update fyi

There seemed to be some confusion out there regarding timing, etc of Holdfast so I have had some more in-depth discussion with BPT and am posting accordingly for those that are interested.

As per my earlier post, fuel is on site and drilling and coring has recommenced. As I understand it, the 8th core is being taken out as we speak (most likely from Epsilon). They have recently had 50 mm of rain but they are still drilling and now have 30,000 litres of fuel on site.

As per my earlier post, they plan to have sufficient fuel, etc to enable drilling to TD. They are expecting TD circa 4 weeks.

They do receive constant weather updates which are historically very accurate. They expect rain will commence toward the very end of the drilling process and continue till around the beginning of the Fracking process.

They are also planning to have the Fracking rig and all adequate supplies to be in place and ready to go for May 1st, which means they do not expect delays due to road closures as they plan to be well prepared supply wise.

I suggested that some consistency in reporting would be beneficial, meaning that the weekly reports should have specific boxes to be ticked (gas shows, etc.)

Following that comment it was mentioned that management have been in discussion with Technical regarding gas shows. Technical have confirmed gas shows for Holdfast appear consistent with Encounter at this point in time.

I personally don't expect 100 metres this week but bottom line is everything is on track and looking extremely good outside of a short term weather delay which has to be expected from time to time.

Hope this helps clarify the current state of events! No doubt, we are lucky to have BPT as the operator for PEL218!

As for ADE, this is insane value with MASSIVE leverage and upside potential at this price point.

Finally, and to my delight, world events have had no impact on drilling, gas shows or Fracking preparations!!! (Removing tongue from cheek now!!!).