Member Info for Bridgedogg1

Next stage in the 88e starting right now. Exciting times.

I reckon in 2020 we will be working with Oil Search on Yukon, CP on conventional, Shell/Conoco on the HRZ & Prob RMP on WINX just to keep our feet on the ground

All begins next week!

Agree that at the moment DW's word on timings carries little weight, but on this occasion I reckon we will see an update early next week.

Interestingly CP have been playing their cards very close to their chest with their Alaska assets. They haven't released any detailed results from the 'encouraging' wells drilled at its North Slope Willow and Narwhal prospects and havent disclosed the purchase price paid for the for the Nuna prospect from Caelus Energy. Obviously they see a lot of value in the North Slope.... maybe they doing their best to keep it under the radar while they clean up with what acreage they can as cheap as they can get it.

Good job Zoro. Glad someone is making money out of the falls in SP. Its not your fault after all. Probably not the best forum for you here, but I'm sure there is some trader board you can chat with like minded people?

Only Caveat to that is if we or a subsidiary gets bought outright. Then we can talk hundreds of millions.

I believe the 'Transformational' comment referred to farm out of conventional and unconventional assets, possibly with a funded Yukon drill thrown in. Each step will be value added and supportive of any previous SP rises.

1.5p on conventional adds £30m to our Market Cap. Sounds about right with no near term drilling prospects. once the drills come around it will be a different story. I think the HRZ farm out will add more because the industry will place more value on that, which should feed through to large buys IMO.

Without a doubt this farm out programme will be transformational. We will be funded for exploration and most likely have a new operator of with massive technical ability, experience and resources behind us.

some reading:

https://www.spglobal.com/platts/en/market-insights/latest-news/oil/073019-conocophillips-raises-2019-capex-3-to-63-bil-mostly-for-more-alaska-activity

My point below being that the 'Tline' is BS btw

Left, looking at your chart the last time the price closed above the T-Line, in May, there was a large drop in SP?

Can’t understand why we are stuck in the same old trading range despite the announcement of news in early August. Hopefully we can push out today and move up to the 1.2-1.4 range. No one seems to want to pay over 1.1p but that’s going to be cheap in a week. GLA

Good points in our favour. And yes.

All good points I out favour

Don’t mean to put a dampener on proceeding but what money have we spent on conventional? A bit of 3d processing? There hasn’t been any drills. Conventional isn’t Icewine HRZ or Winx. It was only a few years ago that we noticed there might be conventional potential on the acreage. What we have all been waiting for is the unconventional farm out, we should be able to give up less and get more. The conventional is just icing on the cake - we can’t afford to drill it ourselves. Also talk of us being an exploration company... we had our shot and we’ve blown it. We’ve been unlucky and now have to go cap in hand to a big player. We are realising the value at no where near what was originally hoped by PB and DW back in the IW1 days.
Don’t get me wrong, great value here, large oil company can carry us over the finish line and we will get some reflected glory. Very glad we didn’t do another cash raise for another drill. HRZ can still make us a some serious dosh. Conventional supportive of share price at around 1.5p imo. Once we get some cash we might even take on Yukon or have another stab st winx.

Nutsy You are nuts if you think we are getting $100m. Think about it rationally, it’s just a large bit of acreage with promising 3d. That can be had right now in over 1000 sites in the world. There’s some north slope acreage coming up for auction, probably get a big chunk for a few hundred thousand $. We have the 3d and a few other things going for us like the proximity to infrastructure and the historic well data. We haven’t really spent any money on it. We will be lucky to get $1m imo. It’s all about the free carry.

Re-reading the RNS... are we sure the early August update will provide all the details on the farm-out...

'A more detailed update on the conventional farm-out will be provided in early August.'

Doesnt say 'Terms of farm Out to be released early August'

The wording implies that DW is putting together a more detailed update but if we were going to receive the full details of the farm out it would still be waiting on transfer of Working Interest as before - I see no reason why that would have changed. Having said that the transfer of WI should be very nearly completed by now. I'm not sure but may need to be prepared that the full terms arent disclosed.

Expecting 1.1p to be paid before close

What a good week. Glad we got a bit of a rise in before the news dropped.

With tomorrow being Friday the decision whether to be in or out for the news might hinge on trades tomorrow. Good rise on Wednesday, support and add today sets up a nice base to push through this resistance in anticipation for 'early August' next week - 5th - 9th.

BUT news could drop tomorrow!!!! Its been a long time coming.

We could plug in vertical production from Kim and Portland now and walk away and it would be a strong commercial onshore UK site.

I've got 1.11p to buy....

My thoughts too Moneyhawk. The details could have been announced last month after board approval was given. But on further analysis, if you consider a large oil company operating on frontier licenses across the world it would be sensible for them to have internal protocols that require all such deals to receive firm and complete regulatory/government body approval before being announced. I have been invested in Asia and Africa where the gov has stepped in a made some ridiculous politically motivated decision to scupper a deal after it seemed the deal was done. Hence the secrecy, NDAs etc. serve to protect large company share holders until there is certainty.

The set time frame has forced sidelines into action