Hub
04 Sep 2015
Re: New Discovery! asilad,Roxi is a completely different play to MXP in that it is not under the cosh from huge debt. Management have already achieved 2 deep wells and have 2 more planned and that's through farming out and past asset sales etc.MXP management messed up and got caught in the debt trap.In terms of drilling success, RXP have broken through the high pressure zones without major problems. These drills are highly complex and very dangerous at that level. MXP failed to get through these zones.In summary - I wouldn't compare Roxi to MXP at all as the business stability is quite different. However, Roxi are like every other explorer in that they are at the mercy of mother nature and geology. Anything can happen.I would have preferred the RNS today to have said the sidetrack has been completed successfully and test will follow. I think the market is applying a decent discount to the sp based on them not completing this sidetrack.It only takes a month to do and whilst it still costs money, there's a chance that they can always try and sidtrack again if still unsuccessful.Lets hope the drilling fluids/mud etc is cleared and they move on to completion. If or when that news gets rns's - I think quite a few investors will get stuck in.As for 801, Sinopec are no foools. If they plan to test - then there's clearly something worth testing.HUB
asilad
04 Sep 2015
Re: New Discovery! Not a market boosting RNS by any means. Seems to me like 801 is not going to be anything like a game changer, if anything at all. No surprise there though, I think punters could have guestimated that from previous RNS releases - unfortunate. As Hub said, shallow gains matter very little - in fact just remind me of the horrors of MXP where they gambled on deeps or nothing to a greater extent. 501? Better come in good now or this is heading the way of MXP particulary with the low oil price. For long term holders the next deeps are a big consideration, but hey, these deeps are clearly troublesome in this part of the world!No current investment now, despite being too heavily invested up until a couple of months ago and out at a loss. GL to all still holding. I hope 501 comes up trumps for you - you need it to.
tobytoby
04 Sep 2015
Re: New Discovery! Seems they made the right decision to drill the extra 260 metres with at least 2 potential production zones being perforated and pressure increasing to boot. Expect another up date re 50 metres completed and dosh received before month end. I wonder if Sinopec will flow test for 30 or 90 days?90 days would likely give us a double whammy come December.
Hub
04 Sep 2015
Re: New Discovery! long overdue update but the good news is that 801 tests to come along with hopefully a successful completion on A5 sidetrack.New discovery is good news but that's smallfry compared to the deeps.Quite a few balls in play and as I said yesterday, Q4 looks jam packed with catalysts and news events. Saying that - with 2 new deep wells planned, it looks like a pretty interesting and busy period for investors.Share price today really is about risk and poor commodity sector sentiment, but anyone that likes oil plays with plenty of news drivers and upside potential may well be tucking away a few shares at these prices.Liquidity or lack of, tends to make this one move pretty fast when it wants to.HUB
opulentia
04 Sep 2015
New Discovery! lots going on here a good update, 801 going to be a producer, imo, moving on to new 802 well site, A5 getting there, just 50 metres to go on the sidetrack, and two new well drills for just $16 millionGLA LTH Looks like they have made the right choice and pushing the BNG asset forward, loads of potential here.
Hub
03 Sep 2015
Strong Q4 expected Roxi must be getting close to kicking off news flow with Sinopec well or wells and A5 (sidetrack and testing etc) all due for release over next few weeks to year end.At sub 10p - it's acting like there's nothing coming of any sort. No catalyst at all.Even in this market, surely when they get to the test phase of A5, this has to be moving towards 16p+ again?That's 60% to 70% upside pre any transformational news post test results.HUB
chequeplease
26 Aug 2015
Richyp123. What was the date when Clive visited BNG last time?
