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Can someone say if the chance of success has changed following the RNS. One assumes so but to what?

Maybe a little profit taking? Hopefully it’ll hold around here until more good news in Feb.

It’s certainly a lot less animated on the board today and with the rise I’m feeling cautiously optimistic. Not expecting fireworks on sp but im feeling slightlymore reassured and optimistic.

Thank you. Hasn’t seen any negative comments (maybe there are some) which makes a change. With any luck the sp will end up a fair way north of where it is now.

Could someone sum up what was said last night?

I’m in the “let’s give them the benefit of the doubt camp” still at this stage . But I shall be a bit disappointed if tonight is just going over old ground and there isn’t some relatively chunky news. They must know the pis will go ape if it’s more of what we already know.

Fsc and cc need to be meaningful and constructive otherwise pis will only feel more disgruntled. They surely will have thought this through and decided better to do it rather than not. I’m still optimistic but I’ve always been that way.

They must have something reasonably chunky to say. After the reaction to TE-9 I would have thought they would want to manage comms very carefully.

Talk of a conference call on 13th December. Perhaps to tell us about GSA or maybe TE-10 drill plan?

There is no doubt this share has been overhyped, even if TE-10 and/or 11 come up trumps, but a COS of 30% means a 70% COF. If you bet on a horse at those odds and it didn’t win you’d say “oh well, you can’t win ‘em all.” JP has sai a lot of things but he never said the COS was high. If the seismic results were “as good as it gets” and yet the COS didn’t change then surely that says an awful lot. I’m staying in as I think that the worst case scenario leaves the sp some way north of where it is now.

Is what do they now think the range of outcomes will be now? 9tcf-17tcf-31tcf? Reduced by just the estimate for TE-9 or more than that? Like a lot of people I’d bite your hand off for 9.

Did the company say 9 was the best prospect in terms of size or the chance of success v 10 and 11?

Whether the smart thing at this point would be to sell now and buy back in in a few days after a bit more of a drop knowing the company is worth more irrespective of TE-10 or 11 results? Somehow can’t bring myself to do it.

“As these wells are not correlated the result on TE-9 should not be considered as any sort of indication as to what TE-10 might find.” Earlier today some people were saying that the company have made decisions on the same seismic results so we shouldn’t expect anything different with TE-10. Who should we believe?

Obviously not great news but the market doesn’t think it’s that bad....

The key surely is whether the difference is big enough to offset any concerns we may have about their interpretation.

So what happens now? What is the next milestone and when can we expect to hear about it?

You may be right and personally I would bite your hand off for £10 but I can’t see a major parting with that sort of money without a bit more proof.

Does anyone have a view on timescales? Presumably the threat of legal action in the EU courts might prompt them to pull their collective fingers out but they might also drag their heels knowing that this will take time and money.

I agree. I just can’t see the stuff simply being left in the ground. It’s worth a fortune. Would it be left it was gold? No.