Member Info for Genghis15

https://twitter.com/hurricomms/status/1036500195557691392

Let's hope for an early update tomorrow!

And still there today!

Surely she must be "off round the lighthouse" b4 much longer.

We're not that small, any more, tho.

Include the CVBs and we're way past £1BN MCap now.

Thanks, laser, very interesting for us ground based folk.

Beg pardon, belay that. . Thought it was a different vessel!

SIPP, do you have a link?

V significant if so.

I may seem like a newcomer here but I held these share back in 2014, sold and forgot.

But they came back on my radar a while back ; today's rise simply a spike from the JW coverage imo.

But whilst JW is not a guru of mine, he has followers and will have shone a small light on BZT.

This is imho a high risk play but the upside if a partner can be found is simply huge, and the backdrop of copper demand and investor sentiment is very interesting indeed.

I will be taking a small punt here on any dip, and think there is a fair chance of a deal materialising.

Tweet from JW this am and link to 03 June blog.

That's done the trick.

https://twitter.com/SharePickers/status/1034732562713849856

https://www.voxmarkets.co.uk/blogs/3-reasons-add-bezant-resources-bzt-watchlist-2/

How many times have I read that?

Insofar as these tables can be taken at face value, someone appears to have bought 2.5M shares just now......

I am confident FO will happen.

I just don't trust timetables of any co which is seeking one ; it seems to me that will always be dictated by farminees.

He who pays the piper…….

You can't compare, imo.

It's not just a question of arithmetic ;Lundin has debt but crucially it has cashflow ; HUR does not, as yet. Lundin is self financing even after debt servicing.

HUR has assets, requiring substantial further investment just to prove up, lots more to get to production.

Trying to arrive at comparable valuations is like trying to compare a crate of beer with a barrel of molasses.

You just can't do a meaningful comparison of MCap with a co that had net earnings of $265m in the half year to 30/06/18.
Different debt, different 2P, different everything.
just cos they've drilled a similar geological prospect , there is no financial read across re Mcap.

There may, however be some encouragement to the majors to see that someone else is taking basement seriously ; better get a move on, guys.

Might just get the herd moving.

Ricfle

"Genghis15

"Interestingly, HUR have just tweeted a link to Lundin' press release. link here"

-------------------------

"Not really, as Hurricane were advising Lundin on this drill."

that makes it even more interesting, I would say!

Interestingly, HUR have just tweeted a link to Lundin' press release. link here

https://www.lundin-petroleum.com/successful-appraisal-well-and-production-test-on-rolvsnes/

I note as well that DNO "raise concerns and dismay about the wider governance culture and shareholder value strategies of a company".

Making vague and almost certainly unfounded allegations like this is reminiscent of allegations from one of our shareholders last year.
I have no doubt Faroe will put up a spirited fight, but I fear for them and for the real LT interests of their shareholders.

Be grateful we have Kerogen as major backers, and not these guys.

https://www.nasdaq.com/press-release/dno-withdraws-request-for-faroe-petroleum-shareholders-meeting-20180827-00032
Faroe now have a fight on their hands to avoid going the same way as Ithaca, a hostile TO at a small premium so that the predator can take the rewards.
Make no mistake that HUR are at a similarly vulnerable stage at the moment, and if our major shareholder were to look for quick monetisation a shark such as this could be found ; many of us think that this sort of thing was warded off last year prior to fundraise.

Kerogen have so far shown themselves to be committed to the LT, bcos they see it as in their interests as much as ours. We must hope that continues.

I should also add that there is no guarantee of "all back costs for the buy-in share will be refunded to Europa".

This is/was the normal model ; but in these times nothing can be taken for granted. TBh any FO which carried us for drilling would lift the SP so far (imho) that even any small raise to keep lights on would be immaterial.

"companies have to put their farm in offers by October"

I would not put any store by that. We are looking for investment, and will have to wait for as long as it takes to get a serious and acceptable offer. HUR have waited 4 years, tho that is both during a downturn and on a reservoir perceived as being unconventional.
My own guess (and it can be no more than that) is that as long as PoO holds up something will happen either in Q4 or in Q1 2019.
I could be wrong.

by October 2018.