yep that's pretty much the million dollar question. This...

First 15 Last

Share
Profile

Follow
Sunfire

792 Posts.

170

04/05/23

20:43

Post #: 67614814
Share

Originally posted by SpiderMonkeyZ: ↑

Slow progress here? The 13.4bcf prospective resource has made no progress on paper in almost two years towards being upgraded to contingent resources and eventually reserves?

Around last September year BNL was about to receive an updated resource projection from Sproule for Galactica/Pegasus including an expectation of contingent resources. It appears that information from Sproule has not been shared with shareholders for whatever reason?

Without proven reserves needed for debt finance in my opinion the only options are more drilling to try to prove up some reserves or potentially try to get some revenues from hiring a processing plant which BNL appear to be doing on the small 0.6bcf of helium side project at Voyager. What isn't clear is the number of wells needed as I don't see a flow rate? 8.8% helium is great but will it definitely flow and will the flow rate be 100mcf/d so as many 20 wells are needed (hired processing plant can process about 2mmcf/d = 2000mcf/d of raw gas I think) or something much better like 500mcf/d per well at Voyager? Hence it looks like the flow rates at Voyager will be important if development wells for production with a hired processing plant are like maybe US$0.5m per well?

Expand

yep that's pretty much the million dollar question. This company delivers slower than Australia Post.

I don't know how the company can talk about first revenue when they don't even have flow rate data.

Utterly mind boggling

Last edited by Sunfire: 04/05/23

BNL Price at posting: 2.9¢ Sentiment: Hold Disclosure: Held
5 Upvote

2 Great analysis

Reply

Top Stories

ASX Market Open: Futures rocket on 'total and complete' Israel-Iran ceasefire | June 24

SFX

Sheffield Resources spruiks 'pleasing' maiden MRE at South Atlantic Project

Listen: HotCopper Wire Podcast 014 – Abu Dhabi wants to buy our 'true' oil and gas gem

ASX Market Close: Middle East War rattles investors | June 23, 2025

Markets were expecting Trump to bomb Iran. It's just another new normal

First 15 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

(20min delay)
Last 0.6¢		Change 0.000(0.00%)		Mkt cap ! $14.82M

Open	High	Low	Value	Volume
0.6¢	0.6¢	0.6¢	$758	137.8K

Buyers (Bids)

No.	Vol.	Price($)
33	8046618	0.5¢

Sellers (Offers)

Price($)	Vol.	No.
0.6¢	1759554	3

View Market Depth

No.	Vol.	Price($)
33	7879161	0.005
19	18850411	0.004
11	16810668	0.003
6	20032500	0.002
4	27405000	0.001

Price($)	Vol.	No.
0.006	1922975	5
0.007	5570544	15
0.008	12410329	30
0.009	4841144	12
0.010	3983855	7

Last trade - 15.56pm 23/06/2025 (20 minute delay)

BNL (ASX) Chart

yep that&apos;s pretty much the million dollar question. This...

Top Stories

ASX Market Open: Futures rocket on 'total and complete' Israel-Iran ceasefire | June 24

Sheffield Resources spruiks 'pleasing' maiden MRE at South Atlantic Project

Listen: HotCopper Wire Podcast 014 – Abu Dhabi wants to buy our 'true' oil and gas gem

ASX Market Close: Middle East War rattles investors | June 23, 2025

Markets were expecting Trump to bomb Iran. It's just another new normal

Buyers (Bids)

Sellers (Offers)

yep that's pretty much the million dollar question. This...