Member Info for Bridgedogg1

It’s blue! Almost time for my ‘last chance under 1p’ posts again
GLA

argus, looks like it was at almost exactly the same time at exactly the same price.

I'll add in Saudi Aramco at 100,000 to 1.
110 billion profit - that's mental.
It's been a week since Farm Out received board approval. Must be VERY near the end game now.

I call on the genuine holders to ignore the day traders and board disrupters

We have our acreage because we were an early mover into a fairly new play which had been proven very fertile. Unfortunately the proving had been done elsewhere so we are sub 1p. BUT it’s the same plays. 3D looks good. The size and quality of the conventional prospects wasn’t even a pipe dream here a few years ago. Now we have a great chance to move the company forward in the near term.

So yes all is conjecture but needs to have some kind of backing or you will get called out

A brief look into the releases relating to the FO make it highly unlikely that it will be a small company nobody has ever heard of. Majors would be interested in a share of 2b bbls close to infrastructure with low political risk on the table, and multiple interested parties. Majors grabbing up acreage in sight of our own.

Never seen such a narrow spread?? About to move?

Yes patience is required. My original question being why is it that the OGA approval is holding up the drill? Previous updates said all key approvals had been received. Site setup could have been completed in April/May. The rig seems to be free for use- why weren't we ready for it? What was the ACTUAL delaying factor and why? Seems to be the OGA approval that was implied we already had. Just a thought while we wait for the excitement.

It hasn’t been talked about much but why, when we have been told for a long time that the key approvals are in place are we waiting on final drilling approval from OGA to commence drilling? Was it overlooked? Is it something you have to leave to the drill date to apply for? Is there an issue with the approval?

It is a shame but expecting news flow to start soon. Should catch out a few of the day shorters out. In the end the price will reflect he news. Between news games are played but we’ve got a solid floor in the price and good news to come

Exciting times for all holder. 4 years work and now the potential on the cusp of being realised. Glad I’m in this one.

We know we have a deal
We know due diligence has been done
We can be reasonably sure it’s the deal DW wanted considering the initial level of interest
Does not matter who it is. Tier 1 / Tier 2.

We will all get excited if it’s Shell but ultimately it’s the terms that matter

There are too many unknowns to use NPV to value the company, other than to say the MCAP is generally well supported vs by the assets and anticipated future cash flow vs risks, without too much speculation built in . There is still plenty of room to move either way, if for example there was unexpected news, such as an issue with HH or a rerate of KL prospects. Interesting to use NPV on HH alone as we should know in a year or so what we can expect in terms of bpd with depletion data etc.
Happy with my investment in terms of risk reward, if I wasn't I wouldn't hold any longer regardless of entry price of length of time held.

I hope our lovely investment cash pile goes into HH ownership or progressing either of the near term projects as opposed to picking up other peoples failed drills on the 'cheap'. Would just mean more spend for us in future. Also going to be a bit annoying when we have to raise cash for drilling if we have spent this money on another cash burning projects. We've got some great assets, lets not bite off more than we can chew.

Kris 220 is restricted flow

Yes was wondering if the slight change in language language on the potential flow rate of the horizontal was intentional or not.
I believe it previously said 2-3 times. Now says 2 or more times. Could be read as 'now we think most likely 2' or 'now we think it could exceed 3 times on a good outcome'. Might have just been one of those things. Have to see.

Sounds to me like we arent exactly sure how to tackle the Kimmerdige for the optimal outcome. Drilling HH2 wells will provide more info but upside on Kimmeridge seems to have increased dramatically, and we have over 500 sq km over the sweet spot. No issues here with a focus on getting Portland into production.

Pensuins - only query on what you have said - dont we already have PP for 2 Portland drills and injection?

Pboo - 3x the rate of HH1 would be 5 tankers a day ((3x362)/220) as opesed to the current 1 tanker a day. 2 tankers in last few days will either be emptying out onsite storage for ground works or pressure testing.

Looking at charts resistance seems to be a t 3.4p ,5.2p , 6.75p

Needs a big buy or two to get past current road block

TR1 expected on remaining residual holding? 3% was the final threshold.

3p just got smashed

He only had £70k as of open so most likely gone now