I think they are currently waiting for the benchmarks to met per announcements. You know I am happy to keep buying at 1c right?
When Moke deal happens, the other block in Ordos basin will happen soon after I reckon as its the same seller, inner mongolia project may happen after that. Triple has got a lot of area to cover within the JV with longmay.
From Jan 15 Presentation
That project alone covers up to ~ 2,700+km2 of coal mining leases including
FOUR AREAS UNDER JV
1. Hegang mines (1st area)
2. Shuan Ya Shan mines
3. Qi Tai He mines
4. Ji Xi mines
After fracing the two wells in Hegang, they may also take up other rights including other areas mentioned in the presentation.
LongMay drilled, fracced and tested a coal seam gas well in the Jixi Area in 2013. This area is included as an option area in the JV with LongMay TNP understands this well to have performed well on production test but as yet TNP does not have the data.
Imagine if the Hegang fraccing become successful, we will probably expand to jixi which they spoke about and even show a picture. So quite a few wells in that project alone and could reach 10 or plus if things turn out the right way.
Moke deal has a lot of production and test wells if I am not wrong.
So all in all, triple may be going from not doing a lot to having a lot on the plate and lots of wells on production and testing phase. It will be quite an expansion. Its an exciting time ahead for all of us.
Thus thats why I am more than happy to keep buying at 1c
TNP Price at posting:
1.1¢ Sentiment: None Disclosure: Held
