Member Info for Bridgedogg1

Very interesting. Driven down from £17 to £6. Must have made a ton of cash on the short.

I believe the winter drilling window is October to March?? but with cash provided for permitting it could be sooner that some think. Brom might be able to confirm but I dont see any reason why the permitting couldn't wait until after August 2019 (upon signature of farm out) if we are not planning on drilling until 2020. Suggests to me that the first drill will be this half winter drilling season, and we could be drilling as early as October 2019 (wishful thinking but still possible). A certain large oil company is moving a huge new rig into the area in 2020 to delineate prospects, we might be providing further drill options for them if initial drills are successful.

IW1 - Permitting in Sept 2015 for anticipated drill in Oct 2015
IW2 - permitting in Dec 17 for anticipated drill Q1 2018
Winx - Permitting in Jan 2019 for anticipated Drill Feb 2019

The only caveat to that to that is if obtaining permits are part of the 'conditions precedent' mentioned in previous updates. Dont see why they would be the case though as the permitting seems quite straight forward.

“The encouraging thing about this play is that all of the 3D seismic data that I have available to me shows there are many, many, many more seismic anomalies that have not been tested in the Nanushuk Formation,” Houseknecht says. “So, it is a highly prospective, very encouraging trend, and the only downside of it right now is that virtually all of the acreage that is available is already leased.”
Dave Houseknecht
Senior Research Geologist, USGS
https://digital.akbizmag.com/issue/august-2019/booming-interest-in-nanushuk/

Looking at the accounts and as by no means an expert it seems the company has invested $1.2b to generate assets of around $700m and remaining debt of $700m to incur an annual loss of $100m? Even with business cahnges there is no anticipated new cash flow for at least 2 years?

did someone say 6p?

The longer this goes on the more chance something leaks. With the permitting going to an external body and all 3rd parties involved must make sense to release the full details soon ‘pending transfer of WI’.
It’s been over a month since we should have submitted the WI transfer. I understand the agreement takes time but now it has all been signed off the final admin seems to be taking longer than I would expect. Got to be very soon.

I hope so because if this drops below 0.8p it doesn’t look good.

Really hoping we get some news this week.

I make it a maximum of £7m in shares which is around 800m shares at current price but likely £4m of this will be through a combination of cash and shares issued at a higher price, so expecting say 500m additional shares.

Bit surprised that the loan money will be required to for site works like building storage tanks. I’m sure it was previously stated as covered by ring fenced cash.
Not a huge dilution with the loan. Future dilution should be less if the SP rises on horizontal flow.
Glad the previous cash raising has gone into HH.
It’s a huge chunk of the cash flow coming our way.
IMO there will not be another cash raising now.
GLA

Sheps, its called greed and fear and it rules the market.

Lets not forget the board of the farm out partner have signed off on the deal. The legals and WI transfer are taking longer than expected so we got a bit of cash,.

BPC is completely different. Unlikely to get any agreement IMO but the exclusivity made it slightly more likely. Here we 99.9988% have an agreement and the exclusivity clause just allowed for the payment of cost so they don’t have to be reclaimed later.
I wonder if we have seen the detailed update of early August??

Where is the best place to view individual ASX trades?

Seems like another delay but thinking about it logically, with the $500k we are now proceeding as if the farm out was in force. We just dont know who it is with. CP? OS?

Brom, if you look at the indicated link the leases where surrendered on 27/6/19 so just widen the date search parameters a bit.

Brom, this can be found under Information>Data>Leasing Data.
Shows Accumulate Energy surrendered leases for July

Looking at the Acreage by Lessee - Summary as at 4 August 2019 Accumulate Energy now only have 308,128 acres?
Has this changed? QR shows 482,000 at end of quarter.....
CONOCOPHILLIPS ALASKA, INC., 493,673.82
OIL SEARCH (ALASKA), LLC, 216,367.35
REPSOL E&P USA INC., 258,196.86

I dont have June data for comparison

......

Back on topic...

Stevo
ANIC did +200% in 2 months already so already been noticed i think. The MS and GS investments are nominee accounts.

Well it's not 'blowing' if we start seeing some material results..... EARLY AUGUST

Interesting corporate update from PVR - due to farm out of operatorship of all assets they are cutting most staff and running a slimline 'outsourcing' type model to reduce costs. Just something to consider - we are looking to farm out most of our assets - do we want to continue incurring costs at the same rate if we have partners running the show? Will need more of a legal expertise and less of a technical expertise ?
Or once the farm outs are completed would we be happy to start looking at other opportunities..... I wonder what Davy boy is planning.