Member Info for DaveWin

Kindly show where 50% of GWA equates to 25% of HUR?

I'll wait

Centrica are not exactly small potatoes and they own 69% of Spirit Energy.
Other than BP, Total etc they are huge players in offshore O&G

Little company ITX have turned out to be.
SP has collapsed and theyve decided to shut the UK operation down just at the point where AN partnership announced.
The sooner the SP recovers so I can sell up my holding here as I detest their way of operating.
Im sat on a 90% fall in value of my holding here and frankly think the entire BOD need removing.
Disgusted

As the market awaits news of the injunction result, the MM's walk down the SP. How predictable Zzzzzzz

"Location Sciences Group PLC (AIM: LSAI), the leading mobile location data and intelligence expert, will announce its unaudited interim results for the period ended 30 June 2018 on Wednesday 5 September 2018.

Mark Slade, Chief Executive Officer of Location Sciences, will host a presentation for analysts on the day of results at 11:00 at the offices of Redleaf Communications, Sky Light City Tower, 50 Basinghall Street, London, EC2V 5DE. To register attendance, please email LSAI@Redleafpr.com "

I still dont understand why they cant be audited beforehand?

All I can think of is that it'll take more time and right now we are burning cash.
So release unaudited accounts to throw us all a bone before another placing.

*sigh

After todays great RNS, and using the tried and tested scientific formula most commonly known as "back of a fag packet" , i'd expect to see the SP gain about +20% by close of play.
Putting us around the 60p mark

Swampies dont take kindly to being told "No"
It must be their middle class upbringing which leads to a sense of entitlement that brings out the spoilt child in them if a big, bad man doesnt just automatically give them what they demand

That aimed at me jiddy? Why?

Do we have any idea what time this is being heard in court and how we are likely to hear the decision in the quickest way?

In the words of Donald Rumsfeld,
"There are known unknowns and unknown unknowns"
#ClearAsMud

Seems like it wolfiecrf
Deluded doesnt do them justice.
We all want FRR to do well but yet again, we are expecting some good news and we get nothing but more hush hish, nod nod, wink wink
My patience is done with Zaza and the muppets who continue to blow smoke up his behind.
He can claim all that he wants that this is excellent as he has 2 majors interested, but like everything out of that mans mouth if he told me it was sunny out id open the curtains to check.
Like i said earlier, if this bounces then im out.
I dont buy into his BS anymore

Oh dear, the Zaza happy clappy squad are out in force.
Thanks for popping up from under your rocks.
Makes it easier to identify turds

Morning Brom,
Nothing to post about. No news. Just the hangover from the failure of #IW2 to flow has destroyed any optimism here for the short term. No matter which way they dress it up its a failure and the SP reflects that.
The BOD can have as many fancy investor drinks and canape events as they like but nothing will change the mood here until they deliver something.
So far, other than feint promises of success theyve delivered zero in my mind, just waffle and disappointment.
Just my opinion and its time less for a little less converstation little more action in the words of Elvis ;-)

"As previously announced on 8 May 2018 and 21 May 2018, the Company started Extended Well Testing ("EWT") of comingled production from Zones 14 and 15 in Taribani wells T-45 and Dino-2, situated within onshore Block 12 in Georgia. Â The intention was to combine the two zones and test the combined flow of Zones 14 and 15 for a period of approximately 60 days, then stimulate Zone 9 and produce from all zones together. In order to better establish the long term comingled production capabilities from Zones 14 and 15, having previously announced a successful initial flow test, the decision has been made to continue well testing the two zones for a further period before perforating and stimulating Zone 9"

We had a 60 day test planned, which has overrun by +30days at least. They wont release the data and have extended the tests again, with no detail of when they are expected to be concluded and many are saying this is good news?
If this bounces today and i can recoup my paper losses then im out as this is BS

Zubairs,

Thanks for the investment advice.

I trusted them BEFORE i invested here, since being here now for over 3 years I dont anymore.
Is that too difficult for a pleb to grasp?
As soon as the SP recovers im out of here. Until then keep your sinides to yourself #keyboardwarrior

No. Thats just the initial 3 well drilling carry costs

" Commitment by Spirit Energy of up to $387 million in carry

Significant GWA work programme, including:

Phase 1 - 2019: Hurricane fully carried through $180.6 million (gross) programme to drill, log and test three exploration and appraisal wells to accelerate appraisal of the Lincoln discovery and exploration of the Warwick prospect; fund the purchase of long lead items to allow the tie-back of one or more GWA wells to the Aoka Mizu FPSO in 2020; and carry out host modifications of the Aoka Mizu

o Phase 2 - 2020: Assuming Phase 1 is successful and FID is taken to proceed with the GWA well tie-back, Hurricane carried through 50% of its share of an estimated $187.5 million (gross) programme to tie-back one GWA well to the Aoka Mizu, complete host modifications of the Aoka Mizu, tie-in to the West of Shetland Pipeline (WOSP) system for gas export, and thereby allow for first oil from an Early Production System ("EPS") on the GWA in Q4 2020

Contingent further contribution by Spirit Energy of $150 - $250 million, in the form of a carry of Hurricane's share of GWA full field development costs, following FID of this phase"

Then the mkre excited I am.
We have a farm in partner who are 69% owned by Centrica. Who have pledged to invest the bast part of $450million into developing the GWA and to help bring it on line years faster than we could do alone.
Im surprised at this announcement as it seems that Dr.T is in a rush to get things done.
Short term hes pulled a blinder with this. Long term only time will tell if he has been hasty.
Thoughts?

How long will this EWT continue for?
Im invested in lots of other oil exploration companies and NOT ONE has successfully drilled a well, to then keep testing and testing and testing. They are all desperate to get the flow test results to market asap yet not Zaza. Who seems content to me to keep telling shareholders, "these are commercially viable, just you wait and see, and we've 2 oil majors involved but we cant talk about it publicly"
Sorry but it all seems like BS to me
We were expecting detail in this RNS, instead we get more, "wait until tomorrow but this is good, you'll see"
I just dont believe him anymore. It wont be long before they finally come clean but if it was good news surely we would know by now?

We have 5.22billion shares in issue.
Best case scenario is we have a lake of oil down there stretching hundreds of feet deep and miles long and it flows.
If that happens its not beyond the realms of possibility for UKOG to be valued in the tens of £Billions.
Realistically though, im not that lucky and neither are you so I will be more realistic and say we can recover 15-20% of the oil that we hope is down there, valuing us somewhere around £1billion.
So im hoping for a SP somewhere around 20p-25p
Anything more and i'll be way beyond hopes and dreams

Patience