Member Info for CrustyPete

More dilution inevitable.

So are we to assume that the search for a JV partner and the concentration on cost savings is indicative of their having given up on ever getting any money back on their unpaid gas invoices?

Feckin' stinks.

Here's to that Sambo.

Back to "patient" mode and a downgrade on my "opinion" to Hold

Bugger :-(

Agreed Ufufuo, I had no expectation of an imminent drill and, whilst seasonal rains are no longer the issue that they once were, I had hoped that we might get a date before the autumn rainy season. Though that would almost certainly have required them to have drill contract near completion with a suitable rig identified and "in country" which was always unlikely.

"I'd be very disappointed if we weren't spudding in Q1"4

But Sambo he wouldn't be the first AEX CEO that was "disappointed". It has been the default position for CEO's for the last 3-4 years and most of the last 10.

Down she goes - bugger.... yet another year passes we LTH's by. Arrrrgggghhhh.!!!

What were you saying yesterday about patience GL? -This is trying mine to breaking point.

Maybe the Zubairs were not happy about the sp rise? Let's get the CEO to deflate it a little... Might Robsroom have had a point?

Exactly as I said yesterday fjones - just because the Farm-Out has been completed does NOT mean that this is worth 2p a share! There is a lot more yet to deliver and first amongst those is the drill - which we now know is over 6 months away. How many will hang around sitting in AEX for 6 months, eh?

They want the LSE listing and the shareholders to raise development and investment capital.

It has simply returned to where it closed GL nothing to get excited about....

Hold?!?! We haven't even got there yet! 0.975p MID price and 0.95p BID price.....

Though looking at the timing of the transaction it could (I stress could) actually have been a BUY..... The upward price movement occurred at just about the same time as the transaction. Though I suspect that, as I suggested yesterday that the MM's were holding the BID down to clear an overhanging SELL transaction and that trade may well have been it.

Won't be around much today so I wish you all well and hope that when I get back that BID price is above 1p ! :0)

Quite possibly BG - it was certainly an "off-market" transaction.

And just to be clear BG, nor am I saying that post Farm-Out that APT will not choose to re-enter it either, simply that when AEX were ruling the roost and with a far more limited cash pile, they considered that it was not an efficient or effective use of what were then, very limited funds. APT may well choose to throw money at it but I would not count on it; they may well prove to be just as frugal.

In any event I do not think that decision will have any material affect on the sp and I would suggest that any future decision may well be influenced by the outcome of CH1 drill. It could make NT1 & 2 and their connection to the pipeline somewhat small beer?

It could be up to another 6 months at the very worst.... :0(

Other than that, by moving it circa 100 metres further updip, they would have avoided some of the technical difficulties that contributed to the complications in the drilling process I cannot be specific; those technicalities were over my head.

That is not the reason that it was in the "wrong place" is what I meant.... even if they move NT2 a short distance it still won't be drilling the Jurassic layers

Anyway, enough, life is too short.

No BG it never was intended to test the deeper Jurassic play..... Indeed it would have provided far larger gas flows but as I have said now many times but which you appear not to either accept ir understand is that if it costs $1m to produce another 10 mmcfd by re-entering NT2 but $2m to produce 30 mmcfd just 100yds away then which is a better use of the money?

The issues and complexities with drilling NT2 were the reason it made sense to move it. To a position where those issues and complexities were perceived as being much reduced with the additional impact of it being more cost effective.

But hey, I won't continue to waste my breath BG you obviously know better. I however will continue to rely on what I have been told by the then AEX BoD.

Well it is only 2:30 but will 0.975 be the high water mark for the day? I think it may well be there could be a lot of short term stock on the market at around 1.0p.

It may take more than 1 attempt (3 more likely, methinks) to get through it. Without news that is.

17 scuffs per day is sufficient to make NT2 commercial in it's own right - re-entering NT2 will not necessarily provide the most efficient ROCE, PLUS drilling a new well allows them to select a more suitable and potentially lucrative site.

It may well be BG but as I have been saying for a long while whilst cost (of NT2 remediation versus drilling anew well) is a major factor there is also the consideration that (in retrospect) the NT2 well was not in the ideal position in the first place.