Hi! Joelsmith2452
Thanks for the link. This is the first time (to the best of my knowledge and I have checked previous announcements) that they have said that the gas flows have NOT met their expectations. they have said that the flows from Warro 5 & 6 are not commercial in their own right. Shouldn't shareholders be the first to know this?
Also I love this....The partners now believe they may have misunderstood the nature of the field. no they HAVE misunderstood the field!!!
"indications are that the water system is finite and water rates are likely to be manageable". Are they manageable or not??
“What we are seeing is that the positives are all still positive as far as the work we have done,” he said. Of course the positives are still positive, it's just that the Negatives are more negative than first realised. What a BS statement.
Keenihan said the remaining Alcoa farm-in carry was sufficient to cover Transerv’s costs from the testing until August. What happens after this? Are Alcoa willing to continue after August?
These people have 5 months to "understand the field" because if Alcoa pull the pin, there is no way TSV can afford to continue to drill. These are very nervous times. These guys have spent close to $100 million and still don't know if the water is manageable and the more money they spend, the more knowledge they are gaining. They Bl..y well should!!! but is that knowledge going to lead to a commercially viable project. I am sitting on the sidelines but knowing that the directors are drilling to gain knowledge is not blowing wind up my skirt.
TSV Price at posting:
1.7¢ Sentiment: None Disclosure: Not Held
