Member Info for G_G_G

Hi guys, do you know if the interview was recorded. Unfortunately I had other commitments. Few things:
- Why do people think it could be a 'smaller player' now? Or do most still believe it could be Repsol Sinpoec?
- Is the reason they're not announcing an expanded Canadian program due to the funds being ring-fenced for Serenity?
- Anything about the loan facility? The reason I keep asking is because $50m could be used to double our Canadian development and be paid back in less than a year due to us being on-shore and having targets already scoped i.e. the debt immediately starts being paid back. There's never been a better time to take on debt, not just because it can be re-paid so quickly, but because the world needs oil and gas for the near term more than ever. Plus it will prove up our acreage and increase our reserves. So huge value upside from relatively little debt. And we'd still have enough money to drill the Nth Sea with a partner and pay the divi twice over.
- Anything about the dividend?

I won't be surprised at all if we close in the 20's. I think if Graham indicates the f/o is close, which could be interpreted as the reason they're not committing to an expanded Canadian program with all the cash we're generating, then we're likely to jump even higher. With everything happening today it's easy to forget they're forecasting US$150m NOI this year. It's a ridiculous amount of money we're generating for a £220m mcap. It's also likely to go even higher given purchasing of Russian oil and gas is going to be curtailed significantly by the West for the foreseeable future. And, we either have the Nth Sea being drilled, or one would hope +50-100% Canadian wells being drilled. I think the market is very much still in shock, but when people start thinking about the safest places to put their money for the next 12 months then O&G and i3e will be very strong candidates. AIMHO

Malcy singing their praises will put at least another penny on the sp so I'd rather they take him to an 'all you can eat' dinner and buy him some flowers. I'm sure he'd appreciate the dinner :)

Unbelievably unfortunate timing given what has happened today. It's so incredibly sad what's happening to the Ukraine right now that it's hard to get upset about whether it was a good or mediocre update, and how the sp has reacted. Fwiw I thought it was a good update. Everything you could have asked for with the exception of some concrete plans for the fcf being generated. Wrt to fcf, I'd like them to make a commitment to X more wells by year-end, and increase the divi sooner rather than later. They're making an absolute ton of cash and should be using it for more production while the poo and gas continues to strengthen from already very high levels. And they should provide a modest £2.25m (+20%) to the dividend. This is chicken feed versus our mounting cash position so a small amount should be returned to shareholders, especially if they're not going to drill a lot more wells in Canada or complete the f/o for drilling later in the year. On that note I'd also like to hear the new expected time-frame for the f/o to complete and drilling to take place. One also needs to keep in mind the new ex-dividend date should be announced in the next week or so, which should add a penny or two. In summary, a solid update delivered at an incredibly sad time. GLA

Hababo, the reason why I was supportive of hedging production at the time was the world had no idea what was happening with Covid and the many variants floating about. Imo it was a very wise and responsible decision to make. You also have to remember the hedges weren't for the majority of our production over years like TLW. Roll on tomorrow!

Also nice to see we just touched 20p again. With a positive update we could easily break £250m Mcap (22.5p). Would be wonderful if they upgrade the divi or deliver some stonking drill results tomorrow.

Hababo, I'm in the same place as you wrt our mounting cash position. With commodity prices at these levels and perhaps even higher in the coming months I agree it's unlikely we could buy anything on decent metrics in the current market. So more drilling and increasing the divi makes absolute sense. I'd also be in favor of them going it alone in the Nth Sea. Our prospective partner is obviously unreliable given the amount of f@cking around that has happened over the past 12-18 months on this project. It's not a lot of money so if they're struggling to sign off on the exploration / appraisal budget, then I don't see how they can be relied on to develop the field. The wider market is never going to be more supportive, which includes esg interests that are more silent now given they're finally starting to understand what 'energy security' means. It really is the perfect time to get our Nth Sea interests in the picture.

Regarding hedging, I was in favor of them doing this at the time and still happen to be with poo and gas at these levels. It's something that supports the divi that we're all going to be very happy receiving in the coming months / years, so I'm supportive of them continuing with a hedging program with lower production commitments in the next round.

Overall they've done a bl@@dy good job in turning around this company. Investor relations / comms could be improved, but overall you have to give them top marks for their decision making. Looking forward to the update tomorrow. AIMHO GLA

I'd be equally very surprised and disappointed if we get nothing tomorrow. They'd be unnecessarily putting themselves in the firing line of impatient PIs (myself included) if they went armed with nothing. As many have pointed out the Q4 production results are over-due versus Canadian peers. There's also an update on the H2 2021 & H1 2022 Canadian development plans that one would expect to be in tomorrow's presentation. And of course there's the many other things that will be questioned tomorrow - Nth Sea update, loan progress, thoughts on future acquisitions, plans for mounting fcf e.g. upgrade to divi, share buy-backs, or expansion of exploration / development plans... the list is long.

Either way it's great to see us building toward 20p before the presentation. We seem to be building a nice floor now at 19p so hopefully something pleasantly surprising tomorrow to go with the Q4 results and we're into the 20's for good. They know the questions that will be directed toward them, so one would expect they've waited in order to cover off as many things as possible. AIMHO GLA

Tony, the petty putdowns are what you've made a habit of doing on this board for sometime. Should we go back to how this exchange started? It's all there in black and white.

Regarding my binary bet, it really is the measure of you as a man when your only rebuttal comes from digging around in someone's history to find a single trade gone bad. Quite pathetic really. Just like your desperation to be recognized as some kind of expert on this board. Is it because no-one has ever recognized your semi-literate genius in life? Or was it your winning personality that has held you back all this time? Oh, and given your penchant for digging around in people's history, perhaps you should look at what happened after my binary bet on nccl. I'll help you - I made all my money back within months on RMM.

