Member Info for crudehope

Trellis, think there would be a long queue for that store room!! I might be needing some nursing myself soon if this LE doesn't hurry up!

I am currently abstaining for alcohol for the next three days as I have a feeling Thursday could be heavy, maaan! I am meeting a couple of LTH beforehand & no doubt afterwards...so I am juicing beetroot, celery, water melon & cucumber like a crazy thing - to detox. I don't know if you ever do that Trellis but I can't recommend it too highly. They are all diuretics so you will be peeing for Britain...but they sure make you feel good!!

My Algerian work colleague tells me the country has come to a virtual standstill. He said Sonatrac employees have been refusing to work and it's all because of the elections next Monday. The only services that are operating are the Police, Army and Hospital, he said! Very few people want the old President back in as a puppet...he's virtually dead anyway! He told me that when the Police started hosing down the crowds with hot water people started brandishing shampoo bottles...how about that for a sense of humour. Anyway, I don't know if export oil and gas to Morocco is affected and I haven't cross-checked any of this but it all seems very plausible.

N4apenny, 5,6 &7 all flowed at commercial rates...I personally believe that 10 will too. We are told we are not drilling an appraisal well so all we need for it to be commercial is around 1.5 million scuffs and then whatever we get post stimulation. There are still risks involved with that flow rate, however, we are told there are natural rock fractures so I remain quietly confident, albeit still nervous. If this well is commercial we are well and truly on our way to auction with the possibility of one more well, should it be needed!

Cheers...Crude

Hallowed, we will do our best to report back but the liquor will be flowing...before and after the event. It's going to be a 'Soundfest'!

Addemdum: the previous plan was to flow it naturally and extrapolate for fracking using TE7 data. That ship has well & truly sailed!! What is to say an appraisal well couldn't happen...'moving goal posts ' (I hate football but that metaphore is appropriate). Shifting sands often neccesitate different and appropriate footwear! This is a 'moveable feast'!

Hey Pete, thanks for clearing that up. I had thought around that figure but just couldn't find any evidence of it in an RNS. I thought I was losing it.

Anyway, Appi is on the case to find a good pub for our pre-speed date meeting.

Davey, not at all. I saw that as a possitive signal to investors. They knew we would make comparisons and that they would be very favourable. Such a low bar to commerciality with such high rates to compare...good signal imo!

CK1, amen to that! We long term inmates are surely due our sentence to be commuted! 10 years is long enough...its surely not a life sentence...my cash didn't murder anybody yet it has been locked up all these years...I demand conjugal rights....its been such a long time since I've seen my 'Benjamins' - or more relavently (UK) my Boulton & Watts (£50 notes) that I need to take them in a loving embrace and tell them how much I have missed them...and introduce them to a whole lot more post LE....................its fun Friday!

CK1, in your 10:01 post you mentioned concerns about a 'commercial flow rate'. I know porosity varies wildly but I am not so sure how much permeability varies. But remember (if you were invested at the time) the unstimulated result at TE7...before they tested horizontally was over 8 million scuffs. We have been advised that 1.5 million scuffs of unsti ulated flow would be commercial. I very much doubt they will not be able to get a decent flow rate from TE10, given previous results from 6 & 7. We are told that 'the big guns' are a precautionary measure...maybe to impress a potential buyer with an even better flow rate!

Pete, Appi can let us know where se could meet. I will ask him.

Hey mate, thanks to you I read that most excellent book...'The Frackers'... and subsequently read Andrew Gold's 'The Boom'! Both excellent books. But you really surpassd yourself with the Enron book...I loved that read so much I saw the play twice at Chichester Festival. You sure have a nose for great books Pete and I really appreciate them.

It seems so long since we heard from you...look forward to shaking your hand with a beer...next Thursday!

Cheers, Crude

'Ists' Billfish....you forgot to include 'ites'........lol!

Exploration how does that work: a puppet replacing a puppet? I guess anything is better than Boutefica! Anyway, the peasants are revolting & if democracy is not seen to be done in the forthcoming elections there is always the prospect of another 'Arab Spring'...which incidentally, would be in the Spring!!

Exploration, yes Boutifica has long been a joke of a President. He is now so lame he almost has to have someone wave his arm for him. But there was (I think) a prospect of some rich guy (I forget his name but he has been paying the fines of burkha wearing women in France) campaigning for the Presidency...what is the latest on him...if indeed, you know of him?

Crude

Billfish, don't beat yourself up...I wasnt originally invited either - some technical blunder that has meant I am now currently under psychiatric treatment. How could they forget about me and my bestie Appiamma. Yet my good friend Ponks gets an invite...his attendances at such events are rarer than hens teeth...lol! Sarah did profusely apologise so I guess its OK. You Scots make me laugh...always ringing that Alexander Graham Bell....................

I appreciate that Billfish - but as a company sale metric surely a few TCF (or maybe less) from the horst concession with a GSA can hardly be extended to the wider license as a valuation metric. In other words, how can the value of gas at TE5 be extrapolated to valuing our seismic prospect portfolio....

Exploration, I get that. I actually work with an Algerian so get the feeling of cross-border relations. He is always going on about the decrepit Algerian President...he's so old and infirmed that he is now in a hospital in Switzerland and elections are next month (I think). People in Algeria want a President free from French influence and that - 'free from French influence' - seems to resonate across the border in Morocco. A post colonial hangover that could be good for a post-Brexit Britain.....

The 'Bond', as you say has various factors, one of which is time and another being 'take or pay'...but we are only talking in terms of selling gas locally from the horst location and environs...most of the gas that a buyer would subsequently produce would presumably go for export through the Magreb pipeline to Spain. So it cant be much of a metric for valuing the company in a sale...or can it? Surely that is a completely different negotiation for the future owner?

Billfish, another couple of excellent posts. As usual, you raise some interesting points. As private investors we know so little of the content of the seismic survey, especially as they kept it under wraps by not instigating CPRs. So your point about "what spooked JP" into that trading plan is relevant. Was there a reason that prompted him or was it (possibly) simply advise from Marco (maybe) about reducing his exposure....

Are you attending the 'Speed Date'? Long way to come down but you just never know what may happen. I would be pleased to meet you.

Cheers, Crude

Shed, looking forward to meeting up...should be a great gathering of the faithful: unfaithful, insecure, unsure, fundamentalists, evangelists, rampers, de-rampers............vampires & Zombies now welcome.............