Member Info for Ddraig

Looks like a lot of algo trades going through for c.£5 principals and I'd suspect the MMs will do the same as most days and try to drop the bid to get some sells in the run up to US opening. There still time for speculative accretion even if your strategy doesn't look, to hold to news. COP verdict is taking its time and Merlin results may not be published till later in the week / next week. I personally am happy to hold thorough both those news points as I see the value horizon at 24-36 months....as does AG and the in coming non-exec Chairman given their comments.

10.29 - Yeah, maybe coincidental but thats interesting...I guess we'll understand any connection over the coming months/years

10.30 - Not necessarily. Non-Exec directors don't get paid like a full time employee as they aren't expected to devote 100% of their time....hence why many non-execs will sit on a number of company boards simultaneously. But experience and connections often they provide far more value than their financial arrangement in my experience. The Santos connection with Byrne I think may become relevant with the passage of time.

09.54 - wasn't one of the non-exec directors previously at Santos?

10.02 - I tried to paint a pick with respect to consolidation with reason and logic. I can’t find any logical reason why this would occur given 88e’s situation. Be interested to know why you think it might? Not sure a change of man at the top necessary makes much of a difference as I’m sure AG will look at the pros and cons and suspect he’ll come to exactly the same conclusion….

20.38 - no problem…

18.51 - consolidation generally isn't necessary and its inefficient to do so...maybe thats why you lost money?
DW could never reconcile enough benefit to offset the premium required t buy back shares, he came from an oil background. AG is an accountant so I'd suspect he'd be even less convinced. Share consolidation is generally for companies that generate cash significantly over their expected expenditure...we are definitely not there and in all likelihood never will be. We are unlikely to pay a premium to buy back the shares (which is necessary) plus any cash we have should and will be ploughed back into our prospects to avoid funding costs as we, like many companies, have a sub 1 cash reserves : capital expenditure ratio, therefore we are always likely to have an advantageous return on capital employed over any buy back....it really is that simple.

17.46 - what do you think the benefit is to a buy back? And what do you think the costs are?

13.07, closing price on 22 July 2020 (which coincidentally is the lowest price over the past 12 months) was .0.255p or £0.00255.
Multiply by the return and you'll get a current price of c.1.80p or £0.018

Really thin market...

Brokers keeping a tight rein on things this morning...can only get an offer price of £2,500 yet will bid for £25,000. Feels like they are trying to fill an order or cumulation for OTC...either way, feels like the price is being held back bit.

15.07 - that is the goal, definitely. I'm not technical enough nor have the insight to the information to know if thats possible (ie missing core samples) at this stage but I do know of other wells that didn't flow test and were deemed the discovery well (Pipeline State 1 at Talitha for example)....so there's reason to be positive. Very much looking forward to the announcement and the forward plan as so many options...
Revisit Merlin
Harrier
Umiat
Charlie-2
Guessing too soon to look at Talitha extension and nothing has jumped out for Yukon....but still in the background as is the HRZ

Quiet board and low volumes...summer is here. Still some good things in the very short term (Merlin-1 results and potentially COP court ruling which might excite in the lul) plus the usual plans for 2022 and any FO progress after the summer period.

Brent doing even better...again I say this as a positive general market condition. as opposed anything direct to 88E
$72.32
3.36 (4.87%)

08.58 - whilst mentioned those numbers don't include anything for the Talitha extension into our acreage nor the HRZ....many fish to shoot in a barrel

"@bullrunonly @BinaryLogic if
$EEENF
is looking cheap, how cheap is
$PTHRF
given they have announced the believe they have ~1800MMBO of contingent resource at Talitha 1? This is almost 7 times the size of Merlin. That’s conservative from the first two zones (primary recovery only in BFF and only 1 of 3 sands in SMD) with another 2 zones yet to be announced."

08.31 - Nice article and certainly you can see the positioning for our 1tr CUF of gas at Charlie...these things take time and patience but you can se the wheels turning....its called strategy

08.38 - Red Monday....I think I'll go enjoy the weather and stop in another day...
Looking forward to COP court result (whenever that process is finalised) and obviously the Merlin-1 results (hope they are positive but realise that full value may only gather pace into the next drill season).

08.38 - with respect to oil and oil stocks, No OPEC - price goes down....OPEC deal 0- price goes down...the oddities of the market

12.49 & 12.55… FO