Member Info for Deeko19

Guessing Alasdair Bruce finally set up an LSE account to vent his frustrations haha.

Either that or it’s Helge, fuming he’s been left out.

Have a good weekend folks!

Your only apparent holding is GDR… which is placing for less cash than we have…

Almost every share I’ve been in that 10 bags has clowns like you turning up, posting nonsense and talking it down. LBE is clearly doing something right to attract you here :)

Almost every single post here is becoming nonsense drivel by people that haven’t read a single RNS or watched a single presentation. Likely never held a single share that’s done more than 20% increase.

I recall the nonsense posts about placing at 7p. Whilst they were posting, a select few of us were buying significant tranches.

1.2 billion boe at Kertang for the P50.

1.2 billion boe x CoS = 300 million boe

Farm in %= 40%

Well cost £50 million

Farm in % + carry cost x well cost = $25 million

Farm in cash payment = £5 million

Total cost = £ 24.8 million

Reward = 120,000,000 boe

Cost £25 million ish

Total cost per boe = £0.20p

Cost to farm in post drill at P50 success case = 480 million boe x $3-7 per boe.

Risk reward is outrageous here for a major. Most of them have an annual budget of between £200-£300 million per year to spend on high impact wells around the world. If you worked in the industry, you’d realise just how little £25 million is. They spend more than that on just seismic to see if there is even anything around!

First - cash is end Q1 2025. So 9 months away.

Second - multiple majors interested. With multiple clients comes a strong negotiation stand point. Second, you obviously don’t know how majors attribute value to farm ins and risk/reward potential. Finally, the rig contact is in place with PETRONAS already, 70% of the well cost is on the rig itself. A 2 year contact suggests this is favourable terms.

All speculation on my part but I really feel you don’t actually understand what you’re looking at here. Majors around the world are looking to up their reserve replacement ratio due to their overly ambitious green targets, the last global gas crisis and the 2020 downturn where all exploration pretty much stopped (with the exception of EXXON due to the success of Guyana).

Shell and Total will want this ever day of the week since Malaysia is a core area. Wouldn’t be surprised to see BP attempting to come in (if they are aware of it) either. Gas is hot and we’ve got the Mayfair in the exploration world.

Seav,

What are you even talking about at this stage.

In a region that’s heavily CO2 prone, your surprised they have a slide explaining why the prospect risk for CO2 is low?

Menzies literally build a company in that region and has worked advising operators in Malaysia as a consultant for a decade? And you think Helge was the bargaining chip. Menzies advised Longboat on the entry to Malaysia… what are you even talking about.

Menzies point was that the prospect is so big and a tiny company managed to convince PETRONAS to give it them. Luck… as in right place and the right time. We walked k. And they said, have a look at this, there’s 3D covering most of it and it’s got Direct hydrocarbon indicators. Pure right place, right time.

How you’ve managed to misinterpret everything is amazing.

Didn’t expect this gift horse today but I’ll take it

Value seeker. Just on your last post. It’s pretty clear you’ve never worked in the industry.

Are you really uncertain why a drill in Norway would have a higher CoS that Kertang?

Are you uncertain why, the bigger the structure the more risk that’s associated with it.

How many 1 billion boe fields have you seen with a 70% CoS? I’ve seen none personally?

Personally, it frustrates me when boards become like this (ramping vs deramping debate).

The facts are in the presentation and RNS’s. How they are interpreted is the issue.

Yes C02 is an ever present risk but the data used to either disregard, minimise or emphasise the risk has been provided. Calibrated C02 heat maps from source rock quality, well data and tectonics has been used to emphasise that the risk is minimal. This was supplemented with seabed floor samples with trace volumes of c02 to emphasise it’s a negligible risk. Similarly, they highlighted that there are drills below Kertang that are sweet gas.

I’m just not sure how you collate and package that up as ‘C02 is a risk’ when all data indicates it shouldn’t be.

Seal is a risk, but they show 3 other fields with large gas clouds above them that remain mega structures. Yes it’s a risk that the seal integrity is broken but there are many other risks exploration brings. Weight that one up as you will.

Either way, if Shell and Total are exploring and showing interest. It will be their G&G folks that make the decision. All the data has already been presented and it sounds like they are clawing for the chance to farm into this.

If they are going to drill a well regardless because they have a budge. Then it’s likely going to be the biggest undrilled structure IMO.

Nobody here is ‘ramping’ IMO, I’ve merely just reiterated what the directors have said and applied some engineering judgement into the gaps.

Finally, Menzies is looking for a free carry and cash!

DRO awards more than underpin the current Mcap IMO. Cash from farm in and block 2A are freebies at this point.

as mediman says.

it feels like you’ve cut and **** a few different paragraphs together there.

they literally have a diagram with a head map showing where the c02 risk is and block 2a sits entirely outside of it.

either way, any serious investor will make up there own mind but i firmly know this is mega cheap even at 80p a share… hence why i topped up with 42k shares yesterday and will continue to top up well into the near future.

I’m not sure we listened to the same presentation. Maybe it’s late but I’m they’ve done nothing but reiterate that they are outside of the C02 fairway, sea floor samples, of which they’ve had multiple have almost no C02. Fields surrounding Kieran’s are sweet gas?

They also spent 10 minutes talking on why the CoS is good to high for such a huge structure?

What presentation did you watch?

Https://theedgemalaysia.com/node/717013

I think it was a well carried out presentation. Maybe abit sheepish on the details of the DRO. However they did acknowledge they are material to even a Mid sized producer! Exciting news on that to come!

On the CoS, they mentioned that for a prospect of this size, it’s actually mid to good CoS. As James mentioned, wells like Kjottkake have 50%+ because they are tiny step outs from an existing field. Kertang is so big and isolated but does have existing discoveries around. I think the CoS is fair on that basis.

I think James comments on gas charge being obvious based off the seismic went unnoticed! I also think that the fact that Kertang is so big it dwarfs all the other structures may have not worked in our favour. There must be another 9-15TCF in the other structures based off that map!

Wouldn’t it be fantastic if the drill came in on the P50 and they continued to follow up the other structures with drills. It would be EXXON in Guyana all over again.

The hot topic for me right now is the DRO’s though, I’m interested to know how many BCF we’ve been given.

9 TCF is world class.

The headers arnt showing in the table so I’m not certain but assuming they are P90, P50 and P10 values.

If so that P10 (10% chance its bigger than) looks insane! 22 TCF

P90 (90% chance its bigger than) isn’t bad either at 1.2 TCF

P50 9.1 TCF

Amazing (if I’ve assumed the header correct)

As suspected. The CPR confirms what we already know - farm out partner next and DRO’s info, partner and hand over still to run

Brill!

Roll on investor meet, hopefully some info on the DRO’s during the investor meet.

Roll on farm out!

Feels like a standard large corp management reshuffle. Tomorrow will tell!

Showing as a sell at 20.44.

Also, it’s interesting that we are sitting at an arbitrary 20’ish Pence. I never understood the markets attraction to whole numbers.

I’ll sell at 20p, I’ll sell at 30p, I’ll sell at 40p. Human nature is strange. Either way, lots more to come give the real value indicator is a minuscule Mcap of £11 million.

Feels abit like the calm before the storm. Hoping we get more detail on the DEWA asset through either via RNS or presentation, similarly hopefully we’ll get some info on the partner in Malaysia.