Member Info for Dibs61

I'm taking the view that creditors are not asking IPSA to pay back debt currently and that there will not need to be a placing. IPSA are probably not doing a bad job in managing expectations and being upfront about the situation. As regards to IRIS, anyone who has ever tried to sell a house before knows how much purchasers can sod around before they finally sign on the dotted line and take the keys! No panic. ;-) And probably a damned good buying opportunity!

This is the immediate outlook:  Ongoing development of current portfolio of assets: i. Application for Exploration Licence over Clare Basin, Ireland; potentially v.large Shale Gas deposits ii. Garden Hill Newfoundland field production; objective to achieve stable production of up to 500bopd iii. Development of 3/23 Block North Sea, UKCS - gain seismic and drill within 2 years iv. Development of 22/12b, UKCS; just agreed 50% farm out to Azimuth to carry out development v. Ratification of Dead Sea and Wadi Araba PSA, Jordan - ENEG 5% interest in block with KGEC vi. Initial assessment of Dead Sea and Wadi Araba Block; vii. Recommencement of operations on EL1070; SPE to drill sidetrack by June 2013 viii. If above successful, application for SDL on EL1070; ix. Completion of sub-surface model and development of exploration plan for EL1116;  Further expansion of the Company’s portfolio;  Portfolio expansion to include additional production project(s);  Update of Corporate structure

Enegi have moved swiftly to achieve two farm outs of licences only awarded last October. Within four months of award! Not bad progress in my book. This derisks their portfolio and achieves a minimum capital outlay for the possibility of a significant return. A sensible way to try to progress for a relatively small oil junior.

All sells soaked up and we are starting to see an upwards trend now with nice buying interest seen. Looking forward to next few weeks should be VERY interesting.

I agree with your sentiments. This is clearly not without risk of course. However, this could be a bit of sabre rattling to force Iris' hand a bit. Maybe they are a little sluggish in doing their business? I believe the sale of the turbines will be completed one way or another. Despite what appears some worrying comments about 'tight working capital' this is, I believe, mitigated by the reassurance that the creditors are not playing hard ball with IPSA and are comfortable in waiting for a deal to be concluded as they clearly see that as the most sensible strategy for trying to recover 100% of the debts owed to them. If there is a placing so be it but I see no reason to panic and am HOLDING until what I believe, with a little more patience, will be a very respectable return. Oh and btw IF there is a placing I do not believe it will be catastrophic. There are only 107.5m shares in issue currently, hardly a huge amount!

That the bulls are starting to overcome the bears. Flurries of sells and retraces becoming weaker and more short lived. Not deterring bigger buyers. Would be a good entry point.

And board as dead as a dodo LOL. Still I expect it will be sold down again so not getting excited. There is LOTS of news to come though not least with GHS re bringing the well back into production plus other news on licences. Remember this is priced currently as a very junior explorer but they have a PRODUCTION asset which we are expecting news on which could chuck out up to 500bopd.

Before the fun starts.

Atu027 - is the BIG one and we should have final data results from the Phase I Trials by mid this year - can't wait! Hopefully if the results are sufficently good SLN can take this to a big Pharma and partner up in an extended Pase II Trial - this has to be the hope. We must remember that this treatment would be a mammoth step forward in terms of slowing or stopping the spread of secondary tumours which are the real killers in cancer. In the meantime we are also awaiting news on PF655 (Pfizer) and QPI 1002 (Novartis) for which we would be due to receive milestone payments should they pass Phase II into Phase III. So lots to look forward to here but nothing happens quickly in this particular sector so patience is key.

So Synety has now announced full integration with Microsoft CRM application, one of the industries leading players. Very good news and another step in the right direction. Director buys late last year.

Ruing the fact I don't have any spare funds currently to do the same. Best day on here for a while today. Are we starting to shift upwards again, certainly some nice buys going through....

Clearly it is very good for shareholders for them to minimise dilution and the number of shares in issue. Notwithstanding that you want to see the company making progress but I think we are here and need to be patient as things are hopefully coming together over time. A nice portfolio of attractive assets spread widely but most important to get the producing asset going! BTW you gotta laugh with the 'sell on news' brigade.... Clearly this news leaked last week which led to the SP rise and the last of the traders for that exited today no doubt. Doesn't affect the fundamentals here though. This one IMHO is undervalued but needs the producing asset to underpin that view in the market.

SIG9 - Well as you can see from the RNS the farm out means that there is not capital outlay to ENEG for the initial development of the licence which is very good news all round. It's a sound, sensible, prudent deal for the company with a good partner that derisks the prospect to a degree. Never any guarantee with an AIM tiddler of no share issues as every company needs cash flow to survive but IMHO it is an indication of good management that they are keeping placings to an absolute minimum. If they can get production going again in Newfoundland that reduces the risk even further and hopefully we will get news on this soon.

When you get a pick up in volume there is always likely to be speculation that some news is leaking or a rumour of news is doing the rounds. It's only natural. No, we don't know, it is just opinion but it spices up life on here a bit! FWIW there really is a lot of news due on this company in the next few weeks/months and IMHO it has some potential.

Great start this morning... :-)

My solution to this issue is to hedge my bets and put a stake in both SCLP and SLN! I don't want to miss out on either. Both different technologies of course but I like the fact that SLN has some big hitters backing it and a world class team.

This company is valued modestly as a very junior oil exploration company at a mere £14m. Very soon Enegi could have a producing asset which would catapult them away from the current market perception. In the near term there is distinct prospect of resolving technical issues with producing at their Garden Hill field asset well ST3 in Newfoundland. Could potentially produce at over 300bopd. That, on its own, would blow away the current MC. At the recent AGM it was stated management are considering the installation of a pump to get the well going again. But that isn't even half the story. The company now have an attractive portfolio of prospects which suggests a regular and potentially exciting news flow this year. Enegi is an independent oil and gas company. Current operations are focused on opportunities around the Port au Port Peninsula in Newfoundland, Canada, the Clare Basin in County Clare, Ireland and the North Sea, UK. The group’s working interests in Newfoundland are held through its principal operating subsidiary, Enegi Oil Inc (formally called PDI Production Inc or PDIP), and consist of an onshore petroleum lease, PL2002-01(A), and two offshore exploration licenses, EL1070 and EL1116. Our working interest in Ireland is held through an onshore petroleum licensing option, ON11/1. Enegi’s interests in the UKCS consists of two blocks, Block 22/12b containing the Phoenix Discovery and Block 3/23a containing the Malvolio Prospect. Enegi also has a strategic partnership with ABTechnology with the aim of leveraging relatively low cost buoy technology to unlock value in offshore hydrocarbon assets that are considered marginal and sub-economic based on the application of conventional development methods. In addition Enegi has recently entered into a Heads of Terms with Korea Global Energy Corporation ("KGEC") under which it will be issued with 5% interest in the Dead Sea / WadiAraba Block in Jordan. Lots more news to come on that no doubt.

About to go? Buying pretty relentless.

It could be a whole host of things but fundamentally news on Garden Hill would be most welcome short term for me. This is about pounds shillings and pence and if they can get the production issues resolved there and resume a decent flow rate the SP is going to race up. I maintain this SP is way way undervalued on all aspects.

Hmmm leaky leaky....