Member Info for CrustyPete

Absolutely agree with you Blubay. Dilute away. We would be in a far better negotiating position post next drill (Tai3 style operational disasters aside).

I couldn't have put it better myself magicpuppy....

Blubay, you say "Part of the CEO job is keep the company profile lively at times like these and help float the share price while waiting for news, which I think she's done well here".

Absolutely! It's her job alright - pump up the price before that next placing eh?! ;0)

Many a true word spoken in jest eh?

"Bitter" ? Absolutely not, I have no reason to be bitter, feeling very good about my He1 investment. Simply questioning, that's all, rather than getting swept along in the hyperbolic, self-congratulatory triumphalism of 90% of the posts on this BB. It is always sensible to keep your feet on the ground, I think....

Indeed so Blubay, consequently, first requirement is to create the model, second test the model with new drill, which will require funding, then a JV, partnership or farm-out. So a little while yet then....

Understood Blubay on the commercial and JV side BUT they need that modelling before concluding any meaningful, constructive negotiations and, as LB stated n the interview, they still have a lot of work to do in that regard.

Indeed I would not be surprised to find that they need to drill again to firm up on any putative "model" that they may come up with.

5085 you say "Pete my thoughts on this are.................... how do you measure or attempt to measure the unmeasurable?"

That is the point 5085, during the interview LB explicitly states that they have that data - it is measured!

Now I understand Blubay's point that in an non-standard gas "reserve" they will need to do some modelling ; I agree. But without that modelling the 4.7% figure for gas flowing to the surface is fairly meaningless as well...... How long will it last? How long will they be able to maintain 4.7%? etc

As I said just now; very selective information release.

Thanks for the response Blubay but I am not sure that I am convinced by the explanation - yes, I know very well that they have to model what they have found BUT LB tells us they have the flow rate and pressure data, in exactly the same way that they have the 4.7% figure for the Helium flowing to the surface - why would they announce and socialise one (impressive but simplistic) piece of data and not the others? All pieces of data are price sensitive are they not? What use the 4.7% figure without the modelling. Very selective information release, methinks?

She also stated that they have flow rates and pressure - so why oh why have they not published or articulated those.....? As they almost certainly price sensitive pieces of news are they not obliged to? A little perplexing methinks.

25 -29p is my expectation - but so much depends upon any commercial and joint venture arrangements that it is difficult to say without clarity of those.

For that reason I hope that we do dilute in order to drill more or deeper wells as the greater the proven size of the asset the greater our leverage and bargaining power. If we do that and have similar or even greater success with further drills the sp should be considerably higher.

Hello Finched - I tend to agree see my earlier post repeated below:

So my take on the video is that, evidently, there are reasons to be extremely optimistic and LB confirms that the lab results will not tell us anything that we do not already know. However she is also very careful to state that they are still evaluating exactly what they have discovered and what that infers when it comes to the commercialisation of their discovery; moreover that they still have a lot of work to do. This reinforces my long held belief that we will still have to wait some considerable time uyet to understand what that is AND until they know how they can commercialise the well they are highly unlikely to enter in to a JV for that commercialisation. How do they know what they need from any JV partner? More than simply investment methinks? They can raise that from the market.

Having listened to this interview I would not be surprised to find that they drill another well in Itumbula or deepen Itumbula 1 and / or Tai3 before they decide to bring in a JV partner. That would mean another capital raise / dilution of some sort.

Mmmm, so Joe90 has become TheRigPig!?!

So my take on the video is that, evidently, there are reasons to be extremely optimistic and LB confirms that the lab results will not tell us anything that we do not already know. However she is also very careful to state that they are still evaluating exactly what they have discovered and what that infers when it comes to the commercialisation of their discovery; moreover that they still have a lot of work to do. This reinforces my long held belief that we will still have to wait some considerable time uyet to understand what that is AND until they know how they can commercialise the well they are highly unlikely to enter in to a JV for that commercialisation. How do they know what they need from any JV partner? More than simply investment methinks? They can raise that from the market.

Having listened to this interview I would not be surprised to find that they drill another well in Itumbula or deepen Itumbula 1 and / or Tai3 before they decide to bring in a JV partner. That would mean another capital raise / dilution of some sort.

I would tend to agree RR but there are mechanisms that might allow them to salvage something out of it - but not, I fear, for shareholders.

"So dangerous to be buying when they have announced by the 29th there will be no value for share holders"

Well I don't think you can say there "will be no value for shareholders" - only that there is unlikely to be any value. But I agree with the overriding sentiment - it looks as if it is likely to be dead in the water. But then to be frank anyone that were stupid enough to follow the self interested ramping of the pump and dump merchants on this and other boards have only got themselves to blame - it was as obvious as the nose on your face that they were (and still are) just full of carp.

@Laguelle you say "You have to ask yourself why?"

Because likely as not that COPL will go into administration at which point the existing management will have negotiated a "pre-pack" deal to take the remnants out of administration and milk the asset value from the company. Though the existing creditors should really not allow that.

"at that price it was a buy", yes, agreed but since that "buy" the sp has reversed by 30+%

Me too Parkers67 - under the tag "Libelous and Defamatory".

"We are up to 4.7% and could be up to 10.4% at the Itumbula West 1 well according to the HE1 RNS in November."

Now that is possibly the most one-eyed interpretation imaginable - talk about "accentuate the positive"...... good grief. BA certainly takes the biscuit as the rampers ring master.

I would always be happy to share a lunch with you Roger, bet or no bet. Indeed it would be a bet that I would both expect and be happy to lose ;0)