Member Info for BroadfordBay

IMO what he really meant to say was:
"We are fully funded under all scenarios that we currently envisage, to 110kbpd."

Without clarity as to the scenarios envisaged the words are almost worthless.

surreyscot,

to the best of my recollection any abuse (your word, not mine) I ever handed out was in response to that dished out to me.

Yes, I support Oilman and Bigdog on the other board. Why? Because they too have taken an awful lot of sh** over the years from folks like you who seem to post on both boards under alter egos and (this is the most importnat reason for my support) because they try to deflate the most incredible trashy hype dished out.
Both of these gentlemen respond withn great vigor to the rubbish that gets presented there and that vigor (bit like Donald Trump) over time has attained a sharp , cutting edge - so it hurts.

I do think the company has arrived at an interesting place at the moment - the new well(s) coupled with the first of the ESPs have the potential to prove the team has a good handle on things and should enable the market to make a positive judgement as to the 55Mbopd short-term target.
On the downside, I think Sami's departure is connected to the unwise splashing out of cash on Divi and Buy-back and only time will tell if that worry can be put to bed. Another downside, which is linked I think to Sami's departure, is the appetite for solid cash that any Gas Project, being pushed hard by MNR, will have. The lack of clarity and linkage between dealing with the gas issue, the possible 2nd ammendment and historical monies due when allied to these issues, is a black cloud that needs to be dispelled. The company's lamentable PR effort in the last couple of years is a matter of great concern.
Finally, the obvious pressure and flow issues that have become apparent have not been openly adressed to the wider stakeholders. It may well be that none of these issues are cause for concern, but the failure to settle stakeholder's nerves and provide some focus and explanation is worrying. Companies that are not In Sync with their stakeholders tend to pay the price.

It's now exactly 3 years since the CPR from ERCE and in that time a lot of oil has been extracted and a lot of pressure/flow data accumulated - although not much at all in the way of new holes poked. The company really needs new wells and the data which will flow from them to refine their previous assumptions.

Until that happens there will continue to be agreat deal of speculation - unnecessary in my opinion, as it could all be put to rest at a single, well presented and substantiated technical forum.

surreyscot,
none of the persons to whom you refer claim to be "Experts" - as far as I can see; all I can read is "...proven expertise" and "...has performed roles".
True, they are qualified and their expertise appears to be deep, wide-ranging and gained over many years.

In my wide and varied (and equally well qualified) career, and in all the countries in which I have worked, I have very, very rarely come across anyone who considered themselves an "Expert" in any field; such as I did encounter proved to be con men.

I think you may have a fixation, perhaps based upon your own limitations, with others who may perhaps be better educated and have more specialist (or "expert") knowledge of these areas. Manners, and a good understanding of grammar and language, you certainly do not have. I doubt very much your own attainments have been very much to write home about.

Just you "go with the experts", you'll be in good company and I'm sure it'll all work out for the best.

He, who shall not be named, is NOT a minister, nor is he an official. He was "appointed", never elected to anything.

He is now a sub-contracted adviser; perhaps that is now enough to get him off this particular hook - for a while at least?

****eye,

or to put it another way, who wants their $25M (approx) back or who wants to offload 9M shares (approx) without creating too many waves?
It certainly appears to be well managed.

****eyed,

that caused a wry laugh I must say:
"...will see anyone with corporate knowledge as a threat here..."

You do yourself, and leathercoat man, too much honour.

The paranoia resides elsewhere...

Postman Pat was better at it.

Es ever, you and your master are misinformed...

FlyingHorse,

you are yet another one who sails under false colours on this bb.

A stranger to the truth...

Genuine Investors (and there are not to many around now) need to be aware of what’s going on.

The interesting thing about yesterday was the determined duplicity of the rampers who, having witnessed the damp squib of the share buyback, yet again attempted to “heat things up” by re-heating some old stew - the old, and completely unsubstantiated story, of an Exon bid having “been tabled”, as they claim, coupled with a “valuation” of $10 billion. They attempted to authenticate this by saying that the author “swore it was correct” and went on to claim that he, the author, had been “threatened and warned off against ever posting similar again”.
(You are permitted to Laugh Out Loud at this point)

Such claims are not the actions of normal investors…as are the claims of “near panic”.

They honour themselves too much, far too much.

