Member Info for Desmond45

It’s a dog share based on current performance. Don’t think 88E has drilled its last borehole just yet though. A lot depends if the next one can be done on a timescale and budget that doesn’t write off all LTH existing investments. Sort it out Dave, heck, even go and buy an asset that isn’t a complete dud if needs be. Must be an AIM record for one company to burn so much cash over 5 years without seeing any success whatsoever.

Lipstick and pig spring to mind

I think they’ll sack the corallion leases off for now. Expensive to drill and a bit crap as others have pulled out too. Focus on WN and Parta for now and maybe dabble into Wressle or some other producing asset.

Can see this hitting £5 a share soon with oil plummeting. Good luck all

Why else would Premier Oil simply give it back to us for nothing after spending £23m and have no further interest in any of our leases whatsoever?

Because it’s in the arse end of nowhere and requires billions of dollars to set up the necessary infrastructure, hence why our partner bailed immediately.

There’s no chance of commercialising the condensate unfortunately. Stranded asset at its finest. DW will put together an ambiguous RNS regarding the sample analysis though, just to drum up enough interest for a cash raise.

PDMS - I believe the archeological work has already been completed.

“Rathlin was granted planning permission in June 2015 for up to two appraisal wells at West Newton-B. The first well, to be called West Newton B-1, would be drilled to about 2,100m, the application said.

Under a condition of the permission, work must begin within five years. Until now, the only activity has been some archaeological survey trenches.”

Wheels starting to turn at last. Won’t be down at these levels for too long, institutional investors sank 23m in at 0.9! GL

Time for Dave to step down. Absolute clown has mugged shareholders for years. What happened to the folk who approached him who “knew what was down there”

????

Looks like Brom has ridden off into the sunset never to be seen again?

Well lads, didn’t get much sleep last night that’s for sure. You win some, you lose some. Gutted for all genuine holders who have took one on the chin today.

The presence of condensate in the Torok horizons (close proximity <500ft from HRZ in an 11.1kft well) at this location has somewhat lit the possibility in my eyes that the unconventional might just sit within the correct thermal maturity window to crack the shale play. Afterall, the HRZ is the source rock which filled the Torok.

One things for sure though, I sincerely hope the board receive a second strike on Thursday and are forced to spill the board. As I have stated many times in the past the board receive exorbitant remuneration for what can only be described as poor management. Paying consultants like Steven Staley a grand a day and throwing out share options to Dave and Co like confetti over the years. How did they get it so wrong?

If the HRZ analysis goes well, we might just find a farm out partner who wants to drill down and flow test the torok and the HRZ from the same wellbore. Alas, this all takes time and there will be considerable dilution in between, especially for a small cap with large overheads.

Not quite game over IMO but serious change is required. Good luck to all.

And for all the gloaters and ‘told you so’ crew, kindly take a long walk off a short pier.

D45

I will be getting up early to send my vote to spill the board.

Interesting that the Torok is within the condensate window in this location, Almost directly above the HRZ. Maybe we will be seeing those superhighways again.

We tried guys, we tried...

I recall poor days trading prior to bad news on recent drills (a la winx). Getting a good feeling about this one!

Nervy times, good luck folks

Goodness me. 2p by next Friday???

Has IM-1 flow test started? Last presentation indicated it would be done by the end of Q1. Most recent RNS which mentioned it said it was occurring in Feb 2020. What’s going on? Are S&S taking the **** yet again with their timings? What about this 3rd Monroe Swell drill? The presentation event timings are literally always way out...

That’s all well and good bynari, but the PANR presentation isn’t half as shiny as the 88E one! Good luck!