Member Info for B_A_B_A

Not a load of rubbish HopefulDave because I said that I would prefer, not that we don't want. I only speak for myself. I'm disappointed with your choice of words and unnecessarily aggressive response. And I would beg to differ on your point. It shows how quickly True can go with what is now effectively their project. Our 7.5 percent is resultant from the strong negotiation and favourable agreements made with Raisa and Halliburton. From my understanding, our deal with True is not quite as good because they get out proportionally exactly the same as they put in, whereas the other two get less and that's where we now benefit.

I would prefer to see no further updates regarding existing ED, or at least not regular ones. It is simply a reminder that we have gone from a 50 percent, and increasing, share of 2 wells to what will eventually equate to 30 percent of 2, when all 8 are producing by the end of the year with a 7.5 percent share from each. The lump sum paid handsomely makes up for that deficit, but will be quickly forgotten unless invested prudently elsewhere, so the news will only remind of the lesser remaining interest in the project. I fully expect to see either no reaction or a negative one to all future existing ED updates. New ED would be a different story... I think the fully understandable COGCC stance of not wanting to get involved in contractual matters is good news for Renegade as well, because courts will not have a pragmatic mindset of wanting the resource to be recovered from the ground like HNR were relying on the commission to have - they will just be interested in agreements and contracts. It sounds like Renegade are firm in their belief that the contract doesn't allow what HNR claim it does, and frustratingly, HNR continue to refer to the agreements as being their evidence but then decline to show them because of NDAs in place. I hope that they don't defend in court and instead just walk away and concentrate on other existing or new projects. And we really need to hear what these plans are ASAP. All of that said I am very comfortable with my investment, mainly because I'm not even considering wanting to sell any for several years and am very confident that things will be substantially different by then, but I can't see much change this year if I'm brutally honest. Progress will be made for sure, but not in my opinion to the point where the SP will respond significantly.

Apologies, those other 16 wells, not 22!

Rugby, I would also suggest that a conservative assumption considers 6 additional wells, and not 22. 6 are committed to within the agreement, and being drilled as we speak as we have seen, but 22 is only an option and a possibility. Whether there is a 95 percent chance that they will drill them or a 5 percent chance is something that we dont know at this time. May know more after the hearings though. There are many factors affecting those other 22.

Haven�t seen cryptic like this since Whaleoil prowled the board...

Thanks Fad! Hope you're having a good time - and will be grateful for any further updates (info that you feel you're able to share at least)

I would assume it to mean that HNR will be doing exactly the same as it is at present, aside from investing capital. That is part of the reason why I couldn't understand some of the comments made about the deal now freeing up the team to do other things. Would be worth asking the question perhaps?