Member Info for Bridgedogg1

Nice to see the uptick. Any other small cap of this size with this level of buying would be rocketing up...

How will the admission of 333,333,330 new shares @ 1.05p tomorrow impact the price? The share dilution has been priced in but will WH Ireland start offloading shares straight away?

Can't understand how that went through at only 1.15p

Well that sell put a dampener on the early rise!

Looks like a large order being filled

I would be surprised if we didn’t get news re plan for cash raised. Got to be finalising the small print now.

DOR signed an agreement yesterday committing to drilling Australian wells, they need the money to do so. I wonder what made them sign yesterday???

It’s a genuine worry but with up to 11 wells flowtesting or in production by the end of 2020 one hopes this will fund itself from that / this (?) point

If 2019 is funded then the cash will be used for the 2020 program. They will already know what this is, how much income is expected and what the cost is likely to be, hence the share placing to raise the shortfall. I would expect an end soon on details of 2020 drills/testing. This will soon be a self funded profit making enterprise IMO.

In order to move our business forwards, we maintain a high level of operational activity, conducting near continuous drilling and flow testing operations since May 2017. Our forward programme announced in January 2019 will continue this philosophy with nine further wells and flow tests planned over the next two years.

This operational programme is designed to bring our first operated field, Horse Hill, into long term production by the end of 2019 and our Arreton oil discovery and Godley Bridge gas discovery, potentially significantly larger than Horse Hill, into long term production testing during 2020.

I must say the lack of news to date bodes well. Clearly there is something in the mix or we would have heard something to the contrary. New blackout is to be expected at advance stages of negotiation. I think we should be prepared for another (shorter) delay though..

"you cant go wrong."

CANT is not factually correct..

My guide for investing in oil exploration companies:
Only 1/100 of the things you hope will happen will happen
99/100 things that you hope wont happen will happen
9/10 things that you could reasonable expect to happen based on new flow won't happen in the way you want
1/3 things that you have been told explicitly WILL happen wont ever happen

Consider this when investing and waiting on 'transformational' news and you will begin to understand the ups and downs small oil stocks

Maybe, but I called the Winx-1 rns pretty well and also predicted Conv FO will be pushed back again. We will see I guess.

I expect DW is planning to sell off the majority of the assets for very little in return which he will use any cash return to endlessly explore Yukon, which was obviously brought in just to justify the continued payment of salaries once all operations on HRZ and Conv are taken over by someone else.

Hi I'm new! Just brought myself up to speed.

Not exactly a wildcat drill. 70% COS seems reasonable looking at the output of the analysis.

SP is clearly on a downward trajectory at the moment, certainly uncertainty over funding wont help. Anyone able to give me an idea on the cost of drilling in this area/type of drill. Wouldn't expect dilution an this MCAP, FO maybe?

Thinking of my experience on here and other oilers the most likely outcome will be - Not testing any zones, FOs cancelled due to lack of interest, BTW need some more cash..
Much more likely that takeover/flow testing/FO news.

Maybe this time I will get it right!

If you look at takeovers sometimes you see 20-30% premium being paid. Even with the current anticipation of a high impact drill we are at 1p... The market is quite good at valuing a company, it currently has us valued at £65m. Now obviously valuation in a funny thing on AIM but if DW was talking to someone now about a takeover and you think he would argue that we are worth £2 billion you are mad. Now if we proved up the reserves, somehow got financing for development and started pumping 100,000 barrels a day with £500m free cash flow we would then be worth around 30p per share, until then...

I always see people doing valuations for oil exploration companies based on oil in acreage, and the pie in the sky chance of everything coming good for on the P50 for all areas of interest. I have never ever seen it be correct, even on takeovers.

Shares that multi bag in the double digits are usually worth less than £10m to start with.

30p *snorts* Don't think we are or ever will be worth £2b

8p would be a best case scenario after success on winx1 and a bit more proving up of HRZ

Nice article.

So Caelus found 6 billion + in Torok
Armstrong went looking in Torok but found a few billion in Nanushuk

We are drilling Torok and Nanushuk...

Thanks for confirming Brom