Member Info for DRB83

10p rather optimistic by Jan but certainly 6p on the favourable sentiment we'll have should the sidetrack land

The hot news is

The side track is expected to be spudded around 20th October with drilling operations expected to have a duration of no more than 35 days excluding well clean up and completion work. Simultaneous operations are permitted but we have allowed for two twelve-hour shut-in periods during this period to undertake critical works and enable certain equipment to be moved on site.

24 hours combined shut in required as precautionary. Not 2 months. Big difference and huge news.

Obviously the 'up to 12mscf' comment refers to the sidetrack being successful but it does look like it's more of a case of when and not if for the 2nd compressor so 7-8mscf it's certainly doable in the near future.

Great news. Also looking to crank up to 6 in October which looks like full capacity of the compressor but again great news and this delivers some unhedged receipts.

It's going in the right direction and so is the SP now.

You learn something new every day. India is indeed classed as Asia-Pacific although it does boarder the Middle East.

Not sure on the UK entry Kaeren. We can only go with what they tell us. Maybe we serviced a couple of machines in the UK hence the £1k revenue.

Kaeren,

I may be wrong but Asia Pacific is China, Japan, basically the Far east as it connects with the Pacific Ocean.

Middle East is India, ****stan, Saudi Arabia etc

Note 16

Wilson, the payment to GM is under note 16.

Clark, missed your original question about tips. I've dabbled in trading but not really any good at it so just stick with swings and long term. Going long on O&G at the minute as a kind of hedge against high energy bills from October. I called JDW struggling about 18 months ago but I don't do shorting. Wish I had on several of my longs mind.

I look forward to the results when they do come so i can finally see if my expectations are inline or not.

I don't think he included revenue full stop.

Not really, are you saying that the Irish present you with a huge Cheshire cat style smile as they walk away with your watch and wallet. I wasn't aware.

Nice to see JM's huge smile in the photo. Can someone tell him we've dropped 90% not gone up 90%. Please remind him that revenue has dropped from £4m every 6 days to now £4m in 6 months.

I don't know where DA's hands are in JM's photo but nothing about Ncyt's presentation warrants that kind of smile. Is he taking the proverbial.

Byp, It's the same comment from the Primer Design accounts a month or so ago. What I don't quite understand is 'why would they need to pay the full value of the claim'. That's £135m. We haven't even received £135m so that but does not make sense to me.

HC, yes the £8m has been paid in H1. The payment was effectively off set by a reduction in stock and debtors.

Wilson, it's under note 5.

They didn't sell one machine in the UK in H1. Interestingly zero to Middle East. I'd put India in that category so it's safe to say the Tata relationship fell flat on its arse. Not convinced at all.

Seems as though IT-IS sold about 90 machines in the last 182 days. So our sales teams are selling a machine every other day. This is a machine being backed by Tata MD. Not convinced. This selling rate is also set to reduce further in H2. So maybe we'll sell a machine every 3 or 4 days. Sounds like we're taking great leaps forward DA.

Not seen anyone mention that GM and AD got a nice £8m lump payment from Ncyt in H1. Shame they didn't think to contest it until the dispute was resolved.

Having said that, if Ncyt are 100% convinced that they have done nothing wrong then it would be a little unfair to withhold it from them.

Clark

Yeah short trading makes sense.

How to completely destroy a £300m company with £100m cash in bank in 12 months, By David Almond

I'd read the book but I've kind of lived it so.......

BH, I believe you're referring to the statement regarding the discontinuation of Lab21 and Microgen and not Primer Design or have I missed something. I don't think I have.

Ukraine will want lots of steel to rebuild it's economy and infrastructure in the coming years. Most will probably come one way or the other from China. Russia will need to build a new legion of tanks ready for the next annexation of a sovereign nation. China will most likely supply Russia with those tens of thousands of tanks and trucks ect.

The world population is growing. It will never go backwards. The number of houses, cars, gardens etc will grow. Steel will be needed because it's a fundamental material.

Populations such as India and the middle East will modernise and tomorrows third world will look like today's second.

All this will require iron ore. We have some of the best grade iron ore in the world. We also have possibly 300m tonnes of it between Han****, Brockman and Vivash.

Yes we'll have to ride out a few troughs with the price but there will be peaks and none of this matters if we get a favourable hedge.

For all those that have been investing or watching UFO over the last few years. The next 12 months is set to be the most exciting in UFO's history. I'm in and acquired more today.

Personally, I think the sidetrack should already be funded with all new cash going towards getting us debt free by end of Q1.

A nice cash flow forecast from GL would be nice but I know it won't happen. That's too much information for the market.