Member Info for Ezhik

JH Thats a blatant LIE. IHNC says its 0.5%. There may just be some other factors to consider though eh? Volume and flow maybe. or is IHNC making it up, or maybe Minchen and sears disagree? who knows

You are talking about the initial readings right? Nothing to do with the results post acidisation. Company have said circa 1% and above for commercial discovery, but a dual completion of the well to include Amsden would add to the overall well %.

Good news for you guys on HE1. Any income is good income when it starts to come in.

Oil and gas exploration in Montana is restricted during certain times of the year to protect the Greater Sage-grouse.

When are restrictions in place?

Winter range: No surface use is allowed from December 1 through March 15

Breeding and nesting habitats: No surface use is allowed from March 15 through July 15

Migratory periods: No surface use is allowed during migratory periods for stopover sites

Near leks: Oil and gas exploration and development is prohibited within 0.6 miles of a lek

Last local news at Rudyard is that the Grouse have made a planning application for a multi story, all seasons Lek at a much favoured site 200m from the Helix Exploration well head at their Rudyard project. Plans are to include a Lekking skills training course.

Yes you do need cash, but what I posted is still true. Bench was saying he can't understand why the SP is still below 20p, I was simply saying that with the current Mcap and using the figure for shares in issue pre-dilution, it would be 20p. The point being you cannot compare the SP today with the SP from before the raise unless you factor in the dilution and the Mcap. Other than that, the Mcap looks like fair value to me.

SP would be over 20p if there wasn't another 34million shares in issue.

Skippy. Agree with that post. Tankers for Acid, Tanks and subsequent tankers for waste, pumps, pipework, valves, control equipment, crew, cabins, power generation. IMV there was no point attempting mobilisation in bad weather as the well and any contents is going to be there next week and the week after. Anticipate a tweet showing site set up prior to start.

Have they mobilised to the site yet?

Thanks for that Swissy. I can foresee a couple of weeks actual work plus extra time for independent inspections and certification. Call it 6 weeks.

Funny thing is, that's what we were saying back in 2013.

P.s. I work in the Gas industry by the way lol.

I was referring to your reference to 1666---London burned down.

@Troajan - lets hope we don't go up in flames though eh.

Well Skippy, lets hope that they get a positive outcome on Charles as at the moment it seems not to be priced in, but rest assured if the outcome isnt good, the SP will get hammered. Next well-or two at Rudyard will be carefully picked for location to virtually guarantee another commercial well but the proof of it to the market will as you say derisk further.

They need to drill at least another 2 holes in the ground before the income starts to look attractive. Agree that first production will be a milestone achievement but 2-3 million dollars or so a year from 1 well isnt going to pay the bills, and that is assuming that the well keeps flowing. Catalyst over the short term is a commercial flow from Charles sometime in March, hopefully very early and then 2 x new wells for Rudyard starting end of March with April results which should then lead in towards the plant delivery. @Bagzz will get his 17p and we can all take him off the critical list. For clarity, I decided that I had been a bit hasty yesterday having sold and therefore bought them back, just £10k in 2 x 5's, price all-in a bit less than I sold, so ended up with about 1500 extra shares.

You should be dancing Yeahhhh. it'll be Ok so long as we don't get 'tragedy'!

Or is that Write ;)

Looks like he might be wright though :)

When they tell us the team has been mobilised then we will know that there will be approx 10days-2 weeks to wait for the effect of the Acid. Action vs Words and supposition.

Took my pennies out again this morning. 2 early trades £10k couldn't sell in 1 hit. Clink re-entry 'in coming weeks' could be any time from now until say end of March. Production this year, likely Q3 by what is being said. Even when the plant is re-certified and connected to an electricity supply, it will require on site optimisation to make sure it is getting as much of that 1.1% as possible. Once the acid crew are mobilised there will be some money to be made in the anticipation leading up to the result. The outcome is still high risk, it is 'common' practice to use acid and there are plenty of successes but it still needs to flow at commercial rates. Each to his/her own but at least if I'm not happy about the state of affairs I do something about it.