Member Info for cperkin

Thank goodness it was not a total Rig failure and needing a new rig and only a rig move. They will need to make sure the pad spreads that weight nicely before spudding again.

Cheap entry for the spud then, hit almost 13p last time round.

On 15 August 2018, the TLP 103 appraisal well was spudded using the SMP 102 drilling rig. Whilst drilling through the shallow section a number of drilling challenges were encountered, caused by localised geological conditions, which resulted in ground movement that impacted the safe operation of the rig. Initial inspections show no damage to the rig. The events occurred before the well had reached any of the target horizons. After a number of attempts to overcome this problem it was jointly decided by SMP (the drilling contractor) and AAOG to cease drilling, abandon the current location and move the rig 100 metres to the north west and re-spud the well. The process to prepare the new location, move the rig and re-spud the TLP 103 well is expected to take approximately 25 days. Following the re-spud it is expected that drilling will take 64 days to complete.
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In addition to contingencies in the drilling budget and potential offsets and claims under insurance policies, the Company has available to it offers of debt finance sufficient to meet any cost overruns due to the delay and need to re-spud.Â

Got to give it to barking ;)

So back to my question

"the Company will then proceed to perforate a lower untested and potentially gas bearing section of the reservoir system"

So this deeper section, is not included in the revised CPR figures 1.9 BCF 2P and 31 BCF GIIP since it is untested?

So the trade did not take part on the exchange and was an OTC (over the counter)

OTC trading has no physical location — trading is done electronically.
It does not take place however on the stock exchanges, e.g. at the LSE, Euronext, NYSE. Instead, trading is usually carried out through a dealer network.

Certainly they are off book again and none of these massive trades impact the current SP either way.

This trade is reported with a MIC code of XOFF and LRGS

Indeed obone, the murky world indeed. All I do know is the trade volume of 4,444,444 @ 2.3p matches the earlier trade volume of 4,444,444 @ 2.21p?

Jack it up and pad it, job done, 12 days £0.5 mill.

Blimey! Looks like a flip of 4,444,444 placing shares - 2.21p earlier and sold on for 2.3p

Looks like the discount window to open offer has now closed :)

If there is gas there, I expect it is full of condensate, the well was producing 8 to 10 times the level of condensate that it did when first tested.

"the Company will then proceed to perforate a lower untested and potentially gas bearing section of the reservoir system"

So this deeper section, is this not included in the revised CPR figures 1.9 BCF 2P and 31 BCF GIIP?

Yep, I manged two buys yesterday, both just below the placing price for 2.244p and both showed as red. The reported spread at the time was 9% when in fact it was only 1% - just like today.

Seems to be a splodge of Tomato sauce from that Pizza on my screen?

Both off book trades BD - Large in Scale Deferral.

https://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/GB00BF1BK408GBGBXASQ1.html?lang=en

https://www.londonstockexchange.com/prices-and-markets/prices-help/trade-type.htm

Yes I had the same obone, unless and until they have completed an IPO and have retail shareholders I think you can expect nothing less.

Still the higher the price the better for the IPO and of course the drilling which now looks like 2019.

https://www.gasworld.com/blm-reaps-windfall-from-fy-2019-helium-auction/2015344.article

Recommended latest time and date for requesting withdrawal of Basic Entitlements and Excess CREST Open Offer Entitlements from CREST 4.30 p.m. on 6 September 2018

Latest time for depositing Basic Entitlements and Excess CREST Open Offer Entitlements into CREST 3.00 p.m. on 7 September 2018

Latest time and date for splitting Application Forms (to satisfy bona fide market claims only) 3.00 p.m. on 10 September 2018

My broker gives me till Sunday the 9th to confirm alocation required and have the money available in my account.

GLA

Spot on oily and lets not forget that those calculations will be extrapolated not just over the HH licence area but also have implications across the whole basin.

I assume the main man is in the Congo reviewing the situation today and a timely update would be most welcome before the weekend but more likely Monday?

GLA