I have just finished speaking with one of the representatives of ROG.
The photo of the well is of DW1 in Killanoolla. Production to commence once activities notification has been completed and approved (roughly 35-40 days). To facilitate oil flow an additive is to be combined with crude at an initial ratio of roughly 30% (heating will also be utilized). The presentation today stated that they were targeting 30 mbbls of crude of recoverable crude, this amount is only for DW1. However new 3D imagining has increased PIIP indicating that there is a continuous anomaly that connects with the South Well which is scheduled to brought online mid to early 2024 with a third well to be installed to assist extraction. It is believed that realization of achieving the best 135.5 mbbls once three wells are online.
Avita has agreed to pay market crude oil prices/bbl which at current is $87/barrel.
Innamincka has been producing since July with first revenue to be paid over the next 1-2 months.
Further 3D assessment of Innamincka is currently underway results imminent.
ROG Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
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)