Arrow Exploration Share Discussion Threads

[king suarez] 04/4/2024 19:54

It's going back to ATH before I get my ISA top-up in, isn't it? :'(

[mount teide] 04/4/2024 19:51

Brent touching $91/bbl

[fictitious1] 04/4/2024 15:21

I don't expect them deviating from not giving a runing commentary. I guess it also suits them to 'bundle' news so that any negatives can be buried cryptically lower down in the rns!

Keeps Joe busy with our subsequent questions.
:0)

....Took the opportunity for a minor top up.


EDIT: Besides, if they stick to their stated monthly update(s), that's steady enough newsflow imo.

[upwego] 04/4/2024 14:31

Do you think we will get an RNS stating the HZ well spud?

[russiaguru] 04/4/2024 12:09

Its probably why they are postponing the Oso Pardo stimulations until Q3

[royalalbert] 04/4/2024 11:12

H2 I wonder if all this extra capex for water disposal is in the figures given for capex 2024? perhaps they had contingency in mind.

[henley2] 04/4/2024 10:43

Maybe the CFO could enlighten us on how much capex will be spent on water injection wells and equipment in FY24 and subsequent years, and also give an indication on how it might impact production both positively and negatively?

[king suarez] 04/4/2024 09:58

PTAL is a good analogy as you say, they have spent A LOT of capex in the past few years building facilities to handle water (their wells are about 95% watercut!) which has set them up for high sustainable flow rates and lots of FCF now the capex has largely been spent. Thanks 11%.

[eaglehaslanded] 03/4/2024 23:16

RA, you were right:Please refer to our most recent press release. We will be releasing updates in the future. ThanksJoe

[henley2] 03/4/2024 22:31

And have a look at the CEO’s cashless exercise of options on 17/01/24.
Well done Marshall, did you pay back your loans?

[mount teide] 03/4/2024 22:06

h2 - I too am very much against Directors entrusted with their shareholders cash from being able to use it for their own financial gain.

Particularly when the Directors received an instant 100% profit($225,000) on the transaction - ie the warrants they exercised for shares were immediately worth double what they paid for them!

However, that's water under the bridge - it's the Ubaque horizontals that will have by far the largest impact on capital gains going forward and, we drill the first this month.

[henley2] 03/4/2024 21:52

MT, just slightly fed up that the directors feel they can treat the company’s cash as a piggy bank for their benefit, whilst shareholders receive no dividends, not much by way of capital appreciation over the past 18 months, but don’t worry you’ll be alright when we sell up in xxxxyears time.

[jailbird] 03/4/2024 21:50

A bit harsh on Marshall , I guess he is very optimistic and excited about the potential transpiring , some have already praised his track record Need to look at the absolute sh*t RNS' by so many other BoD of other companies on AIM, bordering on untruths

[royalalbert] 03/4/2024 21:32

EHL would not think that Joe could answer your query regarding wells offline, a RNS would probably be needed. However no harm in asking and thanks once again for your effort.

[pastybap] 03/4/2024 21:06

Well there is the most bullish sign if ever there was one. Resurrect is back!

[mount teide] 03/4/2024 21:01

H2 - loans - yes, it was both surprising and disappointing that they asked for and were extended shareholders funds by the Board to pay for their warrants.

However, the loans do attract interest at the Bank of Canada prime rate(currently 7.20%). And they have to provide acceptable security to cover the loan......which is due on demand, or when the they cease to be employed by the Company, or when they sell any Common Shares.

So, although a somewhat bitter pill to swallow, these loans from shareholders funds do look well protected and are probably earning more than most of the $10-$15m of cash that is now routinely held on deposit.

[the_gold_mine] 03/4/2024 20:41

I'm not surprised the water handling is an issue, Marshall stated in an interview a couple of years ago that after 90 to 120 days of production the water shows up for these llanos basin wells,



From 16 minutes 15 seconds...

With the addition of so much production in 2023 it's quite believable that the water will be causing bottlenecks,

I note that Marshall mentioned in the above interview a couple of years ago that disposal wells were used, so I'm not sure why another disposal well is needed at RCE (which I assume is where he was referring too in the interview), but given the size of the production growth and subsequent increase in produced water flowrates it's likely the original pipework and pumps at RCE for water handling need changed to accommodate much larger flowrates.

Regarding the explanation given for CN water handling I take that at face value, the CN discovery was about 9 months ago (June 2023), so I'm surprised they got this far without having the water disposal facilities in place.

Whilst I understand plenty of people have been bitten by AIM junior oilers previously I don't see any reason to doubt what the AXL management have said regarding produced water causing the minor production drop in the first three months of this year,

AIMHO/DYOR

[resurrect123] 03/4/2024 19:43

Someone will be paying a lot of s455 if those loans aren't repaid

[henley2] 03/4/2024 19:40

When will the 3 directors (Jull, Abbott and McFarlane) be repaying their directors loans of $225k, advanced to them for the exercise of their warrants?
Are they not sufficiently renumerated without the requirement for the company to fund their personal shareholdings?

[e43] 03/4/2024 18:46

RR, the rise to 27p was on thin volume as has been the recent fall,this is a thinly traded share.
The reality is v little has changed, sure we would like to be producing a few hundred boed more at this stage, but the recent oil price rise compensates for this at the bottom line fairly well.

[mount teide] 03/4/2024 18:36

RR - NOMADS - good luck.

Their representatives almost without exception have no industry senior level management/business experience of the companies they're responsible for, with respect to conducting thorough due diligence for the suitability of an AIM applicant for the exchange, or once the company has been admitted, to continue to provide expert advice and guidance on all aspects of the AIM Rules, for which the NOMAD gets extremely well compensated.

As a consequence, in my experience they routinely act more like a somewhat dim defence council for the AIM company with respect to any serious complaint - telling a retail investor what they want to hear rather than taking their responsibilities seriously and thoroughly investigating any reasonable complaint, if my discussions with a number over the years are a reliable guide.

Cenkos immediately springs to mind - and their handling of my 120 page complaint against MPL, which is currently with the AIM Regulator(similarly useless as they're entirely funded by the very industry they regulate) and the SFO, where the wheels of motion turn incredibly slowly.

One of the letters I sent to the Head Legal Counsel of Cenkos:



ps: Which generated an interesting comment from a retired US Investment Banker in response to the research in had posted on Advfn:

"'I am new to this board (found it when looking into the MPL CEO) but it makes for interesting if painful reading. I’m a retired Investment-banker. No skin in the game. I spent a year working with the MPL CEO (now consultant) while at Bear in 2006. He was a first-year associate and junior hand on the desk when we did the AIM IPO of HIRCO. Everything I read about MPL was already present in HIRCO. I’m afraid to say he left Bear under a large T&E cloud in 2007. I’m disappointed the nomad apparently did zero background checks when writing his bio for the MPL IPO prospectus.'

AIMHO/DYOR

[pastybap] 03/4/2024 18:28

Good, balanced post HAT. One thing I would add though, is that it isnt just the temporary production setback that has caused the 20% drop. It is also the perceived spivy interviews given by MA prior to the RNS. Trust in management is particularly crucial in this industry, as im sure youre well aware!

[russiaguru] 03/4/2024 18:19

Maybe get Joe and MA to hold some form of Q&A event, I would like to see Joe present

[eaglehaslanded] 03/4/2024 18:05

HaT- I asked Joe about wells offline. Hopefully we get more answers:Thanks a lot Joe Could you please give an estimate of how much boed is offline now? Have some of the wells been taken offline and causing some drop in production?