Hub
30 Sep 2015
Re: Great Update plenty of catalysts coming over the next 12 weeks and beyond.even if 801 comes in uncommercial - the next big news will be A5. Any dips will likely be seized by the savvy and risk aware.HUB
Push2Gush
29 Sep 2015
Re: Great Update To Be fair, they have ONLY perforated the lowest 2 intervals of 5 intervals identified during drilling & logging, so they are obviously doing a typical phased testing program starting with lowest intervals and working upwards to get clear information from specific formations rather than just perf the lot and see what we get,,, It is the best way forward to understand what you have and how to deal with it the best way, along with that, the well may have a good portion of brine or other kill fluid still in the wellbore & also the near wellbore reservoir they have just perforated into, may also need time to clean up, depending on drilling mud weights etc etc,,,,I think it is also fair to say that first indications from these 2 lower intervals is "probably" NOT going to blow the market away with the potential flow rates since it has demonstrated little response at first open, so it is wither a bit tight, wellbore needs greater displacement of kill fluids, formation/Skin damaged during drilling or poor drive mechanism. Could be any of them, will know soon enough when they try again in a few days to see if they got enough pressure build-up to kick start and clean up the well.There are still 3 more intervals to perforate too, of which any one could change the game dramatically. I would say at the current price this is still a worthy hold, still a gamble but OK.P2G
here and now
29 Sep 2015
Re: Great Update Not how I read it at all.I think they are preparing us for a drill that will not flow naturally, or at least very slowly. they are very careful to say there are three deep drills and any one good discovery will be material
bobsson
29 Sep 2015
RNS Interims and update All looks good to me. I still expect the oilfield A5 has found to be the company maker. We should receive updates on the flow tests all the way up to Christmas and into January. Looks like the shallows are one big field. My hunch is that 801 is on the flank of a large field and 802 will hit the sweet spot 8km away. Money in the bank to pay for 802 and A6 with hopefully some to spare.RXP still content to produce from the shallows at $10 pb, test production from the deeps cannot be avoided and the test oil can also be sold for $10 pb. Who knows? the poo may increase in 2016?The BNG licence ownership structure is being tidied up, clearly to be ready in 2017/18 for either a farmin or more likely a takeover of ROXI. Takeover is favourite as the co venture could have simply farmed out on their own? All we need to estimate is the take out price in 2017/18.IMHO DYOR NAI
Hub
29 Sep 2015
Re: Great Update Opulentia,It was a great OPS update and one wonders why Roxi hasn't updated the market more regularly. Had they issued an RNS to say the sidetrack was completed - that would have built nice momentum in the sp.There appears to be some dragging of their heals over the last few months and if you look at the bottom of the results RNS - tucked away where not many will notice, I think you'll see why the CEO has been a little slow or reluctant to boost the sp.It appears that ROXI are now looking to buyout the CEO's holding in Baverstock. In effect Oraziman is agreeing his own price? Seems a conflict of interest there.Let me guess what happens.... he gets a bucket load of Roxi shares (at cheap ranges) and Roxi gets a bucket load of operation costs going forward. If the deeps come in, then the CEO bags a nice bit of wealth from the cheap shares.The positives in this is that if or when Roxi agrees the BNG acquisition, that sp marker price should give a decent platform for shareholders to work from.Personally - I'd rather see Baverstock farm the 41% out and let roxi's sp increase on any deep well success and that's that.Smells a bit and lord knows how this transaction can happen without insider knowledge lol!In theory - it should have very soon as if it happens very close to test results on A5, then it's going to feel a bit like a GKP ETAMIC.HUB
opulentia
29 Sep 2015
Great Update A5 finally cleared and moving on to 90 day test period, 801 building up pressure ready to flow to surface. is this another discovery ?A6 soon to be spudded another drill targetting the high pressure zone GLA LTH expect a steady climb northwards as we enter 2016 with a heap of cash.
