Acceleware Ltd V.AXE

Heating

[L.A.]

Looking back on the PP there were a lot of people that had to sell stock in order to buy stock in the placement.

Now that AXE has the money they can get a rig on site to complete all the work that they want to do which if I have read all the NR correctly that means removing the heating probe to inspect it, changing the DTS sensor and firing it all up. Not a quick process, I suspect it will take a few weeks before they can start heating. 

The reservoir has cooled down so it will probably take a month to get it heated again. Just a guess but I think they will be producing oil again around the middle of January.
Not sure how many months they need to complete the test, hopefully it will be completed at the end of February 

These timelines are just me spitballing, if anyone has more or better info to add clarity on the timelines please respond.

[ScarletSpider]

I hope not the company reported the damaged parts on July 27th that is now three months and about 15 days so three and a half months that’s already quite long and I would think they were making arrangements even prior to the release as the danage likely happened before. As with that people also plan raises possibly a month if not more in advance as they take time and so when they are announced

[Cavest]

From good source, they need 2 more months of heating. Factor in the stuff that happens with pilots and could extend to 3 to 4 months. I don't know when the repair will be done but it will probably cost around 1.5M (less potential subsidy and partners investments).

[blitzer2]

L.A. Once the DTS is fixed and the heating starts again it should only take less than a month for the production of oil again. If you remember, they originally announced heating starting on the pilot on March 10 and said they were producing oil by April 6th last time.  If they can get all the revised testing and DTS repairs completed by the end of this month they could then be back to

[L.A.]

Blitzed, I agree the time to produce oil is probably about 3-4 weeks. I personally think they will not complete the work over until mid December or just before Xmas. that woul put my timeline of producing oil around mid January. Hind sight has given me a little more clarity on the work stoppage. After a bit of thought and common sense it appears to me that AXE had their hands tied financially

[blitzer2]

L.A The anticipated closing date of the PP was stated as occurring on or about Nov 10th. They did close it on the10th so it did not take 'a lot of time' as you stated ..only 3 weeks.!? They had already started on the workover also 3 weeks ago on Oct 21. So, we have almost another 3 weeks until the end of this month. So, I am going with the 'glass half-full' approach and hope they