Anglo Asian Mining Share Discussion Threads

[terropol] 20/2/2024 09:26

Michaelfenton, I am with you on that. Dividends should come back in near future.

[laurence llewelyn binliner] 20/2/2024 09:22

#3Sporrons, I also have 2 misses pencilled in for 2024, perhaps something in H2-2025, but as you say we have some debt, a tailings pond extension, + 2nd build WIP, some fleet finance and some mine build CAPEX coming up to pay for..

Until we can get the flotation plant + Zinc circuit extension online we will not be going anywhere..

[all in eol] 20/2/2024 09:09

Thanks pogue / bumpa33

Out of my AAZ trade at 60p.
Into PRD at 7.93. Out at 8.355

Much more fun than being on the wrong side of bad news and low price placings….

[michaelfenton] 20/2/2024 09:03

I think the Divi will be back sooner than expected. Hopefully the end of 2024 or early 2025?

[gutterhead] 20/2/2024 09:00

I hope you’re timing re div resumption is incorrect 😬

[2sporrans] 20/2/2024 08:57

9 months ago, guess the on news buying would have been far stronger and likely hit a [2023] share price high of about 130p.
Who knows? if the dam raise + new facility go ahead news comes in good, might at least get back over £1.

Not expecting a divi restoration until 2026 now; debt paydown and CAPEX will preclude.
But fulfilling the strategic production plan can get fully back onto its rails in matter of a few months, Azergov willing.

[wanobi] 20/2/2024 08:37

whereas EEE Rb !!

[riggerbeautz] 20/2/2024 08:29

Doesn’t look much of a coiled spring at the minute. The dangers of staying in until news eh.

[bumpa33] 20/2/2024 08:16

Market makers are flushing out margined/hot money first thing. Sure it will bounce at some point…

[pogue] 20/2/2024 08:13

yes they might close that gap today at PRD. The reason why MOU1 was never tested before is clear now it has been hinted at before that the well was not perfect hence why sandjetting was the preferred option. Why do the rigless testing though if this is known? I suspect they were forced into this testing but who knows. Sandjetting the well is make or break for them now. Could be a good point coming to buy in for that for the gamblers out there. No date currently known for that event though. Management seem pretty sure there is commercial gas there but who knows, place your bets.

[master investor] 20/2/2024 08:07

I have a buy order in at 6.6p. Theres a harmonic reversal pattern at the 113 fib extension which lines up with the gap perfectly.

[bumpa33] 20/2/2024 08:05

V Heavily bid here so Mm’s playing the usual…?

[wanobi] 20/2/2024 08:02

free stock charts from uk.advfn.com


mind you, there is a break away GAP lower down!!

Hmm

[wanobi] 20/2/2024 07:57

too much, surely!!!

I mean too much of a drop!!!

now let's see how wrong I can be LOL :-)

[bumpa33] 20/2/2024 07:55

PRD making a mess of things by the look of it…?

Pre mkt 7/8. Too much or not enough?

[avsome1968] 20/2/2024 07:52

AXL // MORE PAY DIRT

CN-4 Well

The CN-4 well was spud on January 17, 2024, and reached target depth on January 27, 2024. The well was drilled to a total measured depth of 9,552 feet (8,613 feet true vertical depth) and targeted the Ubaque formation.

Arrow completed the well in the Ubaque formation, which has 29 feet of true vertical depth net oil pay. The pay zone is a clean sandstone exhibiting consistent 26% porosity, 5 Darcy permeability and high resistivities from top of sand to base of sand. An electric submersible pump (ESP) was inserted in the well after perforating.

The well confirms Arrow's understanding of the large Ubaque resource base and commensurate horizontal drilling opportunities it provides.

Specific data for the initial production from the Ubaque formation are as follows:

· The well initiated production with a flow rate of 780 barrels of fluid per day.

· After recovery of the drilling and completion fluids, in a 12 hour production period the well produced 758 BOPD gross (379 BOPD net) with a 7% average water cut.

· Measured oil from the Ubaque formation shows an API gravity of 13°.

To efficiently manage the reservoir, the ESP is currently running at 42 Hz, minimum optimum pump frequency, and a 128/128 choke size is being used. The CN-4 well is currently on production, producing from the Ubaque formation at 478 BOPD gross (239 BOPD net). Management's intention is to produce the well conservatively, at current rates, to ensure the highest estimated ultimate recovery (EUR). This approach will provide significant operational flexibility.

The CN-4 well did not test the C7 or Gacheta formations. The Ubaque production and reserves potential are considered the first priority for the Company. C7 and Gacheta potential will be unlocked with future wells and recompletions.

Initial production results are not necessarily indicative of long-term performance or ultimate recovery.

CN-5 Well

The CN-5 well was spud on February 8, 2024 to test the Carrizales Noroeste prospect and reached total depth of 9,050 feet true vertical depth on February 14, 2024. Initial interpretation of the logging of this well, drilled to the west of the known pool boundary, shows 45 feet of Ubaque oil pay to base of sand. The reservoir demonstrates consistent 25% porosity and 5 Darcy permeability. CN-5 has confirmed that there is a stratigraphic component to the trapping mechanism in the Ubaque reservoir as it extends to the west and is therefore expected to add significantly to the existing Ubaque oil reserves. The Company expects to complete the well for production over the next few weeks.

Operations Update

[wanobi] 20/2/2024 07:40

gawd,,, I hope AZERGOV, President & locals are all back onside!!!

[riggerbeautz] 20/2/2024 07:38

I’ll take it for now.

[donald pond] 20/2/2024 07:29

[...]
Absolutely fantastic work here. A great model and much appreciated.

[jeanesy] 20/2/2024 07:28

I had a feeling we would get an RNS htis morning. Not the one we are all waiting for but welcome nevertheless .

[donald pond] 20/2/2024 07:28

Absolutely excellent presentation of the Xarxar resource. Huge congratulations for doing that. Interesting as well that there is a higher grade area right on the edge of the deposit.

[someuwin] 20/2/2024 07:23

Impressive interactive 3D modelling...

[laurence llewelyn binliner] 20/2/2024 07:22

Xarxar JORC - >100,000 tonnes of Copper..

[wanobi] 20/2/2024 07:14

Good morning all, Cheers Wan :-)