Member Info for ART123

12th November 2019:

"Sanj Naha, will remain with the Company but in a new role where he will focus on the acquisition of restaurant groups and technology integrations with Electronic Point of Sale (ePOS) companies and other third party restaurant technology platforms with whom he has developed relationships with."

11th December 2019:

"Sanj Naha, the Company's former CEO has entered into a consultancy agreement with the Company where he will advise on the acquisition of restaurant groups and technology integrations with Electronic Point of Sale (ePOS) companies and other third party restaurant technology platforms."

To me those don't say the same thing. The first one says that Sanj will "focus on the acquisition of restaurant groups" etc. The second one says Sanj will "

JW said he'd sold his Big Dish shares. Nothing personal with AB except that Big Dish haven't done any podcasts with JW since then.

I don't think that chains are going to be signed purely by a telesales team. I think there is too much at stake and they will need the personal touch.

One moment Zak Mir was working with Justin Waite and then there was the spat between JW and AB (Big Dish) and then Zak Mir seemed to leave JW's employ and start working with Big Dish as the Digital Comms Officer. Very strange.

If Tom could do chains then Table Now would have twice as many restaurants on their platform.

I had not seen Zak Mir as Digital Communications Officer for any other companies, nor was there ever any announcement to state he was given such a position with Big Dish or of his employment status - ie is he salaried, etc.

However Sanj, who seems to be the key to signing up the chains, has as good as been shown the door by an impetuous and thoughtless Chairman (Aidan Bishop) who tends to act without thinking things through.

I'm not sure if they will ever get any chains here. The difference between Table Now with it's 3000 restaurants and Tastecard with 6000+ seems to be that the latter have both independents and chains on the platform.

However, S

I was wondering what news might make this share price go up - it turns out all that was needed was a re-hashed lot of rot from Align Research. It's no wonder people lose money on shares if they buy on the back of such articles.

I did ask on here a while ago what Zak Mir's relationship was with Big Dish as his name had started appearing on the bottom of RNS's as the Digital Communication Officer but at the time no-one seemed to have a clue who Zak Mir even is/was.

I still have a hope of making some serious dosh from this share but I think I will wait to buy in after some serious news rather than a rather wish-washy Research Report that just repeats news and info we have known for a while now.

Meanwhile, Interims need to be out in the next 2 days or the share will be suspended. I hope, if only for the sake of the fools who have plunged in today, the management isn't away holidaying and that the results get signed off in time.

Not sure what's going on as it looks to me as if MOST of the restaurants on the platform are open and offerings big discounts both today and tomorrow.

Not sure if this is live or if the App just hasn't been updated or what is going on. Thoughts anyone.

I didn't think the majority of restaurants were even opened on Xmas day, let alone prepared to offer 50% and 25% discounts on meals all day.

Especially when considering that most of the discount card Apps haven't been taking bookings for the whole of December due to how busy the restaurants are and yet here is the Big Dish App offering discounts on Xmas Day.

Very strange.

The vertical Portland zone is 35 ft thick and the well flows at over 200 bopd. If they were to drill 400 feet horizontally through the Portland zone, at a slight slope, then that would be exposure to 10 times the vertical zone and should give flow rates of 2 or 3 times as much as the vertical well flow rates.

In fact, it should be possible to work this out using a mathematical equation to get the optimum flow rates for the amount of exposure to the sweet zone. To drill thousands and thousands of feet is unnecessary and is being a bit thick.

If anything too long a horizontal well through oil that flows is going to f*ck it up rather than the opposite. Pressure will be lost the longer the horizontal well. Very different from fracking which doesn't flow naturally and has to be blasted over the longest exposure possible.

I think the management here should think things through a bit more.

As far as I am aware the horizontal well idea came from fracking where this method had given very good results. Fracked oil though does not flow in the first place and therefore the longer the horizontal drill that can be frack blasted the better. This though is not the case for conventional oil as we have at Horse Hill which flows anyway. All this need is greater exposure to the productive zone but it doesn't need to be thousands of feet of exposure. 2,3,4 ,5 or 6 times as much exposure will surely flow 2 or 3 times more than just the vertical well.

From what I've read the drilling of horizontal conventional wells is a new technology which means there is probably still a lot of trial and error at play.

It is quite likely that they do not have to drill thousands of feet horizontally to get the optimum flow rates. Sanderson said recently that the 2500 feet horizontal section hit a reservoir 70 times bigger than the 35 feet deep Portland vertical zone. However, they are not trying to get 70 times more production - that target is a mere 3 or 4 times more flowing oil.

It is quite possible that a horizontal drill of just 1000 feet or even less would be just as effective and productive, if not more so as the pressure would be greater and the risk of hitting water, etc much reduced. It might be that a 500/600 foot horizontal would be enough to get a 3/4 times increase in flowing oil as against the 35 ft vertical production zone.

Much work to be done here. Why drill thousands of feet if much less will suffice.

Automatic suspension if the Interim Results are not published in the next 4 working days.

I'm not sure if Big Dish Asia was shut down during this reporting period or afterwards but that will no doubt be a big write down.

