opulentia
24 Jun 2015
Re: HOPE CLIVE IS TRUE TO HIS WORD... im beginning to come to the conclusion that Clive might not be the right person to lead RXP to the next stage;GLA LTH the recent RNS,s are filled with double meanings /interpretation's, if on one RNS he says the blockage is CLEARED, then it should mean that, not to then issue a following RNS ro say there is still a STUCK pipe in the well?, very misleading and will do damage to the Sp, if the Market thinks it has been deceived in some way?, my opinion why Sp has fallen today.
bobsson
23 Jun 2015
4000 bpd From RNS, the company wants to average 4000 bpd for 2015. Currently averaging less than 200 bpd? Just over 6 months until the end of financial year 2015. So to get an average of 4000 bpd the company will have to produce around 10000 bpd for 5 months?And all test and trial production to be sold for around $10 to $15 per barrel?I think the company is hinting it has hit the jackpot. Expect either a takeover or a major oilco farming in within 10 months.IMHO DYOR NAI
bobsson
23 Jun 2015
Re: The delay O, If they have started drilling they can finish the drilling even if the licence has expired. They cannot spud any new wells until the licence is renewed. However it is for the company to declare whether a well/field is commercial, once declared it can drill development wells and move to trial production (TPL) and then full field development (FFD) even if no new exploration licence is granted. Additionally, if A5 and 801 and then other deep prospects are found to be contiguous RXP can just keep drilling and drilling under the terms of the contract. So the hard work may already have been done. However, if no new licence is obtained, the sidetrack of A5 may be important if the 30 day test cannot conclude because of the stuck pipe.Similarly the shallow wells; the company thinks the shallow wells are all striking oil in the same field/geological formation and it is one very big field. In which case RXP can keep drilling shallow and deep wells, move to FFD and then produce for 25 years.imho dyor
tobytoby
23 Jun 2015
Re: RNS out Good point Op, though I doubt they would have stopped drilling for that reason, would they have had to stop production too if that were the case? They're drilling through three deeper zones that may have high pressures at those depths as with the A5 well, so on a go slow? I think they were averaging 5m per day on the last lap of the A5 well, which would see a TD on the 801 well around August end, hope not Zz Zz Zz.....Perhaps they didn't want to spoil the good news of their month end Operational Update RNS :- )
opulentia
23 Jun 2015
The delay could be down to the ;licence expiring on June the 6th, are they still allowed to drill during this period, if the licence hasn't been updated yet?, maybe this is what has delayed the flow test, it would be nice if Clive would have let us know?, one way or other, ?GLA LTH An RNS to say licence has been extended and flow test has commenced , with an update on the 801, would be good, seems I have more questions than answers at the moment
tobytoby
23 Jun 2015
Re: RNS out Nothing new then. They're still yet to start the 30 day flow testing and we're none the wiser re the 801 wells progress from last reported 1 June at 4,790m?News expected monthly, perhaps a drilling update on 801's remaining 310m progress 1st week of July, strange how there's no progress reported re 801 since last reported on, I'd have thought they would be near the 5,100m TD by now, no new problems I hope.A bit disappointed really with the rehash of 1 June Operational Update.
opulentia
23 Jun 2015
Re: RNS out from the RNS, Key Objectives Our sole objective for 2014 was to achieve production from our existing assets at the rate of 2,300 bopd. The delays at Deep Well A5 resulted in us missing this objective and in 2014 our peak production rate was 1,500 bopd.As previously reported, for a short time Deep Well A5 flowed at the rate of 2,000 bopd. If following the remedial work on this well this remains the case then the target for drilling in 2014 (although late) would have been met.For 2015 our sole objective is to achieve production from BNG at the rate of 4,000 bopd.The Strategic Report was approved and authorised by the Board for issue on 22 June 2015 and signed on its behalf byGLA LTH I shall be looking forward to the update on the BNG reserves, which is expected to jumpe upwards, currently RXP reserves are estimated at over 900 Mbls, a revision is being planned for this year end, with the results due mid 2016, this will be a major pricing news event , imo, keep gathering shares , especially on days like today, RXP is one for the future.
tmhhammers
23 Jun 2015
Re: RNS out "great news that A5 can flow 2,000 Bpd, " ?????Were does it say that..........trying to read rns on an iphone!!!
opulentia
23 Jun 2015
RNS out good news , plenty to take in there, great news that A5 can flow 2,000 Bpd, with the potential of 4,000 Bpd from the BNG field this year, 801 drilling through 100 metres of oil bearing structure , a potential New Discovery!!GLA LTH All looking good for the future, imo
opulentia
22 Jun 2015
Re: Patience !! Toby, the extra pipes should be there by now, imo, Roxi will be ready to run the oil flow test , and i think we will get an announcement to that effect any day now , imo , the 801 drill progress is proceeding somewhat close to your predictions, i would imagine we will get an announcement during the 30 days flow test , which should hopefully have a double whammy effect on the Sp, lots of other news planning!!!, going on in the background though, imo, now we have a huge amount of cash in the kitty, Clive will be busy in negotations with the next planned drill, GLA LTH going to be a very busy year 2015, RXP will have 3-4 oil wells in production come the year end and moving in to 2016. the prospects look amazing imo.
tobytoby
19 Jun 2015
Re: Patience !! Op,On 1 June they were still waiting on equipment (extra pipes) to be delivered on site, so let's guess the pipes were fitted and flow testing began on the A5 well 10-15 June, which would mean flow test results wouldn't be out until at least mid July, however they haven't confirmed flow testing has begun yet and they're pretty good with operational updates?If the 801 drill bit was turning at 10m pd they should hit TD month end and if drilling at 20m pd then they should have already hit TD at 5,100m, so I'm expecting news on the 801 well before flow test results are out on the A5 well, fingers crossed the last 310m or so are oil bearing too. It's looking good for two commercial reservoirs, exciting times indeed - July's looking good for the share price, imo.The drip drip Galaz payment is a bit annoying though.
chequeplease
19 Jun 2015
If there is not enough tankers, perhaps some could be shipped from China?
chequeplease
19 Jun 2015
Would anyone happen to know our many tankers it will take to accommodate the A5 flow rate,given we have been told the api and the psi? Georgesaa everton anybody.
opulentia
19 Jun 2015
Patience !! is all that's required here, lots of background buying going off, even had a top up myself this week, GLA LTH looking for a more detailed update in the coming weeks , A5 test should be ready anytime soon, and 801 still drilling through the deeper deep oil field. this could be Huge!!, fingers crossed, imo
bobknows
12 Jun 2015
RNSAlerts.co.uk New RNSThe money is slowly getting too the company.[link]
