Member Info for belisce6

Norskbear... its like at least 6 or so wks to the drill starting..
Cash in bank covers more than that required for drill..
Quite some big players moved into the local namib territory..
Some posts from jimarillo (or similar) about african energy (?i think) staring the obvious.. that getting farmin deals for those not in is better before drill results than after, if there is success...

So no need at all to be so impatient...
Prospect of 459 mean prospective at 25mill or so dry hole cost (?) And 29% COS.. i believe that the guy many on here keep ****ging off, actually has tge upper hand.. as opposed to historical times and conditions..

Its a shame that derampers do not wish to acknowledge this .
But who cares.. its all about making money...
Very difficult to do if one holds such a stock for 5 yrs etc...
In the end.. this stuff is for trading.. not much else to it :-)))

There were no spats at all..
Just mikemike and jiddy behaving like children :-((
Its unfortunate when seasoned posters behave like this..
But who cares.. as long as one makes money :-))
No point hanging around on these type of forums just for reading piles of carp..
Making money is the game.

88e good build a base sp of 2.5 to 3p already by xmas.. if farmout at least for conventionals covers freecarry for two wells and if yukon comes in good with the volumetrics.. those type of announcements are due in q4.. so waiting until q1 2019 to get back into 88e may give one a much higher price..
Time to get in.. or time to get more looks to be kindof now, or very very soon :-)

With all due respect mikemike.. the amount of time you spend on lse and hc 88e boards.. and you had to question me about why i apply 30% as net 88e to a post farmout of conventionals scenario ???

Other than info on new licence, proactiveinvestors interview from yesterday was much more positive :-))
This one was quite dry...

Kindda funny that you responded to my post..
So you effectively directly admit to be a deramper :-(((
And a holder :-)))

STRANGE....

The constant drivel by the derampers leaves one questioning, who do they work for ???

Cashed up with net circa 300mmbo prospective at 29% COS which is made up of four variables with an average 73.5% for those 4 variables.. 73.5%×73.5%×73.5%×73.5%=29%... so a very very good COS.
To be drilled from about mid october..

Farmout process still ongoing to derisk and preserve cash...

Cannot see any issues here..
Am not interested in history.. the present situation is very very good :-)))

Medication or meditation may help guys :-)))

Times have become better now.. oil at 70+bucks :-)))
So much better deals possible..

Sob.. sob.. not needed anymore :-))

Commiserations to you for past misfortunes :-)))

*with 101 and 102.

Not 102 and 102 :-)

"Extremely pleased" with 102..
"Fairly happy" with 102 and 102..
Announcement "Fairly soon"... on 101 and 102..
As for 103.. soon..

Full field development for mengo sounds very good.. cos even if djeno doesnt come in then drills into mengo shouldnt be more than about 3mill or so a pop... strip out mobe and demobe costs and half the depth of 103 etcetc :-)
Sounds good.. just hope no fk upd from here :-)))

What company you ask??
The bank did sign on a debt facility term sheet..
Service contract is no issue..
:-)))

Eco already has plenty in namibia also for farming down.. Would expect any new projects to be in totally different geographical location.. guyana would make sense.. But something like alaska would be good.. its covered with oil :-))

Yes there will be no service contract this mnth.. in prospectus i believe it states september.. No one is posting positive crap.. but serious negative crap.. Service contract can be signed off cos it would include provisos etc covering possible hurdles.. at the end of the day itd be a contract for services covering development.. Meaning first appraisal drill needs to be completed and nnpc signoff amongst other things. The contract itself wont be leaving service comoany on the hook for anything until it all gets to development stage.. So constant talk about service contract completion needing wait for anything else is not true :-)) The banks signed off on their term sheet... so whats the issue ???

My understanding is that service contract doesnt cover giving cash to shorecan for anything but instead the direct development work and capital items required for development.. meaning it doesnt start until nnpc signoff anyway.. so by virtue of this there isnt a reason service contract signoff needs to wait for nnpc signoff if it includes this item in the contract as a contingent item..
Essar mauritius dispute is internal and not even litigation.. if essar m signoff required for these things but they dont give it then they are just shooting themselves in the head...

So the bank was stupid... by your logic..
Hmm.. bank lending money is more riskier tgan service company signing contract for services on development project..
You failed to understand anything i wrote..
What does tge service company lose by signing off on contract without current nnpc signofg particularly when no work can be done without it.. obviously the contract terms would in fact be contingent on signoff from nnpc and whatever else is required.. no stupidity involved from any of the companies :-)))

Yeah.. in regards 3d.. there are many parties at play.. the 3 companies involved plus the two seismic processing outfits and then the cpr.. so about six entities doing their own thing.. not surprised by the delays..

Sorry.. what i meant is.. service contract can be signed off with obvious contingent items like nnpc final sign off etc... nnpc has written off agamore.. that one looks like just an admin court item..
As for essar mauritius dispute.. if their signoff on service contract deal is not required then all good..
If their signoff is required then they bring the entire project into limbo..
Possibly grounds for shorecan to turf them out.. and not the other way around.

It all depends on whether arts mumbo jumbo bout service contract is real..

Service contract is not contingent on essar dispute.. nor agamore..
To say otherwise is ludicrous...

Service contract will contingent on certain items..
If essar mauritius signoff is required but they dont oblige then they only shhot themselves in the head :-)))

It appears as simple as that :-)))

Those comments on service contract are kindof silly.. cos the service company gets its money back from the oil produced.. thays why such a contract would be signed.. has nothing to do with copl cash levels etc..
Such a contract at this stage would obviously be contingent on certain variables.. like nnpc signoff and copl getting the first drill to 6k bopd etc.. similarly to the term sheet that bank signed off...

So i dont really understand the negativity around..
Nor that as someone previously stated, that without essar mauritius dispute resolved, that they couldnt finalise service contract.. surely if essar mauritius must also signoff on it, but reneges due to dispute.. then they would be the ones hindering the entire project and providing potential grounds for shorecan to litigate against them and take their 20% share for nothing...

DW.. i guess most feel similar.. but in the end it comes down to hrz not successfully flowing.. and that is it.. the engineering work was not a success..

But conventionals are another story.. the company has delivered operationally.. so.. conventionals look really good.. should be able to get at least the first western icewine drill at complete freecarry with net 30%.. but i think it should be doable to get both stellar and bravo freecarried for net 30% to 88e.. done the maths and posted it before. The premium paid on drills of 33 to 50% plus backcosts is relatively normal.. been seeing it elsewhere.. :-))
So worth hanging around for those conventionals .

Each one on success case should provide opportunity for a rise in sp to about 8 or 9p... so forward outlook is good :-))

Jiddy.. its very clear that your comment is a good reflection of yourself..

Just keep smashing people on the forum..

While others make money :-))))