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Lot of chunky trades going through the past week or so. I don't give much notice to buy v sell on this site. Any interpretation on what the appearance of these trades mean. I'm assuming. Iis or bigger players getting involved?
Jtd - think you're spot on with this one.
One reason for them heading to Delhi might be for some PR purpose or tied to some kind of contract being signed. In which case could end up with news What I think is certain is that there'll definately be some news coming out of this trip at some point before the Calao drill rns.
Presumably GC will be part of the trip that JW undertaking this weekend. Would expect so - can use the cricket as good common ground. Can't wait to hear the news from the meeting!
Thought most of the new ones were offshore? Might have misread it though.
Must be plans afoot if JW is traveling all the way to Delhi for meetings there. Be interesting to see what comes out of it. Hoping extra rigs and we get to be operator on some of the prospects??
If RH continued to dispose of his shares at the same rate he was doing in Q3 2018 then he should be long gone. By my calculations I did last year I remember forecasting him to be gone by Dec. Maybe slowed his disposal so one never knows. Either way don't think is a major factor anymore.
Think been discussed before but the thing that confused me with the farm out is that it appears to include insheka bit at same time contingency with the data room. Perhaps just a case of them hedging their bets
Chris oil does not need to issue a TR1 on a sale. Only when a threshold is passed. Also has some time before having to report - think 4 days It does make sense for him to sell into any rises and derisk or take advantage of movements.
Classic! Protesters using wood fires in their camps. Couldn't make it up! Haha Pollution at fracking protest site rises despite lack of fracking https://www.theguardian.com/environment/2019/jan/22/fracking-polluted-kirby-misperton-yorkshire
Hi Jtd. Totally agree with your view on lack of progress that happened in 2018. The big plans for the drilling campaign that came to nought. Every right to be asking questions - and I hope the BoD get a grilling on this at the AGM. Also agree that a company should be able to have multiple workstreams going in parallel. It's crazy that can't seem to do this. However, I do think they have taken the decision to try and push CPO5 forward. Although we are not the operator this does take work and pushing. JW last year did say the were pushing ong to switch so we could be operator so could move faster. As I say below, I think getting extra rigs into CPO5 is key as this is demonstrates that we can do things in parallel. In would like to see us take over operations in CPO5. Or at least some of the new drills Re pintadillo, although they've not been specific, I read the rns as them basic accepting was a duster and therefore want to explore other blocks and improve the seismic with oxy. They do need to crack on. We've had the rig on pintadillo for months. Seems a complete waste of resources not to have a clear plan on using it Emphasis now has to be on the BoD pushing some more tangible results. I think today shows the market has lost some faith due to previous delays.
Didn't expect massive moves on this update but surprised that we didn't not move up more than we have. Think will need few days to come through plus the news on spud I'm very happy with the q4 results. This was a big potential downside risk given the shenanigans over the Ecuador website. The response shows that company were not hiding anything and just been taking actions to maximise their profit. I agree with another poster below - far more efficient at the moment to put efforts in cpo5 rather than chasing platinillo. Concentrate on plat maintenance and the infrastructure for the future. I think part of reason for muted response is that does not indicate any action that we don't know about already. Given slow campaign last year think the market will only move this on results rather than promises. Getting these extra rigs into cpo5 is fundamental to me. This update just says they are still discussing. Need some action on this - stop discussing - make a bloody decision and do it! Anyway, future very bright. Expecting a bump up on spud news for next cpo5 drill.
Depends on expectations. They have Portland plus this. From vertical wells. With a few horizontal / specifically designed wells off the same pad they should be doing very well. If Brockham comes in there or thereabouts I think will be a success going forward. I've never believed these estimates of 1000's. Always going to be multiple wells spreading out off the pad giving higher aggregate figure. All good imo
Application for permission is based on condition 7 of the planning approval (below) which is about ensuring planners approve all equipment entering the site. Not seen any pics of a pump so far on site. Either it is an oversight by Angus in not specifying or (more likely I suspect with the amount of shenanigans going on) It is a standard process to inform the planner exactly what pump specs they plan to use. Condition 7. (a) no plant, building or machinery whether fixed or moveable, other than those permitted by this application, shall be erected on the application site without the prior written approval of the County Planning Authority in respect of the location, design, specification and appearance of the installation, such details to include predicted levels of air quality and noise emissions and their tonal characteristics;
The latest shenanigans do perhaps explain the Xmas shutdown. Tidswell and Vonk have a barney and then want a cooling off period. Perhaps also that delay needed to arrange funding. Although I've been against the fundraisings for being a bit low and not including PIs they do make sense. Imagine if we had never bought into Balcome and then Brockham was a duster. Would be game over. The strategy looks like it has been to diversify risk. Has been painful how it's been done but there's certainly a logic to it
The regulation states maximum periods for calling the meeting and then subsequently holding it. Vonk therefore has flexibility within these timeframes. E.g He could have notified on Friday and had the meeting this coming week if he wanted. Those saying is within his hands just stating that he has this flexibility and will take advantage of that to suit his position.
Re dates for the meeting, this is in Vonks control so he'll call this when it best suits him according to the stipulated time frame. I suspect he'll wait until we have some initial Brockham results or there'll be other things in the background like the investigation, bringing support on board or progressing Balcome. Suits him to line all the ducks up before he makes his move. Positives - The fact that they're fighting suggests they think there's a lot of cash at stake. Also if Vonk ever needed motivation to get his arse in gear he has it now!