Member Info for CRB14

There's time yet. I don't know anything about JOG - are they producing yet?

Two other big plays I can see as options are Shearwater (back up for sale) and (hugely dependent on drill results) i3e's Serenity field.

I honestly don't think AA will stop until he has built a behemoth.

True, everyone wants a piece of the RRE pie

Nice deramping - but you need to try harder than that. AA is on a relentless acquisitions path and there's >$3.6bn worth of oil in the ground. There's only one person talking nonsense here i'm afraid.

Majid did a presentation only a few weeks back where the rig was discussed. I don't think it's reasonable to keep expecting updates on the rig. It's procured and being prepared. Shell have also put an order after it's finished with us. The permit in any event is schedule to kick in on 1st August.

No debt - we're just a cash generating machine.

Sub £15 to me is low but i'd think there's a relatively slim chance of getting in at that level on the open.

That's the rig Kenni. Permit applications are in and we should hopefully hear something any day now. I believe the permit had a provisional start date of 01 August. Even if the rig sits for another week there's no issues here. Personally I'm expecting drilling to commence sometime within the first few weeks of August.

Out. Contracts awarded for drill campaign equipment and services. It's all coming together

It doesn't. We are contracted with Dolphin Drilling Ltd

Look at the historic trades - they're going through at 49 to 50p but this one went through at 0.50 (as in half of one penny). It looks like an error to me.

Borgland Dolphin. It's currently moored up at Kvina Verft (boat yard) in Norway after some test were carried out last week. They're probably prepping and doing some maintenance work. If you go on myshiptracking website you can see it.

I'm no longer in this - but what an insufferable human being he is

There's actually a decent flow of news to come yet which may create a bit more demand. FDP approval should be underway and expected any time soon. There's also potential announcement of the mobilisation of the drill and then of course the actual commencement of drilling. It's speculated that the development well is being drilled first. Based on this I think we'll still see a decent rise yet. The appraisals results are however the real game changer here.

I think the question is - after each drill will we see imminent news? I'd like to think we would see a flow of news after each rather than waiting until after all three are complete.

Have a look around. Lots of oil stock is down today

They have been released now.

We already know that a farm in partner isn't needed.

Another domino down

Agree with this. At this stage it would pay off to wait for the first drills (which are fully financed), confirm the resources and then if terms are right a JV could be explored in the future.

It would seem that the primary route being pursued is to maintain 100% control and to finalise the senior debt facility. As IP says, as it stands now we aren't reliant on a JV to continue with the drills as we have sufficient funding in place in the interim. A JV may be an option further down the line but they are seeking full funding directly at the moment.