Member Info for dunderhead

Yes but what I do blame the directors for is taking us down an Ireland path which has yet to provide any value for us. If this comes in soon I'll be the first to congratulate but at this time it looks like they have significantly mis managed what looked to be a very promising, albeit small oil and gas company. The Cairn update could be because linked to the farm outs in some way but, I personally do not think so. Cairn are a very exciting busy o&g company and if they see something they like they go for it, so if we have to wait much longer for this, my confidence on them taking this forward wanes. (Primarily because if they see something they like I'd have assumed they'd have been back earlier rather than later on the time lines) Here's still hoping for update on farm outs from this major lol company. If it is XOM (as an example) then the time lines are still good but starting to get 'concerning' I think. As ever all imho and dyor.

A few sales being absorbed by "market"? Or are they actually buys?

Good post David1951c.

Trustatrade nothing posted on here impacts the share price (at all) matey. Do you just want to hear possible "positives" or just as equally possible "negatives" as well, in the spirit of debate? If not, what's the point of these debating boards? I am certainly not beating this company down and to repeat, any posts on here will not impact share price imho!

This is why I keep on saying $250k seems awfully cheap. But you know this bod must know better than me so I'll keep quiet.

Rudey what is ignorant with regard to what has been posted on here - eog related of course.

Gibs u know my feelings about mgt. If no farm out but they notify mkt immediately they may (somehow) survive but if they do not notify upon immediate notification from farminee then I think even they cannot survive that however as above, I'm surprised they've lasted this long, considering how quick CCF was kicked out? In the mean time let's give them until end of month for an update as I would not be happy to proceed with drill preps etc and no one to drill!! Who knows could even be a (positive) rns next week? Best of luck all.

Gibbers I am 100% sure they know nothing yet from potential farminee as they would immediately update by rns due to the materiality and importance of this information either way? I think period to the end of January is a reasonable (but stretching it) period to "complete". If they haven't at least updated by then, even I* will be writing to them to berate about lack of communications!! Best if luck all and as ever imho and dyor!! * there are some nasty rumours about me being a lazy b'stard at that kind of stuff!!

NorthernMagic I don't think the current incumbent team have had that much to do any way, so the fact that zubs are (nearly) operator now, shouldn't really make that much difference to their troughs?

I'd like to see some clarification regarding farm out progress. How many weeks is it now?

Who knows but I was a big supporter of iog mgt but got to admit am very unhappy with current situation. Perhaps all this 'difficult market talk' was log related and I don't see the market being better now than before Xmas but, I do now see a potential funding gap that will need filling. Could all be very much in hand but I have a 'feeling' we will see some dilution now to take on some of the risk from possible placees who also will want a nice low price to potentially average down their earlier investment in iog. I am very very surprised to find us in this situation and obviously hope I am wrong but as time ticks by potentially more and more investors already in profit (definitely not me, lol) may be spooked into taking profits? As ever best of luck, all imho and dyor folks!!

Thanks very much Crusty! Good post apbristow. Best of luck all. When's the next "election" in Tanzania by the way?!

Yes agree but as per my reply on adv. I thought iog were already bullet proof up to now!!

I think we will get infested with de rampers now tbh. Hindsight a beautiful thing but you'd have thought they'd have done better dd on log? My concern is that alternative funding in current mkt may be difficult to schieve? Here's hoping they always intended to change log for some other form of debt instrument and this doesn't impact things too much. (Ignoring already 25% drop in share price!!) Straws clutching at, comes to mind and to say I'm angry, would be an understatement.

So what's the verdict then? I am not too positive current market but only my own opinion?

Hey Viking so sorry to hear such tragic news mate. It's so sad, I don't know how I'd cope if I lost my daughter like that.

CPerkin I think the govt have ignored or upset far far bigger offshore than the zubs have they not?! Although of course if all the demand supply onshore gas curves are to be believed this could become critical path soonish!? There have been some good posts over on adv this morning from very well respected posters worth reading I'd say?

They probably have Tovic but mgt have yet to tell us?! Who knows, could be linked to the farm outs but I'd say pretty unlikely? All imho of course.

BG00 yes I remember that but felt the farm out was for development only. If indeed it is for exploration wells then there is no reason to think that the second exploration well will not be? I realise it is in rns and "official" but such is my distrust of aex mgt I just felt it was another error that would get swept under the carpet. However it would be very good if not the case as I personally never expected further exploration wells. As stated earlier though if the top layers of well are used for development although the lower layer will certainly extinguish one of the exploration well commitments 'normally' the 'top costs' will go in the development cost pool and the 'lower costs' be treated as exploration and not part of this development cost pool. As ever all imho and dyor folks.

That would be my inference as well Crusty. If it were a deeper discovery they "could" argue it was a development well but I'd take it as an exploration commitment because the marginal costs likely to be lower than full well. That is assuming they've got enough cash to cover those costs?