Member Info for Bridgedogg1

Over £7m in the bank, no cash raising

Over £7m in the bank, no cash raising

It’s the sort of RNS that big investors like and PIs don’t.

And did I see the word shale...???

The placing has already been discounted by the market. Shame it’s not going to add immediate value.

News on Kimmeridge is amazing, extends from KL2 to KL4 and possible beyond.

Bit unclear as to Portland timescale? Could be Monday or in a few weeks. Could have been better worded. Guess that’s because it was a financial update rather than an operations update??

Holy cow, so they sent an update to local residents then ujo had to do a market update 6 mins before close. Amazing.

Might be a health and safety issue moving such a large load through a narrow opening at night, but enough of my love life.

RNS tomorrow would be well within the end June, end H2 targets set, with whole hours to spare. Don’t know what you were all worried about.

Will SS pull out a cheeky update before the end of the month? I think so.

Possibility they might move the rig in overnight?

We haven't actually had confirmation that it's going to HH.. its all been speculation that it is even that rig being used. I think we can safely assume that the protesters are driving the news blackout until all equipment arrives on site.

Got paid today - thinky face emoji

In the past the RNS only comes once all equipment on site. Should get an update tomorrow with the interims though.

....?

Peguins

Not sure where I read $18, could be an old figure or just mistaken.

My assumption if the cost per barrel is the average marginal cost so this shouldn't change once flow rates are known.

I read costs are $18

Bladehater - the annoying thing is ALBA will still get their share of the extra oil which they will spend elsewhere, directors salary most likely

Just a thought but on switch to Kim the pressure build up will lead to a higher than average initial flow rate. If I remember rightly it was at around 700bopd on initial testing before averaging out at around 350bopd. Might be an indication that switch has been completed or certainly that Portland is being given a good workout prior to the switch.

Another point if I may - the economics on Portland are sound and we just need to know exactly how much we will make with the horizontals. The current valuation is fully supported by just the Portland drills at HH. The KL play is much more interesting now. We don't actually fully understand its potential, the sidetrack will test a number of points including exactly how big the KL pool is at this location. initially we thought we had two small zones KL3 & KL4, now looks to be be one massive zone. Reading the updates relating just to this, shutting out all the other noise, has been really eye opening. HHDL were the first to test the play, at the ridicule of the industry, and were proved right. We now have huge acreage over the most prospective areas.

Sounds a little like 'we will do a fund raising in the future when the SP picks up a bit'. Great move in the short term though.

Nice spot, I didn't even pick up on what might have been the most important part of the announcement.

Could mean any number of things.
We could be completely out with a royalty arrangement.....
Could be a transfer of part WI with a further earn in for additional work/spend on exploration. Most likely also transferring operator-ship once earned. Just going by a few I have seen in the past. I have a feeling though that this wont look like the regular FO deal.

I can understand that for investors in at 2-10p it is hard to generate any excitement over a 10% rise from 1p to 1.1p, but for people invested at lower levels its more exciting. Doesn't mean that every positive post needs a negative response and visa versa, just different perspectives.I'm getting close to my average having added a few recently, still down but positive. The LTH are best placed to educate the newbies on the potential but unfortunately there are some with big paper losses being held which leads to our current BB where the informed are generally pissed off having been diluted out of pocket in the past. LTH might be more realistic than newer investors but also down playing short term positives. Leads to accusations of trading, deramping etc.

The road to an un-spiked 10p will have a few stops on the way but they are necessary if we are ever to get there.I hope when we start to add real value the LTH who have been a bit negative will perk up a bit and we will have a happy BB all round.

Free-Money
Good strategy. Not quite the beginning, plenty of blood, sweat and tears, and money has gone into getting the assets where they are. Ready for lucky investors to come along and pick up some cheap shares just when the true payback is beginning.

GLA 1.1p being paid again. Time for tick up and charge through to the next resistance.

Massive jump to where we were 3 days ago. Let’s get this train moving. Assets are huge. Don’t think we will ever see a placing again if we can get HRZ FO right.