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  1. #61
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    Quote Originally Posted by JBmurc View Post
    Yes I’m loving the talk from mgmt and the videos of the gas flares .. I understand the 41c target is conservative esp if we get higher flows than expected... holding 633k of the OAs 30c would be brilliant Xmas present
    I had some but when they went for that BS CR I folded. But I think this could be a real winner ( excuse ) . This guy Scott has been talking this up very seriously. And initial results are tracking well..

    I will re-enter when gas flows are commercially sustainable. There will be a surge then a pull back. Buy during the pull back.

  2. #62
    FEAR n GREED JBmurc's Avatar
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    Very good surely we will get flow results next week .. worth looking over the recent analyst report to see the upside ... for those interested

    http://www.realenergy.com.au/images/...eport_2018.pdf
    "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

  3. #63
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    2 to 4 weeks by the looks. Still clearing off frac fluid.

    Tamarama 2 & 3 Operation Update
    Windorah Gas Project

  4. #64
    FEAR n GREED JBmurc's Avatar
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    Quote Originally Posted by Joshuatree View Post
    2 to 4 weeks by the looks. Still clearing off frac fluid.

    Tamarama 2 & 3 Operation Update
    Windorah Gas Project
    Yes I like the sound of better flows than Tam-1

    "Current Program

    ▪Real Energy completed the well stimulation of Tamarama 2 & Tamarama 3 in October 2018

    ▪Aim of current works program is to convert some of the large contingent resources to reserves

    ▪Tamarama 2 & Tamarama 3 flowbacks – continuous and fairly stable gas flowing to surface with frac fluid

    ▪Frac fluids are now starting to drop but still more to recover

    ▪Pressure and flow tests to be conducted once majority of frac fluids are recovered from both wells"

    continued positive advancements.

    RLE = STRONG BUY imho
    "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

  5. #65
    FEAR n GREED JBmurc's Avatar
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    Cool Could well set your 2019 off the right way if flow rates and reserves hit targets

    Post from another forum from a guy that had contacted RLE mgmt on delays>>>>etc

    I contacted RLE. The line that got me suss was "Real Energy will continue to evolve its extraction techniques". To me, that was code for 'the wells aren't performing as expected and cap raise. I put this to RLE and the answer was a definite "we meant what we meant". So there's nothing up with the current wells, they were just confirming that this play will evolve and they should be able to improve results over time.



    Why the change of due date for flow rate results? Onsite RLE reps advised the board of the progress in recovering frac fluids from T2 & T3. T2 is all but recovered (~90%) whereas T2 is >50% so far. The shut in, pressure build and flow test will take ~2 weeks to complete. There was a risk this 2 week timeframe would put RLE too close to Xmas. So RLE made the call to delay the testing until the new year. Fair enough i say, i would rather be with my family on Xmas day than on a rig in Windorah.



    I expect both wells will be shut in before Xmas.



    Why 2 weeks for flow testing? 2 weeks will provide enough data for consultants to predict well decline and estimate reserves! RLE expect a 'long' well life based on productivity data from nearby Santos wells. Flow rates are important but each well needs enough ultimate recovery for payback. RLE seemed very confident of this.



    What does "both wells are performing better than T1" mean? T1 has 'slugs' of formation water that inhibit continuous flow. T2 & T3 whilst recovering frac fluids are performing with far greater consistency. 'Slugs' of frac fluid (only) appear but are nothing like T1. The flow rates from T1 when not affected by water are solid, so i expect that T2 & T3 without these issues should flow consistently and at a higher rate.



    Interestingly, RLE mentioned that re-conditioning T1 was a future option to improve the well. That to me further shows that the gas is good and its a well completion issue that has hindered T1.



    Testing of liquid recovered from T2 & T3 has been completed and did not indicate the presence of water issues like T1. RLE did indicate they would continue to conduct testing to confirm the results thus far. This is very good news.



    Hopefully we get a few more flare videos and 'business as usual' updates before Xmas. I assume there will be an ann confirming shut in of the wells?



    Reserves are expected Q1

    HIgh Risk High return ....has been hit from sell-off
    "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

  6. #66
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    Thanks so much for sharing that JB, the more i know the less i want to know. Its trash or treasure for my punt stock.Sitting on my hands here, not adding or selling.May the flow be with us!

  7. #67
    FEAR n GREED JBmurc's Avatar
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    Well I pretty much only hold BOOM or DOOM shares these days EAR IRC WWI RLE BUL all been crushed of late but with the right ann. and movement in GOLD or east coast gas I might just retire my day job earlier than expected.... esp as I.ve been buying more of late >>
    "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

  8. #68
    Divorced from logic Hectorplains's Avatar
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    Quote Originally Posted by JBmurc View Post
    Well I pretty much only hold BOOM or DOOM shares these days EAR IRC WWI RLE BUL all been crushed of late but with the right ann. and movement in GOLD or east coast gas I might just retire my day job earlier than expected.... esp as I.ve been buying more of late >>
    Good reminder of the impending shortage: https://www.rystadenergy.com/newseve...asingly-likely

    Both Tama 2 & 3 are shut in to pressure build-up ahead of flow testing scheduled for mid January.

  9. #69
    FEAR n GREED JBmurc's Avatar
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    Quote Originally Posted by Hectorplains View Post
    Good reminder of the impending shortage: https://www.rystadenergy.com/newseve...asingly-likely

    Both Tama 2 & 3 are shut in to pressure build-up ahead of flow testing scheduled for mid January.
    Holding good chunk of OA's so really would like to see some good flow rates ... will pop if we do..
    "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

  10. #70
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    ASZ 2019 competition closing in few hours
    Be aware of wizards, for they are subtle and quick to anger.
    that not forbidden is mandatory.
    Anyone but o'brien

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