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Does this news surprise anyone, 88e have shown that they are a very proficient organised drilling outfit, with or without completion of the farm out, we need to ensure that the drilling plans for the winter are ready, as the article says Erik has said target drill spot changed so paperwork needed amendment.
It is likely that whoever farms in may well proceed with the 2 planned drills that have already been submitted whilst they re-visit 3D and decide on full future drilling plans,
I see this article as very positive and that we may well hear news next week. I concur with Brom that Erik appears to be still involved and with his experience we should all be grateful......
Involvement with Erik and Jade in Yukon next year could be very interesting...
Bring it on..
GLA
BB32
Desley,
You may find this article interesting, I believe that you could do as you suggest but get some proper advice.....
Do you pay UK Income tax on earnings in the UK?
https://www.thisismoney.co.uk/money/experts/article-1690538/Im-not-a-Brit-can-I-open-an-Isa.html
This was an article from 2010 and ISA limits have changed, the article does suggest contact HRMC this seems a quick phone call to them might give you a full answer...
One thought . What happens should you cash in over in Aus, then announcement of Farm out happens and SP goes up before you can buy Shares in UK?
Lots to think about...
Good luck with whatever you decide....
BB32
Not relevant yet but.. When the Unconventional data room is open it could get very interesting.
If Several Companies have already made soft enquiries - then our potential acreage might interest the big boys..
https://www.argusmedia.com/en/news/1915042-shell-says-shale-assets-on-offer-are-overpriced
Here's hoping..
Back to today -let's see the current rise continue .. 42m sold in Aus last night.. Up 13.3% nearly stayed at 1.8c but last minute sale dropped back to 1.7c as always seems to happen there.
BB32
Des, Not a leaky ship - just the start of FOMOFO - well advertised Farm out scheduled in June . If leaky I think number of shares sold would be well over 100million by now.
Let's be real here the potential is so great the SP should have been much higher than this, but the expectation of the 'gamblers' didn't like not immediately succeeding with Ice1 , Ice2 and Winx
Obviously the potential Farmee sees the real value, won't have long to wait.
GLA
BB32
Morning all,
June is busting out all over ! 0.095 being offered to sell, this hopefully is only going one way now.
Oh the guessing games , who will it be? When will it happen? What will the price be?
Loads of oil by April next year?
GLA
BB32
Phrontist,
You are way off on this, it is more to do with COP market direction see graph ...
https://stockinvest.us/technical-analysis/COP
COP along with other Majors always have open lines of credit, they would probably be able to deal via free cash flow in our case, they certainly would not need to approach anyone, and no-one would find out until deal is done. Not the way the Majors work.
BB32
Look and ye shall find>.........
Share Chat,
General Chat,
Horse racing tips >...
Was on that site twice on Sat, Horse/football tips don't look that good either>..
The only way is up now..
Good luck all
BB32
Taken from Q1 results earning call yesterday.
"Finally, it's not on the slide, but I'm going to take another issue head on and that’s M&A. As you've heard from me many times, we think of M&A in three buckets. First incremental fence line transactions that add value such as additional working interest, royalty interest or coring up our acreage. We're going to do these things, under the radar day in, day out.
The second bucket consists of high return bolt-on assets or acreage deals and they could be larger in size. They also make good sense. We're always on the lookout for these kinds of opportunities and we executed a few last year. But I'm sure the bucket people seem focused on now is the third one, bigger, corporate transactions that required premiums. Of course we pay attention to what's out there.
However, we've always said the bar is very high for these large transactions and that's still the case. We're focused on returns and we won't do transactions that are not in our shareholders' best interests."
Let's hope that he might mean us >...........
Full article -
https://seekingalpha.com/article/4258257-conocophillips-cop-ceo-ryan-lance-q1-2019-results-earnings-call-transcript?dr=1
I agree the longer this takes the more likely it could be one of the big boys...
BB32
Whilst Eagle Ford has now been producing for a long time, people are forgetting that various Companies tried to get oil out , and after 20ish drills they all virtually gave up until it was done,
Did we have the funds for 20 drills?
I think the land grab and diversification will be proven to be a shrewd move ultimately..
Yes it is disappointing from a SP point of view, people are saying they signed up just for the unconventional, but surely they must have known that it was speculative with no guarantee from the beginning Dave's 50 /50 chance..
I believe had we known that we had conventional at the beginning that's where we should have started, but it was only Oct 2018 that we had finalised all 3D and current inversion info etc.
We are where we are, whilst we have diluted value by number of shares , we have substantially increased amount of oil.
What concerns me is the number of people who expect COP to be the chosen one , what if it is someone else , will this affect the SP , surely, but what matters is the deal....
Not long now hopefully.
BB32
Jiddy,
Are you meaning
"The Company continues to receive third party interest in the HRZ shale project and anticipates being able to integrate the data from the current evaluation into a dataroom by mid-2019 in order to commence a formal farm-out process."
BB32
Moneyhawk/Chartman
Re yours 13.35 &13.36
I view the thought that a pre condition as part of farm out could be however many drills per year are carried out they must drill to HRZ depth and supply 88e with core samples and all info...
Just a typical type of contract condition..
If this is so then another shrewd move by DW behind the scenes that we are not aware of..
Makes sense to me.
BB32
My thoughts are that --When the RNS comes it will likely be notice of a trading halt pending full disclosure re farm out partner...
Now if the majority of readers of this BB are to get what they want, the full statement would likely be from an American Company who would have to disclose this in the USA first on the opening bell which is 2.oopm GMT so news would be 11.00pm in Aus.
My thoughts are that at opening time of ASX notices in the morning, it is still Sunday in the States and market not open.
I don't think we will get news until after the AGM, but what do I know?
BB32
Never,
I believe that DW would have told us if the whole lot was up for grabs, he has told us that he has a prefered bidder for the conventional, I have no reason to disbelieve him,
We will all find out soon enough
BB32