As George Eliot wrote (Adam Bede, Ch.33): He is like a ****, who thought the sun had risen to hear him crow.

You say that "The problem with GKP has always been troll posting..." - yet the very opposite is the case.

The problem with GKP is the unashamed RAMPING by posters such as you (and your ghosts) over the years. Whether it's the size of the field, the P2 reserves, the targeted output, the eventual output plateau, the secret accumulation, the "tabled Exxon bid" and of course the Chinese Takeover Tomorrow; ALL of this was pushed down the throats of bb readers as fact when in fact it was nothing but ramping your trading positions.

The other board has been infested by a clique and now this bb has too. A clique that posts under different avatars but who all share the same aim.

Show us your evidence of any Exxon bid that was "tabled".

The real fraud is you my dear chap.

What utter *******s!

"...until the ruling familly can inherit this ostensibly monster asset for buttons...".

They have no (free) money - how on earth would they develop such a large field?

Surely you don't imagine they might even partially empty those offshore bank accounts or sell some of those expensive overseas properties?

My spreadsheets have now moved on from the slider-driven variables / dashboard type that you mention.

I tend now to specialize on PPT-type presentations driven by Excel spreadsheets and utilizing dynamic data animations using content-specific VBA routines to provide a more interactive environment. The standard PPT animation- & transition elements are too simplistic (aka useless) for the needs of the people we speak to.

ProRealTime is essentially stock trading software (looks really nice!) whereas my technical interest is slightly different and more specifically targeted.

Best regards.

By "amazing bits of news" do you mean the reaching of production levels we had back in Dec-2016?

Come on, the only positive to be taken from all of this is the current Cash Balance.

Your penny dividend doesn't matter in the greater scheme of things and once the Divi has been paid and some of the buy-backs are done and the various works in progress have been paid for that cash pile will shrink quite a bit.

The negatives, as interpreted by serious holders, include the lack of movement towards the next target - the 55Mbopd one, which we will only see by Q2/Q3 2010 - and the failure to explain properly why the FDP is stuck in the mud. Until it's clear what's causing the log-jam, and full clarity on the funding implications behind that, the SP isn't going anywhere fast.

5.7p per share now, remaining 11.5p later in the year - probably Mid/Late Sept.

The section 96B (1) : "...has power to make managerial decisions..." is generally interpreted by the FCA in the UK as also meaning: "...has power to make OR INFLUENCE managerial decisions...".

The Close Period Dealing Regulations include the following:

"Its purpose is to ensure that persons discharging managerial responsibilities do not abuse, and do not place themselves under suspicion of abusing, inside information that they may be thought to have, especially in periods leading up to an announcement of the company's results."

The regulations also include the concept of "connected persons", and say:
"connected person has the meaning given in section 96B (2) of the Act (Persons discharging managerial responsibilities and connected persons)"

Section 96B (1) sets out quite clearly the "connected person" aspects, and says:
For the purposes of this Part, a “person discharging managerial responsibilities within an issuer” means—
(a) a director of an issuer falling within section 96A(1)(c)(i) or (ii); or
(b) a senior executive of such an issuer who—
(i) has regular access to inside information relating, directly or indirectly, to the issuer, and
(ii) has power to make managerial decisions affecting the future development and business prospects of the issuer.

You are the barefaced liar my dear chap...you and all of your ghosts.

Isn't anyone playing with you this morning?

Strictly speaking the (very large) number of shares were CONSOLIDATED by making 100 old equal 1 new. Billions down to millions.

Your holding, as in the number of shares held, was therefore DILUTED (as in watered down) meaning that you now only hold 1 share whereas you had previously held 100.

Whichever way you look at it (and leaving aside the mini-bagger since consolidation) you were fooked.

I believe the company may have decided, like DNO, not to publish every payment received. Whether or not this was at the behest of the MNR (and what the CFO thought of it) remains open to conjecture.

This is how DNO finished-off their last payment update RNS of 20th Aug 2018:

"Following regularization of export payments for Tawke license production since February 2016, the Company will no longer make monthly receipts announcements. The Company will instead update the market on export volumes and values as part of its quarterly financial reporting."

in the MNR's hands?

Is the main requirement for success (company officers & employees - not shareholders) in the Oil Extraction Business in the Semi-Autonomous Kurdistan Region of Iraq to be "malleable"?