The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I'm pure buzzing
Earliest we see an ANN is 10pm uk time, usual format is ANN will be available in 15 mins.
So, if there is an ANN, we will hear about it at 10pm and read it at 10:15pm.
Exciting time’s.
Anyhow, reading time with my littl'un; back to school tomorrow after half-term.
Yep, but whatever their policy/ ASX requirements, I think we'll see a few RNSs/ANNs shortly, just not at every individual level. Getting exciting isn't it??
19:49
or perhaps hopefully positive and not by company choice - material discovery- :-))
19:36
TD I have no strong feelings about how or when the information will be released, my only real beef is with those who in the past have suggested the company MUST have weekly updates during the drill due to ASX market rules.
Based on the post from Bynari sounds as if there may be regular updates (hopefully) but by company choice.
Brom 18:14. Thanks. That is how I imagined it would be.
TD not referring to your post :-)
TD ASX Rules only mention a "material hydrocarbon discovery" in the continuous disclosure section, so if it's "non material" it will be up to 88E & PMO how and when they release.
My view is that the company does not have to release an ANN at every level as you state, whether they do or not is obviously something for the companies to decide.
Brom 17:01, you say nonsense, and then mention "material" hydrocarbon discovery which would prompt an RNS/ANN. But what of an insignificant one? All I'm trying to ascertain is whether the will RNS at every level, something which I didn't think they would do.
transformational drill. here are the 2016 drill news releases. the capital raise before drill looks starndard practice.
RNS releases look as follows
https://www.lse.co.uk/rns/88E/?page=4
17th Jun 2016 7:30 am RNS Investor Presentation
31st May 2016 8:04 am RNS Result of AGM
19th May 2016 10:07 am RNS Issue of Equity
17th May 2016 8:08 am RNS Director Shareholding
6th May 2016 7:18 am RNS Seismic and Acreage Award Update
3rd May 2016 8:42 am RNS Issue of Shares & Cleansing Notice - Placement
29th Apr 2016 7:00 am RNS Quarterly Report
22nd Apr 2016 7:00 am RNS Oversubscribed Placement to Raise A$25 million
20th Apr 2016 2:58 pm RNS Proposed Capital Raising
19th Apr 2016 4:40 pm RNS Second Price Monitoring Extn
19th Apr 2016 12:22 pm RNS Issue of Equity
7th Apr 2016 7:30 am RNS Correction to Resource Announcement
6th Apr 2016 4:40 pm RNS Second Price Monitoring Extn
6th Apr 2016 4:35 pm RNS Price Monitoring Extension
30th Mar 2016 7:09 am RNS Permeability Exceeds Pre-Drill Expectations
17th Mar 2016 9:02 am RNS Issue of Equity
11th Mar 2016 8:28 am RNS Issue of Equity
2nd Mar 2016 3:11 pm RNS ASX Lodgement of Annual Report
29th Feb 2016 7:44 am RNS Icewine #1 Evaluation Update
17th Feb 2016 3:19 pm RNS Issue of Equity
16th Feb 2016 4:40 pm RNS Second Price Monitoring Extn
16th Feb 2016 12:06 pm RNS Issue of Equity
1234
15th Feb 2016 7:25 am RNS Icewine #1 Core Evaluation Update
10th Feb 2016 4:35 pm RNS Price Monitoring Extension
10th Feb 2016 7:00 am RNS HRZ Play Further Derisked
we have been through this nonsense so may times look at OSH or OEL and see how many ANNs they release during a drill!
read rules 3 & 5 ASX.
If there is a major change to plan or a "material hydrocarbon discovery" there will have to an ANN, otherwise it is down to 88E & PMO.
https://www.asx.com.au/regulation/rules/asx-listing-rules.htm
https://www.asx.com.au/documents/asx-compliance/asx-oil-and-gas-asx-presentation-july-2013.pdf
Not sure it says anywhere here that whilst drilling there is any obligation to put out an RNS. It all seems to revolve around making assessments of resource amounts, so still unsure. I read that as an RNS only needed when the flow has been tested, but I may be quite wrong!
transformational drill. Must go. lets hope the drill rig in position this week sparks some upswing.
perhaps someone else can confirm the hydrocarbon encounters info on the ASX for you?
transformational drill. I do agree with both your comments. but as we have seen the SP fever in late Dec has yet to be repeated.
The RNS in the top 4 layers "should" only add to the build up that is the flow test results. There is a long long haul. To get in this late with this lower SP should be a big bonus for some. The climb earlier this week was on an RNS expectation (IMHO).
Best thing to do is look back at the 2016 drill. The SP kept climbing until late spring or early summer IIRC.
London Stock Exchange don't have it. But London South East do if you look back.
16:09, if that's the case we'll be having a right old flurry of RNSs, 7 over c.30days! And 16:11, yep. Damned if you do, damned if you don't. But let's keep the faith and stay positive! :-)
15.54 totally agree with your post, however we could see no RNS for 2 weeks as the drill turns throigh these plays which could also be just as damaging to the SP. Catch 22 I suppose
transformational drill. i was led to believe any hydrocarbon encounter. so that means to me. coal. tar. oil. gas etc. The response didn't include diamonds, gold, platinum and the like but that would a funny lucky find! 480 million barrels of diamonds!!
FAFH, so are you saying that if they encounter bitumen on the very edge of a stratum, they'd have to RNS that?
transformational drill. looking back they release an rns at each oil (hydrocarbon)encounter and as someone else said that is demanded by the ASX. listing Depends if that happens overnight or morning/evening where the news hits first. ASX morning/evening. Overnight LSE.
transformation drill seems to work best.
up to you. depends on how much exposure others want or think 88e needs or this board gives.
Given that the primary target is Torok, and that if the upper layers because of where the drill is going to hit them (on the edge)are not brilliant, why would they release an RNS during the upper layers? Surely they'd wait for positive results further down. I'm thinking that if the upper layers prove better than expected, we may hear, but if not, then we won't. So "no news" might not be "good news". Just a thought.
7 Layers to prove. DYOR
absolutely torok is the primary target.
As some one else posted, It all looks like they are clipping the edge of the oil formation. But then what do we know about where to knock the nail in.
Why drill through other layers?
It is 7 layers + HRZ.
But again, its about putting it about it as even PMO investors don't know that much about 88e. Perhaps you would be happier with the first line "transformational drill" or "one of the largest drills of 2020". Up to you.
It was the thought of something organized to increase exposure.
Agreed with harvey, but I will be cautious on top 4 layers. Because the market will overreact on any sign of bad news. Market need to understand that Charlie-1 is primarily looking for Torok formation. Other zones are a bonus.
100% agree there are still some benefits to picking our way down through the other 4 layers and i believe DW did mention they will be monitoring to see if oil shows are high on the way down which is still a positive result. Hopefully all the right people are watching. Very excited to start getting more news tomorrow onward. 88E is definitely not for the faint of heart.
Charlie-1 will test 7 layers but the top 4 layers are located at the sub-optimal location and high risk. The primary target of the well is Torok and it is highly likely that it will be intersected with good reservoir quality. Anything 18% or better porosity will be an excellent result.
I'm expecting unfavorable results from indigo, charlie & lima but positive results from Torok. Even, if Torok hit oil at commercial oil, this is easily 3-4 baggers from current level.