Member Info for Bridgedogg1

The fact is we we're unlucky on the location on winx AND IW1/2.

People always looking for someone to blame but ultimately you have to ask yourself if thats reasonable - 88e took a risk based on the best information at the time and it didn't work out. Personally I dont blame anyone for my loss here other than myself, and I knew the risks when I invested.

The biggest issue we have we a share price recovery is that s lot of holders seem to be looking for an out - many despondent long term holders have had enough. Would love to be coming to this share now for the first time, a great buy and hold for 6 months. I know that I am more comfortable being in than being out but I just hope the wait has been worth it.

08:57
This would be a great deal imo. Doesn’t matter how long the negotiations have lasted matters what we have to offer a partner. During that year we have also drilled winx developed HRZ understanding and farm out and Yukon potential. It’s all part of the bigger picture and if the deal gets us carry drilling this season then I will be happy.

BP was never a likely partner. The same to CP is disappointing, I don’t see them doing both deals.

Worth looking at the ECO - Tullow/Total farm ins. They recently made the first discovery on the licence and have gone from a similar market cap to 88e pre farm out to around £210m. I think they only retain around 15% though the size of the prospect is similar. I've only had a cursory look as I'm not looking to buy there.

It is very interesting. With significant new plays emerging it would make sense for a collaboration on infrastructure. CP are looking at a standalone development for Nanushuk. The LNG project may have opened some eyes to idea. Might be that Oil Search/Shell get on our licences and then share capital costs with CP/Repsol on development.

OMG could be anything!! ahhhhgghghghhhh

The fact is that is the board have agreed and paperwork has been signed and we are just waiting on the lease transfer then there is no reason not to announce the details. My only other thought would be that they are taking a closer look at the revised HRZ data.....................................................

Do we think the 'Exclusivity Agreement' was just a wrapper to enable the payment of the $500k for permitting or was DW seriously considering talking to other companies??? Might be that he notified them of his intent to do so after getting annoyed at the delays.

The one good thing about the price ticking down is that the board is all blue!! hahaha

On DW's bonus, I reckon he thought the FO would of progressed more quickly as well as adding a couple of pence on the share price pre announcement.
As it is we have news coming on a number of fronts but may have left it a little late for his Christmas bonus.

I wonder how the 'fairway revision' on HRZ is going... could happen before Conventional FO at this rate!

The note on the H1 update stated FB is considered marginally outside the revised fairway. Does this mean we cant drill from there or that IW1/2 on FB was outside the revised fairway? May as well stick a new hole in the sweet spot IMO

Positions taken. This will rerate quickly IMO. Just the wait now zzz

Going by the terms of the exclusivity agreement I dont think we can expect anything until next week at the earliest.

I wonder how many hundreds of millions of barrels we will be targeting in the next drilling campaign. Will certainly be one of the largest onshore exploration programs in terms of barrels of oil in the world in 2020, outside of the middle east and Russia. Local discoveries. Local infrastructure. Positive geopolitics. Just need the POO to tick up a bit and will all come together nicely.

The Mcap reflects that there are many significant conventional targets on plays that have been proven locally and the HRZ is partially proven and just needs to flow. These are massive prizes even at 20/30/40%.

RNS - 'Drilling program' still get a tingle when reading that

I read the other day that WINX was the first Nanushuk drill to not encounter commercial hydrocarbons.... bad luck indeed.

Dropped for no reason now a rise but not yet above current trading range. Just games until rig is announced.

Or maybe someone got their wires crossed and its a different 'huge' CP deal to be announced in two weeks!!!

I dont think whether a tier 1 or not will matter for us as long as the wells are funded, unfortunately it will matter for the share price because people will think its better to have a huge partner, not always the case though unless you are on the verge of development. Hopefully CP or OS what to expand their acreage on the north slope.

Its difficult to compare. A development of some of our bigger targets could be expected to deliver over 100k bopd but of course the costs would be much higher. The question is are we dealing with a tier 1 who might be looking to develop in the future of a mid size oiler who wants to maybe price up, appraise and sell/farm out from there. This is still a possibility IMO

Wishful thinking then. Makes it even more confusing why the need to forward cash for permitting that could in theory wait a few months?