Member Info for Drewky

P0 I know you refer to my optimism but I have always believed we will get the big prize and I still do. I never in a million years thought it would get this low and I am taking advantage of it by moving stuff around because it would not only be rude, but silly not to take advantage. I've been buying all the way down and will do so as and when I can.

Rxdav you really open yourself up wide! You ask whether Haggis believes in Father Christmas and then you buy in this morning again at 2p when you think it's going down to 1p how daft is that? With thinking like that no wonder you lose money, or was it done or just said, so you can justify your continuous moaning?

I think your behavior today alone justifes a prime example of fickleness.

Don't worry Haggis the white flag has gone up for half of this lot. Who needs shorters and traders when this bunch of LTHs talk it down for them. How ridiculous to bash your own holdings. Sheer stupidity in my view

Fickle is the exact word for it and it's apt for more than half of the people who post on here.

It goes up a fraction and they're buzzing, it goes down a fraction and its, lets sell up and cut our throats, its everybody else's fault but mine.

The reason this country is in such a mess is because nobody can think of anything beyond short term. It seems to be engrained in the UK mentality! Crazy!!! :0((

Just to say further imo the state of the sp right now is more down to the fickle nature of the market than the true value of the assets.

We are this morning at a lower price than we were before we found 1.87tcf for which we now have a planned fully funded route to market on a free ride. Explain that one if you can because I can't!

I don't feel there is much danger of this not going through VK I think the majority of people realise this is the best option for us, even if not perhaps the best deal that might have been hoped for. I think the biggest thing that has angered people is the rises in salary on the back of a bad year for the sp and in any share that would cause reaction.

Hi VK No they can't and the EGM is expected to be held in September

Interesting coincidence? That this group arrived home on the day of our AGM and it was said the deal was concluded in the early hours.

Good points BG and Jay does expect a boomer but as Pete said it's all hypothetical and we'll have see what comes out in the wash. I think we will know by Christmas maybe January

I don't have an issue with that Pete the reason for my calcs were to show that we were doing the right thing pushing us toward profit. The timing of everything will ultimately decide how it plays out and as we know the umpires decision is final lol. Goodnight all

Stoney we've not seen eye to eye in the past but that's an excellent bit of work and must have took a fair while to research. Certainly makes interesting reading. Will look closer on big screen tomorrow. Well done.

Hypothetical answer 1 I don't think we are talking same language on the figures. You don't see the point I'm making so I can't answer in a way that would make you happy. 2. Of course spending the full amount for 140MMcf/d would shift the sp much higher. However to get there the 40MMcf/d would kick in payments first and that will also push the sp. You may say to get to 40 costs 60 but that includes the seismic for the next stage and that shouldn't be needed to reach the 40 as Jay expects that to be exceeded at CH1 I just see the extra spend on seismics is worthwhile to further the development. As I said in first post whether we get cash or carry equivalent long term I hope and expect to spend much more than 40 to maximize the assets.

Dunder the TPDC do have the rights but to put that into the calcs for demonstration purposes would have been a nightmare. So far they haven't taken up their entitlement in the past but their last law change did state they should. Anyway the amounts at this stage are an unknown element but of course would effect my calcs if their options are taken up

Did the umpire mean Game On? :0))

You damned right it is Pete. Pete's way or no way! At the end of day we get money coming no matter how you want to wrap it up in words. I don't much care which way it comes, the fact is it's coming and that's all that matters :0))

The unspent carry is paid from 1/4 share of gas profits APT make. Does gas not come out of the ground anymore then lol

let's leave it :0))

It's all a matter of how you look at it Pete. It's cash coming in that we wouldn't have had.

Your second point I did cover in my first post on the matter because I think it is inevitable we will spend more than the $40m in the long term but tbh I think we will start to receive after reaching the 40MMcf/d before that time comes.

One way or another I see us on the way to profitability now and we have a much better chance of a decent future and I would do the same for the other areas too if it were the best option.

Like you say can go no further with this. Catch you soon

Mather the difference from 8 to 12" pipe is not shown here but from my reading when going up from a 6" to 8" gives approximately double capacity. The length of the pipeline also has an effect. I've seen the figures we need somewhere but haven't got the original link so perhaps this will help https://www.engineeringtoolbox.com/natural-gas-pipe-sizing-d_826.html

PS Pete on a $40 spend when we had earned the $80m Solo would have only received $50m The Zubs $75m

60 spend the figure would be 65 - 40 - 60

120 spend the figure would be 20 - 10 - 15

140 spend the figure would be 5 - 0 - 0

OG & Pete I disagree with you both....

Firstly OG the more the Zubs spend the less we will get and the longer it will take to get decent profits

The sums I did were on $40m cost basis to reach 40MMcf/d and the Zubs would have to churn out $200m gas profit to pay us back $25m via their 1/4 share of that profit. In this case our profit would be $80m

I've seen that with Seismic, that cost could be $60m to reach the 40MMcf/d so the Zubs would have to churn out $160m gas profit to pay us back $20m via their 1/4 share of that profit. In this case our profit would be $65m

If that cost went as high as $120 to reach the 40MMcf/d so the Zubs would have to churn out Just $40m gas profit to pay us back $5m via their 1/4 share of that profit. In this case our profit would be $20m

If that full amount was spent as you suggest $140 to reach the 40MMcf/d the Zubs wouldn't have to produce any gas profit at all. In this case our profit would be $5m which came from the initial two tranches.

So if that doesn't convince you the quicker and cheaper we get to be producing 40MMcf/d the better then I don't know what will!

Pete on the profit front, although I see where you are coming from, I fundamentally disagree because quite simply anything profitable that we get out of the ground is in fact profitable. Yes it may well be that it is at a lower rate than if we had done it ourselves, but you know as well as I do the company were not in the position to do a full field development off their own back and you said it yourself many times that we would have to farm out to achieve it! So of course it is profit because without doing it this way, then a profit would be a sometime never situation for sure. As Jay said drill and raise drill and raise would get us nowhere very slowly.

So combining my two points, I feel I've shown the best option for us is to hit that 40MMcf/d as quickly and cheaply as possible! If I can't get you guys to accept that then I'll not argue as that's the best proof I can show you and Jay as said, felt I was broadly correct