Beeppman,
I appreciate your efforts with a contra argument, and appreciate your concern for my forgone future profits.
I took a look at your link, a gas processing plant, quite a nice shiny one with lots of expensive stainless steel, I guess that is to handle the H2S and CO2 mentioned. Backs up Dexter's credibility doesn't it.
Really it's the DDWI that puts me off Sambuca, not the geology (which I know nothing about), nor the nearology. I've given a little more thought to the free carry ADX is giving you WER people in the say 10% chance of success. If we assume development costs of USD20/bbl and a capitalised NPV of 5 for future OPEX for a total of 25/bbl, and you are carried simply 40%, put a little simplistically ADX is effectively paying an extra USD 16.7/bbl for the oil.
I guess in the event of success (10%), then appraisal is going to be required, esp if the reservoir is not the best, so at that stage ADX would not yet pay this, they'd do a capital raising for more drilling (and dilution hopefully well above 13 cps), and effectively have an option to pay the extra 17/bbl if they can drill up good enough results. Seems to me a pretty full price to be paying for undeveloped oil under a PSC fiscal regime, esp if there may be technical/economic challenges.
Please someone correct me if I have misunderstood how the DDWI works.
Otherwise sorry, not interested in ADX for Sambuca, but you yourself might be on a winner with WER if the telemarketers aren't too greedy or dodgy. Sure you have an all or nothing gamble (not my game) but I can't see ADX on the winners side of the ADX/WER deal.
Might still take an interest on Dougga once the Sambuca outcome is known, but they"ll need to show a little more credibility and professionalism first.
Still looks to me like despite (according to you) Shell sniffing in the area, no-one in recent times has been prepared to pay more than USD 1 million for this pair of permits.
EL
- Forums
- ASX - By Stock
- 1 billion barrels of oil potential
Beeppman,I appreciate your efforts with a contra argument, and...
-
-
- There are more pages in this discussion • 4 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add ADX (ASX) to my watchlist
|
|||||
Last
10.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $59.71M |
Open | High | Low | Value | Volume |
10.5¢ | 10.5¢ | 10.0¢ | $95.85K | 912.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 150480 | 10.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
10.5¢ | 53670 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
9 | 150480 | 0.100 |
1 | 20000 | 0.099 |
2 | 150000 | 0.098 |
2 | 115711 | 0.097 |
1 | 25000 | 0.096 |
Price($) | Vol. | No. |
---|---|---|
0.105 | 53670 | 1 |
0.110 | 261806 | 6 |
0.115 | 120000 | 2 |
0.120 | 138498 | 3 |
0.125 | 219151 | 5 |
Last trade - 15.52pm 12/09/2024 (20 minute delay) ? |
Featured News
NEWS
First paediatric clinical site activated – major recruitment milestone and key appointment announced
NEWS
Biotech innovator secures $5.5M R&D tax incentive refund – major boost for cutting-edge programs
ADX (ASX) Chart |