Member Info for Foresight22

‘invitations only’

Seems to be very strange having closed CMD - more M&M I suppose. Minor shareholders do provide Capital so how can they be not invited? Shares can be traded during this meeting so not level playing field if ALL not invited. CMD should be focused on Technical Content presented - plus for invite-ies to have access to Rooms-Chat. If presentation shared before - the chat cannot be, which based on this years’ AGM was 100% more insightful. Seems poor if ALL are not invited...

No sandwiches today again, 5% shelves empty. Apparently delivery of sandwiches now moved to mid day! How much loss of sales is that causing... BoD what are you doing!!! Is this your catch-22, 'Sainsbury's sell food but not to meet customers needs' (?) Get Pret or Ocado! - they would deliver around 7-8AM. NOT IMPRESSED. I bet your office canteen never runs out, nor do they serve up breakfast at tea-time?

Does bp pay HE $61 or $64/BO, ie offload to tanker date or delivery in Rotterdam spot price?

..these things seem to happen on certain wells. DST will only provide primarily local PI info. 007 & moneypenny would not test if this was not discovery. PR => CR so still very positive whatever resultant PI info demonstrates.

Oil Price looking better for next lifting.

Seems SP finally responding to end month spud.

Too much M&M for SP rise on current EWT on Lancaster as clearly demonstrated yet again today. Tomorrow's a new day - time for knowers of WD to be proven - flaring tomorrow night based on BB last week. This will add 1 billion new Contingent Resources from Prospective Resource Category. This will be first real new news - if still no SP movement up then current shareholders will continue at a significant disadvantage to 'Operation Interruption' [IO].

"As well as giving a small cash flow, the Lancaster EPS will help bosses to better understand the reservoir"

Small cash flow! $200-300 million per year not that small - what's the profitability of news industry. So many downers - obviously don't no what success looks like. Been tooo long on AIM. Encore was probably the last success.

..not exactly accurate but AS was on docking with at least 12-15 hours with potential discharge at 30,000 BOPH - so certainly substantial lifting as inferred by better than predicted well rates. Test run had used oil - so no time would have been spent certifying offload system this time.

Let’s re-focus back on WD.. we need SP increase or we will lose a lot of value to any purchaser of HUR.

As with other issue of OGA, they can only agree to increase in reserves once HE submit new plan and present HE view on historical Lancaster subsurface and surface performance. Whether this is a given - certainly not in the current SP as should be obvious, as the remainder of ‘1/10th of the law’. HUR Reserves Auditors have not issued up date either.

How about $72.4 to $61/BO. Precision is 9/10th of the law, you are right. Will be very glad tomorrow when SP tomorrow is not similar to today’s rising end point, but I fear otherwise.

...probably same as today. Remember oil price was $70/BO now $61/BO ie 15% lower valuation. Need RNS on WD and OGA to agree offtake increase to achieve 100MMBO proven reserves (based on successful CMD on 11th) - then must be much increased, or a buyer is going to capture our value. Two more successful wells with associated DSTs would help too over next 80 days. Great times in next 3 months.

...check last week posts, apparently flowing late Wednesday. DST completion being run - apparently, KEEP UP.

BoD went to Sainsburys this morning to buy some sandwiches - shelves all empty - none delivered! 5% of shelves empty.. Told no deliveries maybe tomorrow... How hard is it to organize sandwiches??? Why not have a contract with Pret - they would deliver - maybe better quality tooo. Hope no bonuses this year guys. NOT IMPRESSED.

"very heavily refurbed FPSO"

Lots of comments made previously about why AM took sooooo long to achieve FOIL. Simple two well tie back to mature FPSO. In AGM rooms had it confirmed that main mods were just so to be WoS weather proof - most facility work was mothballing - so AM was not heavily refurb-ed from process side (mothballing now will have to be reversed offshore!).

Think there will be very sizable cargo transferred, heard already from the knowers that wells flowing better and sure Dr RT will want to catch-up from rope knotting delay. DD constraints on wells will mean maybe two liftings before 11th July. HE may want to do another BU before 11th to check PT preFOIL analysis - but - can also do similar based on FTHPs if reservoir still acting infinitely. 10hrs more and we should gauge how full AM tanks were.

Downers - glad you all had nice weekend off.

..it’s light oil and enough till FFD!

https://youtu.be/GxfOd3l1WFY

..flare boom is over the side?

Yes, one last thought before I hit the golf course, ...due to the rope knotting exercise, HE might feel they are behind their internal year targets, so producing more to catch-up would be preferential, as long as they stick to their pre-set DD well limits. A full-ish off-load now would suggest that 6months rather than full year would prove up the de-risking of FFD. More M&M thoughts next week when SP > 58...

...also before the downers on this BB start, yes the off- loading to tanker system has been fully tested with oil - no new risk of an ‘Elvis P living on the moon’ that will cock this operation up! Petrodollars paid - probably by Wednesday(!) if offloaded all on Monday.. Downers PLEASE try and enjoy the weekend..

Great news, maybe HE artificial targets on AM are being exceeded? I believe (only a surmise) based on previous HUR info, that a drawdown constraint has been set per well - but - as wells are flowing better than predicted and with the PT preFOIL a success, then the only real limit is around 20,000 BOPD - probably linked to OGA limit on flaring... HE might also want to do BU post first cargo to recheck PT preFOIL, before CMD which would then bring down the average rate to closer to 9000 BOPD. Only a guess this is M&M phase.

...certainly great news and at least two RNSs before 11th July. Hopefully the rise in SP next week will not be temporary! THIS TIME!,,,