Hub
25 Aug 2015
Re: 801 core samples Roxi's statement on the A5 Sidetrack was.... "This work is expected to take 1 month to complete. Following the completion of the sidetrack casing will be set to the full depth of the well, which will allow a conventional 90-day well test to commence at the end of Q3 2015." END.That statement was made 15th July so they should have completed the sidetrack by now started the casing. The 90 day well test is due to kick off at end of September, so not long.I think the markets/traders would prefer an update on the sidetrack successfully completed as well as the casing sorted without problems. SP should get a significant lift from any news that removes uncertainty. If markets recover towards end of year (and they've dropped a fair bit through summer) then SP could rally much higher to test 2015 highs as well test news approaches.At 9p, the shares are a bargain for those not afraid of risk. 801 news is a bonus but looks disconnected to A5 so any poor news on that well has little effect or impact on A5 results.Of course downside remains if they fail to complete sidetrack and casing on A5.It would be sensible to take their time and go carefully as previous problems should be something to be learned from and not repeated.If they can confirm 90 well test is underway at end of Sept, then I would expect the sp to be north of 16p - almost double today's price. But that assumes the markets haven't gone into melt down mode again!Tick tockHUB
chequeplease
20 Aug 2015
I hope Tuesday 1st September (once a month) for rns .Mayby the pipes have arrived and the sidetrack has begun and hopefuly there is oil to be got at 801.fingers crossed.
Push2Gush
14 Aug 2015
Re: 801 core samples Personally wondering if they will have performed a DST (Drill string test) prior to casing off, to give some indication of reservoir/formation capabilities, it "can" provide valuable information for a long duration (90 day) test program & may prove more detailed understanding to any relation of the 801 well "potential" reservoir findings. It is extremely important to acquire the maximum information from these 2 wells to better understand any later planning for development. It is depressingly slow progress regardless, but hey,,, Aim oil is in a rotten hole at the moment and Oil prices are pish, I sometimes wonder if they are taking things super slow in the hope of a decent oil price bounce.It is a pretty good Sp level for taking a punt considering the low % level of stock available on the open market, which "could" make for a strong rally if results are good.P2G
tobytoby
14 Aug 2015
Re: 801 core samples ''1 June,Drilling has reached a depth of 4,790 meters without incident. Core samples and logging reveal a potentially oil bearing interval starting from 4,536 meters and extending 100 meters. 30 June,As previously reported core samples and logging have revealed a potentially oil bearing interval starting from 4,536 meters and extending 100 meters.15 July,As previously reported core samples and logging have revealed a potentially oil bearing interval starting from 4,536 meters and extending 100 meters.On 30 June 2015, it was announced that casing had been set to a level of 4,790 meters and drilling had resumed to a new planned total depth of 5,100 meters targeting Lower Permian and Middle & Lower Carboniferous oil bearing reservoirs. The well has now been successfully drilled to a total depth of 5,050 meters, into Lower Carboniferous. The lower part of the well will now be cased, and the well logs for the final 260 meters drilled are being examined to detect any additional oil-bearing intervals.Further announcement of what we find in this interval will be made in due course.'’Come the first of September it will have been three months since they started testing the 100m core samples and logs (will take another three months to test the 260m)?Anyway, hopefully some news on the A5 well sidetrack commencing and results for the 100m core tests being confirmed as commercial around month end, fingers crossed.I would have thought with Sinopec being a much bigger company they would have had some/ all initial core test results out by now Zz Zz Zz, perhaps they should handover Operatorship over to Roxi.Chew Wing Mi Fat.....….........…
Hub
11 Aug 2015
Re: 801 core samples that's a pretty strong bounce and news is overdue.Leaky leaky or just a recovery bounce after a rather contrived drip drip drop over last week or so.HUB
One more punt
11 Aug 2015
Re: 801 core samples 16% rise today - something is leaking
opulentia
05 Aug 2015
Re: 801 core samples Agree Toby, all strangely very quite, something happening n the background, we may be pleasantly surprised in the coming days /weeks, GLA LTH heres hoping an offer is being put together, the main shareholders will know whats going on, imo
tobytoby
05 Aug 2015
801 core samples It's been 2 months since Sinopec took the 105m 801 well's core samples, what's taking so long? A5's 110m core sample results were known as and when i.e. 18m per week not long after TD?Must be an Operator thing. I wonder if the 801 well's oil is commercial will they do a 30 day or a 90 day flow test, with the 801 having a different Operator?I'm hoping for both wells to be commercial and to have completed flow tests by mid-December - hope their not planning on reporting on the 801 wells 105m core results at the same time as the 260m addition drilling core findings.Not even a Chinese whisper..........where's SKY News :- (
