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Well Eazy. I am not surprised. If it gets to 5p I will be happy monkey. If it gets to 5.1 then the Charity is paid for. So I do hope you are right.

Eazy. The Bond marker in the RNS swung it away from the danger zone. Double it ? Oh contrare… I’ll offer you the chance to half it if you wish ? Out of sympathy as trading days evaporating.

Who woke Ashwaldo up ? Goodness me … Thankfully he be £100 lighter come 31 Dec should JV not land. “Fully funded into Q1”. There’s a clue in the RNS.

Mafee… Crikey pred text !!

Great Post Magee and seems more than plausible re higher B/E production figure. The GGS should deliver and the JV takes us into a Step Change of Profitability. Tempered expectation now but realistic. Oil $91 and on i3 the SP not interested.

I never doubt Pilot. He’s on the money. 99%.

Nobody works for free (apart from current BOD), so has a buy offer already been agreed in principle ? Thus meaning the Bond payable will hold up ? Far fetched ? There has to be some guarantee tied to that Bond otherwise no one works for nowt ?

I believe no single entity can hold greater than 30% or a full offer has to be made for all remaining Shares. That said / we have do not even have any recent TR-1’s so …

Seen as Eazy constantly suggesting “Strong buy” all the way down from 18-19p. Just out of curiosity… what’s your Target Sell price Eazy ?

The oil price must add value to the end game here or at very least bring the end game to here sooner. The end game being cash flow positive and rising production pathway or JV or buy out.

I am becoming ever increasingly concerned over GGS outcome but maintain my patience by considering that the BOD set out their stall to increase Value. In fact maximise it. I will hold on to that.

The large Sells are controlling the SP at 3p. I keep maintaining we have billion barrels down there. There’s a lot to choose from but we make it hard to get it out ? So until a real FDP produced by the BOD then ….

Price of Oil at $91 / it’s all there to kick on so ….

Bonds not abounds !! My goodness..

Personally I think the abounds being re set at 4p killed it. Whilst imo a good move by the BOD / it’s removed a large percentage re where Investors interpretation / speculation lay. It’s up to the BOD now to deliver some news which outstrips the Bond cap.

Was exactly the right time to buy. That’s exactly what i3 did.

A Big 2 weeks coming up. We will learn a lot re the BOD intentions on communicating Results swiftly to Market or not.

The GGS outcome is not priced in. What we should be discussing on here is how we believe the Results will affect the SP and when.

Re price of Oil / Again not priced in because we are not cash flow Positive / I realise the $90 v $80 a barrel does not always translate to $10 increase Netback but in most simplistic calculation $10 x 1200bopd x 350 days = $4.2m per Annum which permits 1 free drill per Annum or thereabouts.

We have to be able to “Slow grow” if we are to achieve a decent JV agreement.

GGS and price of oil hopefully in our favour. Critical 2 weeks..

Maximise the Asset - Not minimise !! Oh my days ..

$3.5m / not b - getting carried away there !!!

The reason it’s 3p is because there is a billion barrels of oil down there and it’s not coming out. At present the Company cannot monetise it. We’ve had to do an equity raise (small by anyone’s standards $3.5b) because current oil production is not contributing to positive cash flow. We have negative cash flow. There’s definitely something a miss if you have a billion barrels and you have negative cash flow.

That said…

Investment complete re phase 1 of GGS but as yet outcome unproven.

LOI has no SP value attributed to it as no Timeline disclosed.

We now have sufficient Cash (If GGS delivers) to go it alone and slow grow.

At end of the day it’s the BOD job to minimise the Assets and a FDP alone would get the SP moving.

As yet the BOD playing it cool after what was imo a quite thorough RNS but based on Change to deliver value (Monetise the Assets) rather than offer a FDP. I guess until BOD confident GGS will deliver consistent performance then this is where we are 3p.

Hopefully Firefly Zag will be back here at Christmas when your 25p prediction becomes a reality. Fingers crossed.

The 1st Nov date is re to appointment of 1 extra non exec Director. Nothing to do with LOI long stop date.

Stas. I’m getting very worried that we’ve lost Plaicefish… ??!!