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[forwood] 09/11/2022 16:23

Agree the winter programme must go ahead. Hope you're right :-)

[yoghurt73] 09/11/2022 16:20

Agree in part forwood but the pot of gold is always on the horizon for the 100% champions with a season by season single exploration well out west. If they had a 'provisional' 10figure number 12-14 months ago and we have Drilled TW/A2 since with the BH VAS & Logs surely count for something in the deal making scenario. A2 flow tests aren't as binary for a winter program deal further west, they just allow a share price leverage with the go it alone [debt/presale oil] bluff.
A winter season can't be missed and with an increased competition for crews/rigs and pipe it would be a failure to not get things on long lead-time pre ordered and coverage for applications etc all lined up. Time to get some heavy weight money & get after it IMO. Dilution of FO offset by proving up more in shorter order.

[forwood] 09/11/2022 16:02

Neo - the current plan is for testing c 9 months. There was a hearing on the flaring for that length of time, so until the result of that is known, there's a degree of uncertainty.

Yoghurt, much as I'd like to see a farmin deal now, more likely scenario is for an initial view on the flow test - at least a month, 3 better. Otherwise the value of the deal would be a hostage to fortune. They might be able to structure a deal in such a way it could be adjusted for better/worse than expected results. The delay has probably messed up expected timing on funding for the winter programme but can't be helped.

[mlf51] 09/11/2022 15:50

Have you read any of the available info on this well, try it and save embarrassing yourself.

[youngbaz] 09/11/2022 15:11

No he/she isn't. (Long term or extended) production testing is not the same as 'flow rates'. The key is in the word 'production'. Production is initiated when the total likely extraction revenue exceeds the total extraction costs including the initial capex. Sorry if that's teaching grandma to suck eggs, but it's no use the well flowing at thousands of barrels a day if it runs out of breath after a couple of months. Plus, they won't even have initial flow rate until after they've finished messing with the coiled tubing. Not that I'm wanting to be a wet blanket or anything!

[neo26] 09/11/2022 14:58

U jokin?They must have flow rates now?

[mlf51] 09/11/2022 14:04

At the moment 7.5 months

[neo26] 09/11/2022 13:27

How long will production testing take?

[yoghurt73] 09/11/2022 12:44

Exactly YB. We will see this week or next one way or another I suspect.

[youngbaz] 09/11/2022 12:33

Purely hypothetical of course but I don't see how that would break AIM rules anyway. A farminee might say their offer was conditional on the outcome of bids for further acreage - or indeed the absence of them. In either case no need for an RNS during discussions - surely only when an offer has been accepted?

[yoghurt73] 09/11/2022 12:16

If a farminee were to be ready to come in and fund a winter program you would hope that in conjunction with BoD that announcement would be held back until lease auction blocks are known/won later today.