Member Info for GingerBear

JUst a quick line to say thanks to all you guys for the positive and not so positive feedback. A balanced view can only be drawn from the range of opinions from those who attended. It strikes me that the majority see the day as a reinforcement that this drill and the next could be a real game changer for LTH (and Short term holders if they get in soon) and for Morocco. the fact that Repsol and Shell are both going for the Paleo simply reiterates what has been the plan all along - to get through the Tagi and hit the pot of gold beneath.
GLALTH
Gingerbear
ps The last bloke that I knew who wore a fez was a real comedian but he died on stage.

Morning campers
following the article below, if 60mcuffs a day x 365 x 10 = 219,000,000,000 (219 billion scuffs) or 1/3 of the current gas volumes attributed to TE5 and we get a GSA of $7.5 then the retail value of the gas is in excess of a staggering $ 1.6 trillion .
Suddenly the whole of Tendrara and what JP is touting around the world becomes almost unreal.
If one assumes that production, drilling, piping, distribution etc takes away 90% of that value the buyer gets
$160 billion over 10 years and no tax?????????
Sounds like a good deal to me.
Roll on GSA
Gingerbear

Thanks to Bobee and SO for feeding back on last night. It appears that the team are all wearing Brian's happy face.
Good news that the GSA is in place.
Would be good to know what rate JP negotiated or was given.
Roll on october
Ginger bear

I have just re-read the email that JJ sent to me after the Norwich meeting and although we seem to be in the doldrums in terms of real meaningful share price lifting news I was heartened by his message.
If I read it correctly the value per TCF to share holders is £1.50 per share, based on the economics of TE5. by calculating sale value of gas (£4 billion) and deducting all costs (for extraction, tax, whatever )and using a 20" pipe the £1.50 was what was offered.
A reduction of 2% in the discount rate would show a uplift on share price to £1.80.
I guess this confirms that the development of TE 5 will happen and currently share price should be around 75 - 90p not counting any further discoveries with Te 9,10 or 11. Or any working of older drills te 2? etc.
So I guess GSA is really about the final value to us LTH's and hope JP is still doing what he does best, driving a deal somewhere.
News of Sidi would be good.
So chins up and don't forget that patience is rewarded (hopefully in this life as well as the next)

Ginger Bear

Sadly you are probably right and this sort of bias only adds fuel to the number of Donald Rants that will continue to blight the truth. As Pratchett wrote..a lie will travel the world before the truth has got its boots on... or words to that effect.
At least Angus wasn't named as a fracker. especially as we need positive vibes on Wednesday. The drop to 4.5p helped me to recover from the 30p buy I made. All to play for now and the good news on Wednesday, along with HH proving up the 4 layers of oil bearing rock will help us all be better and wealthier people, as individuals and as a nation.
Wytch Farm was a belter of a find and by all accounts the weald under Surrey and East Sussex will be as good with 110,000 barrels a day for many years to come.

GB

Just a quick post regarding the misrepresentation of Angus and the Weald oilies by the Thunderer.
They have reported in today's market report that "a successful flow test at the "Gatwick Gusher" sent fracking companies flying. Horse Hill Development.....(Page 54) Louisa Clarence-Smith.
Careless reporting as none of the companies mentioned have fracked in the weald. Why would you as its naturally fractured.
Email to Times on its way.
GLALTH

Ginger Bear

Afternoon all
I am still here like a bad smell.
Several months ago I put forward the idea that Schlumberger would be taking over the Sidi prospect and develop it as its own field. Then JP announces that a farm in is more to the boards liking and as yet no takers have been indicated to the little ol' P I's until today . I seem to recall that there is more seismic happening at Sidi as I write so do we have a farm in partner or not????? and will they get the first bite at our slightly smaller cherry.
A one off cash dividend for Sidi from the Farm in would do nicely..say 10p per share (until November 2018.)

Ginger Bear

Do my eyes deceive me or was a trade for 2,000,000 shares reported at close yesterday.
?RNS Monday ?
Any offers

Ginger Bear

Afternoon believers and non-believers The final location seems to me to be more or less what Brian and John were discussing at the meeting in Norwich. They had very high hopes ("this is my excited face") that the final drill location would be the indicator for the 5 "A" structures that would prove up the TAGI basin and allow the bonus of drilling into the Paleo to see what lies below, and to possibly prove up the reservoir that supplies the Tagi. The salt dome is right across the basin (1km thick) and if I remember correctly the location is the shallowest point of the 5 A structures so less drill time. And before we forget the Partners to which the RNS refers isn't just Schlumberger, it is also ONHYM and the pipe line consortium, because why build two pipelines when 20" can transfer Te9 gas to europe just as easily as Te5 gas and perhaps Te7 and Te2 for the new owners. I may be wrong but the whole package may well be the biggest development in recent years and to allow a debate over £2 is just way below the final figure. JP quoted "a four figure sum" at the Gherkin and I has seen no evidence to say that this will not be the case. The gas is there and we will find more and more of it..unless we are bought out after 1 drill by any of the Companies and Nations watching this story unfold. With our find we could buy the world cup in 2030 for Morocco. Ginger Bear