The shareholders were never officially informed about this demise which is a chronic example of the lack of Corporate Governance with this company.

The directors these days are major shareholders and little else.

Maybe I'm being a bit harsh. I see that 14 out of the 25 restaurants in London are offering discounts today. That has to be better than the card schemes that don't offer any discounted seats on Fridays or Saturdays.

I see the Brighton TM is still signing. That's good.

I hadn't previously been aware that the card scheme Apps do not offer any discounted seats on Fridays or Saturdays or for the whole of December. That is very out of date and rather limits potential revenue.

Eatigo and Discoeats meanwhile are offering varying discounts every day of the week and all over the Xmas and New Year period. That must be good for revenue!!!!!

Big Dish meanwhile aren't too sure what they are doing. They are open but not open - or as they put it: open but there are 'No seats Available'.

Just to continue:

So for example, if a couple are planning to eat at their favourite local restaurant on Saturday night (or Boxing Day) and maybe they belong to Gourmet Society but they won't give them any discount. They can just turn up or book a table straight with the restaurant and pay the full price OR if a yield management company (Discoeats or maybe Big Dish if they widen their discount range) offers seats with say a 10% discount they can book with them. This way the diners get a discount, the restaurant is obviously happy with the deal as they are offering the discounted seats and Discoeats or Big Dish get their booking fee. Simples.

Big Dish needs to decide which model they are offering. At the moment they seem to be split between the two and that just isn't working out. Their discounts are from the card model. Their lack of Friday and Saturday discounted seats is from the card model. The restaurant paying the booking fee is yield management. Drinks not included in discounts is yield management as I see that Gourmet Society includes discounts off the drinks.

As far as I can see the whole point of the yield management model is to allow the restaurants to offer discounts 7 days a week, 365 days a year subject to opening times with the amount of the discount set by the restaurant to reflect their busy and quiet times.

The card model meanwhile looks to be floundering with Gourmet Society offering a 60 day trial for £1. What sort of revenue generation is that?

However, if Big Dish does not change their App/website and offer a full range of discounts then they will look very stupid as all of the restaurants will be pushing for the customers to book through one of the dining card schemes as that way the customer pays the booking fee.

With regards to the discount rates Big Dish management needs to make a serious decision as to which model they are trying to follow here with this company.

There are clearly 2 models;

1) The discount card model as used by Tastecard, Gourmet Society and Table Now. In this model, the discounts are typically 25% (or 30%), 50% and 2 for 1 and the customer pays the booking fee. Also, as I've recently read on the Gourmet Society App, this model looks to offer discounted meals between Sundays and Thursdays and excludes discounts on Fridays and Saturdays as well as all bank holidays and special occasions times such as Valentines, Xmas, Easter, etc.
Table Now, for example, is closed now for the whole of the rest of the year. Gourmet Society isn't giving any discounts at all in December.

2) The Yield Management model as used by Eatigo, Discoeats (and Big Dish Asia before their demise). This model offers a full range of discounts between 10% and 50%, doesn't really do 2 for 1's, and offers discounted meals all day, all week, and every day of the year with no exclusions. With this model the restaurant pays the booking fee.
As far as I can see Eatigo and Discoeat participating restaurants are offering bookings for Xmas Day, Boxing Day, New Year's Eve and Day obviously subject to opening times. Any restaurants not offering Xmas/Boxing Day slots clearly say so but they are by far in the minority. Most are.

Big Dish originally started in Asia as a dining card company. Table Pouncer in the UK also started out as a dining card company. Big Dish then changed a couple of years ago to Yield Management, following the Eatigo model, and that was what they were at the time of the IPO. The restaurants were able to set the discount level from the full range of 10% to 50%, there was a 2-week booking window and the restaurant paid for the booking fee.

However soon after the IPO, when Justin Boer was still the CEO, I remember him saying that Big Dish were setting out to be a Sunday to Thursday discount App helping restaurants to fill empty seats during those periods. This didn't seem to make any sense as the yield management model allows the restaurants to vary the discounts to suit their business. If a restaurant doesn't want to give a 25% discount on a Friday or Saturday then rather than the restaurant not offering any seats they can do so at a reduced discount - say 10%. This is the way Eatigo and Discoeats are continuing to operate.
Big Dish also then changed from the full range of discounts to just 25% and 50% and also decided they were purely a last-minute booking app with just a 2-day window. Both of these changes appear to be a return to the card model and away from the yield management model.

Things could change for the better here. To be honest the first EWT went on for far too long and while the Portland was allowed to flow somewhere near the original test rates the Kimmeridge was always held back rather stupidly, hence the subdued share price.

If the Portland horizontal initial flow rates are very, very good, which they may well, be then the share price could easily rise to say 3p. That would give a m/cap of around £200 Million. Now if that happens and Sanderson was to get his dozy, slow-coach head into gear then UKOG could say raise £10 Million at say 2.5p and this cash be used to pay off all of the silly Loan Notes. The dilution would be minimal - 5% - and the share price could stay up around the 2.5p to 3p range.

Perfect scenario though maybe I'm just a dreamer. I'm certainly sick of the 1p share price.

ATB.