Member Info for FX_Wizard

For sure, I hope the West gets its itself together, we need to ... wokery and net zero don't work well. Prayers to the innocent people to the East.

Exponentially ...

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I remember that - when CTAG went south, he became public enemy number 1.

obviously, the SP has held well since Merlin 1 given the fact they came across some light oil in the formations.

Where as prior to Merlin 1 the SP was 0.4 if I recall correctly, with the recent raise you might think the SP might not reach the heights of last year, a few headwinds possibly, but on the positives we have a fully funded drill, permit approved, and a derisked play ...

fingers and toes crossed.

Aberdeenman ... thats a blast from the past.

some thoughts from me ...

In terms of hype, we have 41 posts ... on here, I don't think the herd has arrived from that point of view, I think the uplift we have seen is less from the the herd, as we haven't really had a spike. However, 1.35 in December would have been the ideal entry. I just think as the drilling starts, you derisk as it goes along, then you leave in what you feel is the right level of capital for you. The probability according to the presentation material is 56%. If it isnt successful then you at least feel that which you left in ... you can hold on to the next phase of the companies journey whatever that may be.

Like anything ... profits not profit till its banked ... whatever target that is for you ... dont be greedy.

The IRR on the acquisition ranges from 75% to 400% depending on the success of the workovers... if it acts like a small cash cow to support core exploration activities, whilst diversifying the portfolio, and improving exposure across investor base ... seems like a good move.

Cap raises just freak everyone out, which I can understand as probably all of us have been burnt by shoddy financing deals, but this seems sensible and worthwhile.

part of the new acquisition, is not only to reduce the CR burden on drilling activities, but also to help make the business more attractive to US based investors, hence the earlier listing in January that side of the fence.

Ducks in a row ...

My expectations that we shall receive an update that rig mobilization is progressing well this week, and a specific date for spud.

https://oilprice.com/Latest-Energy-News/World-News/Bank-Of-America-The-Ukraine-Crisis-Could-Send-Oil-Prices-To-120.html

Hi BA, just using the time lines between last years RNS updates as a proxy for this year to provide an indicative date

Looking at last years timeline from permit approved to rig commissioning complete/ mobilisation commenced, it was 19 days.

I know we started the commissioning earlier to try and save time, but even if we just use the 19 days as guideline we are looking at the 27th February, with a possible drilling commenced date of the 19th March, based on last years timeline also.

The RNS we are all waiting on ...

Highlights

· Merlin-2 drilling commenced

If I was in Putins shoes, which i'm clearly not. IF the rest of the World was saying Wednesday, when not just troll them ... makes Joe, Boris et al and the MSM seem like War mongering fools.

some troops returning to their regular bases following drills.

Bloomberg

Added 35K on the open today, couldn't believe it - what a gift.

I don't see what the big deal is, its always a possibility leading up to spud. It will all be forgotten about in 3, 4 weeks.

Its an oil exploration company, it drills holes in attempt to prove up the resource, so that oil can be extracted. You complete you 3d seismic on the acreage in order to try and determine the area that is most likely to prove successful, its not always going to work, but that is the nature of the sector, but its high risk, high reward, hence the volatility that can be seen in the share price, and it derisks towards spud, should it one day be successful then you are looking at multiples of todays price.

Good news indeed, let's hope that means we are all good for an official notice that the permit has been released. BLM had already completed all their regulatory requirements back on the 20th December with their sign off, reaffirming their position bodes well, but we need that RNS.

Wednesday at the latest would be my thoughts as it only closed on Friday at the end of play, probably covered some ground over the weekend, but depending on comments received probably take a few days to review and reply back.

https://youtu.be/DbL7Frf6nJI

One last track since it's Friday...

Have a good weekend.