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11-12-2020, 12:58 PM
#17191
https://www.nzx.com/announcements/364835
Another half a km drilled, switching over to the 12.25" drill bit. We will use this for another ~1km, when we reach another casing point and then switch to the 8.5" bit. Once that is done we are only ~300m from the Primary Target (though I imagine we would have had some gas indications well before we reach the PT - if any gas exists to be found).
With ~1.3km to go until we hit the Primary Target, it is possible that we could reach it by Christmas Day. Though more likely early in the New Year I think as there are bound the be delays and issues that need resolving the deeper we go.
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12-12-2020, 07:52 AM
#17192
Originally Posted by mistaTea
https://www.nzx.com/announcements/364835
Another half a km drilled, switching over to the 12.25" drill bit. We will use this for another ~1km, when we reach another casing point and then switch to the 8.5" bit. Once that is done we are only ~300m from the Primary Target (though I imagine we would have had some gas indications well before we reach the PT - if any gas exists to be found).
With ~1.3km to go until we hit the Primary Target, it is possible that we could reach it by Christmas Day. Though more likely early in the New Year I think as there are bound the be delays and issues that need resolving the deeper we go.
BP are putting their global expertise into this drill and will be trying to gain as much information as possible from this highly prospective exploratory drill .I spoke to experts during the week and they do not expect we will get information about the primary target until mid-january .
That is good news for me as will not be a distraction over the festive ,fun season .
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12-12-2020, 10:47 AM
#17193
Member
Originally Posted by fish
That is good news for me as will not be a distraction over the festive ,fun season .
Each to their own, fish. For me, that would be the kind of distraction I think I could tolerate.
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12-12-2020, 02:33 PM
#17194
Originally Posted by Lion
Each to their own, fish. For me, that would be the kind of distraction I think I could tolerate.
Agreed Lion!
I want to know what Santa has for me in his big red fuzzy sac this year!
I mean sack !!
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12-12-2020, 02:56 PM
#17195
Hopefully we will all have gas, after our Christmas feast!
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14-12-2020, 11:52 AM
#17196
E9642556-6CD2-4246-9F55-E5B1D1E511FD_1_102_o.jpg
Excerpt from an article that was shared on HotCopper.
Citi estimates the value of a 15Tcf discovery at $9.2B (I am assuming that is AUD).
That figure seems about right when you consider Woodside paid AU$744M to acquire 50% of Pluto from Exxon (Pluto was ~4Tcf of gas, much smaller than Ironbark could be...and this transaction happened 6 years after production started, so remaining reserves would be down).
If Citi is right, and if Ironbark comes through @15Tcf (a lot of "ifs"!) then that would value NZO's ~25% equity at $13 or $14/share.
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14-12-2020, 12:08 PM
#17197
Junior Member
Does that include NZOs holding of CUE mistaTea ?
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14-12-2020, 12:19 PM
#17198
Originally Posted by Boffin
Does that include NZOs holding of CUE mistaTea ?
Yes that includes the Cue holding.
When we take into account the portion of Cue that we hold, our total Ironbark equity is ~25%
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14-12-2020, 12:26 PM
#17199
Originally Posted by mistaTea
Excerpt from an article that was shared on HotCopper.
Citi estimates the value of a 15Tcf discovery at $9.2B (I am assuming that is AUD).
That figure seems about right when you consider Woodside paid AU$744M to acquire 50% of Pluto from Exxon (Pluto was ~4Tcf of gas, much smaller than Ironbark could be...and this transaction happened 6 years after production started, so remaining reserves would be down).
If Citi is right, and if Ironbark comes through @15Tcf (a lot of "ifs"!) then that would value NZO's ~25% equity at $13 or $14/share.
That would be totally gamechanging, (and life-changing for some of us on here)
Let's hope Citi's analysts are right and the seismic data in the original report is solid.
All science is either Physics or stamp collecting - Ernest Rutherford
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14-12-2020, 12:36 PM
#17200
Junior Member
Originally Posted by mistaTea
Yes that includes the Cue holding.
When we take into account the portion of Cue that we hold, our total Ironbark equity is ~25%
Thanks mistaTea. i have been buying on the ASX, such a good price, but when do i say enough..........!....?
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