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some of us have been waiting for years - expected it. what I had hoped for was a slight re rate at key pints that have been met. first oil, continued off loads and new strike.
The market is what it is...and will catch up. however many people are getting really peed off with AIM as there seems only stick and no carrot lately. eco yesterday being an example. masses of heavy oil seemsto be the same as having a duster....incredible
Genghis,
"But many of us have waited those few years already."
Yup. It's a rather depressing thought, isn't it? To be honest, I'm seriously beginning to wonder if some of us LTH's (by which I mean anyone who's been 'in' here longer than a fortnight without making a trade) haven't maybe missed the boat somewhat. I made a small cheeky sell the last time the SP hit 54p (remember that?), and don't mind admitting that I regret not having made it a much heftier sell, some of which I'd of course have reinvested at these pitiful prices. But that's spilt milk, and one can't win 'em all.
I now suspect the PI shareholder 'base' has changed, with traders being at the forefront, rather than 'holders'. But that mirrors the changes the company has gone through over the last couple of years. It's no longer a high-risk cutting-edge explorer (fun), but an ipso facto small producer, with the current drilling being paid for by a partner ( trending towards boring). Even with Warwick West, we're essentially waiting to see whether the magician can pull another rabbit out of the hat (an act we've seen before), rather than some rolled-up newspaper someone's put in there as a nasty prank.
And I reckon the people saying the SP will soar after next year's CMD are in some ways clutching at straws. The now monotonous regularity with which tankers are coming to load up at Lancaster speaks volumes about whether FB 'works', and if the FPSO is operating to expectated standards.
Yeah. Maybe it's the weather...
PS Sympathies to holders in ECO. How come Tullow didn't offer oil-quality data on announcement of the flow testing? At least that's one thing we don't need to worry about here.
Since 2005, in fact !!!! FFS, FFS, FFS !
ash Is it allowed to flare while offloading to a tanker?
2 separate wells not the same place
" if ur not prepared to wait a few years then this isn't for u"
Mb.
But many of us have waited those few years already.
FFS AK, ur sounding like this is ur private rant, we know ur experienced in making holes in the ground, (and you take great pleasure in correcting people) same as i'm experienced as sitting on the hole someone made 40 years ago and emptying it. But give it a rest and what will b will b even if we've got to wait a few years for the end game, if ur not prepared to wait a few years then this isn't for u. Mean while go and play poker or drive trucks and i'll play golf , but please STFU
Nice post adoubleuk.
Is it allowed to flare while offloading to a tanker?
The EPS is all about proving the FB concept.
Albi,
" What I should have said, of course, was 'proving the FB model in the UK for the first time!' "
At risk of really seeming pedantic, having you get some friends from Faslane sending a cruise missile to my house, and having Wellwell spilling his breakfast coffee while spluttering 'f** f***'s sake", might I suggest replacing the 'proving' in your modified phrase with 'confirming'?
Pretty please?
https://www.youtube.com/watch?v=oSohWfEoHf8
Wellwell,
"Oh ffs. Semantics. Give it a rest AK."
The devil's in the detail. So sorry, this is a detail I won't 'let rest'. Listen, I apologised for having to correct Albi, and DC anticipated my response, as regular as a metronome, but I personally feel it's important.
Let's put it differently. What if Hurricane had never put any stress on the fact that the GLA / GWA Rona Ridge area wasn't 'Fractured Basement', but instead something like 'a new play in previously not-properly investigated deeper formations'? OK, that's a bit of a daft sort of question, because although it might hoodwink the average Daily Mail punter, it wouldn't wash with the big moneybags who want more detail. Nevertheless, it's inescapable that for a number of potential investors 'laypersons', who aren't going to look into the technical stuff in depth, the word 'Fractured' brings connotations of that bogeyman, 'Fraccing'. And we all know where that road leads in regard to the UK, don't we? Not because it's technically unfeasable, but... other reasons. So it makes the thing as a share seem somewhat 'dodgy'.
As does the phrase 'proof of concept'. That introduces doubt. Despite the FACT that oil is being produced from FB fields worldwide.
