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Originally Posted by t.rexjr
14c Expiring 30-Sep-2020
A slightly 'safer' option should thing not go to plan I thought.
Scott Brown (CEO) sold his OA's on 12 Dec (@.018) and bought more head shares...
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Originally Posted by Hectorplains
Scott Brown (CEO) sold his OA's on 12 Dec (@.018) and bought more head shares...
Yeah I put that down to ability to raise cash for conversion given his window of trading and quantity he holds. That was somewhat confirmed by Tully's post. The heads are very cheap if all goes to plan...
Last edited by t.rexjr; 18-01-2019 at 12:00 PM.
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Many thanks for doing the work and sharing freely JB.
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Member
I hold OA's as well as heads. Looking forward to some positive announcements starting from next week.
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Originally Posted by t.rexjr
Yeah I put that down to ability to raise cash for conversion given his window of trading and quantity he holds. That was somewhat confirmed by Tully's post. The heads are very cheap if all goes to plan...
Yes Scott is still the biggest holder of the OA's and head shares ..you don't get much more skin in the game than that for a MD..
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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Yes 3mmcfd+ would have been better but is very positive all the same
Commenting on the successful flow test, Real Energy’s Managing Director Scott Brown said: “This is a good
result for Tamarama 2, which we believe will be a future gas producer. Importantly we are a step closer to
commercialising a very large gas field and supports the drilling of future development wells. ”
“We are now on track to convert our large Contingent Resources of 2C & 3C into reserves and then start to
deliver sustainable production from what is potentially a very large gas project in the heart of a proven
Australian energy province, the Cooper Basin.
“The current gas crisis on the East Coast of Australia, where last week the Sydney gas price hit AUD$12 per
Gj, is something we predicted when we founded Real Energy. We positioned the Company to take
advantage of today’s gas situation, something that is hurting Australian industry. We have 100% ownership
of a field with an estimated 13.7 Tcf total mean gas in place, and our goal will be to convert a large amount
of this into gas reserves. Whilst we are on the verge of commercialising a very large gas field we are still at
the very early stages of unlocking the project’s true value which we anticipate is significant.”
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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BCGA plays are among the more economically important unconventional gas systems in the world. They are made made up of pervasive, basin-wide gas accumulations trapped in low permeability rock. In the US alone, basin-centered gas accumulations provide 15% of the country's annual production, equal to 4 tcf/year.
Is interesting looking at some of our peers of course in the CSG space like GAS.asx 128mill market cap !!
close to pipeline like us. in QLD
Ended up getting some RLE -8.9c-9c today to go with my OA's
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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Originally Posted by JBmurc
BCGA plays are among the more economically important unconventional gas systems in the world. They are made made up of pervasive, basin-wide gas accumulations trapped in low permeability rock. In the US alone, basin-centered gas accumulations provide 15% of the country's annual production, equal to 4 tcf/year.
Is interesting looking at some of our peers of course in the CSG space like GAS.asx 128mill market cap !!
close to pipeline like us. in QLD
Ended up getting some RLE -8.9c-9c today to go with my OA's
The problem for RLE is that their models predicted flow rates of >3 mmcfd (as was released in the much trumpeted broker's report.) Having stuffed up Tam 1 and now overestimated Tam 2... what confidence of higher flows from Tam 3? Heads ended slightly in the red today, the markets not sharing Scott's 'good result' sentiment. My conviction around this is waning. OA's are looking shaky. What chance another CR looming...
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I spoke with the Scott today briefly in his words the technical operations of the TAM-2-3 have been left up to the operators Halliburton
he, of course, like everyone else wanted a high as possible flow-rates but believed the 2mmcf/d was the baseline target from the start to give confindence of a commercially certified 3P Gas reserve of 300-400bcf Is the Target in the short term ,, not pushing the frac formation and risking damage that could hurt life etc.
Also with water issues at TAM-1 didn't want to put more pressure on the upper water bearing coal seams..
the choke is small only 5mm ..nearby STO Whanto-1 flowed 4mmcf/d through a 13mm choke
RLE twitter feed definitely worth a listen: https://soundcloud.com/user-24692873...or-scott-brown
At today Gas prices TAM-2 if flowrates stay steady would be around $25,000 in revenue ... TAM-3 should at least double that $50k a day not sure how much TAM-1 will add but surely another 10k per day so 60k will certainly help keep the lights on..
Mt Howitt pipline only 14kms away will cost about 5mill to connect... the OA's would cover the cost but Scott did state that he has had offers of debt funding on the back of Gas reserves cert. so I think they really don't want to push the choke size in the short term well until field reserves are booked they learnt the lesson at TAM-1 over fracturing cause the water issues to hamper gas flows.. so think its a slow and steady approach
IMHO RLE is dirt cheap when you compare to peers just look at GAS.asx or STX.asx both some time away from production of have Gas reserves anywhere near RLE or agreements to connect into pipelines close by(that I know of) and being CSG they will have yearly costs to keep the gas flowing over shorter timeframes .. as we know with BCGA is generally long life constant flow-rates of dry Gas... RLE is trying to prove a major BCG play surrounded by the biggest OIL&Gas players in the region ..
Scott does believe its only a matter of time till we are approached by the likes of ORG-STO-BPT but they won't move till RLE has done most of the work and have reserves and tied into piplines then really its just chump change to offer 70-100mill etc
Last edited by JBmurc; 22-01-2019 at 07:48 PM.
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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