Member Info for Adw198

So you think Doc is here to talk it down for a better entry price? I’d be very surprised if that’s the case but we’re all internet strangers so who knows. Even if it’s true I see no moral distinction between talking something down you don’t hold, than talking it up incessantly because one does hold.

Best to stick to attacking misinformation where it exists imo.

Not sure who you’re describing @ proquo, or what comments you’re referencing there - would help the debate if you could highlight misinformation.

My average is also under 3 and I’m hopeful / confident of a nice return if / when we start selling in the next few weeks

I’ve been surprised by the lack of knowledge amongst the long terms bulls here.

I’m only here for what I hope will be the spike on the RNS that we’re producing / selling, so I’m not well informed myself. But for people not to know what a well will cost and what it might produce whilst telling everyone this is a no brainer says a lot.

Thanks @undd

Those who thought it was $1.5m for each new well (so circa $15m required to get 10 wells) must be horrified to read it’s actually more like $40m.

@investor

*If* it costs $4.5m for each new well (and I’m happy to be corrected if that’s inaccurate) then it’s not conceivable we could get the 10 wells that are being speculated without funding / some kind of JV in the short term.

Whether the rampers like it not, that’s my opinion. And I’m invested here, admittedly not long term.

@abzzba Yep I have extremely limited knowledge of oilfields and drilling. I can however digest a company telling me they need to test whether something is commercial or not.

And I can certainly see a need a for a future raise!

@investor

If it’s $4.5m to get a well up and running as quoted for Heron2, it certainly sounds like a raise would be needed to further explore, hence the DQE suggestion being sensible.

Well non commercial drills / wells are definitely on

my risk radar because the company themselves have said we’re waiting to find out if Heron2 is commercial. The odds seem in our favour, but Heron 1 drill was different to Heron2, as that flowed naturally to my (admittedly limited) understanding.

Re funds it’s hard to know what we’ve got left. Gobi was well publicised as $1.5m, badged as cheap. Heron2 was deeper so my simple thoughts would be it cost more. Getting 10 wells producing won’t be cheap, albeit less of an issue when producing from the first few.

One way or another I expect a big move over the next few weeks with a production (and sales) hopefully starting and Heron2 results.

Objectively, the articles do seem to be an update, although I agree the journalism seems shoddy so hard to know what to believe. Hopefully the involvement of the Federal government resolves it as these stories unfortunately will definitely affect sentiment, whatever the substance behind them.

@abzzba That would be a great deal imo, mitigating the risk of non commercial drills and associated need for funding.

I’ve not followed the takeover talk given how polluted the board is, but was amused by people emailing the company to ask if the rumours were true or not. :)

Another issue we’ve got is nobody appears to know how much oil (and therefore £) Heron 1 will produce. It was noteworthy the only answer given yday was someone quoting what 10 wells might produce.

Still surprised that were down here seemingly so close to production and I also don’t rule out some SP manipulation, but as Doc 83 says those who believe that are essentially conceding they’re in the hands of the manipulators agenda.

@doc

That’s a great question. I suspect (hope) it’s a combination of confirmation of production (with a deal) and Heron 2 being commercial. If both of those don’t happen we won’t go anywhere imo.

This board is unquestionably more positive than negative. Some of the drivel from the likes of wiseowl is nauseating. Yday he claimed a £130k but was evidence Gobi was a goer, before an hour later saying it was always expected to fail anyway.

Then there’s people posting several times a day whilst saying they’re relaxed and not bothered about share price fluctuations - sure!

I do think a takeover is possible as I find the failure to get a deal agreed interesting. Perhaps they’re just playing hardball knowing we’ve got no other option but it’s bizarre there’s a chance we’ll be producing before having a deal to transport and sell. I wonder if they’re waiting for Heron 2 flow tests.

It’s a binary play for me from here - we need to producing with a deal AND heron2 to be commercial or we’ll drop right away. I’m cautiously confident.

Thanks Thornogson

6 Heron wells is obviously 5 more than we’ve got confirmed. Hopefully that’s where we end up.

I gave a list of 4 catalysts last week

Permit

Deal to sell

Heron 2 results

Gobi results

Permit great news, Gobi mixed. Looks like our winter fate will hinge on the deal and Heron 2 flow test.

I find the lack of a deal a little odd, ie we’ve only just received commercial terms despite being at it for months. Nevertheless surprised not to see us open up as it’s looking positive for production and the agreement to not need permits is indicative of real cooperation from the authorities.

Can anyone please direct me to how much oil is expected from Heron 1?

Great find, very reassuring

An exciting month one way or another awaits.

Deal to sell the oil

Permit

Heron 2 results

Gobi results

3 out of 4 positives would be brilliant. The deal is the intriguing one as I consider that MBs fault if he doesn’t get it over the line having commissioned construction. I’ve read a few takeover rumours and I could see logic in that, ie it would explain why they’ve not managed to sign anything despite apparently being close for months.

Yes they’ve downgraded to just a 45% increase on today’s price. I’ll take that.

Instead of just calling anyone who offers a counter to your scattergun attacks, why not enlighten us with why you’re reading broker notes on a share you’re not invested in and don’t intend to be? I’ve got no problem if you’re short by the way, it’s just as valid as being long.

M1Rob simultaneously telling us this is rubbish and his big evidence is a broker note targeting a 45% increase on todays price.

Good work :)

No my fault for misremembering what the actual RNS (clearly!) stated. Monday was quite a rollercoaster!

Let’s get these drill results and start moving back up