Member Info for elland

Stockdale there is nothing wrong with having a different opinion but you are not adding anything new to the discussion, The CEO hoped to have farm out complete before year end when oil price was recovering to circa $65 dollars earlier this year. The price is now under $50 and this will not help his negotiations. That said he will not want to make an agreement which is under valuing the long term prospects in Tunisia. There is all indication that increased gas reserves in Morocco will lead to increased production and profit. Politically it will be possible to increase the margins further with higher fixed rate terms as the only other option for gas in Morocco is more expensive. Finally please read Malcys blog of 16 Oct. Every chance that my hunch re Gulfsands assets will come off.

STOP BEING SO NEGATIVE STOCKBUYER. GIVE THIS MANAGEMENT TEAM MORE TIME. THEY IN THE PROCESS OF NEGOTIATING NEW GAS SALES AT POTENTIALLY EVEN HIGHER PRICES. FARM OUT NEGOTIATIONS ARE ON THE WAY WITH A SELECT NUMBER OF INTERESTED PARTIES FOR TUNISIA OFFSHORE. EXTENDED CREDIT TERMS CONFIRMATION DUE SOON. SPECULATION RE GULFSANDS ASSETS. RECENT 3% ACQUISITION OF SHARES BY UNKNOWN OMAN INVESTORS. NONE OF THE EXISTING MAJOR SHAREHOLDERS ARE SELLING. ONLY RECENTLY YOUR OPINION WAS A WEAK BUY ? TOO MUCH GOOD NEWS AROUND FOR THIS TO STAY LOW FOR MUCH LONGER.

Hi Robbie. I think that the deal is done

COP are well in with the ONHYM partnership and on Tuesday the Gulfsands permit in Morocco expires and there are proven reserves next door to our own permit. W e need the extra gas to further maximise our pipe line capacity

The MMs controlling this share and the big investors still not getting on board. That is why the RNS at least shows some new Institutional Investing. Who are Aberdeen Holdings, Oman ? Its not the Sri Lankan company Darien, I have already checked that with COP. Next RNS should be confirmation of funding extension followed hopefully by news re farm out progress in Tunisia

Yes its a buy. Small trades this week will have put it over the 3%. Prior to then there was no need to issue an RNS so by going over 3% maybe significant. Its not the Sri Lankan company but a company that trades from Oman. I cant find anything on google.

I have mis read the RNS Who are Aberdeen Holdings ? Anything to do with the Asset Management co ?

Another positive RNS. I Hope to see more institutional investors building stakes here

This will fly. All the news going forward is positive. Profitable Gas and Oil Revenues with,as Mitch said, "the jewel in the crown" which is Tunisia, still discounted at these prices. Any news re farm out will result in a share price "take off"

Thanks for the link Humble. A decent interview and I thought that Mr Flegg came across well He again mentioned looking for opportunities in the existing countries of production and I am sure that Gulfsands Morrocon assets will be high on the list after Nov 9 the when their permit expires. Macy's blog tomorrow worth reading

I missed it Darien. Can you detail the highlights ?

Welcolm ok aboard Kempseyma. The more the better. This share up is back on the up

Agreed. I am sure Malky will ask about the Gulfsands assets in Morocco

I refer to the post by Squeezejob on Thursday. I agree that the Gulfsands Rharb permits are ideal for COP. Two wells already successfully completed and suspended with three more drilling locations identified. This would explain the decision to delay the next Sebou campaign until late 2016. We have an under used pipeline and production in place. It was interesting that in a recent Malcys Blog after he first interviewed Mitch Flegg this was mentioned. The half year report also alludes to opportunities in the area. PS ITS GOOD TO SEE NEW CONTRIBUTORS ON HERE. THANKS ALL

Good info and great to see more support on this forum for a potentially exciting recovery stock. I still predict double figure share price by yr end

Its no coincidence that the Malcys Blog interview comes immediately after the latest success. I am sure Mitch will be asked some relevant questions and I am further sure that he has some news to impart including the update on additional gas discovered. I also expect a snippet on the Farm Out process in Tunisia and reassurance about the financials. Dont forget that Small O&G companies are generally unloved by the City. Unlike others however, we are producing and profitable. GLA

see todays blog. Confirms good news RNS and as I predicted, a further interview with Mitch Flegg next week.

But it is good news Stockdale, The success rate for drilling in Morocco during this campaign is 60% not, as our friend Stockbuyer suggested, 25%. The costs down by 30% and they will fall further as the rig hire is renegotiated before the next campaign. Kaupthing Bank, the second highest investor, spent 3 days in Morocco earlier this month checking on their investment. They are obviously content albeit frustrated with the City reaction. This will change. Todays reaction is typical. Opened at 5 bid 5.5 offer. Hardly any sells but 350k shares have been bought at 4.75 ?

There are some key statements due before yr end which will improve sentiment here. First confirmation that credit lines have been extended. Second the successful final drill of this campaign. Third an update about offshore Tunisia farm out. I still think that this will be 10p before end December

I have just come off the phone with the CEO and after the conversation feel a lot happier about the current situation. He has just spent days with some of the bigger investors ensuring that they are still "on side" with the current management strategy. Note that Kaupthing, Audley Capital and other large investors have retained their full holdings over the past 7 months. The recent Credit Extension agreement should be ratified soon putting the company on a sound financial footing. The "financials" have quite rightly been his priority and with help of the CFO, reductions to the Morocco costs will start to impact the bottom line. More and improved sales contracts will be announced and there is even possible room to increase the gas selling price. The Rig costs in Morocco where too high and will be re negotiated once the current contract expires in 9 days time. Possible early news on the last drill in Sebou ? He confirmed his vast experience in Farm Out business and sounds quietly confident about offshore Tunisia although current oil price <$50 not condusive to early conclusion of negotiations with a select number of interested parties. Mitch accepts that the number of board members is top heavy. Re court cases in Morocco, they are mostly spurious and no real concerns for the board. Finally re the PR, expect imminent improvements. His priority has been the main investors but expect more PR from Mitch himself and another interview soon on Malcys Blog. My final thought - this is still a company producing oil and gas which is profitable in a sub $50 oil enviroment, with huge potential in Morocco and Tunisia. There is also an under used pipeline with the potential to pick up some inexpensive Moroccon assets which will help maximise usage. I also still believe that the current BOD directors as MALCY SAID ON HIS LAST BLOG ARE " POUND FOR POUND AS GOOD AS ANY IN THE SECTOR"