Evening all I may be wrong but was it not reported that Sound Energy was in fact at least three separate companies under an umbrella company. We sold Sound Italy as a lump (but held a small retainer for Laura?) and I think Sidi Moktar and Tendrara are registered as Sound West Morocco and Sound East Morocco. Probably wrong but if that is the case then we can sell to two different buyers if the market so dictates. Can any of the experts confirm this please. Ginger Bear

I am looking at the farm in with some interest, especially since Schlumberger pulled out of the big LPG deal with Ophir in Africa earlier this week and have apparently got a better deal to go to. I did suggest some months ago that Schlumberger might be the best organisation to get involved in Sidi, as they know the background and have the Technology to build the infrastructure. Only a wild guess of course. Interesting days Ginger Bear

Evening each A better day for all I hope and just a quick follow up to Crude and the way in which JP is looking to the LE. He seems determined to get the best deal for all investors, and suggested that getting it right is much more important than getting it fast. He described several scenarios and said that the board will only take a deal which is worth it. Cash is best, but contingency might help to raise final settlement to a higher price. But he acknowledged that such a deal doesn't suit all holders (the time issue for us senior investors?) and the board would recommend a cash buyer if other offers were marginal. And yes...he is planning his exit but who isnt looking to the future. As an aside I happened to get a Golden Ticket from my opticians that very morning and offered it to JP suggesting he should have gone to.... yep Specsavers. He responded in an appropriate manner but didn't hang on to it. Ginger Bear

Apologies I forgot to mention that JJ reads the share price in a different way to me. The rapid rise in oil prices means that investors (both II and PI) are chasing the rising profits that oil and gas producers are benefitting from. They will not be investing in exploration until this rise has stabilized. Investors are playing the short game and the Majors need to play the longer game so will come on board when Sound produce the evidence.. seismic or discovery.

Morning all Having attended last nights meeting I am feeding back what I believe were points of note, and having read this mornings board I wonder if I was actually at the came meeting Brian spent a lot of time and effort to explain in detail the reasoning behind the decision making for Te9 and there are 5 possible locations (A -E). They have decided that the location labelled C will be the first drill (subject to confirmation with Schlumberger and Ohnym) later this month. Location C is very very similar to Te 5 and is one of the 5 A structures already discussed in the Bristol video. The benefit of C is that it is situated above the Tagi sweet spot and is where the Paleozoic threshold (ceiling) is closest to the surface - an anticline structure beneath the Tagi sandstone. Brian and John were "excited" about this as one drill might be able to hit both Tagi sweet spot and discover more about what is in the Moroccan Paleo. If the well can be deep drilled without any problems into the paleo this is the best option. By drilling C they are convinced that A,B, D and E will then be proven through the seismic already analysed and will give multiple TCF outcomes. The paleo will be the bonus information gathering. Te10 is already identified and Brian stated that they are very confident about this well and its potential. Why not drill Te10 first was asked and Brian was keen to remind the meeting that Te 9 would prove the other 4 A structures and therefore be a better marketing proposition. The other points, especially JJ pointing out that the Majors..Shell and Repsol are looking over then fence at us, not the other way round. SDX was not mentioned other than in passing, but lets not forget 2 things. They are a production company and their finds are going to be very short lived ..they are competently replacing old extracted pockets of gas with new ones. The other point I would make is that JP was very coy about the project that Luca was working on and hoped to report on the outcome in the near future. No matter what you think of James and his team I believe that it was a strong call to stand in front of his major investors on camera and defend his position. He took some flack and responded in a positive and clear manner. In my opinion the team he has working for us are enthusiastic, well qualified and are all stakeholders in a major effort to put money in our pockets. The 7 TCF from Te9 and Te10 combined would be worth (give or take) �1.50 per TCF per share NETT to investors. Stay long and strong and if I had more funds I would top up at this rediculous price. Over to you trolls now and please try and use facts rather than just being abusive. Ginger Bear

PNE79 thanks for the voice of reason and well put. The whole gang appears to be out this week trying to get in as cheaply as possible and sadly the less convinced investors are selling instead of buying. I shall be there tomorrow night and will feed back as soon as possible. Cannot record either sound or vision but hope to make notes on the key points as I see them. I will be amazed if any comment made on share price or share dealings as no one has control over the market but hope to have a free and frank discussion on the first drill now that seismic is finished, the A structures and the COS improving and the future of sidi and Luca and his project. Do we have a full suite of directors yet? Shell, BG and BP Ginger Bear

Do we really think that Golf Balls will be the main driver of versarien, or are we just nibleting at the edges. I'll get my coat. GB

Come on Guys This is the thin end of the wedge. Ginger Bear

Thanks Webstar for pointing this out. It makes good reading and may be a useful prompt for other giant pharma's to take an interest. Held Vectura until just before the merger and did well from that. Now have a few on the back of the buy back scheme and hope that the uplift will begin in earnest this year. GLA Ginger Bear