Member Info for feelinlucky

within our connected companies....Petrichor has gained 46% of EDR shares, so in control of UJO's portfolio of assets which are largely EDR JV's....also EOG is impacted as a Wressle JV partner.....EOG has said it has some corporate moves imminent (it is in a stronger position with farmouts also due)......Petrichor is pretending to be interested in shale gas which requires fracking (frankly not a credible motive, must be after Biscathorpe really....or maybe more?)

DB not been videoing interviews as you would have expected on the Wressle reult, so there might be something interesting brewing....not like him to shun the limelight opportunities is it?!!!

Agree totally......just shifted the 'robbing' to new target where can get away with it, the little people on AIM

total bulls*tter, does this sort of thing regularly! (usually right before he expects news to land)

In Flatearther's posted link earlier today did anyone else hear Jacob Rees-Mogg asking a question at 11.03 mins in?

They're both young and inexperienced, if business model still same as three years+ ago they need to do some growing up and get more experienced people on the bod. If you don't know what your exit strategy is you don't have a business, so far so lucky, but may soon make bad mistakes like utilising that loan facility. While California was easy for getting started, it is now a part of their portfolio which has not been fully argued for and merits vs risk examined. Three years ago it might have been easier to sell on once developed, but that does not mean that nothing's changed since. Has it really become more attractive since they got involved with it? They need discipline in what gets spent on projects and how long they chase them for and if that money could be better spent elsewhere(rebalance portfolio in favour of better quality more recent investments), and to acknowlege their inexperience where teams on the ground might draw them in to further unintended investment (the disadvantage of 'not having a central team').

No coherent exit strategy re California, possibly too influenced by their 'regional teams', time they reviewed what they are doing

9) NO further dabbling in California! (FFS! - pardon the sweary)

here's another 'if California ever goes 'glug' underwater we are protected by a handy subsidiary structure' ;-)

Thanks Flatearther for that, now I understand they are just 'rolling out over California, squashing the oil out of the ground as they go' because it's so cheap to do and really hardly worth selling on as that would involve legal costs!( vs the business model for UK for example where the more 'serious assets' are to be sold on as development would be expensive)....how would people summarise the Romania business model?....... 'see if it's any good and then decide'?

that's what bothers me ...I think they should stick to their stated business model of monetising and moving on and not getting drawn in to be production company more than they need to (especially not on the SAN ANDREAS FAULT)......I'm annoyed that they are considering further investment there when they have much better prospects in WN and Corallion's Victory that they should fund instead....maybe even join UJO/EOG projects?

9) California always gives me the creeps...you know 'The Big One' overdue....(onshore asset could become an offshore one!!!)...... if they've got the wells flowing better now it's time to capitalise and get out, what's to say the wells will continue like that... it would be good to see the 'color of the money' from that before going on to spend on 'rainbow chasing' as getting paid in usa for assets sold is not always straightforward and little companies often get left waiting for payment that does not come

1) more and better communication from the boys
2) offloading of California and Romania
3) a better loan facility arranged on the back of an excellent West Newton result
4) farm out of West Newton
5) progressing of Victory drill and West Newton drill
6) CPR for Corallion leading to the 'liquidity event'
7) reduced rainbow-chasing acquisitions for the time being! (flog something off first)
8) actual production from West Newton
9) no further dabbling in California

Did you see Proactive Investors, Europa Oil and Gas did one yesterday re. Wressle?

.......GOOOOOOO.... REABOLD!!! (and shake those pom-poms :-) )

V-I-C-T-O-R-Y,.....VICTORY! VICTORY! IS OUR CRY!!!!!..... (reminiscing of my old school sports-days)

they must have identified more prospects while doing the CPR imo...tends to happen when things get looked at closely!

still haven't told us whether West Newton liquids are oil or condensate...suppose the latest perforated section will have to flow and clean up a bit before they take samples of that to test.....

could land at any moment, most people here seem to have forgotten about it

You'd think it's time for Woodside to grab what it can of third party customers (within easy reach of it) for it's processing plant before regional competitor's processing and pipeline plans expand as they are bound to do