Member Info for Desmond45

moda you sold out of 88E?

Farm out of the shale within 3-6 months Jiddy? Don’t hold your breath matey

Wonder if DW will do any more interviews. Seems to be hiding behind that old mug shot at the moment and has done for years. Should really take a leaf out of Dave Bramhills book and he probably wouldn’t get slated as much.

The problem is that we lack critical information proving the thermal maturity is in the correct phase across the western and central IW leases. No 3D seismic and inversion is going to prove that. At this moment we are uninformed which regional wells are being investigated. In my opinion, the critical component is the FIB-SEM analysis on the hrz sample obtained in Charlie-1. If that too shows that the kerogen has been largely converted to bitumen, then the HRZ is doomed. Unless Dave has X-Ray scanning electron microscopy vision, how can he possibly claim that the lease 392302 falls marginally outside the fairway? Has he undertaken analysis slightly westwards of the Dalton highway? I don’t think so.

Cheers Brom. Let’s hope they make a quick decision - it’s taking the **** really after offering the tax credits to 88E in the first place.

Isdeer.

Until it flows at commercial volumes, there is a risk. Geology is not black and white, each well carries its own characteristics which may inhibit flow. I have seen many bankers turn into dusters. It’s all part of the exploration game. Look at the likes of Puntland with RMP, Winx with 88E. Didn’t mean to come across as disingenuous, I’m heavily invested in WN, but don’t spend the winnings until its been announced :-)

HRZ deal complete in H2? Now that really would be a rabbit out of the hat scenario, and perhaps catch a few people with their trousers down. Extremely unlikely though, what’s the chances of someone stumping up 20m+ for a horizontal test well when we don’t even know where to drill. We only just managed 23m for a conventional well FO with an historically proven 50% oil saturation.

Is it the absolutely final decision over tax creds on Thursday? Seems there’s an appeal or a 2-3 month delay between each update.

Hi Ninetails, in response to your question - yes there is a chance that the well will not flow at commercial rates. Of course, UJO is cashed up for now, but prudent management will raise off the back off good news such as the revised CPR. Cash is king in the O&G game.

The CPR will be issued prior to the results of the EWT. It’s a great opportunity to raise the SP with a new improved NPV valuation of the project, which will probably be followed by a CR (Nothing wrong with raising at a substantial premium to prior fundraisers imo). This will likely fund a forward work program including the drilling and testing of two further permitted wells on the license or alternatively Wressle/Biscathorpe in the event that WN doesn’t flow commercially, which is a (hopefully low) possibility. Prudent management to mitigate risk going forward.

Let’s hope Erik and the gang dredge a nice clear pathway which we can utilise when the time comes.

Perhaps then the share price wouldn’t be 0.77p :))

That’s all well and good rfarfa. Glad to hear it. But would you let a surgeon do life saving open heart surgery on you who studied at the university of life instead of medical school? Sometimes you have to get the right people with the right knowledge to get the right results. Unfortunately PB was that guy (god bless him) and we have now replaced him with DWs old mate from Woodside. DW is creaming the curve nicely though, he will have made another A$200k by the time the drillbit touches down for Charlie.

Too far in the red to sell Jiddy, have too large a holding to take a such a hit. Sold a few a while back around 1p and upped my stake in RBD instead, turned out to be a wise move since we’ve spiralled further. Good thing about RBD is they picked up a few smaller projects which can and have been turned into cash quickly to fuel other projects. In addition to this all CRs have been at a premium to previous ones, same as Cove energy did. All we do is buy acreage and put the cap out with no money to drill our own wells, drilling 1 duster a year while Dave laps it up. Literally cash raising to serve debt and keep the lights on. Go back and look at the expense figures relating to winx and RMP, they were pretty eye watering and affirmed that management is taking the **** with the likes of Greg bandy and co IMO. Don’t get mad because people have contrarian opinions to you. Remember insanity is doing the same thing over and over and expecting different results. We’ve been doing it for 5 years odd now, time for change amigo. Maybe our new chap with a few years of petrel will suddenly crack the HRZ?

Haha, I’m entitled to my opinion. I’m actually more qualified than him in certain aspects including at degree level, but that’s irrelevant - I’m not here to blow any trumpets. I’m personally not impressed by a few years of Petrel experience and some sales roles, although it seems most on here are. What is relevant is the declining SP, languishing cash balance and imminent CR. It’s relevant how DW needs to turn this ship around and get 75% odd of holders out of the red. Everyone going mad because someone bought 13.8m shares a few days ago, well they are thousands in the red already!
Things I would like answers to - Are we going to be in the dark about the IW2 fairway until February, and which regional wells we are analysing in the meantime?
‘Conversations’ started 3-4 months ago about ‘monetising’ Yukon - what stage are we at? What type of deal are we aiming for? Is this going to be silence until 2021?
At this moment in time we are essentially in hibernation until Feb- likely March until results. If it’s a failure then it’s lights out. Someone will come in and take the HRZ off us or we’ll be diluted to oblivion. **** situation either way. The drill will take place come feb either way, and Il be voting to give Dave (400k) per year another strike come the AGM.

If a football team gives its manager multi millions of pounds for players, with the manager claiming transformation, and then finishes bottom of the league, the manager gets the sack.

Hardly a sterling CV wonder what exorbitant salary we will be paying for the privilege. Looks like one of Daves old mates from woodside. Let’s hope PMO bring some premium expertise to the table during Charlie-1.

Hey Brom,

Since Yukon is so close to infrastructure and seemingly not technically marooned, can you estimate the dry hole cost of the well including ice roads, and translate that into how many shares we need to issue at a very optimistic placing price of 1p to be able to afford to drill it, also incorporating the 16 months of salaries you calculated earlier until spud in 2021?

Also, do you genuinely think the HRZ will be farmed out in the second half of this year as stated on the presentation, despite an integral part of revising the fairway requiring hrz core sample from Charlie-1 and then subsequent FIB-SEM analysis?

Also how can the presentation still state that project Icewine has successfully captured the super critical oil phase, when Baker Hughes analysis has stated that kerogen has been converted largely to bitumen prohibiting flow in our maiden well, and we now do not know where the revised fairway is?

interested to hear thoughts.

“The Miocene Badenian age carbonate build up play is proven by gas discoveries to the East. Either one of, both of, or none of the deeper upside exploration plays may be present.”

Why would there be a trading halt if the deeper basement targets which aren’t even part of the original CPR resource evaluation figures came up empty?

I think we’ve clocked a little something in the basement play. Either that or perhaps a major over pressured gas reservoir sitting above it where the old well blew out. Talk of ‘uncontrolled gas flow’ in the historic well. GL

1.4p a share to buy in to one of the largest onshore UK hydrocarbon discoveries in years. Bargain. When the CPR is revised to reflect 45m oil column and flow tests confirming commerciality this is going to explode. DB interview out and he’s grinning like a Cheshire Cat. Good to drop onto an oiler that isn’t a dog share for once.

#WallOut