Member Info for GeoChem

Talking about SE., there is now a group of nervous investors who are worried that the well should have TD'd by now and that there is no news. This is normal and will probably induce enough selling to "wobble" the SP but nothing has changed and the situation is in reality on track. 2-4 weeks and all will be clear. The canuk boys have said that it was over-bought at 43c and would be bound to retrace, they are right. This is typical "while drilling" volatility with the herd instinct added. You need to be a little patient here. - Geo

There have always been some strange days with SEY, false rallies, this could be DOB who may again have been excluded from the placement discussions and in pique has gone and bought yet another chunk. There are a whole range of issues here: 1. - Placement could be defensive to render a share buy takeover impossible. 2.- They could be just too tight on the Borrowing base, but this is dubious as they would have come up with this right after the AGM, not now, at the last minute. 3.- They might now know they need another 5mil to test Sangaw, probably early 2010 so they are getting the funding through the books now to ensure their funding as they cannot trust the banks anymore. 4.- Their could at last be a serious T-O offer, SEY want to hold on past Sangaw as the value would be triple... remember they are all S/H on the board. 5.- The chinese may be coming, having bought Addax, they have all the data and dont just want 20%. At the end of the day, I am fully commited here with ~20% of my portfolio[initialy]... others have moved on since, here... I will play out till the end as I would rather lose it than settle for 10%. - Geo

Frankly I find it hard to credit that this Luckya knows anything, the meeting with the board, America meetings, hot line to the president is all BS, Claims has XXXK £ in SEY, if thats the case why post on a BB, if its true it is Insider trading so why throw it all out there??? There are also too many names cropping up here that I have seen before in some of my shares... stirrers. I think a few people have jumped in at 3.5p and are now worried about their 500 quid going down the swanee and think they can whip up a rally, as you both know, with SEY and the volumes involved it is just not credible to do that. - IMHO/,,Geo

I am not sure just what to post on this,.... the T-O is a real possibility but would have to be above 6p, the minimum "hold" SP of all the major players is above 4.5p having checked through all the trade/hold records for about the last 4 years or so. You need to remember that I came in Sept last year-ish and paid 6.3p when it looked a bargain coming off 17p... Gartmore/Invesco/Capital/Ruffer were all big holders at that time. Yes the placements have diluted, but not getting them below 4.5p. The Argie offered 3p I understand from the press and was sent away with a flea in his ear. BUT... the whole situation with GKP may have made one of the biggies look for a buy to get a KRG license, BP would be possible as they got the single deal from the Iraq CG and so dont need to worry about upsetting them anymore, also shell/exxon both walked away from the production sharing deal as there was nothing in it for them. They are not interested in $2 per barrel, they want at least 50% of the $85 p/b. If it is a serious take-over. no way less than 6p/sh IMHO.

With regard to all the other conversations that have been placed and avoiding anything showing on the sidebar, evening folks, SEY issues, to much froth over there right now with too many newbies rampers/derampers and pratts. There is no way on gods green they can issue 5bil shares, they may as well pull the flush, ther could not be take-up as the paper would be worthless, it's just like the macro-economy, HMG cant just print 500bil pounds and put it out there, the economy would be shot. I think all the speculation is just that. Geo... anyone there?

Nice to see you both here, it's a nice private place to chat until the Radar here goes off, with the SP changes it is only a matter of time. You need to be wary of the MM's doing atree shake over here in the next week or so, they may well push the price down for a couple of days to try and rattle the unknowing. I doubt you are in here spooni, I would say it may be just too late to get inside with the SP having done about 6p over the week or so. I understand, there is very good news around the corner in the timeframe 3-6 weeks though deepends on the RNS stages. They could issue one to report at TD/Logging/initial well prognosis, geology sand size Etc. Etc.. and the Well Testing would be behind that, or keep it all back to the end... I don't know. If you use the links I have posted over the last couple of weeks you will get to Investor Village BB for SE where you will find a lot of very interesting speculation... from my contacts about 85% is correct. Timings are all wrong, I know folk in Aberdeen who can tell me what is moving through the docks and going where and there are comms all the time. From what I have heard they are not quite at TD yet, but all looks good.. better, don't know about the coring stuff yet but asking around. You need to remember there are folk coming on and off the Guardian all the time, bar chat etc. You can get all the Geology off the Stratic&IFR websites, there is enough there to get the jist PLUS the links I posted about oilexco.. Geo