Tony, if you're going to assume the role of the smartest guy on the board with petty put downs to other posters then you should at least be semi-literate in your mother tongue.

'I did manage to figure out that investing in Coal Fire Power Plants in Africa with a Chinese Partner - is probably not a great idea and we’ll worth a miss - perhaps less attention to grammar and more to a bit of common sense might improve investment returns me thinks.'

Firstly it's 'well' and not 'we'll'. Secondly you've misused hyphens in your response. Finally, you should probably take into consideration my investment returns have afforded me the ability to make a six figure losing bet on a binary play, and still have 4.75m shares in this particular investment. Something for you to ponder while searching for that thing called a dictionary. I'm looking forward to seeing your updated spreadsheet later in the week.

Didn't get smart all of a sudden Tony. It's why it's easy to see you've never understood the difference between 'your' and 'you're', or 'their', 'there' and 'they're' for that matter. Not that you need to be all that smart to know these differences. Perhaps once you've worked out their correct usage you can add them to your famous spreadsheet for future reference. Let me know if you need any help :)

Guys, there's no missing dividend. They're paying H2 2021 and H1 2022 production monies starting in March and ending in December. The alternative was H2 2021 production paying in April 2022 and H1 2022 production paying in October 2022. All they've done is change how the payments dates are structured. One could be a little annoyed with waiting for a single big payment in April and instead getting 2 x smaller ones up until this point. Having said this, you continue to get monthly guaranteed payments throughout the year and it washes out over time. The great thing however is the higher base this has put under the sp. So a good move by mgt.

From my perspective it's a bit frustrating to still be waiting for news but I'm assuming that Q4 production figures are being covered in the call. I'm also hoping we'll have some updates on the following:
- H2 2021 Canadian development / reactivation well results.
- F/o
- Loan facility.
- 2022 Canadian development progress - how many drills have been spudded and when to expect initial results.
- Current thinking on how to utilize fcf i.e. higher divi, share buy-back, more drilling in Canada or Nth Sea

All quite reasonable to expect and discuss on the call. Hopefully something to chew on tomorrow or Weds at the latest so Graham gives investors enough time to pull together pertinent questions. Very good of him to be doing this as well. Not all CEOs / CFOs make time for investor Q&As, which is simply good mgt and long may it continue. But most of all they need to give us something in black and white on all (or most) of the above points. GLA

Putin invading Ukraine will only send poo and gas higher. So although there may be an immediate shock across global markets, our commodities are a good hedge against this particular conflict. Also a better hedge than gold for inflation.

News on Monday is needed. Looking forward to seeing Q4 production, an update on H2 Canadian drilling and reactivations, plus progress on the f/o and loan facilities. Many good news items for mgt to release to the market. GLA

Dip unfortunately would always occur, which is why it's important for the bod to get some news into the market asap. I'll be disappointed if we don't get something on Monday. My preferred day would have been today, so a number of news outlets could pick up the production results and feature in their weekend round-up. This is when a lot of investors do their research and keep themselves abreast of goings-on. Timely updates and accompanying PR are some of the very few things mgt are yet to sort out, but so long as we're holding above 19p when the news finally hits I'll be happy. With the right news and promotion i.e. +19kboepd and some good well drilling / reactivation results, then I can see us breaching 20p. They should also provide an update on the f/o, which I dream about being the reason why this news release is slightly overdue. Til Monday then. GLA

Thanks Scallop

Hoping someone can answer some questions. When Asos moves to the main market will there be stamp duty to be paid, or do the shares simply transfer to the other exchange? Also, does anyone have historical examples of companies that have made the switch and resulting sp action? No opinions please, just facts / examples.

Justbe, the declared guaranteed dividend is 1.05p per share. So it's .105p per share each month (annual dividend is being split into 10 equal payments). Worth keeping in mind this dividend can be increased in value, which I think most on here would like to see done if they're not going to use the money for the Nth Sea, further Canadian or an acquisition.

On a side note, hopefully we'll get the Q4 production update tomorrow or Monday. Leaving it any later is likely to see further weakness in the share price each day it's delayed. Good we're holding above 19p for now, but we're going to need news if we're to find support here, or finally break into the 20's where we ought to be. AIMHO GLA

Agree Jolly. I think the low level of buying today shows most people have taken their position. There could be a small post divi pull-back, but expect this to be filled in the 2 weeks prior to the next payment. Having said this, if we get some good production news we may not experience one at all, and instead jump by 10-20%, especially if accompanied with some +ve words on cf build, f/o, loan facility and/or 21/22 Canadian development program. The FT article gave us some strong volume so anything like this again will only serve to strengthen the 19-19.5p base we've been building for a week. All looking good for the near future, especially with poo +$90. Onwards and upwards. GLA

Remember anything below 21p is +5% yield. In fact the monthly payout is 20% higher given we're paying 1/10th rather than 1/12th each month, so new investors are getting an even better deal. Mgt do however need to provide the Q4 results. If they're very good then tomorrow or Friday would work well as we may get some weekend news coverage and it will counter any ex-divi pull-back. An update on the big one - f/o - should also be provided. I don't care if it's delayed. I'd just like to get some new guidance given we're 1.5 months beyond the previous statements. This is simply good mgt. They've done a fantastic job, it's now time to tell everyone about it. GLA

It does appear as though we have an OTC listing. Unsurprising none of us know about it given the daily volume. Agree Cenkman, mgt could do a better job of promoting the company. It annoys me to no end that 88e and PANR have mcaps well in excess of ours based solely on how they promote their respective companies. We could do better.

Have to say I'm surprised we're dropping back given there's only one more trading day for the divi. Nice recovery into close though. Would be good to get that quarterly production update tomorrow or Thursday morning. GLA