Member Info for gordon1237

LSE have deleted my email exchanges with Roland. I presume this is at his request. Earlier he emailed that he had learned that our exchange had been posted verbatim on a bulletin board. I replied that I often do that as it is useful information for other investors. Also that I assumed that our much appreciated exchanges contained nothing confidential or price sensitive.
Baffled.

Don't know what you mean by that Jack. A full field was always planned and will still happen if all goes well but it was never going to be all at once.

Jack. I didn't say they just want to drill one or two wells. Just that they will only finance that to start with. Assuming success, of course many more will follow.

Admire your optimism Jack. There's no way on earth any jv will put up enough to finance the full field development in one go. Probably be enough for 50% of the first one or two wells. Once they are successful more will follow.

No need to apologise Espen. I likewise wasn't having a dig at you. You are always very fair. I am just angry as you can probably tell.

Espen. This from the quarterly report a month ago.
"In order to optimise gas and condensate production, the Company plans to engineer an artificial lift solution and install a pump into the production string to eliminate fluid loading. Such a solution may lead to a resumption of production from the original 4 fracced zones in the C-77H well which have historically exhibited serious fluid loading."
" historically exhibited serious fluid loading."
So they knew it was a serious problem and still didn't prepare for it.

Espen. I do try and apply my own logic and usually get stick for it. A few weeks ago when I said it was looking increasingly likely that there would be no new wells on Q1, I was told I was making things up.

Jack. I wouldn't claim to be an expert but from what has been said previously, I doubt those old oil wells are suitable for fracking to produce gas. The plan has always been to prove the methodology with the refrac and then drill the nre wells on an untouched area.
In the light of Vf's news about the delays I think we can see the reason why they are so keen to generate income.
At this rate, by the time this comes good, I will be too old to care. Gla.

Hi Jack. There could be more oil to be had from some of the other old wells. Who knows? After all, the ones they did restart came out of the blue.
However, there is no question of refracking them as they were not fracked on the first place. They only fracked wells were 76h and 77h.
The restarted ones seem to be just oil wells, that are giving some much needed income. If they did restart some more and/or increase gas production from 77h they might get the cash flow to break even. Atb.

Doubt it would be worthwhile sausage. Although the current oz price is nominally 0.1 cents, equivalent to about 0.06 pence, I would think the spread is massive and if would be much more than that to buy. Perhaps one of our oz posters could do a dummy trade and let us know. Would be interesting to know.

Thanks sausage. They must transfer 1:1. The price is irrelevant. It only dropped to half on the delisting news. Prior to that it was roughly on a par and anyone buying at any particular time would have paid a similar price in the uk and oz.

Sausage. Transferring the shares won't og itself cause a dip. That will only happen if the oz holders then sell in large numbers. Hard to say if that will happen. It's possible many are waiting for the transfer before selling as at the moment the price is much lower there. Time wiil tell.
Although I think the delisting is a good move, the timing id terrible with the sp being at such a low ebb.

Incorrect. Quite a lot doing. The extra revenue from the old wells means a significant reduction in monthly losses.

Serious question Conger. How would you suggest they could market it any differently? Currently they issue rns's and Roland does the odd Sharetalk interview. None of that seems to help the sp. Years ago they used to Investor events. Called something like a Good Oil Presentation. No idea whether that would help. Doubt they will do much until after we get to the jv stage. Atb.

Well. I suppose anything is possible in the longer term if Roland's CCS plans come to fruition. I think he was talking 2026 at the earliest. Cambay needs to succeed first though.

Tough one Steven. I'm guessing you need it to at least treble from here to get your money back. Wouldn't want to give advice but personally, I would wait until the jv is announced. No idea what that will take it to, but assuming they solve the condensate problem, it's got to be more than now. I know others will disagree but I can't see it going to multiple pence in the next year or two. As for bitcoin, you might as well take it into the betting shop. Always seemed to me like a cross between a pyramid scheme and a cult. Atb.

Judging by the piddly 100,000 shares traded overnight the vast majority of holders on asx will still be holders on AIM. Obviously what hapoens to the sp depends on whether they continue to hold longer term.

BTW. It is not true to say there is no regulation on AIM. There is less than the main market but not none.

Nak. I repeat. This is not dilution. The asx shares already exist as part of the total of 8.4 billion. The only way this could cause a drop is if there is a mass sell off after the transfer, due to oz holders not wanting to be on AIM.

Exactly what I make it MrMolla. Even if the oil fell away to say 30 barrels a day it would still come to sround $150 k per month. So there will be a hugely reduced cash burn.