shut it);
(b) they will realise every single dollar of those Sonangol receivables (so the net cash position will actually improve over the coming months), and their relationship with Sonangol and CUPET remains good, workable, and forward looking;
(c) they will clean and open up A2 to produce from Unit 1B by the end of September, and finalise (and test) shipping logistics by the end of year;
(d) they will knock 7 new holes into the upper units by the end of next year, "hopefully sooner", and stimulate flow on each one (assume 2,500 x 7 = 17,500 bopd, more or less [to speculate on the exact number would be stupid])'
(e) some of the new pads have been approved, and some are in the process of being approved. Pad infrastructure on the approved pads can proceed.
(f) they would still prefer to remediate A3 (clean up Marti/Alameda, with API circa 20) than sidetrack the top into 1B.
(g) reserve estimates have been increased; and

Strangely

(h) the oil is still in the ground. it has not been abducted by Aliens, nor has Rochy sucked it out with a strawer. It is still there, accessible, saleable, and some of the unknowns are slowly becomming knowns. Contracts are being negotiated, transport logistics organised, and rigs being contracted (AP eluded to Sherritt-1 being available by the end of September - which probably coincides with a new pad being ready). Hopefully two holes in a new pad (shallow, "easy stuff") by the end of 2024 (or thereabouts).

Regards
Kit

Expand

MAY Price at posting: 2.2¢ Sentiment: None Disclosure: Held
1 Upvote

1 Great analysis

Reply

Top Stories

Brightstar tops votes in 2024 Kalgoorlie Super PITch

Revolutionary inverter technology leads the clean energy charge

From the Floor with Kim Beazley at Diggers and Dealers 2024

From the Floor with Federal Opposition Leader Peter Dutton at Diggers & Dealers 2024

RBA keeps rates steady at 4.35%, reflecting expectations

There are more pages in this discussion • 145 more messages in this thread...

First 90 Last

Add MAY (ASX) to my watchlist

(20min delay)
Last 2.1¢		Change -0.001(4.55%)		Mkt cap ! $70.77M

Open	High	Low	Value	Volume
2.2¢	2.2¢	2.0¢	$165.4K	7.793M

Buyers (Bids)

No.	Vol.	Price($)
3	520426	2.1¢

Sellers (Offers)

Price($)	Vol.	No.
2.2¢	1129165	6

View Market Depth

No.	Vol.	Price($)
3	520426	0.021
29	7934703	0.020
12	1212767	0.019
2	158730	0.018
4	356519	0.017

Price($)	Vol.	No.
0.022	1129165	6
0.023	3100000	4
0.024	3226962	10
0.025	1057511	4
0.026	915955	5

Last trade - 16.10pm 06/08/2024 (20 minute delay)

MAY (ASX) Chart

Ann: Webinar for Block 9 Update, page-90

Brightstar tops votes in 2024 Kalgoorlie Super PITch

Revolutionary inverter technology leads the clean energy charge

From the Floor with Kim Beazley at Diggers and Dealers 2024

From the Floor with Federal Opposition Leader Peter Dutton at Diggers & Dealers 2024

RBA keeps rates steady at 4.35%, reflecting expectations

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Ann: Webinar for Block 9 Update, page-90

Top Stories

Brightstar tops votes in 2024 Kalgoorlie Super PITch

Revolutionary inverter technology leads the clean energy charge

From the Floor with Kim Beazley at Diggers and Dealers 2024

From the Floor with Federal Opposition Leader Peter Dutton at Diggers & Dealers 2024

RBA keeps rates steady at 4.35%, reflecting expectations

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News