Member Info for billhunt

All the best to those who can attend the meetings. Thanks to all of those who have attempted to avert the catastrophe of the actions of this board who have capitulated all responsibility towards individual investors.

Can be done on the app. There is a message button on the summary page. Done online. Response very quick. Confirmed. Impressed with speed of response.

Lodged against.

Let us suppose that the contract to refurbish the gas plant was underway. Also the preparation for the pipelines was nearly complete. At present 16-2 is still being tested and may have problems yet to be determined and resolved.The blowout at 36-2 has shown great pressure and needs further testing.Suppose both of those problems were insurmountable.We would have infrastructure without condensate or gas. Perhaps the results would be catastrophic and shareholders would be rueing taking the chances. However, the non ops are still funding the paradox development and perhaps the sequential developments are the safe choice as careful stewards of shareholders funds. We would all love the rapid returns but this is not a simple area to work. It is a new play and perhaps the sequential approach is the more appropriate.

11 million from UK Gov.

We need to realise that the Paradox is not easy to drill. The oil has been known for many years. There have been many notable failures over the years and some successes. Raising the issues of the salt is fair and reasonable. However, this has to be balanced with the new technologies and the data available now. There is no doubt that a degree of consternation is caused by the lack of Data/ reporting by Zephyr. The delayed updates are frustrating and the missed timelines also are a worrying aspect. However, the known problems maybe overcome shortly.

Should be tomorrow if on time. May be that gives the opportunity for multiple updates.

Was posted last year on 7Feb. SRDoddy keep posting.

Perhaps the delays were signalled through previous RNS.
21/12 re 16-2. Conclusion of testing will lead to production data.Rate is increasing and stable.
19/01 36-2 substantial hydrocarbons. Further announcements after additional analysis and selection of operational path to complete and produce the well. Allied to this funding was obtained to support this as seen in another RNS.
On top of this an RNS to show directors taking up options.
Work being done on negotiation for the gas plant and pipelines.
Quarterly update is due very soon.
Work on first tranche of remaining Paradox is complete.
Drill planning and financing for March drill with Kirkwood.
Perhaps, understandable that delays occur as some of these take time and that is without the weather and unexpected drilling hazards.

The RNS was due about this time. If nothing it does show that progress is being made at a board level. Hopefully, there is more progress soon on both wells. Also due are the projected projects for this year. Also the promised update. Plenty going on but not public yet.Wecan all hope that a flurry of news is due.

Not sure if necessarily important as only two trades but 18% rise. Equivalent to over 8 p.

That is 16-2 apart.

On reflection perhaps this silence is reasonable. There are a number of things going on with the board. The 36-2 decision on how to proceed. The gas processing plant. The pipeline for export. Tieing in the new acquisitions. The plans for drilling this year. The implications of the financial expenditure for the year. I think a presentation though promise May have slipped down the agenda.

Reading through the last statement from the company there is a great deal of clarity of the situation. Though timings are vague. RNS would be required for:
The purchase of the remaining Paradox from RSOC.This is expected by the end of January 2023.
This would then trigger the issue of the first tranche of shares to be issued.
The second tranche would be triggered by the contract being awarded for the processing plant.
So no contract yet and assuming no work is being done on the plant yet. Therefore, processing of gas may not be possible.
36-2 is to conclude drilling in January 2023. Still another 15 days possible.
16-2 an expectation of early January. Possible any day soon.
Full update due early in the New Year. Vague but still true and what is early?
Wells to be sunk in:
March 2023 Cane Creek
July 2023 White Sands Unit
October 2023 White sands Unit.
Hopefully, a clear pathway with success but still a long road ahead.

Thank you for attending and reporting.

The fact that we are awaiting approval of the permit has no impact on the continuing testing of the site. The funding from other sources does require some commitments to them to gain further understanding of these plays. The testing can continue and analysis performed. Whilst at the same time drilling is continuing on 36-2. Once the permissions are granted then the process of readying for extraction can begin. The oil has been there for a long time but extended extraction has rarely been attained. This has been a very long time to wait from Rose days so a few months more for 16-2 is acceptable.

Those who invested in Rose under the previous management have experienced a virtual wipeout of capital. However, the crazy schemes of the past are now history. This area has been notorious for failures of drills despite the presence of oil. The area has seen many failures. Yet this newer management has shown more drive and determination to achieve what had proven difficult. The diversification into other drilling areas through buy-ins has proved positive. The amount of “skin in the game” from them is encouraging. The real rise in the share price will come with production not the sinking of the drill. The company has made all the right noises but the next few months are crucial to delivery. Good luck to all.

Laser has pointed out. Around midday tomorrow ans arrival in Rotterdam on the 26th.

This arti cle quotes the long departed Stobie. So old it may be a historical artifice.

If you are new try to eliminate some risk. One way might be sell enough Hur shares at some stage to recover your initial sots this could then be put elsewhere. When to sell is a personal decision. However, if yo do recoup your initial stake you can have some satisfaction of knowing that your remaining shares are free. Best of luck.