Hub
24 Sep 2015
Re: No posts for a week? dickie3times,It's quiet across many E&P's as times are tough. Investors have had a torrid time in what is one of the worst bearish cycles for decades. We've had the highs and now the lows are here.ROXI has all the catalysts to deliver some great share price growth but it should also be noted that these catalysts are best on well/ testing success.I think most investors have an eye on ROXI but are prepared to wait until the sidetrack is completed. It would then be circa 1 to 2 months before they test and get results.the BIG RISK near term is that they fail to complete the Sidetrack. That would be bad news. And the sp could drop to 6p or even to 4p levels in this market.So the big near term risk is now the SIDETRACK completion.The longer it goes on (they have issues with sidetrack - as per last rns) then the worst it potentially gets.To be safe and smart, I think most investors have derisked or even sold out which perhaps explains the low volume and quiet BB.It's your risk at the end of the day. Be careful - as if the sidetrack news is bad - it will hurt the sp.That said - there are more drills on the horizon, so that's what gives hope to long termers. However, if those drill plans are pulled or put off, then it becomes more worrying.The silence from Roxi board is not great at all. And one wonders if 'things' are going on behind the scenes. Are they still owed money by the chinese? Is the deadline end of Sept?ATBHUB
dickie3times
19 Sep 2015
Re: No posts for a week? So as we are nearing news maybe the postings will resume? This respite is wearing out my patience. Hopefully the sidetrack will be successful, if any more delays then we could be set back a few more months? One wonders if oilies are a waste of time? There ALWAYS is dwlays on most oil stocks beyond normal expectations. Thanks Hub for breaking the tedium on here. Let's hope posters reappear soon?
Hub
16 Sep 2015
Re: No posts for a week? if they can confirm that the sidetrack is sorted and testing phase id due to begin then this will soar by 75% from the levels with ease imho. And that's before the results.Problem is... they've gotta confirm the sidetrack is completed and that not happened yet.Still - plenty of time in the meantime for 'insiders' to load up .. tut tut.Q3/Q4 looking a good news catalyst period.HUB
dickie3times
15 Sep 2015
No posts for a week? ...Does that mean interest is waning or ...are pi's are wishing the sp lower? One wonders...Doesn't one?
CuttySarkRIP
08 Sep 2015
Re: RNS OPS UPDATE - muddy fluid When is fluid not fluid? When it's muddy drilling fluid?[link]
avago
07 Sep 2015
Re: RNS OPS UPDATE Roxi has some funny ways of expressing well problems:-"Work has paused to remove a blockage believed to be caused by excess drilling fluid".How can you have excess drilling fluid in a well? How can fluid cause a blockage? Anyone understand what they are talking about?Disappointed to learn that they are only getting $10/barrel for their oil! They won't get rich on that. Presume that applies to the deep oil as well as the shallow.
Czarnico
07 Sep 2015
Flawless, been watching this and agree with your position and analysis 100%. Couple of clowns and if LSE has any standards they should send them packing. Sooner the better.
dickie3times
05 Sep 2015
Re: RNS OPS UPDATE This new discovery might just prove to be bigger with further testing making extraction easier and another revenue string to our bow. LOOKING GOOD IMO?
bobsson
04 Sep 2015
RNS OPS UPDATE My take (fwiw), We have a new shallow well discovery, which is either a new field, or as the company thinks, is an extension of the existing shallow field. If we have one extensive shallow field, P2 numbers good be big, making the shallows very valuable in their own right. Look forward to seeing a CPR reserves report on the shallows. A hundred nodding donkey`s at 100 bpd each, is 10,000 bpd, If the field is extensive, that is what we could be looking at.Well A5, in my opinion is a large commercial field, and a company maker, could be 500 million P2 reserves here, so very confident on this one, Wells A6 and A7 will simply prove up the extent of the find.It appears well 801 could be on the edge of another large oilfield, and the sweet spot may be 8km away where well 802 is to be drilled. So very good RNS imo, market will not like the fact that there is another problem with A5, that 801 at the moment looks inconclusive, and the shallow field is unlikely to be commercial at current low oil prices. However given that it will take a number of years for all these fields to move to export prices, the POO is then likely to be higher making production profitable. In about 9 months time, RXP should be able to confirm two large deep fields and one extensive shallow field on BNG licence, perfect for a multinational predator to snap up, and park the asset until the POO improves. All we have to do is guess the takeout price.IMHO DYOR NAI
