Member Info for Dulwichman

Prod
You always reply with what I expect! hence neither of us can be accused of ramping! Know what I mean

Mr Mole

Love your last line so will agree to agree on the rest and move on to my 2000 appoint with a friend ( I mean bottle) or do I mean both! GLA

prod
Given that BP have just completed their purchase of BHP assets in the US for $10.5 Billion without the need to go to market as was expected thanks to the very good quarterly results and the other big boys I would think will have equally good results mainly thanks to the POO . I am rather thinking that the next set of quarterlies will about equally as good. They all run quite a tight ship still I reckon that this makes the lining up of the ducks look a bit better than say 6 months ago. My question is really does a company like bp have the capacity to get involved with us at the moment? might be a daft quaestion

Timster one word LAWYERS but as you say could be tomorrow

reg
many thanks

Free
If you are right about a 10 well campaign for 2019 ( Not saying you are wrong) with BH on board is this a conservative number ?

Whilst things seem to be moving forward in a very positive way if not surrounded by quite a lot of unknowns. What we can say for sure is that what zaza says either directly or if you are lucky enough to attend a share holder meeting indirectly. There appears to be a clear direction of travel and is basically stated by the Company.
1) The gas is too big for them to handle.
2) IF possible they desire to have around a 250 well campaign with the Company involved directly as much as possible
3) when the above is achieved move on to Moldovia.

Things are looking better than they have done for many a year and many including have have quite a lot of confidence in the Company despite many ups and downs hence such a large number of long term holders.

So what next for somebody like zaza who is relatively young what are his ambitions and perhaps wishes.

Well he is certainly ambitious he also is a trader having been a metals trader and of course he originally trained in the medical field. . So what does this add up to? To me this would suggest Politics! He obviously cares about his Country as can be seen by the small amount of social responsibility stuff the Company does ( they do not have that much spare cash) The Country itself is in transition but is leaning more and more towards the west. Thanks to SN he will have gained a huge amount of International contacts and all that goes with it. Uncle Sam has the largest diplomatic presence certainly in the regional area and may be wider ( Can't remember exactly) Add in a few more things which are to long to go into and to me it all adds up BUT only if he can make this Company very successful for if very successful he will be come a home grown nation hero and just as important his personal wealth ( It is very expensive to go through all the hoops to lets say go for the presidency)
If I am right and of course I could be very wrong he will work his socks off to make this Company work and we of course benefit along the way. A wild guess you may say and I would not argue against you but I will ask him over a drink at the next meeting what his interests in his own country and it's future at the next meeting. Personally I have found him very open - He went into great detail into how he gained his wealth when I asked him and it certainly not the normal path to be come a full blown metals trader but in short -start small, don't ask! -build up a stake- focus and learn from the big boys- join the big boys make some money- move onto something else.

Just killing time in this post but given his drive and ambition if looks well for the Company even if I am wrong! Forgot he has a very good mentor in SN

I am not convinced that Brexit issues will have any effect on BP - it is very much the multinational - If there is to be any effect at all it will be IF the pound falls against the dollar and that will only benefit those who receive dividends in sterling

Hi Blue
Thanks for the post on BH.
I seem to remember from the last shareholder meeting that now they have the knowledge base they are able to use a less complicated drill rig thus reducing costs again on further drills.
Given the commentary on the improved tech capabilities that BH are stating both in accuracy of drills and also the speed of drilling this has to a real boost to us. In technical terms this is really for others to comment as they will know more in there little finger than I can gains in months of study so could a tech person give an opinion?

I simply come from a lower cost and increased speed of drilling which in my view just adds to the positive view I hold.

I would add that somebody posted earlier to day that BH now publish their rig count and where they are. I can only hope they have some spare rigs as it seems there business is picking up and of course we will be able track this. More importantly so will others who may decide to invest.

Thanks

Whilst many try to work out what exactly this deal with BH is ie the details etc which we may never know. Those who do not think this tie up with BH is negative because we have worked with them before so nothing new had better think again. It is not just what has been put down on paper that is important it is that BH will know the short/medium and I suspect long term ambitions of the Company. We have had so many clues from Zaza ( and we must allow some commercial sensitivity especially given the asset size) To me the key is that BH can work with us and will be agreeing the ambitions of the Company based upon all the previous dealings with us.
I have seen too many so called good tie ups eventually fail due to the two sets of management seeing the way forward differently. You simply can not put this knowledge base down of paper it has to be learnt and the learning in my view has already been done so this is mega positive to me.
BH must have a very positive view to be bothered with what on paper is a tiddler even though the possible asset base is massive - Something is cooking otherwise why has their not been a hostile takeover? It has been tried once and failed but that was some time ago and things have changed.

