Member Info for BigBear2

Ok got it now....Balcombe by end of sept...a lifetime on aim... With this final approval, Angus Energy now assumes Operatorship of the Balcombe Field Discovery on behalf of its newly formed partnership. Angus Energy will conduct an approved 7 day well test on the horizontal well at Balcombe before the end of the Q3/18. The market will be updated in due course.

Fair enough but what about Balcombe, any eta for the flow test yet?

why UKOG is flying after having just kicked investors in the nuts with a 0.9 placing and this is on its arse?

Required to hold lol. Personally at this level I believe its worth holding about half your target amount at this kevel, as news could drop unexpectedly... Or you get a chance to average down nicely with any placing if you have some powder dry. I estimate a potential 0.4 placing (so 20% less than current sp) vs a lock out on NNPC approval at min 1p possibly higher.. Surely worth some skin in the game....?

The thing I can't understand is WHY does Art need such a huge wage bill for COPL...he may want us to be a mid-tier company but we are a tiddler right now.. His own bloated salary aside (that IMHO he should take shares in lieu of wages for), why, when there is no drilling activity going on is the company not being run on a care and maintenance basis until approval. You would assume the well design etc. has been sorted a while back, so what are they doing....?

MMs bored, punters bored, even derampers bored. Some news pls Col to start to turn this around..

To be learned here - the mm's let their mates out with a fake rise on last RNS. As the trial is a failure they will be marked down to cash - and that dwindles at a frightening rate.

Lol , sorry missed that one after hrs... FYI the ref to Col's single malt is a reminder of the picture he posted on twitter after first gas with a bottle of single malt and feet up as if to say 'job done' I think we all need a swill of the single malt to get through this debacle....

Col when you have slept off last nights single malt be a good lad and issue an RNS as is the norm on aim for resolutions passed. You can then go back to sleep....

Just to show how silly the mkt cap is here we are about the same as MX Oil who have a tiny share of a producing field ..netting 160bopd to them. Min initial productiion here (I reckon due to POO Art will accelerate the EPS) will be 5000 (2000 bopd net to COPL), so basic maths will tell you based on MXO current valuation fair value for COPL would be 12 times the current mkt cap - for starters....

Harry I am assuming you are heavily under here(as we all are at some point ), but no point selling out on the cheap here... Let’s hope the Nigerians wake up out of their administrative coma and sign off a deal that’s lucrative to all parties - not least us!

When an asset is this cheap I cannot really see the sense in a JV - other than to Col as he keeps his job. You are getting infra, proven reserves in the ground and proven production. That's all the leg work done and gift wrapped. An accelerated development plan (not a measly 2 wells every 24 months or so) is what's needed to monetise this pronto, so what is the point of having Col and co on board??

Jiving, thx that makes 100% sense. Thank god he did not succeed COPL has more than enough on it's hands with Nigeria and Mozambique.

That's how I read it. No mates rates placing but some sort of OO/RI available if needed.

This is more about making Laurel & Hardy realise they cannot mindlessly dilute holders of a company they, as directors have invested v little of their own personal wealth in. In other words get this sold and stop sponging, whilst decimating the sp... Hopefully this will put a rocket up their a*rse to get the SR completed....

yes, so no placing allowed by BOD

. As at March 31, 2018, the Company’s cash and cash equivalents amounted to $3.1 million. . General and administrative costs were $1.3 million for the three months ended March 31, 2018 So we can assume current cash is approx £1.8 million (eg $1.3 cash burn till end of May), which means we will be out of cash by approx Nov. I am expecting an announcement on licence by end of Aug (at latest) and then Art has no choice but to place as he cannot let the coughers run dry. So thats the cash situation, but other than that what else is Art up to - We are expecting to here something more in Aug on Mozambique.... I notice no one has mentioned this from Mgt 2018 Q&A - Pre-License Costs:- The $0.3 million of pre-license costs for the three months ended March 31, 2018 relate to an anticipated project in Canada. No pre-license costs were incurred for the same period in 2017. Anyone have any idea what this is??

Just put this clown on ignore, problem solved.

Hopefully someone will ask today how much longer this will have to take and also as Col cannot be arsed to issue a RNS detailing current 11a flow rates if he could also let us know this.....and also have they submitted the response to IPPC questions? Like most I am simply awaiting the red dot to confirm either a JV or (preferably) a t/o....

Yup just suggesting 70 as a baseline figure. Let's hope the Nigerians stop arsing around and issue the NNPC.