Member Info for Desmond45

One almighty bounce on the way

Investor presentation also pretty much confirms that there will be a cash raise. Don’t shoot the messenger. GL

The retrace was always going to happen.. don’t get why everyone is flapping, results will speak for themselves when the time comes. McNumbnuts (McNimby) called me out when I posted this in july

24 Jul 2019 16:39
Was a good time dump following the Biscathorpe RNS, and will be a good time to buy back in when this retraces to <0.20 over the next few weeks

“With VG-4 now on unconstrained flow and the two Burnett wells coming into production, we expect to see a sharp increase in production in the near term, with additional drilling to follow.“

Not only that, Throw in the VG5 well which is being drilled in Q4, and IM1 in Romania which should be on production over next 11 weeks (From ADX presentation). Plenty of cash generating assets with running room. Follow on wells IM2, IM3.. VG6?.. WN-B.. Colter etc. This has a lot of organic growth left in the tank. I was slightly concerned over the lack of flow rates published to date from Cali but following that interim it’s time for a top up. Cheers

“With all that is going on at RBD, including smart use of a well funded balance sheet to step in when needed at short term, I consider the company to be looking very strong in the coming months with significant upside.”

From Malcys Blog

Ominous drop. Bad news tomorrow based on past form. I’m outta here

Not point scoring Brom - simply pointing out what I believe was false information from boom.boom who labelled the well as low risk. There are many naive investors who may be reading these threads and overexpose themselves when the resident posters all begin believing each others hype expressing wells as nailed on etc. Regarding winx, I did not explicitly state that dispersed clay would be the reason that the well would not flow, however I pointed out that despite being part of the nanushuk trend the location was at the very proximal extent of the topset sequence (Unlike the OSH acreage and corresponding gushers which were part of the sand prone coastal plain and shallow marine shelf facies. The further away we drill the greater the likelihood of mixed lithologies and less 'clean' sands which ultimately was the case with our clay inhibiting flow. Although, Of course, its easy to get caught up during all the excitement - which I did, especially when Dave and Bandy dropped the 'comparable with other nanushuk discoveries and within the range of commerciality'.

Anyhow the Torok comprises muddy slope apron fans and sandy turbidites. Its very possible we may just get our reward in these turbidite channels providing the reservoir quality is there, but as i previously mentioned its definitely not low risk. Probably around ~30-35% CoS at a push. Alas i will continue to post for the sake of balance and healthy contrarian debate. Also, this bb is not my place of work Brom, I don't send my posts through a technical and commercial review, I'm often posting from my mobile.

Great news. Would've liked some flow rates though.

Oil saturation stated as up to 50% in the shallower schrader with 18% porosity (reasonable) but with key risks related to water salinity used during petrophysics impacting oil saturation calcs.

Seebee, up to 60% oil saturation, but average porosity of 11% (poor). High risk associated with reservoir quality.

Torok no mentions of oil saturation in lower, no percentage quantification in middle and upper. Resistivity logs look average. Possibly not clean enough to flow (e.g winx) Turbidites are a tricky game. Not flow tested to date (PMO stated because it 'wasnt what they were looking for'. Yet you state due to mechanical issues which was actually the reason why limited core was obtained.

I'm invested and happy to take a punt on this, but it certainly isn't low risk. For the record I am a chartered geologist.

Oil shows UP to 50% in tight sandstones were encountered in malguk-1, 1.5km away and never flow tested. Does that make this well low risk? Can you call it low risk when we haven’t received an informed CoS from big Dave?

Answers on a postcard.

Erm... low risk?

Jiddy, My mistake, PMO took 60% with BEX having the other 10%, either way we are left with 30%. Let me know how many years it’ll be before you anticipate 88E share price being 33p LOL. Keep taking the tablets!!

Listen here Jiddy. This share will NEVER reach 33p. You’d be talking a 2.3 billion quid market cap, for a junior explorer with no intention of becoming a producer?. Over three times the size of premier oil who have just come and taken 70% of our asset for 23m dollars. How many wells would need to be drilled as part of a field development? How many for HRZ? And since we drill on average 1 well per year, what about the costs of ticking everything else over? How much dilution involved along the way to finance it? Absolute pie in the sky predictions leading naive investors down the garden path. Get a god damn grip.

For the record I topped up today. But il be happy T 3.3p never mind 33p.
Jeez

Just topped up. 0.65 bargain basement prices.

Sadly I believe this is going south until China deal is announced

Could be worse... could be Thomas cook

Can’t be too far off your bottom Spiney, we are within 0.37 of the lowest ever SP recorded and I highly doubt you timed it that well to invest on the day. Who cares anyways, have a good weekend!

Very proactive Spiney, selling at the bottom, good strategy

Great post Spiney, and yet we are down again. oh well there's always next week or the week after.

If I read above, below, and between the lines, will it increase the SP?