That would be great. Sure would be a burr under the saddle of some here if Magellan actually starts showing the results for which we have hoped and invested..
Excellent news. From about 130 barrels a month to January's near 1200. Hopefully we can keep a good solid steady production even if it does not stay at the plus 1000 per month level.
The biggest mover will be news of drilling and drilling results and that will be a process lasting the rest of this year. Horsehill 1 is expected to be finished in August according to Horse Hill Development which will pay 100% and earn a 65% interest. CO2 project should yield some preliminary results this year and perhaps a partner will be found for the offshore Aussie block. But, I would think the first big news, for good or ill, will come from the UK.
Thanks again. BTW, my trainer says Ms. Parker is training very well and should have her first start as a three year old in April right after Emerald Downs opens. He thinks she could be running in the 20,000 dollar claiming class which is pretty much near the top of claiming categories at Emerald. If she can race at that level, and she does not get claimed away by doing well, I may have my first horse running in allowance races and, who knows, perhaps the 50,000 dollar stakes races that are run about 5 times a year at Emerald.
Thanks Carson. So what well was being discussed as costing Magellan about 5 million for their share to drill?
4 March report from UK. The report stated that site preparation is underway on the Horse Hill One well to be drilled by HHDL which will retain a 65% ownership as operator while Magellan retains 35%. Is this well, in the Weald Basin, different from the Horse Hill well that had Magellan and Celtique as partners in what I thought was a 50-50 deal?
That is the total for the last two messages posted by avi and bobb. You would think that if they were different people and supported each other's views then there would be some thumbs up.
Interesting that Herbert gave me a number to his office in NYC and carson lives in CA and I live in WA.. For us to all be one person would be a feat of physical and geographical split personality legerdemain that even avi and bobbo and the other appendages cannot achieve.
No. If you are contemplating investing in Magellan then you already are not adverse to risk. If the well is successful and proves up the thesis that herbert denton envisions that acreage alone will drive Magellan's price up very quickly. If you already have all the shares you want, sit back and enjoy the ride which could be quite a lot of fun.
Herbert, I understand your point about the Weald Basin but, right now, the only production is from the Poplar Dome area and the CO2 wells, if I am not mistaken, are not targeting the Bakken zone but rather the Charles zone. If the Horse Hill well confirms what you suspect then focus will shift there as it should. I am concerned, as you pointed out before, that proven success with Poplar or Weald will encourage an inadequate offer that we smaller shareholders may not be able to stop.
Thanks NWG. If that rate were maintained we would be at about 110,000 for the year but I believe it will be better than that as more progress is made at Poplar.