How long does dewatering take ?
The foregoing is not investment advice and readers should do their own research.
Having said that I really appreciate just how hard it is to do that and how confusing it must be for shareholders when a number of different opinions are expressed by posters.
I always try to balance facts with carefully expressed analysis.High Frequency Trading
Been going on for years as this link from the ABC who IMO are defiantly not conspiring with the Galilee board and CEO to hide information on the Glenaras pilot in order to defraud shareholders !.
This link has been well researched by the ABC and my take on it is that there is nothing GLL shareholders can do about this type of activity.ABC News Updated 11 Apr 2012, 1:45pm by Alan Kohler
https://www.abc.net.au/news/2012-04-11/kohler-high-frequency-trade-parasites-at-heart-of-asx/3943052
Just cut & paste it if it does not open.IMO
* The computers mentioned in the article are very sophisticated and are as good as impossible for retail traders to beat.
* They have their own agenda and do their own thing although I suspect they may be used by institutions to purchase their portfolios at reduced process.
* Some of my mates have been caught when the tide does turn because the computers have the trading speed to beat buyers on a rapidly rising share price.
Glenaras Pilot
I have already posted on the Glenaras dewatering question prior to the 17/12/2019 Update.
My take on the latest update is that the new pump is working as expected and that the small scale pilot configuration is unlikely to need further modification.
Put simply the pilot configuration is almost fully derisked and it is just a matter of time now before we get significant gas flows.
My Opinion.
Because of the low permeability, once critical desorption pressure is reached that gas flows will increase very rapidly.
Cut & Paste from the latest Production Update.
" Pressure build-ups observed during well maintenance shutdowns show that we are making material headway on reservoir pressure depletion within the Pilot area.
While not below critical desorption yet, it is encouraging to see this steady decline in reservoir pressure.
Once this pressure is below the critical desorption level, gas rates are expected to build significantly. "
A Bit of fun speculation though... no conspiracy here just looking at it through the eyes of a transaction based buyer...
* They will already know that the pilot is very likely to get 500 PJ of 2P and need to move before Galilee knock off more pilots and double or triple the ante particularly since they have 500PJ/f 2C on one of the new tenements and are progressing them rapidly towards their development.
* They will want to get in early before the pilot drills start drilling in order to get a better deal.
* They will probably be talking to Jemena could even be discussing haulage rates to Wallumbilla.
* The first thing shareholders will know about this is a trading halt.
* Any one who attended the AGM would gain the impression that the core shareholder base will bounce any low offer.
* My industry associates who hold quite a significant number of shares have a pretty good idea of what the transaction offer should be.
That's enough.
Hope it helps.
Regards OGP
