"PI's don't have pre-drill technical information"
well that's not strictly true jolly
those working within the industry obviously do
as has just been said
sure are a lot of google back street drivers on here
and if there is one singular thing a lifetime spent working (and subsequently investing) in this industry has taught me it would have to be:
talk is cheap
so for anyone new that's looking in and perhaps somewhat unfamiliar with industry practices or the oil and gas sector in general
I'd be very very VERY careful who you listen too :-)
oh look
what's that I can see coming over the horizon
ah yes
it's another monthly dividend payment whinging its way into my bank account quite soon
anyway, just remember
for some stage presence is everything
oh and don't forget the house rules
TTFN x
NOBODY KNOWS
however what I will say (having spent my life in the patch) is
ANY application irrespective of what it is for (at a pre-operation stage) is nothing more than good business contingency planning as the last thing you want (when paying the bills) are operational (and costly) delays due to missing documentation and/or approvals.
anyway
some will no doubt carry on pontificating their petro wiki opine as they just like to hear the sound of their own voice
whereas many others (like me) will sit back and wait for official news in the form of an RNS straight from the horses mouth.
so 'perhaps' the real bottom line should read
you are either IN or you are OUT for drilling results... SIMPLE !!
anyway, looks like this time next week
will be rife with the usual granite city taxi rank rumours which is always fun to read :-)
good luck folks BUT whatever you decide to do (IN or OUT)
make sure its the right (risk v reward) decision for YOU and YOU ALONE and its not influenced / coerced by what you read on the blogs or some third hand hearsay emancipating from the twitterazzi telegram taxi ranks
"it would not be the first time someone has 2 different names on 2 different BB"
indeed MEM
so on that subject...
given you have gone from a sold down bear to a bought back raging bull...
what are YOUR other altered ego name(s) :-)
SB, AFAIK the RNS looks correct up to end of August to me as the 11,334 (warrant) shares were issued on the 12th August and by the looks of it none since.
Gordon only applied for his today, so his 12,000 would fall outside of the reporting date for the RNS
I suspect RKH will only be issuing a 'rolled up' RNS at the beginning of each month detailing how many warrants were exercised in the prior month (which sorta fits with the RNS saying the 60,917,237 equivalent warrant shares have already been block listed) or else they would be issuing thousands of notifications depending on when people apply for their warrants.
just a gut feeling
wait and see
but as the kit kat keeps telling me
wtfdik :-)
"15% cut in NOI expectations vs May update"
indeed but back in May, they also said:
"the Company will increase the minimum dividend to be paid in 2022 by 25%"
so you see, the thing is, as I like to look at it...
24 hours is a long time in the patch but IF that increase is sustainable throughout the remainder of year (which I am in no doubt WILL BE as last thing they will do (despite your 15% cut in NOI observation) is go back on their word) AND with the outside 'potential' for a special one off dividend after full year end NOI / FCF numbers are known or perhaps an increase in the monthly's at some point during 2023 (dependent on other world events and of course any subsequent 'fluctuating' oil and gas pricing) then that is good enough for me.
anyway, like I said earlier, today's update has nothing untoward in it that makes me think 'OMG what the hell is going on with the numbers' but from the comments I've seen so far across the blogs it does remind me of that old saying:
"You can please some of the people all of the time, you can please all of the people some of the time, but you can’t please all of the people all of the time."
John Lydgate (later adopted by the late great Abraham Lincoln in the run up to his presidential election)
TTFN
see y'all next month for the spud of the 'will it or won't it' biggie :-)
"If expected, why weren't they factored into the earlier NOI guidance numbers?"
good observation but it should be noted seasonal wet weather doesn't affect pipeline production
however, IT DOES affect the mobilisation of drilling rigs and associated equipment (as an example) and any planned maintenance and at the time that the earlier NOI numbers were forecast they wouldn't have known the wet weather would have coincided exactly with the timings of any planned work or have been harsh enough to affect them and therefore delay certain key operational / heavy equipment moving / maintenance activities.
FYI, the exact same happens during what they call spring break up where restrictions are often put in place on the access roads (open to light traffic, shut to heavy loads or shut completely) due to the thaw period in spring (as the name suggests) and it is there primarily to protect the gravel roads network from getting completely smashed up from the heavy loads transiting it and of course its in place not least for the health and safety of said truckers.
if you've ever been to Canada you'd know its bad enough driving with a pick up truck on those gravel track roads when they are bone dry in summer time let alone in a truck with a monster load (hauling a rig for example) when they are covered in snow or ice during the winter or slush during the transition period (aka spring break up) or indeed the mud and water when its been raining cats and dogs for a week or two.
trust me, been there, done that, got the t-shirt :-)
anyway, nothing untoward in that report really, delays happen all the time and it's just business as usual in Canada.
roll on next Friday for the next dividend payment and then onto October for yet another dividend payment and of course the biggie which will be the Serenity results.
