Member Info for Bridgedogg1

And back up to 0.7p going to be a predictable month or so.

I have to say that those who got called out for saying a share overhang from the funding deal would temper any rise post spud called it completely right.

Did they get the bond issue through the courts?

Just been reading about the Alaska permanentfund that distributes $1b per year directly to alaskan residents.

I think you are right, expect it will follow pretty much the exact same timeline at Charlie 1 Q1 2020.

Oil Search/Repsol moved their first oil timeline up by 2 years. If the results are good I wouldn't be surprised in PMO looks to do something similar here - 2022/23? They are selling elsewhere and the economics look good.

Let not forget we have the lateral side-track to appraisal well due in Q4 2020.
The HRZ results should kick start HRZ Farm out very soon after the drilling in Q1 2020. We should receive cash on that one so I'm hoping that will cover off cash needs if we can get the right deal quick enough.
A lot will depend on the drilling cost of Charlie 1, if we don't need to use the additional monies raised to cover possible overspend of $23m then cash shouldn't be a problem until HRZ farm out is achieved (I think it is quite a way along already).

Like this lot I’m also thinking it’s close to the last time we can get in at these levels. Sad efforts at trying to push the sp down for entry when all it actually does is exasperate 4 people you never met.

When this starts moving up I don’t think it will come down again pre drill. I also don’t expect a huge spike for the drill, I think we will move up and then trade around 1p-1.1p until the result.

GLA

I do love the regular drilling updates from UKOG. My prediction is that the first horizontal isn't ideally positioned and the flow rates are disappointing but will provide additional data will will enable us to hit the max bopd. I'm in but have some in reserve in case this scenario plays out.

So he has been kicked out of a different company and your take on that is that 88e cant afford to pay him? Quite a stretch.

Hi, no CoS figure for the drill yet. Seems that this is a function of source, maturity, migration, trap and seal. Also it seems that the outcome of similar drills impacts heavily (which is good so far but not a huge number). As this is a discovery these aspects have largely been proven so the CoS for the initial drill which just seems to be confirmation of what was seen on previous drills should be very very high. Moving ahead we will be most concerned with the chance of commercial success on the flow test will be key and we should have a good figure after Charlie 1 is drilled and we have samples/data etc.

Lovely write up. It seems that while PMO has the previous discovery in mind as the primary target they are happy for us to use the all the cash in testing the other targets as we wish. Lots of options on the drilling plan. Might be an issue if we hit pay on every target lol

I'v never seen an RNS like this that essentially says - 'the share price should be higher'

Having averaged down I'm feeling much more comfortable at sub 1p average.

Having a look at the changing Conoco Phillips Investor presentations over time since 2017 its interesting to see the case made to transition CAPX towards Alaska with advances in technology, this all applies to Charlie 1.
The CP 2019 appraisal drilling campaign at Willow and Narwhal looks very similar to what we will be looking at next year.

Willow Project Description
ConocoPhillips announced a significant new oil discovery named Willow in January 2017. Willow is in the Bear
Tooth Unit in the northeast portion of the National Petroleum Reserve -Alaska (NPR-A). The original Willow
discovery wells, Tinmiaq 2 and 6, were drilled on federal leases in early 2016.
After a successful 2018 exploration and appraisal season in the Greater Willow Area, ConocoPhillips Alaska
released the resource estimate to a range of between 400-750 million barrels of oil equivalent (MMBOE).
The company has proposed a new stand-alone production facility to develop the resource in the Greater Willow
Area. It is estimated that Willow could produce in excess of 100,000 BOPD. Assuming timely permit approvals,
first oil is planned for 2024 – 2025. ConocoPhillips plans further appraisal drilling in the Greater Willow Area in
2019.

I think there is a chance that a few of the large buys were the same person accumulating at these levels

This will include strengthening the Company's balance sheet and to provide the Company with sufficient capital to:
· fund potential costs of the Charlie-1 above the Premier Oil carry;
· fund lease rental payments due on Alaskan acreage;
· fund interest payments due on the Company's debt facility;
· FUND NEW VENTURE OPPORTUNITIES
· finance the Company's ongoing working capital requirements and general and administrative overheads.

Looks like Alkaid is vertically right in the middle of block B around 15 miles north of our acreage.

Thanks Brom that all sounds good. The 25% comes from the later investor presentation. The division of block C leases looks slightly different from previous maps. Giving it another look not sure if Alkaid boarders block B or C.

he mean time does anyone know whats going on with BEX? Is the company still active following Paul's passing? Are they still funded and carrying their share of the cost? I note that BEX are operator of the Eastern block of which we only have a 25% WI? Are we expecting BEX to take the lead and make any moves with the development on the boarder with Pantheon? All a bit of a worry and not really discussed on here that i have seen.

BOB I assume thats where the road doglegs slightly just north of our acreage and makes the ice road as short as possible. Still 34 miles of ice road though.

Plenty happening on the north Slope
https://www.petroleumnews.com/pntruncate/469161068.shtml
https://www.petroleumnews.com/pntruncate/9383100.shtml

The slides from the Alaska investor tour also laid out Oil Search’s view of the remaining hydrocarbon potential of the North Slope, describing the Slope as a “world class, under-explored, oil-rich basin.”
The company’s “context” is the 1.5 trillion barrels of oil generated in the Colville trough, more commonly known as the Colville basin, which spans the entire width of the North Slope.
With only 20 billion barrels of oil discovered to date, Oil Search says in its “North Slope full potential” slide, that 10 billion barrels of “undiscovered potential” has been identified across “combined play fairways.”

So happy to be accumulating at these levels when the momentum has gone off the boil and active traders are looking elsewhere. They will be back, talking this up come December/January but we may have already bagged from these levels by then.