Member Info for Adw198

I have absolutely no buy agenda so unlike you holders I’m agenda free. Although I’ve always been objective and honest anyway - traits lacking here alongside READING.

Exactly magna

What was progress has actually been made since the earlier updates about the deal? It was seemingly agreed in principle a couple of months ago. It’s still not in final form!

Unlucky mate, maybe next time

Jesus have some self respect and humility. I said we didn’t have a deal to sell anything and it’s been confirmed. And we still don’t have one. Incredible to call me stupid when I was literally the only one to read the earlier RNS correctly.

Even tenbag hasn’t tried arguing against that.:)

There’s no deal. It’s in black and white it’s not drafted yet. It then needs approval by the Mongols and signing . I’m repeat here because you don’t seem to get it.

I’ve been super clear about what I held and the fact I now don’t. But I’ll have another few days correcting you liars - my wasted money gives me that honour I reckon

Exactly the magnacarter

The last raise was 46% discount so even if you (generously) apply that it’s a car crash. And for what to drill H3 with the fingers crossed?

@velo

I’m the only one who correctly called there was no deal to sell. There’s still not, hence my scepticism that a single penny will be received this year. It’s not the end of the world it’s only cash flow and there should be plenty left over from the $9m raise.

That’s not my concern - I (also) correctly predicted the deal wasn’t close anyway. It’s what happens next year to take the company to sustainability - which was the GOAL with 2 wells. Certainly won’t be happening from 1 and even it does wipe its own backside it wont fund others. So there’s not a viable fundamental model here.

I’m not exactly smart for these successful predictions as I still lost. But at least i can learn from it. I also take comfort in the fact I was mainly undone by a dril with >80% cos, ie that’s just bad luck. It happens - it’s how you respond. Doubling down with silly claims won’t help.

Ok so we be both agree it’s not producing anything this year.

As for H1…we’ve been here before. NO DEAL to sell and no mention of it being close. Not a single penny to be received this year.

Some humility wouldn’t go a miss mate

“First Heron 2 may or may not be producing this year and lets realistically assume thats a negative. So what! Heron 1 is producing and will be bringing in cash within the next few weeks apparently”.

As a matter of fact H2 won’t be producing this year. The RNs told us that. Jesus wept it’s not even a debate

The deal to SELL oil isn’t even drafted yet. It then needs approving, then signing which we’ve already been told isn’t a quick process. How quickly do you think they’ll pay us - I’m guessing it’ll be AFTER they get paid themselves with an added lead time.

No money will hit our bank this year, that’s pretty clear. It’s not even a big point btw, I’m sure there’s enough left from the raise to see us thru winter.

Then what?

@investor

It may or may be able to produce at commercial levels but it won’t in the near future. It’s suspended for the winter isn’t it.

Last time it was 1.80 there were a 3rd less shares in circulation. Unfortunately i just don’t see how the MCAP is justified on 1 well producing 200-300 bopd a granted this may / probably increase. Economies of scale on costs now fallen away too.

DQE haven’t done an offset payment deal for either of the first 2 wells, why after a poor start would they pivot to that now? It might happen but that seems optimistic to me. They’ll screw MATD on the terms if so, but I agree it would still be the best outcome.

If you weren’t invested would you want to buy in today based on chart and / or fundamentals?

Good luck anyway

“H2 can produce next year no problem”

I’m sure it can. They told us that much “with productive potential estimated to be around 30 bpd”

Good luck paying the bills with that lads

H2 won’t be producing this winter. That’s a fact confirmed in the RNS.

It might next year - that remains to be seen but it doesn’t look good. Then what?

What date do we think the dividend will be :)

@researxhand hold

You tell me why I’m still here? What’s the latest theory?

I’ve invested (wasted) a couple of months and several grand here. I’ve probably earned the right to have my say - especially against those idiots like yourself who dismissed all critical thinking.

Im also interested in hearing other peoples sensible analysis so I can avoid a similar mistake in future.

I do hope you personally lost a lot. Karma has come calling for you and the rest and it’s really softening the blow :)

Duster is a little unfair but generally accepted shorthand for non commercial. It’s why they suspended it for winter. Might they be able to salvage it - perhaps. At what time and cost though?

And what happens if they do leave it - shuffle up the road to H3 and hope for the best?

The news was a disaster and there’s not really a credible plan to get to profitability.

Morning Investor

I regard you as a fair and honest poster so regret the result for you (and me).

I’m surprised you’re not more downbeat - I know you rely heavily on charts but don’t you think the fundamentals are now very shaky. 1 producing well isn’t going to be self sustainable or fund future wells so surely a raise is on the cards? The only questions being when, for how much and at what discount. As you know, it was 46% last time?

If you missed it I sold out for a painful £ loss

@velo

I’m not sure what I got wrong here - certainly not my interpretation that there was NO DEAL to sell.

Yes that will (probably) come but there’s no way 1 well will sustain the venture. Don’t take my word for it - listen to what the company themselves have told

us.

As for costs - you do realise it’s not free to extract oil or run a listed company for that matter?

Placings ahoy!

@velo

“The company is now profitable and is now producing revenue which covers all overheads”

Ha what a joke. 250 bopd of UNSOLD oil won’t pay for anything mate.

Let’s see the calcs please.

In fact, better still let’s see where it’s said or even implied that H1 will consistently 1000bopd

You predicted £10m WINTER revenue.

You’ll be lucky to get 1% of that this winter land in the bank given there’s STILL NO DEAL drafted, ratified or signed. Then you’ll have to wait to be paid.

But yeah the RNS is brilliant.

@tenbag

I sold at 1.82, but calling me and idiot for selling anything is funny given you’ve insisted I don’t hold.

Or are you finally ready to accept you got that wrong - as well as everything else?

How’s the lads on Telegram? Imagine not only wasting time and money on here (like I have!) but also running a group on there. How long have you been trying to pump this rubbish?! What a prized p r I c k you are.