steady as she goes cap'n :-)
"start looking at the facts"
March 2015 (around about the start of last drilling campaign) SP was circa 70p
August 2022 (5 years plus and still waiting on some transformational award, 2 partners later, no operational activity and having sold off their only revenue generating assets in Egypt for a pittance (albeit Sam said it was a good bit of business selling at a profit) and then subsequently having spent the proceeds of sale being forced into a placing at 7p to help keep the lights on) the SP is 8p
ems the cold hard FACTS
oh and the fun side of it all is
constantly listening to the multi alias Essex fruitcake saying
wait and see :-)
given you are always so far up a certain story tellers arris Bob it sounds like you already have
fiddling while Rome burnt didn't end well for emperor Nero either
5.75p on the bid
who'd have thought it after ALL those glowing posts and name drops from the forums old messiah
EGO's are indeed hard taskmasters eh :-)
"FCA have the means and tools to investigate every trade placed executed and dealt"
LOL TOPPY, that will be YOU (bought, added gazillions, long and strong, never sold a share) busted then
the thing is, I sensed an air of apparent urgency with your latest 'got to go, got things to do' post
you wouldn't be rushing off to try and clean up your err um TRADING tracks would you :-)
its a tough old market once you've been rumbled but never mind you've still got your 2 other aliases you can use or at least that is until the FCA can join up the toppy up dots
TTFN x
No. Of shares before OO
No. Of shares after OO
Divide by 8 = No. Of warrants
BEFORE OO = 458,482,117
AFTER OO = 580,317,053
DIVIDE (any number combination (add, subtract, multiply) of your IQ choice) BY 8 = utter poppy****
its hardly surprising after all these years this numpty is still losing money
CORRECT answer to your question LR is of course as per the details laid out in the RNS
"As a result, the Company has raised in aggregate gross proceeds of approximately US$10.4 million (£8.5 million) pursuant to the Capital Raising (including pursuant to the Placing, the Subscription and the Open Offer) through the issue of a total of 121,834,936 New Ordinary Shares and 60,917,237 Warrants"
ergo it's 60,917,237 warrants with the option to exercise (or not) @ 9p a pop
IF all of the warrants are exercised the total number of shares in circulation would then be:
(580,317,053 + 60,917,237) = 641,234,290
c'mon Essex its not rocket science
but then again neither should be remembering just how many shares one 'claims' to be holding this week or how many different aliases one has operated under during all of those years
ain't that right Garbled :-)
Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco and Ireland. is pleased to announce that it has conditionally placed 60,000,000 new ordinary shares of no par value in the Company (the "Placing Shares") at a placing price of 5.5 pence each (the "Placing Price") to raise £3,300,000 (before expenses) (the "Placing")
FWIW.... perhaps you should go write a book Graham telling the world of your unparalleled business achievements instead of wasting your time waffling about your clear and obvious oil and gas industry inexperience on a faceless blog
but hey as the positively bias sheep keep telling me
WTFDIK about OIL and GAS
5.5p lovely stuff
oh and PS...
a gentle reminder for the GRH fan club
despite what you might think.... there is no such thing as a free lunch...
toodlepip x
1 year since the 100/1 (16,426,953,124 shares) consolidation at circa .3p or roughly 30p in post consolidation (164,269,531 shares) money and yet at a SP of less than half post consolidation price, the single and biggest risk (post RS report) question still remains
will the much hyped (non dilutive) RBL be secured and delivered before the end of Q3 as promised or will Arthur have to once again resort to dipping into his trusty old long and strong retail pockets and issuing yet more of his oft promoted 'no pain, no gain' confetti
I sense there's a pattern forming and no its not just in old toppy ups pump and dumps
BTW
I know they say times are hard but I couldn't help but notice old Art's waistline hasn't suffered
brings me back to one of my favourite ever Art quotes, when asked by the presenter (via a shareholder question) on one of those interviews from a few years back, 'how much money was left in the coffers' his reply was 'how should I know, I'm not an accountant'
priceless it was and just what every shareholder needs to know
a CEO that doesn't know
you say laughter, I said at the time LOUDER
there is definitely an Art pattern of proven v probable v possible forming here
www.youtube.com/watch?v=mAqxmOnSKFk
you say proven, I say not yet
you say probable, I say not yet
you say possible, I say not yet
you say imminent, I say not yet
you say either, I say neither
https://www.youtube.com/watch?v=RJHbTuVcSwE
you say laughter, I say LOUDER
Arthur may well be (in his own mindset) a fantastic old school geologist but the simple FACT is, as a CEO and businessman, not a single cent has been returned to all his patient LONG TERM UK investors :-)
2018 on the verge of signing the funding package required subject of course to jumping through a few 'operational and err um money lending' hoops...
www.youtube.com/watch?v=zTOr2StPFTQ
patience was the cry way back then
40 years in the business eh ?
nothing whatsoever to worry about
LOL :-)
" Then there are some posters who feel the need to tell us they have sold out !!!! why??? "
LOL surely we could ask the same about a certain individual who feels the need to continually tell the world and their dog (24/7 whether at Butlins or onboard cruise ships) that they are always buying and/or topping up, are holding millions of shares at 'X' price and yet strangely that same individual never ever announces (or at least not in public) when they are top slicing or selling !!!
8 long years you've been at it now with the exact same MO
https://www.lse.co.uk/profiles/opulentia/
12 posts already today and yes you are still full of it
tralalalala x
car crash ?
I'd say
over 300 tuned in to hear Art waffle on and on and on for an hour about... himself and not a lot else... LOL
Art: let me introduce myself and tell you a story
I've been in the oil field over 40 years and I've found a lot a lot of oil
I'm an old school geologist and let me tell you there are not many of us still alive that can read 1950's maps
I'm a brilliant geologist but I'm a **** businessman
in over 40 years I've failed to make a financial success of the companies I've run despite having raised millions and millions and millions from hundreds if not thousands of impatient and stupid UK investors
oh and can I just end by saying
the RS report will not get released as no one will make any sense of it and we will just get idiots on those blogs (that me and Ryan spend all day reading) misinterpreting it and as its a report that has been and will be interpreted differently by everyone that had a probabilistic input into it or reads it what's the point
you're darned rooting tooting right Art
what was the point
in any of it LOL
tralalalala x