Member Info for Bridgedogg1

They just didn’t tell anyone

Absolutely, dont base you trades on the LSE board. I never post to influence and hope that it doesn't. There is no balanced view when personal money is involved, I certainly dont have one.

I consider future share price in terms of MCAP and value. Nothing to do with where we have been before. i look at where I think we might be and what the valuations are of companies in a similar situation. There is no perfect comparison because the factors will be different. Obviously there are plenty of exploration companies out there with good assets but no cash and a no farm in interest. The MCAP can be well below even the value of the acreage. That could also be us in 12 months, more shares in issue, £9m MCAP and SP a tenth of where it is now. Seen it happen.

But I'm invested, I believe that on balance that we are in a good position relative to the company valuation and expected news flow.

You are thinking too small! If a big boy thinks the 88e acreage is a good place to stamp their footprint on the north slope then the deal could set out looking ahead to well tests and development. Don’t forget we are dealing with a preferred bidder. Other offers were made and maybe revised and upgraded before selection. Any reason 88e wouldn’t be worth £300m following such a deal? With partial cost carry, money in the bank and a big partner we should see some institutional interest. The 2b barrels HRZ will still be on the table. Big players snapping up land around us. Oil price shooting up...

£300m will see the sp at around 4.5p (in my head sorry).

I’d bet my shares on it

Also, just a thought that has probably occurred to everyone but 'negotiation of terms and conditions' will be small print stuff, the larger strokes would have already been evaluated as part of the selection process. And I highly doubt a proposal to farm in would go ahead without at least a nod from those that would be asked to sign off on it further down the line. So yes, I dont think we are looking at the end of Q2 for this, much sooner IMO

After consideration, a preferred bidder was selected by the Company in March 2019
Subject to the negotiation of terms and conditions, the Conventional portfolio farm-out deal is targeted in Q2 2019

Any reason they would not name the preferred bidder? I do not see why it has to be confidential unless at the request of the Farmee

I don't doubt there will be a farm out. With the local infrastructure, macro and micro factors, the size and position of the acreage and the work done to date someone will be very interested.
IMO not having a flowing well is holding this up. Not because there are questions of whether there is oil - there obviously is - but the economics will not be clear cut. Who ever we are dealing with knows about farm out terms and legalities, this could have gone through a lot quicker but no doubt DW feels we should be getting more for what we've got and the FO partner wants to pay or commit to less due to this uncertainty. DW will want someone to come on board and commit to drilling and developing the project but the FO partner may just want to do a couple more drills in exchange for some cash with a buy in option.

That is my take pie in the sky take of the state of things

Anyone to buy at 0.80? Going, going, gone cheaper

Newanda, you are amazing, thank you

Thanks Newanda, great info.

Assume the drills were targeting different plays and the shows were not tested. Is there any more information on the original drills to be obtained anywhere? - would make interesting reading I'm sure. (I have looked myself but to no avail)

While we wait for this:
Icewine*: Large Conventional Prospect Portfolio – 2.2 Billion Barrels Oil Net to 88E#
• Multiple stacked prospects mapped on modern 3D seismic – farm-out discussions continue to
advance towards close, final due diligence and approvals underway

Can anyone tell me what inversion product means? As in..
Final processing of the Yukon 3D seismic is now complete, with interpretation and resource evaluation currently underway on the inversion product.

and why in the presentation the Indigo, Lima, Heavenly and Stellar conventional were listed as a 'Discovery' or 'Prospect/Discovery' as opposed to just 'Prospect'?

Cheers 88ers

At-least someone is still taking an interest

Getting a bit more interesting now, things seem to be moving at the site.

Trades picked up to the upper end of the range after short pull back. Poised for an nice break out, possibly even without news IMO

Anyway the only thing that matters is what the share price is at the moment and what it will be in the short/medium/long term. No one should stay invested in a company if they don’t believe the future looks good solely based on the share price being higher when you bought in.

Should always have you eyes open to other opportunities and if you think that’s better then switch. You should always be happy with the outlook of the shares you hold.

Yes, repeatedly. Don’t think SS will be getting on here soon to answer them.

Not true, FO project details, split% and price will factor in oil price outlook as a key component.

A high and rising iil price is very good for us

Looking forward to a few blue days this week and next

I haven't rechecked but I remember looking at the application and thinking it was a bit clever in that the 3500 figure and number of tankers only covered Portland production, and not KL3/4. Cant be certain though.

Then there is the real money assets to look at...

(I had a beer at lunch)