Member Info for Deeko19

Bloody spell check.

The resulting situation*

Agreed. The risking situation after someone (open) selling 9% of the company is less than a 5% drop on my sell price.

Good riddance I say :)

I’m not sure that’s a fair assessment.

If you read through the financial report you’ll find Menzies is probably the most incentivised man on the planet to get Kertang farmed out and drilled.

I see both sides on this one but leaning more in favour of Mommurs view point. Maybe options tied to performance metrics would have been best. I’ve also seen much worse incentive plans too so overall I’m not too fussed.

Either way it’s done. If this goes the way I think it should then we’ll all be happy.

These red dots are easing my excitment levels. I keep expecting it to be the DRO news dropping! The wait continues :)

In the words of Menzies ‘some of these have wells in already’

Near term development, potential to already have wells drilled. Petronas happy to negotiate offtake routes.

Sounds like the stars are aligning

Was in Tullow from 7/8p too! following the shocking downgrades and the RNS on Orinduik being sour. Noted at the time it was similar to hammerhead and was surprised to see Tullow bow out of Guyana (bad move imo). Sold out between 45p and 60p.

Agreed that the low float does open this option up but I think given the board have shown a willingness to not sell us down the river even at the worst of times, I’m doubtful it will happen. At least until the Mcap is many multiples from here.

Mommur,

Not researched in detail but;

Didn’t ECO receive a £6m payment for 6% farm out and retains 6%.

LBE has over 50% to play with. That cash payment in itself could be multiples of our current Mcap. I don’t see any point speculating about raises tbh, especially discounted ones. It’s baseless IMO.

DRO’s on top of that.

Agree!

Kertang is mega. An RNS for a free carry and cash with say a shell, Total or NOC blows the lid off this.

Personally I’m happy to sit around and wait.

The board mentioned mid summer which can be misinterpreted as a few different dates.

Summer runs between midJun and mid September. Hence I would suspect it would be some time in early to late August.

Given Petronas have dished out 1 DRO already. In reality it could come anytime in July also depending on how simple the final negotiation is.

Summary is… I’m not sure. The longer it goes on, the more shares I’ll accrue and the higher the likelihood of back-2-back RNS’s

Patience will pay off here IMO.

Nice resistance base being built at 20p. I personally think this will fly to a £20/30 million Mcap on DRO news quickly followed up with an update on the Farm out being progressed to data room etc.

All IMO of course but I’m taking advantage of the price right now

‘Wait until you hear of a place called Brunei’

Dude, if this is your investment decision, I suggest you actually look at a map of Brunei.

Please peddle your snake oil elsewhere.

There’s only a few onshore discoveries in the area (although admittedly they are decent size… nothing compared to Kertang though). There’s no documented reserves or even a basic CPR on the area. There’s absolutly no info available on platforms used for industry data on, Kertang showing as the largest prospect in Malaysia and onshore doesn’t always translate to cheap.

Petronas have been shown to be very efficient at handing out PSC hence I’m not sure what’s causing the delay there. I genuinely wish you all the best though, always happy for a private investor to make money but IMO LBE takes the prize over UPL

That and UPL doesn’t actually own the block or have a PSC in place to farm out.

I’m really unclear on what the actual set up is there tbh.

Taken another trench myself today.

Apologies, meant to reference the map highlighting the D fields and E Fields in that link

Took. While but, I came across this.

http://processoilgas.blogspot.com/2012/01/malaysia-oil-and-gas-industry.html?m=1

Very few fields in Sarawak begin with the letter D. Once I found this is wasn’t difficult to find the acronym DEWA.

Again, lots of assumptions feed into my analysis but I’ve researched many of the fields I believe will be in the awards and if your base case assumption is 10 MMboe then you’ll be a very happy man!

Whilst we are waiting, might be interesting to see if anyone draws the same conclusions as me?

Anyone else managed to come up with a rough estimate of the fields or reserves?

This week hopefully. But not overly concerned with a delay.

I believe I’ve found the DEWA assets after many hours of searching :). I won’t post here though because it’s very much guess work with lots of uncertainty.

I’d consider you a compulsive liar Valueseeker.

Your holding is no larger a few £100 imo and you wasted your own time posting out and out lies on here for the sake of less than a 0.5p. IMO the drop would have happened anyway regardless of the garbage you posted.

Waste of time really

This will fly here.

Been researching over the weekend.

Every major upstream analytics company is showing Kertang as the number 1 mature prospect in Malaysia and there are several Kertang (lookalikes on the block). No surprise they’ve had multiple companies wanting to get in the data room.

IMO this farm out will be a bidding war.

Similarly, gas finds to the south and east. And just under 100km to the west, the largest gas find in the region at 250 TCF!

The potentials insane here. I’ve convinced myself to build a larger position over the next 6 months.