Member Info for Bridgedogg1

Just thinking that if we are always waiting for the next bit of data we will never get a CPR- why not wait for GD OR Arreton etc goes on. Will the CPR be based on Portland development or all assets? Wouldn’t you just get one out and then it can be updated as you move along. No doubt more complicated than that..

I had a feeling the CPR was overdue so went back to look at the last mention of it:

RNS: Portland Declared Commercially Viable, Thu, 18th Oct 2018 07:00

The Portland field's first new horizontal production well, HH-2, which has SCC planning and Environment Agency consents, is planned to spud in early 2019 following completion of the Kimmeridge Limestone 4 EWT.

As reported on 10 September, the HH-2 horizontal well has a targeted* sustainable daily Portland production rate of 720 to 1,080 bopd, 2 to 3 times the calculated* sustainable vertical well rate of 362 bopd derived from the EWT programme.

Following submission of the planning application, Xodus' 2018 Portland Competent Persons Report will be updated to include recoverable reserves and net present values of cash flows associated with the envisaged Portland oil field development.

So the CPR seems well overdue???

and wanted to include this because I love reading it

The first new horizontal well, HH-2, will target the Portland oil field, while the second, HH-1z, a horizontal sidetrack of HH-1, will target the combined 358 ft thick Kimmeridge Limestone 3 ("KL3") and KL4 oil pool, currently on sustained test production from the HH-1 wellbore.

Utilising the reported flow rates from the current HH-1 vertical wellbore's EWT campaign, both HH-1z and HH-2 each have targets of initial sustained daily horizontal well rates of 720-1,080 bopd. These targets are deemed by the Company's 3rd party reserve auditor and principal reservoir engineering advisor, Xodus, to be viable and realistic, conforming with the established petroleum engineering benchmark that an optimally placed horizontal well within a reservoir with reasonable vertical permeability can be expected to deliver 2 to 3 times the flow rate of a vertical wellbore from the same reservoir.

Scratch that, got it

The RNS was just to underline that all is progressing as planned.

Must admit I am a little confused about the planned horizontals. Are they all going in to Portland or will KL3 and KL4 also be tapped?

It was my understanding that you didn't have to be a shareholder to attend the AGM?

How do I register for the AGM?

Should gather a bit more momentum coming up to the close with AGM tomorrow....

1.3

Regarding the £3.5m I don't think the market has attached much value to the future use of the cash. If SS states its mostley going to be used to keep the lights on I don't think there will be a a huge impact apart from a load of pissed off PIs. From that point of view anything that adds value will be viewed positively. I'm hoping for something that adds value in the near term, rather than a new exploration asset (money pit).

Have you heard of the FTSE100 or NS&I? Probably more suitable for a 'cautious' investor.

Significant RISK for Significant REWARD POTENTIAL

And yes, some you will not see the reward.

'top-slicing' at 1.2 on here? I read that as a subtle de-ramp

Had to scroll out the zoom on my chart

Peeps sat on the sideline getting hit with severe FMO

Here it goes, just ticked up again. Good luck all!

There’s been a few 11am updates ;-)

Rereading the last corporate presentation you can see how much work has been put in and progress made. It’s just, well could we have done less, spent less or just spent it all on getting production assets up and running. That’s what I’m asking anyways.

Nice buys still coming -_-

Trades are looking nice going into the close. An RNS the day before AGM? Surely not.

.....Continuing to invest in our potential near-term production assets is a key priority. Once in production the revenues from these assets will provide free cash flow to re-invest and deliver shareholder returns. This strategy is embodied by the current focus on Horse Hill, where our goal is to make the field the Weald Basin's number one oil producer by end 2019

Soon KD

I was hoping for news this morning but hasn't materialised. Does give me another change to get in at what I hope is the bottom so if I can get some for 1.11 which seems to be the lower end of the range since placing might add a little

Sorry that was meant to read: With the same MCAP today, with the current number of shares in issue the share price would be 0.048p.