Member Info for Genghis15

Aduk Thank you. That was my understanding, in layman's terms, at least, but I wasn"t quite sure.

V encouraging if so, would this indicate completion, an RNS able event according to RT on Malcy's the other day?

BNB Of course the co is not going to speculate like that but the possible(likely?) increases in reservoir size you posit are v likely true IMHO. And I think in many others better qualified than me. But in many ways it matters not. Our fields r already huge and will take decades of development and then extraction. Not sure how far extra barrels move the dial.

X trader I assume a fractured reservoir is different to a FB reservoir. Not having looked at Claire i'm unfamiliar with it tho.

Rob, thanks for clarifying.

redrobb a bit OTT there.

It was disappointing not to see PL in person but I think most in the circumstances would agree it is hardly a hanging offence! He did after all patiently take Qs for almost an hour.
And has solemnly undertaken to be there next year.

Oh, and btw, he and the Bod agreed to improve SH communication, I think by means of webcasts or interviews, wait and see.

Remember we know from AGM the AM is already partly crewed up.

I know that doesn't entirely rule out a tow, but it seems to me to make it less likely.

Fwiw, this was JJ on 19 Feb 2018
"With a $30m cash position, Sound is a well funded exploration company. We are planning on each of the 3 wells costing $7m (slightly more with flow tests), and Sound's share of that is 75% ie $16m. We don't rule out of course raising small amounts of capital for the on-going running of the company. The development project (Te-5) involves larger spending, and we are looking at ways to fund that without diluting the equity holders."

and
"for exploration drilling we are relatively relaxed - $30m cash vs $16m cost - and any equity raise for exploration would be small."

On 21 May "When would be the most likely time for a cash raise in your opinion : before drilling, during the three drills or after the results of the drills are known?

JJ Traynor (Chief Financial Officer)
Thanks for the question. We have line of sight on about $25 million, looking at the bank balance, and monies we are due from the exit from Italy. I wouldn't be too prescriptive on when the 'right' time for a raise is."

So there we are, the door was always left open. I didn't see this coming either, but more fool me. I had intended to scrutinise the cash position post accounts, but got distracted. Lesson learnt.

Thanks, abjasus

Agree, gumbo.

Come end August/early Sept, off we will go.
Patience, I'm hoping to drip a little more in here before then.

My recollection is that he said they were always on the lookout, but would only move for the right asset, would not chase deals for the sake of it.

Can anyone point me to the investor chats on the website/

can find audio and video, but not the new style chats.

Thanks

I did not take notes, so will leave it to robaich to give a detail report if he wishes.

Broadly, PL was on phone from BA and there was some pretty robust questioning, not least from robaich himself, including as to why he wasn't physically present.

Pretty much all past disappointments were raised, they were all acknowledged with lots of mea culpas, and optimistic noises for the future.
Dividends were ruled out for 2018 or 2019, but not for the future, capital raise was not entirely ruled out, my understabding being that only if an attractive acguisition came up would it be on the cards (my words, not PLs).

Company cash flow positive. Vaca Muerta shale activity ruled out, but not conventional or dual play.

Criticism of failure to drill Paraguay "by hook or crook" in 2018 acknowledged, better opportunity in Argentina led to changed plans.. Encouraging interest re FO in Paraguay, but should drill regardless in 2019.

So, nothing new, as you would expect. PL came across as genuinely disappointed in Sh returns, stressed his 305 interst and alignment with SHs, and still sees a bright future.
Fairly comfortable with Arg political situation.

Anybody wants to question me on this I'll do my best to answer.

Ricfle I'm afraid to say that muddled thinking is the only sort that is happening in many places atm. And i'm not talking about the BB!

Ricfle "We know Hurricane's exploration wells do not flow well" Not sure about that? Afaik early wells did not try to get flow, tho I am open to correction. 2014 on only Halifax has had an issue, which has been well explained.

OK, i'm on bus now from south coast, should b there in good time. I've known of ppc for I guess 4 years and been in and out couple times, HUR being my main interest. Speak later.

Yes, and you?

I'll be the Yul Brynner lookalike.... well, sort of! if you fancy a chat.

I may have posted this b4 "The market is a device for transferring money from the impatient to the patient"

£5 ish was dspp's valuation 12 to 18m after FOIL.

Who knows, buts certainly a possibility.

extruder makes a good point about the lag between FOIL and cash. I don't guess they would fill the AM to capacity b4 offloading, but say FOIL 01 Dec, first offload end Jan, HUR might get paid mid March.
Reckon that could be good enough to get a rig lined up and fit a couple drills in, at least, next year.

LW
Either or both of your assertions may be true but the interview is mute on both.
RT spoke of potential farminees "wanting the lot" and of proving Lancaster thoroughly b4 a farmin/sale, but that does not mean someone might decide to jump in early. You never know.

He spoke of other basement prospects potentially available to HUR in the future, but made no mention of his own future. He will have a good team behind him, he will a very wealthy man if HUR is bought, and he's 57 or so.