Member Info for djm1

Thank you but why have the numbers declined ? Do the rigs have to be working the well continously to maintain production?

One thing not mentioned by anyone were the poor results at Norio and Satskaneshi in the RNS, a combined output of 26 bopd. It was part of the mantra that these wells kept the lights on at 60bopd a day and the workover rig was at these locations gradually increasing those numbers. We were waiting for updates on these but things moved on; they slipped under the radar which i feel was not an accident. Lets hope for better more honest communications going forward.

Formulating an RNS that will pass aim scrutineers.......what can be inferred from that? LB28 ??? The only thing that can be inferred is the company realises what an all mighty balls up the RNS was after weeks of feeding expectations. That an explanation is due and that they are taking flak from all sides in the form of emails from disgruntled investors and a damage limitation exercise is in motion. That's what i inferred anyway. But that's my opinion and as the share price is down today my opinion seems to chime with the wider market, or are they all just derampers as well.

The only person who can answer any questions is PH via an RNS, everything else is opinion and conjecture. The only arbiter of the value of the company is the market and the market thinks this is a bit crap right now. 10p today you said? RNS tomorrow you said? Pis are thick you said?

Who said 10p today?????? Same fool saying RNS tomorrow...... Should be 20p by now!!! RNS anyday saying a million barrels a week and Paul is gonna buy us all a lollipop!! Blah Blah vomit vomit. Yes this board is full of devious evil de rampers who are also responsible for global warming and the plague. Some here have no shame at all.

Are you on drugs? A deramping campaign!!! This board is full of rampers who talk incessantly of how fantastic the future will be here and dismiss anyone who asks sensible questions with insults and you think there is a deramping campaign!! Block have screwed the share price all by themselves and PH has created a situation where people think he might be a complete liar but are too polite to say so, but of course its just all down to nasty trolls on here. Incredible!!!

Thanks

Sea 7 , PH stated at these flow rates the well was unstable and the well wanted to flow higher naturally, admittedly when the well first started flowing but it is a contradiction.

Up until recently PH was talking this up at 800-1000 ( i believe at the presentation evening) and others, can the well have actually dropped off that much in such a short space of time? Does not make sense. Secondly if the well was not that great prior to these interviews, why did PH carry on with the narrative? Why would other members of the board let him? You know you're going to get caught so why do it, its not the behaviour of professional rational or intelligent people. If this guy has been bull****ting what's the sanction that can be brought to bare on him. I'm surprised by how many on here believe this is just the clean up phase issue and that the company have nothing to answer for.

yes massive money being spent

SEA 7 so how long do you expect this clean up phase to last? Can it actually be implied that there is now a solution to the gas take off / flaring issue? Does this mean that previous comments from PH about opening and closing the well to produce previously were not in fact really true at all, otherwise surely the well would have been cleaning up already. The lack of clarity from PH is in my view deliberate as he is playing for time for whatever reason.

Pp10 I hope you are right because after the recent charm offensive in the media where flow rates of 800 to 1000bpd were referenced as a direct response to questions ( within the last two weeks if I'm not mistaken ) the RNS is baffling to me anyway. 20% down in one day won't be appreciated. An explanation is owed to investors.

This is a serious PR disaster that casts serious doubt on PHs judgement, whatever the fundamentals. 20percent down. A month ago it was 75p by the end of the year now it's 15 to 20p. You're comment that you feel sorry for those who bought at 14p was spot on. It's ok to ramp but not to question anything. Dogs abuse for ding so. Lots here convinced this is just temporary. Well what if its not? Will it actually get past 700bpd? Why if its been producing since first test is it still cleaning up. Ph said that was what they were doing when forced to answer the question by emails to the company. He also stated the well was unstable at these low levels as Parkez pointed out. Which ever way you look at it PH has hyped this so he created am expectation which he hasnt delivered on. The production update is still well overdue...by PH own guidance. Not clever.

Mike im flabbergasted you have the front to ask questions on here. I'm amazed this isn't 20p by now. Really I am. But it's ok if you hold forever you will see your money back. If your not holding forever how dare you even by this share.

you find other people's pain amusing? This is a PR mess, PH has allowed Ego to get the better of him whilst in interview rather than make it clear that there will be a gradual ramping of production. Perception matters.

they have been producing from this well on and off for a lot longer than 3 weeks!

there is no question in my mind that PH was intimating flow rates far higher than this, this is a serious balls up by PH. Best well in Georgia in 50 years? Really? This has been flowing on and off for a long while now so to have been talking 800-1000 in recent interviews and then announce this is a disgrace. 8-10,000 barrels a day PH said, well at this flow rate that will take 24 wells..... we have drilled one and still have not started on the next! 20p next week Big Bench?? Even Mirabaud must be thinking WTF! 35p based on 1200 bbls a day they were talking about so where has 325 come from? Disgraceful

Flow rates were repeatedly hinted at in interviews between 800-1000.

Sea7 ph suggested it was an issue of having had a better offer re the gas and indeed a situation that is tied in to all the wells going forward. One solution that covers all wells going forward. Which basically means that w38 can't really be spudded until the deal is resolved. I believe the gas situation is material to Georgia as a country so i dont believe it will be allowed to drag on indefinitely.

Fast Money, don't waste your breath with AJW, he sees and hears things, he is convinced there is a gang of bashers/derampers/zombies on here and we have the power to drive down the share price. Which when you think about it doesn't really do his credibility much good for all the factual posting. But it is an admission that he believes that bulletin boards do influence investors which means that a balanced view on here is imperative. Lots on here saying its going to be 20p next week and a fiver the week after etc are far more guilty of trying to influence the share price than anyone who sits and asks simple questions. You can hold and ask pertinent questions about a company and its actions, its your money and frankly the CEOs and officers of a company should have a skin thick enough to answer tough questions, its why they get the big bucks. Also it helps to keep them honest. Failing to do so is sycophancy. yet its these people on here who squeal the loudest when you ask a pertinent question or raise a point of discussion. In that light you have to wonder just how secure some of them actually feel?
Miton dumping to meet obligations is unfortunate at this time but you could argue that were they dumping on news they would probably have to dump less stock to meet their obligations. Either way news is overdue now and no news is always bad news for a share price on aim. When its overdue because of guidance from the CEO then its bad for credibility and trust. A ten percent drop in one day isn't good news anywhere, anytime. Lets hope for news soon because this is damaging the company's credibility in a fickle unforgiving market place and i do feel let down by the failure to do what they said they would do.