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Member Since: Fri, 9th Jul 2010

Number of Share Chat Posts (all time): 2,553
Number of Share Chat Posts (last 30 days): 6

Last Posted: Fri 20:40

Post Distribution over the last 30 days

Fri 20:40

Well, I'm not really sure what to think. A bit ambivalent. Would have preferred a bit more black and white in the news but my reading for what it's worth is that it looks like we have finished the 30 wells and are now doing some reworks that from memory were vaguely mentioned somewhere in the dim past. I imagine there is not much of that programmed or it would have been said more clearly. Anyway, RG is a proven master at cost saving in lean times and until GDG comes through with the next tranche for the next load of Lifabs (end q2 hopefully) it looks like a few months of lean activity. I also read it that the loss from the India issues has been mostly written off in the last results already, so hopefully this years revs will turn out not too bad in April. That's all I can say for now really as we don't know much other than we're treading water till gdg catch up cash for capex.

On another point which is depressing the overall market, I don't personally see oil remaining at $30 for long. 6 months tops then off towards $60 again. The pain has been felt all last year by everyone in O&G and the news from the majors laying off staff has shocked their share prices as well. For me the news of lay offs in the majors signals the low is near. The Iranian overhang is already in boats having been shipped. Soon it will be gone and only 500k per day extra supply worldwide from them. The demand side has not stopped rising last year btw and the percentage gap between the two is smaller than ever. It will continue to rise until it meets supply again and we know what will happen then. I personally invested in some oil funds yesterday as I see certain companies performing very well when the inevitable does happen. 60$ coming within a year is my guess. All just my opinion of course and like everyone here I have one! :)
20 Jan '16

Well chaps, only a little over two weeks to go till the update. Mind you in this current market two weeks might seem a long time! I see the UK £ has fallen from the 1.52 area to 1.41 in around a month. That's a pretty severe drop and not showing much sign of abating. With our revenues in USD it should count in our favour for the sp being priced in pounds. Clearly it hasn't done so far but that's not to say it won't if the results come in as expected and the pound stays depressed which it looks likely to do. Cheers All
13 Jan '16

Hi Jimmy. Hope you're well. It appears they must now have that facility because they're definitely here today. I'm guessing they must have done at least some of the buying during the drop to be able to hold enough liquidity to make a market. Lets hope it's a sign of confidence from them.
13 Jan '16

Not sure whether it has any relevance or not but when panure joined in the other mm's here last year they were almost always miles below every other one of them at the bottom of the bid. They departed a while back and today arden have joined the party. At least for now they appear to be the highest of the mm bids. Hope it's an omen of good things coming :)
12 Jan '16

You are wrong to chastise yourself for not averaging down. You should be very pleased indeed that you haven't so far. The same money spent today that you might have spent earlier would now seriously average you down. Not suggesting that you do it, only pointing out how much you have not lost from the practice of doing it too early as I did.

As I said before, RG wants to play it like a major and only release info quarterly. Fair enough it's his operation and I pretty much agree. He thankfully was keen to commit to posting the dates for the updates on the web site which at least gives us all clarity about when we will next be updated. It allows me to sleep a bit easier knowing that there simply isn't going to be news unless a major event has occurred.

I could be horribly wrong but there's so much gloom in the world at the moment that I'm hopeful its oversold both in china and by extension here for us too. It was after the first Chinese crash during our night time that we had our big sell off here and it was almost certainly inspired by that rather than anything actually related to Greka. All we can do is try to be patient till Feb and switch off. I'm looking forward to getting outta my pit at 7am for a change.. :D
9 Jan '16

I agree with you IOM. I've always found him to be most accommodating and happy to answer any of my questions at the AGM's I've attended. I can't imagine getting through to the CEO in the likes of BP or Shell etc.

He is big on not disclosing minor information outside the ops updates and results schedule (which is posted on the website for those who are not aware) and I see this as absolutely standard. The recent price RNS is in line with most other companies that have had a big price fluctuation and my experience of that type of RNS is that it is almost always genuine and not deceitful. I am therefore not overly concerned that there is something going on that should concern me and await the update in Feb calmly (well semi calmly anyway!).

Right now it seems that most of us here expect very little to cheer about in Feb and possibly some more bad news on the cards.

Sentiment is so low that I think a little bounce back is on when everything is revealed as operations normal. I do think we'll all be a bit ambivalent though when the update comes in Feb. I can see most if not all of the GDG wells being complete and a decent revenue having been booked for them. However, I wonder how much work GDG will be able to commit to putting our way in the first half of this year and what effect that will have on us. We can only hope that there are some more contracts with GDG to be announced soon and that work is on going with the other clients in China.

See you at the next AGM?
7 Jan '16

Thanks Mince. Hope you're well. I haven't been looking in for ages and then find this...

Be interesting to see how the SSE manages without the "breakers" in place.
7 Jan '16

Yes. Got anything I can cross crossed.. :)

It's all down to how we've actually done this year and if we've done ok (as indicated by no reason rns) and visibility on gdg work is good we should have a decent recovery.
7 Jan '16

Sorry to hear that Omedome.

Have you crystallised your loss? I hope not. Mine is rather eye watering but still have faith that RG is doing his best and that it should finally turn at some point. If no reason turns out to be an undisclosed reason then things will be seriously grim. Trust is very important and I therefore think that it is not the case and that we will be pleased to find things are not as bad as the market obviously fears. Think the shanghai blues are affecting us but that doesn't change the long term goals of gdg or beiijing. As the people that are going to do this work (eventually in large enough quantity to be profitable) we still have a good shot at serious success imo. However, I could just be being hopelessly naïve. :) Until the fat lady sings in Feb I just have to believe that RG has released the no reason rns completely truthfully and honestly to calm nerves in this market turmoil. Cheers

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