Member Info for Genghis15

Good luck pjoe , you are clearly well researched and likely more so than I; as I say they are likely a good bet, and my payment risk mb overstated.

I just reckon atm there are less risky postcodes to put my money, but for those willing to take that chance there may be good reward.

I looked at SDX and they certainly have a habit of finding hydrocarbons, and did a smart deal for the Circle assets.

I think they will do well, but am not invested ; bit nervous about payment risk in Egypt.

Boyzee
"small chinese companies on Aim but i just red flag em all ". Yes!

As I said, it's not a red flag. But it is, perhaps, something to be wary of, imho.

Some years a go I had shares in a dual listed miner, which abruptly cancelled its AIM listing. You're then faced with the additional cos/complexity of dealing in foreign currency on a market outside EU which can be less liquid as well.

Dual listings are often used by small early stage oil and mining companies , often AUs or CAn based, to raise cash in London. There is a perception, possibly unjustified, that these exchanges harbour rather more in the way of "lifestyle" companies than here ; and possibly more in the way of out and out cheats as well ; anyway for me it's a cautionary note.

That said I am currently invested in a bio co dual listed on AIM and NASDAQ. So it's not a red flag, just make sure there are not too many yellow ones!

pjoe

Absolutely.
Yje most important finance leson (well, one of them) is to learn the difference between capital and revenue.

Thart line is sometimes blurred but household analogies not only go a long way to explaining it, but if you can start to apply it personally your own finances will improve also!

Commonsense in a way but not everyone gets it.

Ricfle
Yes, agree with all you say on this thread.

S&S's approach seems to be unique, seems to offer compelling value, and they seem compellingly genuine.

All of those thing need careful monitoring but for the moment (and hopefully a lot longer) I'm a believer.

Roll on the day I can free up some capital elsewhere and add a little more here.

Me too, sir, me too!

Ricfle "there are some.....".

Yes, this one, and one other we could name, but not here.

Good advice from JK. Balance sheets are difficult without at least a basic training in Accy, but still important.

Only thing I would add is look at directors ; career, history, connections. Be wary of dual listings on Toronto or Aus. ( not a red flag, but a caution).

There's more, of course, , and I'm still learning, too.

PDSM
"We were discussing the onshore drill from Wytch Farm"

You may have been, I certainly wasn't. The point was to explain why Wick and Colter drills got their timelines swapped.

PDSM

You're getting hung up on this.

Npbody is saying permission to produce from Wytch will be a problem.

The point was that moving the date of the drill kept local interests onside and facilitates future consents.

The mechanics of planning policy are less important than the "soft" influence of a good neighbour policy towards important local industries, ie, tourism.

Well aware of it, thanks.

Just not relevant , really, to the point in question ; the delay to outside tourist season of the Colter drill.

PDMSPiper

I'm sure you're right about the outcome. Just it's a lot better to have the planners and politicos onside rather than fight you all the way and delay the project. I know the nimbys will nevr be silenced but by keeping the sensible majority onside problems are minimised.

PDMSPiper
I suggest you take note of Pjoe's comments.

You may think you know the planning law but you clearly have no understanding of how nuanced these things can be when local ire is aroused, or of the influence local politicos can bring to bear thru local MPs and other channels.
pjoe has experience, you do not, afaik. IU have no oil experience, but a fair amount in the workings of local and national govt.

It would have been foolish to needlessly annoy local politicos by pushing for a drill during tourist season when delaying it allowed them to present it to their residents as a victory. Whenever possible it is better to work with people, rather than against them.
Ricfle, for all his for all his acumen in other areas, does not appear to grasp this either.

No, PDSm, you're wrong.

Ricfle says what he thinks and there is often value and rigour in his posts, When he questions assumptions and asks for sources etc he is often on the money.

He is overly blunt, often rude, irritating, and will tell you clearly that he gives not a whit about social niceties, so inevitably he stirs up reaction on any BB.

Personally I wish he and aduk had not brought their feuding over here, but that's life.

Ricfle

The order of the drills is bcos of local sensitivities ; drilling of the coast of Bournemouth in tourist season was going to be problematical, so Colter/Wick sequence reversed. I cannot ooint you to a bald statement saying that, but a mish mash of information firmly points at such. I live near to Bournemouth and am well aware of the sensitivities around this.

"I mean if the whole concept of fractured basement WOS is disproved"

Fair enuff, I suppose it's possible, but given it works in other places, and there is just so much supporting evidence that view to my mind is akin to denying climate change.

The only risk to my mind is macro ; geopolitics and PoO.

If PoO stays stable or rises, we will be fighting them off with a stick soon, and not necessarily post FOIL.
If PoO crashes, we're back to 2015 and partners will vanish.

Well worth a listen, I know not all regard MGW highly but still worth it.

He makes a number of bullish points very well, including saying that "geologists I've spoken to at these companies (ie, majors) think it's gonna work. It needs BoD approval. "That has been my opinion for a long time now.

Listen to his other comments re FO/TO, all very bullish, "any international major will be having a look at this" etc.

The silly season is letting the SP drift a little at the moment, can't last too much longer, 'cos by Xmas (with the usual caveats) it must be well past £1.

Surprised none of the oilies on here have replied to your perfectly well asked question. Outside of my competence, I'm afraid, but someone must be able to help.

I'm trying not to get involved here, but, frankly, if you think £1+ fanciful you really haven't grasped what's going on.