Simple answer to your questions is that Red Rocks next door is...

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OzTrucka

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15/02/24

08:39

Post #: 72414526
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Originally posted by HellerEcon: ↑

I sold a tiny bit more today:

This news is encouraging but I think we need to highlight the reality as other posters have alluded to, would love someone to address:

-"up to" is very common in BNL speak
-Bolling is looking workable, how does this bode for the other wells?
-Were all 20 well meant for production or were half of these offsets? I'm not sure- Mastatrada's math looks accurate just don't know if they intended for 10 or 20 wells
-We really don't know the cost of getting this out of the ground
-The language Trent used with me is "it is worth noting the planned development CONTEMPLATED the wells being on vaccuum from the start", so does not appear this has been purchased
-The IACX plant lease was likely negotiated using a flat monthly fee, not fee per MCF processed.

My main concerns:
-Is the price of helium still high?
-Is 38mmcf still achievable or are we looking at half or this, given the % helium and flow rates?
-Is the cost of production going to be 2x if production volumes are only half?
-In short- is this still a viable project to operate.

I can't see how a CR in q4/q1 next year won't be necessary, and I anticipate at quite a low (sub 1 price). Cash flows are still aways away and won't be enough to supplement the costs of new extraction methods to fund Voyager to full operation. That is if it is likely to be worth commencing production to begin with.

I remain hopeful and still hold on to some shares but I think we need to realise there is a real risk Voyager could be too expensive to bring online or in a better case scenario at CR will be done at a price which dilutes us all signficantly. I've dumped 75% of my holdings now between .019 and .012 at a loss. I will gladly buy back when the CR is completed at a higher or lower price with clear comms re: financials.

The rest I'm still on for the ride and realise the real risks. Lets use this forum to ask intelligence questions and better understand our investment rather than call each other names/post rockets. We are all in this together.

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Simple answer to your questions is that Red Rocks next door is doing exactly what you're asking
Is Red Rocks doing it for charity or for profit
There's your answer

BNL Price at posting: 1.3¢ Sentiment: Hold Disclosure: Held
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