Listen, I agree that anyone who bases an investment decision on what's written on BB's like this is a complete idiot. But nevertheless some people do look at them in ordre to help form an opinion, so what we people in the know should try to do is keep it as factually correct as possible, so as not to project incorrect images. For LTH's here, that's only in our own interest anyway, isn't it?
I was about to rest my case, but now (having been knocked out of an online poker tournament) won't quite yet. I think Albi will forgive me for my correction. But I want to bring up a thing which has been bugging me for weeks, and which seems to be a rather verboten thing to talk about here. SXX.
I can't help thinking that PI investment interest generally, and in anything, might have been affected by that debacle, still unfinished. Not that PI sentiment or trading means much to our HUR SP (or rarely), unless it's 'herd' movement. But there are doubtless some holders in SXX who might have, but now can't afford to, invest here. And also, there's a huge difference between the two, in that SXX was a gamble based on an unproved premise that once the Polyhadrite actually got (gets?) mined, there would actually be a significant market for it. Which is totally 'unproven'.
Whereas, number six offload from Lancaster is the best 'proof of concept' and marketability possible for FB, isn't it? Nothing 'new', other than being a new 'monster' field on the map.
Oh ffs. Semantics. Give it a rest AK.
DC,
Didn't want to disappoint you...
Aduk,
Thank you for correcting a poorly constructed sentence. What I should have said, of course, was 'proving the FB model in the UK for the first time!' Quite right to pull me up on that!
adoubleuk
"proof of concept"
I new as soon as I read the post your reply was inevitale and utterly predictable
Albi,
Once again I must leap in with something I've posted dozens of times here, with but limited success.
' we're at proof of concept stage with FB'
Sorry to contradict you, but no we're not. The 'FB concept' has been 'proved' worldwide with a number of successful and prolific FB fields, some of which have been producing for many years now. True, Lancaster is the first time FB has been specifically targeted in UK territory, but the 'concept' isn't new, nor unproven. This is a misunderstanding of things.
All the EPS is doing is 'proving the field', and this is the case with any new discovery. But in doing so, and admittedly, it's 'proving the model' developed by Dr Trice and Schlumberger. Dr T said that Lancaster would be not only prolific, but huge. And a lot of people pooh-poohed that idea.
The sixth tanker offload (currently in progress) appears to be proving those naysayers wrong!
But the FB 'concept' has never been in question.
John
Grandmother, eggs, sorry - yes we're all fed up with the SP but given we're at proof of concept stage with FB, on AIM, in a climate change focused investor environment - give it another six months, with rather a lot of money banked from Lancaster and Lincoln (squillions) plus whatever comes out of WW, FFD plans etc. and this will see true value.
Bloomin 'eck Albi, I've been hanging in here for 3 1/2 years!
Way too early to call that John - imo. At this juncture don't necessarily believe what you see ... I've seen this time and time again over the last two years. The technical sites never read it correctly, when she flys she will fly. If it was bad news we'd be on 38p by now.
Unfortunately the proof is in the SP!
Johnpwh
"Its all about the current drill, nothing else matters. The arrival of NO is of no consequence as far as the SP is concerned."
Wouldn't put it quite like that, rather a lot long term depends on the long term data from GLA, but, in time, if Hur continue to deliver over guidance the market will change its tune.
Agree Albi. Its all about the current drill, nothing else matters. The arrival of NO is of no consequence as far as the SP is concerned.
Makinhay
My suspicion and gut feeling now is that it's going to be driven down hard before the DST results are announced, then I would expect a rise on successful results. Though - I may be wrong and we have to wait for next CMD update on data.
I'm continuing to hold as not a trader and my timing is dreadful!
We are now about to pick up the 6th regular load from the A.M. And another huge chunk of dosh about to go in the HUR coffers. And it would appear, well beyond operational target guidance. On top of that we will have news any day regarding our current drill..which if recent rumour is to be believed should be transformational. And what happens to the S.P. ...down again! Surely somebody is soon going to see the light here...or am I being delusional? Crazy what is happening with this S.P. languishing sub 42p imo. Rant over. Gla Rich