Member Info for gordon1237

Agree absolutely Jasper. No question of a jv until the refrac results are in. Indeed the the whole point of the refrac, is to prove the technology and hopefully drastically impove the terms of potential jv's.
Gla.

There cant be anything else other than what the meeting was scheduled for. Ratification of share issue.

The meeting is purely for the ratification of previously issued shares, same as the one on June 8th last year. Anything else would have had to be in the agenda.

Callum. Perhaps someone will " make us an offer we can't refuse". Atb.

Can't help but wonder why the industry still uses these archaic units, mscfd, mmscfd. What's wrong with cubic metres. No doubt thr American influence. When I retired a few years ago from measurement science, we had an American client, who was one of the world's leading Aerospace companies, who insisted on the strength of their materials being quoted in pounds per square inch. This about 40 years after the rest of the scientific world switched to SI units. Gla.

Careful Jasper, or you will be accused of being negative. Lol. Only kidding. Wonder, if that number will be renegotiated at some point. Atb.

Sorry ncar. I certainly do mean it. Where have I put a negative slant today, or any time recently? Unless you count quoting something that Roland actually said.
I am invested here, and want it to do well. Just because I dont think it will reach 1p thid week, doesn't mean I'm negative. Atb. Gla.

Yep. You go to bed and it's a gamble whether you wake up. Lol. As for Cambay, as Roland said " It's not a slam dunk", but we all hope for the best. Gla.

a lot of the cash burn would be there anyway

The initial flow rates from 77h in 2014 were around 1mmscfd, more if you convert the condensate /oil to gas equivalent. By January 2016 this had declined to 5.5 million cf in the whole quarter or about 60,000 cfd,about 6% of the original.
https://www.lse.co.uk/news/OEX/oilex-says-cambay-production-falls-in-fourth-quarter-rwecucp88r329x8.html
They did say somewhere that the hope is that being shut in for 3 years would give a pressure build up and increase the flow again. They also said they expected the revenue to just cover costs, and Jasper calculated the revenue would cover 70% of the monthly cash burn. Of course a lot of the cash would be there anyway, so the restart will be cash positive. On past experience the flow rate would be expected to decline again.
For the above reasons I don't regard the initial flow rates as that crucial, welcome though the revenue will be. It's the refrac that's all important. They say they hope for 3 to 5 times increase, which presumably means with reference to that initial 1 mmscfd. Even the lower end would be great but of course we won't know until we get the results hopefully by the end of this quarter or early next.
I for one wont be disappointed if the initial flow rates arent that great. Be interesting to see how the market reacts. Atb. Gla.

Good choice BP. Some of us are old enough to remember that coming out, and then being played on that momentous night in 1969 when Neil Armstrong strutted his stuff on the moon. Atb.

Fair enough Gareth. I've never been able to take charting serious for a share like this. That doesn't mean I wouldn't love this to take off like a rocket as predicted. Atb. Gla.

Pottery classes going well then Sos? Lol. Stb.

Can't see that Aiming. If production starts next week we might get to the high 0.2's. Gla.

Yeah. Quite knackered. Lol. Have a good weekend all. Gla.

So after, all the toing and froing, ups and downs, we finish the week pretty much where we started. You couldn't make it up sometimes. Gla.

Double, double toil and trouble
Fire burn and chartists bubble
Cup and handle, fork and spoon
Believe this stuff if you're a loon.
When shall we three meet again
At the 1p party, who knows when.
Only kidding. Gla.

market forces.

Yes Mike. We know they are not accurate, especially when the price changes quickly. Pretty sure it all averages out, with sells showing as buys. Obviously, buys and sells must ultimately balance. Just irritates when everything has to be an mm plot rather just market forced. Atb.

Nothing to do with 35 million buys and 70 million sells then.