Member Info for Deeko19

Auditor resigned. What does this mean for the company and why would they resign

I honestly can’t understand why they are even here tbh. Their posts have no bearing whatsoever on the share price and the rise would have happened without them.

$50 million is a rule of thumb. +/- $10 million depending on testing and what they want to learn.

$7.5 million ish for the carry hence why I think they’ll end up with a decent chunk of change on the farm in given everything is boxed up and ready to go.

I’d be hoping for more Zebbo based on the fact that we’ve processed the seismic, high graded the prospects, have sea floor sampling showing gas is there, we have a drill ready target and the drill rig is already scheduled through PETRONAS.

It’ll be an interesting 7 weeks :)

Uracca - completely agree with you. I hope whoever offloaded the from PCP is watching on.

Alastair Bruce - I hope he’s watching on too. Dumped us down to 7p before the pivot to Malaysia.

Zengas as always. Brilliant post

Agreed.

In the words of Menzies…I think we are in the right at the right time. SEA is accommodating to smaller companies and the leaches of private equity have not yet arrived.

Sarawak is an old basin but Deepwater Sarawak is under explored. Gas is in vogue vs previous focus on oil and Sarawak super giant gas field exploration is hot property right now. Plus there are 2 majors expanding, 1 NOC and a large international all with gas focused portfolios in the region.

On top of this, due to under exploring over the past 5 years, all majors are wanting to replenish their reserve ratios. You can see this in the sheer number of exploration farm ins globally.

Perfect storm

An example but not SE Asia. Chevron paid 12.5 million to farm into a block with no seismic. 15 million towards the companies seismic costs and 20 million towards we’ll costs.

So 47.5 million for a block with no seismic.

https://www.oedigital.com/news/512038-chevron-to-become-operator-of-exploration-block-offshore-uruguay

Glad to hear it Ash. Just the beginning imo.

Farm out news due soon. Menzies has delivered on everything he’s promised up to this point. Hence when he says cash and a free carry, I’m expecting something juicy cash wise.

The farm in partner won’t just be just buying into the Kertang prospect (9TCF) but also the multi TCF follow up prospects. Given Menzies industry connections in SE Asia and intense industry interest in the farm in process from majors. I personally would be hoping for upwards of £25,000,000 plus a free carry. I’ll be researching recent farm in data later tonight and post any relevant information here.

Zengas - ‘ So worth remembering for anyone new to this that within Block 2A - and referencing the June presentation page 9 where you will see a number of’

Slide 12 of yesterday’s presentation also shows a smaller Kertang style structure named ‘Sagai’. Again this will be a multi TCF field but smaller than Kertang. Interesting that they kept the name and structure polygon on the slide. Easter egg for the productivity of the block.

That also excludes the ponded terbidite play highlighted in June

Ps I’ve reported both of these posters. Hopefully their posts get removed because there are some very good posts being lost on this garbage

Sorry mattle. Please don’t take your grudge against these two posters out on seascape. There is a very good reason for the 45% and 25% rise over the past two days. And it’s nothing to do with these two posters

Agree with everything said below.

If the drill bit was turned and 500 bcf was found this would be many multiples above current Mcap.

Completely under the radar right now

Agreed.

8 weeks until the end of the year (before everyone goes on Christmas break). They sounded confident they would have something signed within this timeline…

Let’s see :)

Agree Zengas.

The other way to view this is… Kveikja was 4 mmboe net, kjottkate was less than that.

We’ve just been given 3-4x that entire longboat portfolio reserves for free… not including the biggest fields West Acis and spoah.

IMO Menzies and nick have delivered. They spoke 2A farm down for cash and carry. They spoke of production acquisitions. Let’s see… exciting times ahead

Sorry, I massively underestimated. That doesn’t include West acis and spoah. Previously relinquished during the 2014 oil price crash but I believe ~100 mmboe between the two fields. Will take a look later

Ohh look. The fields are as I posted months back and 80 mmboe :)

Safe to say the sarawak government is clearly acting as a hindrance. As the saying goes, too many chefs ruin the broth and that’s what’s clearly happening here, Malaysia federal government, Sarawak state government, petronas, petros… with petronas in charge things were slick, now Sarawak want more control things are moving at a snails pace

99% Jallis :)

Once you take part in the placing at 1% you can then hype this up for 10% profit and move onto the next share. Could have £100 quid profit by Christmas!

Those already invested are fully upto date with cash resource and the strategy for funding.

Unless you have no idea what you are invested in then that wouldn’t explain it.

Taking advantage of the human nature imo. No update on dro and impatientience of PI’s.

Updates a dud imo, the only thing people want to see is ‘award of PSC’.