Member Info for gordon1237

Conger. I am pretty sure they did want shot of it given that they tried to sell it once before in 2016 I think. Oilex made s bid. They did sell then, presumably because bids weren't high enough. Ironic really when they must have eventually sold it for much less.

GSPC in theory owed Oilex about 5 million usd. They lost multiples of that spending years trying to recover that amount.

Kaltersee. It's a good few years but that's irrelevant. The 58 million is the NPV10 value for 10 wells. That stands for net present value discounted at 10 %. Which means at whatever point profits are made in the future they are discounted at a compounded 10% per annum to give the equivalent profit in the present day.

Candlestick. You really can't judge it by what gspc sold their 55% for. Because of the past history of failure they considered it worthless and just wanted shot of it.

Last August's presentation (reissued November) gave a total profit for a 10 well model of 58 million usd. Extrapolate that to 30+ wells for a full field development and you are looking at 200 million usd or about £160 million.

A short term valuation will come from whatever the jv pay as a free carry for 50%. That obviously won't be close to the above but we hope it will be enough for a substantial rerate.

We wait with interest. Gla.

JP. It's on the grey panel just above the big blue Post Message panel

An objection could easily have been from someone on the board who wasn't involved with the negotiations.

I asked LSE again why the rns from yesterday hadn't shown up.

" There's been an outage at the data centre that's still being resolved."

A week ago we were told it was just waiting to be signed off by both parties boards. My guess would be that someone on the other parties board has objected to something. Hopefully soon sorted.

Too right. It's the replies they want.

Jack. It's already very embarrassing.

Can't believe this mornings rns still isn't on here.

Bob. You'd think once operatorship was transferred to the Farminee, day to day costs would reduce considerably but again that wont be for a good while. As you say, all speculation.

Whoops should have said " There are also further shares to come from the convertible loan ".

Bob. Yes it is a little over 10 % dilution and a little under £2 million. Not sure what you mean by short term but it could be 6 months or even longer before we see cash from the jv. There are also further shares to come from the jv.

If the warrants are exercised soon at 0.14 that may negate the need to raise. There id no guarantee it will be soon as they have 3 years to exercise.

Bob. Unfortunately that payment is not coming until after GOI approval in 3 to 6 months.

The usual reason Bob is running out of cash. Hopefully not for a few month yet.

From LSE

" We've raised the issue with the data supplier, just waiting for an update currently as no RNS releases were sent through to us this morning."

Have emailed LSE as to why rns not showing.

Espen you may have a point, but the pressure for further updates only came when they had already missed previous expected dates given in both tweets and rns. If they had stuck to their original 90 day time frame, we would still be waiting but we wouldn't be moaning about missed deadlines.

Cox. It also seemed imminent in the rns on 22nd January.

" Progress has also been made on the farm out agreement and joint operating agreement and the Company and the Farminee are aiming to execute these agreements before the end of January 2024."

Just had it confirmed by Briana that " the following week " means this week.