Member Info for Adw198

“Those with experience in oilers know that bad news comes quickly.”

“The longer we wait for flow rates the better”

Readers are welcome to go back and see which “side” kept telling us to expect the flow rate results from mid October.

These people never concede anything and certainly never see anything other than the best possible outcome.

Great post proinvestor.

I did wonder something similar about potentially cracking on with the build based on increasing confidence (before final confirmation) that its commercial - I’m honest enough to admit I don’t know what’s involved and how much of the costs would be considered wasted. Does seem a big gamble though given cash will be needed for other wells. All views on this stuff valid / welcome - even those like Abzzba who told us to expect results last month and now has done another unexplained complete 360c on his own expectations.

Good comments on the takeover too.

Agreed jojoba

It’s only a minor delay, if it’s one at all. They told us they’d assess the flow rates and if commercial take a view on whether to bring on this month before the winter shutdown.

My assessment / opinion (which I’m happy to discuss or be corrected on) is that finding out whether H2 is commercial is material market sensitive info and should be released. The longer we await that news the less chance of getting it built this month. I’d say the chance has now gone for the same reason.

As I understand it Abzzba believes they’re just going to tell us it was assessed as commercial and they didn’t tell the market, so the next news will be that’s it’s all built and producing.

If I’ve followed this correctly, the line to take from the Ultras is now that the company have done the flows tests (due early November), which have come back as commercial - great news!

But for reasons unknown, they decided to keep the news back from the market and proceed straight to a $2.5m build to bring H2 to production.

In that where we’ve got to?!

I’m with Thorn, it’s just taken a bit longer than they thought to do the tests. I don’t know what’s involved so can’t speculate about what might have been gone wrong/ made it take longer.

Nor do I know how long it would usually take to give the rates from H1

However, I do also think there might be something going on at a Corporate level. The plan was never to start drilling H1 this late in the year and even with the delays we’re awaiting confirmation of a deal with PC.

It’s 100 wells AT LEAST, Doc :)

But nope there wasn’t a single bit of discussion, analysis or explanation for Abzzbas remarkable range of assertions.

Given you’ve gone from 10 to at least 100 in a month, hopefully by December we’ll be upto 1000.

Brilliant work mate. Don’t give up the day job :)

Abzzba to his credit does offer alot of views about the company. For example he’s just made an eye watering claim of “plus another 100 (wells)at least in the coming years”. AT LEAST! :)

A figure which goes way beyond the companies stated aim of 5+ wells a year over the next 5 years.

It’s also a meaty upgrade on his previous claims of “potential for dozens of wells”, “60 wells very possible” and my own favourite from 10 October of

“Heron field can support many more wells, quantity unknown but ten upwards is a reasonable guess”.

Is it negative or nit picking to highlight someone increasing their expectations by a factor of

10 in a month?!

Or just calling out a bluffer?

How much oil the wells produce, what it costs to extract along with what it costs to process, transport, export and sell would be good!

But transitioning from explorer to producer should be transformational for a company like us, so let’s hope we get an appropriate rise in the SP.

I truly believe all of us want that bar may be 1 or 2 obvious haters like Espen.

So come on pro quo, tell us who these people are who are constantly negative who you assert as fact aren’t actually invested?

If you want to confirm it’s not about that would be helpful. Go for it. Or we could perhaps be grown ups and both acknowledge I was at least one of the people you had in mind.

However I still take issue with what you’ve said, because I’ve not seen other people act in the manner you allege. Stopping guessing other people’s motivation.

Pro quo speaking like he knows everyone else’s thoughts, motivations and actions.

These people don’t like their nonsense being called out so just revert to false accusations about other people’s motives. I’ve not even said anything negative today!

Heron 2 will most likely be commercial nobody has written more about the COS on that than me.

Abzzba continuing his long tradition of a difficult relationship with the truth.

Who made the following claims

28

‘TBT, they been telling us for weeks that “a raise is coming”. “Heron 2 isn’t commercial”. “The oil won’t be sold anyway”’

None of those things were said to my knowledge.

The only one with a grain of truth is I said I didn’t think we currently have a deal to sell the oil - because the RNS said they hadn’t agreed it yet

Pro quo and the rest of the ultras never seem to be able to quote anything that actually disagree with / can prove to be false. That’s why they just attack the messengers and always in abstract terms with sweeping statements like he’s just done.

Real holders should always look at both sides of be the picture. As an example, investors would / should want to be fully aware of the likelihood / possibility of a raise because of the likely impact on an SP. If you just refused to consider it because that would be negative, you’re simply hurting yourself. Note I’m NOT suggesting a raise here, simply giving an example of where considering all possibilities is helpful.

Anyway, a good start to the week here, 2.65 seems a tough nut to crack but hopefully we get some positive news to really get a breakout going. The PC deal will be interesting given how long it’s dragged on for and that they committed to trying to have it drafted in October.

“the traders attacking everything about the company on here every single day”

Utter nonsense. What we have on this board is a series of often wild claims about the company which sometimes get queries / challenged. At which point the toys get thrown out of the pram and personal attacks on the motives of those querying start.

Hi Tenbag,

Popped you off filter and I see you’re continued in the same old vein of offering nothing beyond an erroneous and snidey commentary on other peoples posts and intentions.

If you want to take issue with anything I say that you perceive to be negative then go for it. Address the message not the messenger. You’ve said you came on here to defend your investment - well defend the company and attack fake news. Don’t just attack individuals

I’m guessing you’re Man U from telegram. Is that right?

If the refinery is up and running by 2026 like Abbzba insists I’ll give £100 to charity and share the donation.

If we have 19 wells in 2 years I’ll do the same.

If we get the first 2 fields up and running and use the PROFIT (or a JV) to fund more this could be a great business. No need to exaggerate the timeframes, likelihood or profit.

I can’t work you out Thorn.

You alternate between reasonable and bonkers! Your figures are definitely the latter. Off the top of my head I can name ARS, HZM and HUM that are / were resource rich but couldn’t deliver. We’ve done well to get to production but let’s keep it realistic and remember that we have tea and biscuits to fund in the short term. And also let’s remember we haven’t found a JV partner to date - my own view is that’s extremely likely once the results of our first 2 drill / wells are known.

They’re your projections, not Jimi’s?!

The company themselves are aiming for 5+ a year, so the projections go beyond what they have shared. Anything is possible but I’ve not seen many examples of companies exceeding such hopes.

Can I (constructively) ask where your profit of $50 has come from? I wasn’t aware anything was out there re OPEX

You asked, I answered. Many posters seem hugely aggrieved by my presence here but no worries if you don’t want 3p and me gone.