You should exceed that, my guess is about a month beforethings warm up significantly. Regards - Geo By the way, sorry about the Luckya Twerp over on SEY, clearly a newbie with no clue, comfort yourself with the fact that he's is probably just on the start of a extended losing run-....twit. All the Best - Geo

I think this will only get stranger... in a good way, when you say out now you don't mean sold do you? More to come I think... Checked over on TSX and IFR is still passive. The folks over there have had three NSea dusters and are nervous about this one as it will empty the piggybank.... BUT, if it comes in... well I posted the numbers to you the other day. There is some strong volume in IFR but some are selling, long termers, and a new kind of buyer is taking their place... the tide is only starting to turn there. Cheers - geo

SE opens up 3c higher after TSX-V opens... UK prices following by the look. Rember that if you decide to sell these shares at any time you never take the given price, just below mid is the norm, looks like more gains coming here though. IMHO/DYOR - Geo

They drilled on with the "end" of the water injection well to look at the new formation, proved up a new panel of oil bearing sand then closed it up to allow the top to be used for pressure support of the main field, Don SW I think, the new oil structure will require a separate well but they know it is there now. It shows there is still exploration upside in the area where they have put the Northern Producer and production wells can target incremental oil plays... v.good news. How is your XTR doing, had a look over there recently? - IMHO/DYOR - Geo

You are the one with all the info links!!!! You need to extract your finger and get over there... to your computer!!! Is it still suspended???? What is going on???? -Geo

Think I know but cannot say ....anything for sure..... Geo

Link: http://www.investorvillage.com/smbd.asp?mb=13216&mn=3577&pt=msg&mid=7725827 Cheers - Geo, looks like a lot more upside if any of this comes into SE.'s block...?

Mikey.. gone for a while.

Just because there was gas near does not preclude oil here. I feel 1 Bil Barrel Oil, dont forget oil seeps at surface. Really does not mean that much BUT in KRG there are about seven different horizons which are hydrocarbon bearing, most oil, the formations range from GKP's level shallow to about 3000m with a lot of HP/HT zones in the middle. That is why GKP had to drill a shallow pilot hole, their main target is another 1500m deeper, the shallow stuff is a bonus though. One of the Canuk operators had to abandon their drill as they had HUGE mud losses and ran into mid-depth HPHT zones they could not control, then they could not case so had to abandon. - Geo

There is a range of assets here, Crawford redevelopment [next year], Crawford is a sleeping Giant, Bowmore, Longanesi is sell or good returns, Syria was a buy from Grove Energy, their old holders reckon there could be a biggy here... there is potential in that it is a continuation of the Zagros Fold. Bowmore could be very significant from all I have picked up on the jungle drums, Some of the buys look like offtherig types, either way it looks like the revenues from W.Don, I worked it out to be ~ 120mil a year will keep them in beer and skittles and allow them to develop/drill without any debt, the management here are all ex Enterprise Oil who Shell bought for 4bil a few years ago, they know what they are doing. There is also Cairngorm in the N.Sea... this one is like Bowmore WAS... a bit of a wild Card but it was discovered by Enterprise. Pretty unique in that it is "fractured Granite" reservoir, these are common in S. America but no knowledge base here in the UK... could be anything. BOL - geo... any news on the suspension, can't see anything myself???

Going to SEY for a while. - Geo

is why you are here... probable 1 month. - Geo

In the business knows this, the big oil price drop has put masses of projects on hold, appart from the Excess floating around in Tankers right now when consumption restarts ther is a big shortage. The US consumption reports show that there was no US decline in petrol use over the summer, consumption is at minimum and yet only 2-5% excess available.... meanwhile Chine/India and all emerging economies are all out buying Cars... take a guess as for 2011... $120/BBl would be mine but we will get to $250 in next 5 years, - Geo

Long term here and have a very high exit point as I see very good things here. The Asset base is best in class. Geo