It seems to be often forgotten that the Company is titled an exploration and production Company and what has Zaza said time and time again about the oil? The gas is a different issue which we all accept even zaza.

This can only be a very positive move in what I believe is a medium to long term plan. All in my own opinion I accept but I have never viewed This Company as a get rich quick Company I just think I have been lucky to get in at the ground floor and can afford to wait even longer. If I bought in at say 2p I would not have the same number of shares and any profit that I could redeem on a rise in price would be very much diminished.

A last thought to all the negative stuff. Have we had an oil well duster yet? NO Have we had a Gas duster yet? NO Have we got oil coming out the ground ? YES have we got gas coming out the ground ? YES Are we producing commercial quantities YET? NO. Could BH be very important in moving towards commcialisation Call me daft but I say YES. what was/is Zaza statement some - 200 well campaign Need I say more other than the plan may change as circumstances change as with all things

AV
Going out with Navy people tonight incl a rear Admiral and a retired Lt Gen of the RM's nothing special a book launch. It will be a session. Old enough to remember the daily tot and seeing too much going to waste in Pompey.
I think you had better call me a Pirate as I was Army for a while. Neeters!

Well said Mr Mole. It is easy to forget that at the end of the day the power lies with the Georgian Gov as a sovereign nation. There will be a natural conversation about who has what and indeed when given that this is a commercial operation with associated risks etc. At the end of the day it is a negotiation which will be basically satisfactory to both sides and both sides thinking perhaps they have not got entirely what they want but it is good enough. These things are the natural course that takes place in hundreds of places all the time all over the world and will be arbitrated through the due process of contact law.

I do fear that the entry of what maybe personal politics is most unfortunate and I hope it stops immediately. There are other places and forums for this. This is a discussion board about Commerce and investment of our own hard earned.It is a most unhelpful contribution

Lets keep this board clean of irrelevances and of course a bit of banter to help keep our spirits up. Getting time to splice the mainbrace.

Fire

As best we know and maybe Mr Mole can reiterate our agreements as to our rights are watertight - at least I bloody well hope so!

Not these days! standards have been dropping for a while !! Seriously Berry's tasting room is very good and it is free.

message to my self LOOK OUT ___ IN COMING!

Bugsy Thanks for this On that report alone I can assure all that BP will have all the Knowledge they need to at least to put some effort in. They will have had the report long before it was published and would also had a UK FCO opinion of Dudleys desk in just as short order or maybe be even sooner! I no longer have a subscription to the F Times but am having a drink with my Broker mate Friday night ( just has to done each week) and will ask him to see if his research dept can dig anything up ( he never reads anything they send as he does not have the time due to all the compliance stuff these days)

Many thanks and will report back some time Monday eve. I can not cope with some of the chatter during the day - If I hear one more moan about shorters I shall go spare - the points have all been made

Fire
For the time being it is out of our hands I feel. but we do have all the rights which is good and from what we know they are watertight but there are some things which are over our heads and the EXON stuff with the Gov is for the time being - why should the GG deal with us as a minnow when they have some quit big fish to fry and SAY exon could deal with us and they have very deep pockets Remember The GG is desperate for inward investment -Hence there visit to London recently . If Zaza is correct I can not help but feel that we as share holders may have to make a decision which will be nice to have as just for once we are a company which is mainly held by PI.s so it had better be a good offer. My word of caution is that any offer may not be what some people want ie an exit moment and all buy a new Bentley or what ever it just may be something which is good long term . I simply do not know

Ivy

If you pick up even a hint of Wood Mckenzie in Georgia can you please post. I know them very well. Shall we say they have some very interesting connections that I know about via a member of the Family who works for them etc

Fire
Bit of a chicken and egg situation You are very right in a sense for any of the big boys they very largely move on a purely commercial basis ( no point going after dusters) however they do have very close contact with their own Governments and shall we say that they may be "encouraged" by Uncle Sam or indeed the other way round Uncle Sam and indeed the good old UK is very good at helping with Commercial Intelligence/ advice which could be as little as "can you slowdown/speed up development" and normally they comply In this case I personally think that the Chinese have been sniffing around and Uncle Sam does not like it so a "Can you get in quick Mr Exon?"

As ever Ivy a good insight I am just wondering if the involvement of Exon is going to used as a shot across the bows of the PM to say in line with the west. There are after all a lot of pressures in the area over influence . Personally I think this is very much a case of Chinese O&G keep away from our patch. Remember the USA have a huge Embassy and it is that big for a reason. As ever just my thoughts

Mapp
Any crabs!