cash position is fine, the last quarterly updated the cash position and its very healthy. i have not seen any announcements from adi re them stating its a con job.. can you please post a link to that announcement.
capital raising is a certanty, absolutely agree that it looks that way, the wells in live oak are close to completion, and baker was certainly showing the signs of open hole flow.. with the data from those wells and kennedy it would be a good time to go to the market post kennedy. At the agm, the strategy stated then was to get the first well, kennedy 1H on production then the jvp's would have to eventually go to the market and raise capital and adi indicated they would look at a balance of capital raising and debt, and then proceed with the forward well program.
prawn,
i can put you on ignore, so i have to unfortunately take you on again..
thanks for the time you took on going through all my posts, may do the same for you soon
the falling share price is not going to change my view on the play, if your going to criticise the sp, then do so, but leave me out of it, i have posted all the reasons for me staying in the investment and holding, yet that seems to draw your attention and you feel as a moderator its vital for you to single me out for being confident in my decision. regardless of the sp, regardless of the stock market turmoil , i will hold this stock for the outcome of the sugarkane.. end of story prawn..
i support anyone with conviction prawn, with balls, and i look at people who have large holdings in the share and they have conviction to hold and buy more.. i also do the same, add some more.. and if the price falls to .10 then i will be adding all the way to that level..
can you please stick to the topic, you have not posted anything where i have said its a sure thing, and conveniently you have not posted the posts where i have a had a red hot go at adi, nor posted the high risk high reward statements.. and lastly,, this forum is not for financial advice, i try my utmost to post IMHO and DYOR.. you have never posted that in your attacks on me personally.. so prawn, i put you on notice, all my comments are IMHO and DYOR ok..
I notice that your not critical of anyone buying the share i see prawn, your only critical of me personally for holding a stake of my portfolio in this share..
so prawn, on topic please. this part i am interested in, can you please answer my question to you on the seismics that COP are using, you seem to know about them..
"Seismic data and GPR has been proven to not have the most accurate track record."
mick ..
well what was stopping texas crude from buying up the leases and farming out to the jvp's, that would seam to be the right thing to do buy the jvp's, and not stand by watch cp take them up.
somethink just seams amiss with all this and it's costing me and others dearly.
re- kude#1 5000 cfpd that is far from commercial, if you put a small enough choke on a well it is going to last a lot longer than if it was open full, do you see where iam coming from.?
if they put a bigger choke on kude #1 it would not run at 5000cfpd.
mick
the first part of what you said has already happened, the sugarloaf AMI jvp was exactly that, the TCEI gave 20,000 acres to the jvp, it was not the same acres that our jvp had for the hosston sands target, that deeper target basically went under the edwards and towards the kunde wells, i think the bigger part was in live oak.. put it this way, if the hosston sands was a comemrcial success, the deep wells would be drilled right on the same site at the kunde wells, and we would own the minerals for the deeps below edwards somewhere and beyond, and the shallows, the chalks mineral rights would be in the hands of concocphillips.
further to what your saying mick, TCEI has worked extensively in live oak and karnes bee and atascosia. they have secured a lot of land, and have farmed out to form other jvp's. conocophillips has also done their own lease buying, and they have extended through live oak into ganzales and de witt..
its a dog eat dog menatlity in texas, and TCEI does not owe the jvps anything, they formed the jvp to test the deep target, later they gave the jvp an opportunity for 20,000 acres on the sugarkane, and i personally think they gave that in return to stop the jvp form going out and doing exactly what you have said they should have done. chase the acreages themselves,, you may notice none have done so, so my view is that they simply cant... the jvp got into this play by chance, pure luck mick, dont forget that.. the fact its taking years for conoco and tcei to put this together doesnt matter to me, i have my own views on the risk reward, and have my position, i will hold for the outcome. as long as conoco is there, so am i..
re the vertical kunde 1, the well has so far brought back 3.2 million to conocophillips in 12 months. and thats in zone 1. they have not opened up zone 2 or 3 yet. the well had a 40% decline then steadied.. they are looking at the play in terms of horizontal wells currently..
all imho and dyor