Member Info for Desmond45

65k per year plus well over 100k in share based payments in 2017 alone just for SS, not to mention the main man Davey. For a company who haven’t produced a bean and have wasted tens of millions of shareholder funds - Seems reasonable given the share price action over that period?? Defending a shocking board who have delivered nothing is hyperbole in itself brommy.

Cant recall such a positive reaction to a placing on an oiler. Cascadara results likely to yield a 40-60mmcf + 1000-1500 bopd ‘beast’ according to PB. Overall we are talking 8-10k bopd from Cas, plus 1300-1600bopd from coho and the 1800bopd existing production. All for 72m mcap? Absolutely ridiculous scenes. Currently valued less than non producing companies like 88E. Can’t get my head around it. Excited to see where this goes.

Manwell - 8 code 1s? Maybe we will therefore have 8 RNS announcements tomorrow to summarise the lack of communications given by the board over the last 6 months? Lol

Don’t you know SS Mr Tarth? The guy who is on record saying we will not have all the horizons come in on the recent presentation recording? The guy we pay an extortionate amount per day out of our hard earned cash? DYOR

Islayman - Stephen Staley has already said we will NOT get all the horizons come in at Charlie-1. 480m barrels is unfortunately a sound bite and marketing tool to drum up retail interest. Anyone who thinks 480m barrels will be proved at Charlie 1 (especially after 1 vertical well) and can therefore attribute 480m x $3 a barrel value in the ground in share price terms is delusional.

Personally I don’t attribute any value to the HRZ as it stands. How can the company put a figure on the resource when it’s proven it doesn’t flow how we thought and we have no idea of the lateral extent of the formation or even where it might flow. No superhighways here. All we are getting is essentially a free data point and hoping for the best, no flow testing of the HRZ at Charlie-1, we don’t even understand the formation as it stands. PMO didn’t want anything to do with it, Let alone the fact shale plays aren’t generally deemed profitable at current oil prices, especially in the arse end of Alaska where drilling costs are extortionate. You’d have to be pretty daft to take 1-2bn barrels of resource as gospel at this moment in time. If Charlie doesn’t flow conventional oil the company is done for. It’s as simple as that imo (at least in terms of reaching the historic share prices of the last few years relative to the dilution we will face in this event). Just my opinion as a realist before I get lynched by the happy clappers. Good luck folks here’s hoping Charlie is a winner. 100 bopd - that will be the start of a sequence of unlocking our resource. If it’s another winx then we are doomed. GLA

Wtf have S&S been doing for the last 6-8 months while WN has been in the doldrums to warrant their exorbitant salaries. Haven’t even been arsed to RNS the Cali production numbers. Terrible comms and absolute **** takers.

Time to make some money. Let have a drilling schedule Davey.

I am unable to purchase with II. This is going up today

Looks like a shift in price action today, looking like this will motor upwards on IM1, VG6 and WNA2 flow tests all due in Q1. All to play for.

Cash in the bank and news of spud and schedule imminent, could see a breakout. GLA

Looks like word is getting out following PBs excellent interview. Next RNS likely to be more excellent flow rates from the upper zone of cascadara. Short term price target of 70p for me. Chinook and Royston could send this over £1. GLA

DW will do a consolidation whenever he sees fit. He doesn’t give two ****s about 30% haircut to PIs. He’s still getting paid at the end of the day...

Good bit of LinkedIn ‘research’ Brommy ;-)

2024/25? Not long then

NT to buy!

After Charlie it will then likely take 3-6 months to analyse HRZ data following the drill, probably Baker Hughes again. It’ll then probably take another 3-6 months on top to farm it out (conservative estimate) if indeed it does look promising or we can find somebody to take a punt on it. The risk around HRZ is monumental right now, our model which we spent a fortune on has proved to be a dud (remember the superhighways?) if the analysis shows HRZ to be same as over at Franklin bluffs that will be the end of our flagship project. That is why I can’t see us selling out hastily of our conventional prospects.

Provided Charlie does flow, PMO will then exercise their option of a farm out of area B for 15m which should keep us ticking over. I anticipate if all goes to plan that 2021 will see the horizontal drill at area A, a first well at area B, and the farmed out drill at Yukon.

Whichever way you look at it this race has only just begun.. if we can get off the line this time without another false start.

“ I thought the whole idea of Charlie 1 was to prove up the conventional and sell it in the ground at the going rate”

Correct in a sense. However, what price can we sell our conventional interest for after one well producing 100bopd? The answer, a lot less than we can a year later if we prove up 1000bopd in a horizontal. Which will also be less than having a handful of wells proving the spatial extent and producibility of the reservoir?

The curve is not ready to be creamed after one vertical well. Certain folk live in cloud cuckoo land with talk of 9p after Charlie 1.

History dictates cash raises are a fact of life for a non producing entity with no cash flow. Do you think if Charlie hits and we go to 2p+ we won’t raise to cover costs of drilling Yukon? Don’t recognise it if you don’t want to but I am a realist!

The thing is boom.boom. One well flowing 100bopd doesn’t entirely unlock the entire 192m barrel play and rerate the share price to 4p immediately IMO. That would give us a market cap of 285m odd and see us sailing past the value of companies like RRE who are producing like 30k bopd. Not to mention the year long wait to return for a horizontal, then another year to drill development wells and undertake an FDP. Plus the inevitable cash raises and likely consolidation along the way. A spike to 2.5p on success seems likely before retracing. Just my musings! GLA

This will hit ~45p tomorrow. Have a great day folks!