Mate it's PNOC driving Nido to drill we are selling it to...

Mate it's PNOC driving Nido to drill we are selling it to blue sky resources for an overriding royalty 5% over 5000 barrels I did see couple years ago figures of 10-15k barrels from the two appraisal wells I mean the casings for offshore are a lot wider so they should flow faster than onshore discoveries. Main aim is that drill ship will be off Phillipines coast for years with SGC to farm back in to the drilling of balyena in sc58 within a year or so if they can get the cash up. PNOC hoping to replace Malampaya gas decline the oil wells are the appetisers. That's a TCF+ prize contentious though nesr the 9 dash line.

So we have free carried on two appraisal wells next year Q1 spud. Maybe $15-30m usd on success per annum. The main game other than that is SGC and XST announcing what they are doing in California imo and that could mean two drills spinning for SGC in Q1 next year. I'm hoping they finally can produce some blue hydrogen from Borba seeing as it cost $USD 5m to drill and is sitting idle and idled capital asset of $5m should be producing gas or gas to hydrogen atm!

I've backed this heavily now based on the belief these guys have been trying to build a portfolio for a decade. Surely with the directors taken shares in lieu of payment they are hoping to drive the market cap up substantially a shell becomes something else small to mid tier oil and gas and renewables producer and explorer.

Hopefully Gary is aiming for $50m valuation for his 5% holding into retirement. ASX 300 within few years ha ha I mean technically if he's only a technical director now he could review potential targets remotely from home to the cows come home if it's something he finds exciting it's not work. That saying about cows come home is actually pretty funny in California atm apparently you get more from combining gas to hydrogen (Grey hydrogen) & cow manure hydrogen (becomes blue hydrogen)shipped in from New York with the credits from Californian govt than if you did a pure solar / green hydrogen play. Enviro Legislation in California can be your friend!