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Does anyone have a link to the planning document for May 23rd I can't find it on the SCC website? Also I know they are applying for retrospective planning permission for the sidetrack drill, but would they have to also do another application for the flow test and production from Brockham. Or does this current application include these? Please don't reply with Angus have all OGA approval and Environment agency approval to produce from Brockham as I know this is this the case, I'm strictly just talking about planning permission.

The BOD need to focus on what assets they currently have and maximising those to generate more income. As a shareholder I would only want more acquisitions if they were producing 800 bopd combined from Lidsey and Brockham, as Balcombe won't be producing for a while. The finance obviously favours Bergen as we already had two placings and our production isn't high enough to warrant a low risk investment from Bergen's point of view. Brockhams production and Balcombe's flow test need to be a success otherwise we are in trouble with this financing.

It does also say in that RNS that "The Investor has agreed to certain limitations on its ability to dispose of the Shares following a conversion of the Convertible Security." But why not just say the investor is not allowed to forward sell or short etc. Thoughts?

I can tell you what I think will happen and you can shoot me down if it doesn’t..... Zone 4 will probably be sub commercial, they will then co mingle the zones and it still won’t get above 1 mmscfd. Then GJ will take an age to decide which zones to frack first and then the exciting part happens. They frack and then you will get your commercial flows. However we could also have an update on China in the next 2 months whilst GJ data collects to his hearts content and SGC dwindle on funds. Top up on the dips and wait for the oil news and the frack permit :)

Hahaha oh daft, that did make me chuckle!

Aye Wolf it is easy how quickly people forget. However I feel we are out the other side of the s***storm, but yet again this is Angus..... Now we have enough money to flow Balcombe and Brockham, but need to get this mess with the SCC sorted and I'm sure OGA will be granting approval of operatorship for Balcombe very soon. It's always been about the Kimmeridge.

Skinnyboy, Brockham is more likely to be in production first as it has the production license. Balcombe will be flow tested first and then Brockham. But it will take a while after the Balcombe flow test to get Balcombe into production. Whereas Brockham will be ready to go once flow tested :) Anyway lots of fireworks come June time and hopefully a repeat of the interest, volumes and increase of the SP, just like last year. All you need to know is it seems we have found our way through the crap and now have enough money to flow test the Kimmeridge, twice!

Excellent news on the funding! Axebob the Kimmeridge at Balcombe and Brockham is what you want to focus on within the next 3 months. Kim at Lidsey will hopefully have its time to shine, but after the two big flow tests of Balcombe and Brockham.

That interview creates a strong impression that no further funding was needed to flow test Balcombe. The only positive is that whatever the placing will be, it should be the bottom of the SP in the lead up to flow testing Balcombe and Brockham. Who knows maybe the OGA wanted Angus to have more cash on their balance sheet before granting them approval as the operator, therefore allowing them to flow test Balcombe. Either way it's not ideal but leading up to 2 months time the whole picture and sentiment could change here. Easy double your money opportunity and more from the placing.

When it’s fracked we will see the benefit.

If there’s one thing I’ve learnt with shares, it’s buy lots when everyone is panicked and the trolls have arrived! Top up time, will be annoyed if the placing is at less than 6p. In the previous placings they said the 5 mill would be used to pay for the 4 million of Balcombe. Obviously they want enough funds to see them out till 2019 to give them a cushion. If Lidsey and Brockham are producing by July that should give them plenty of cash and the SP should follow upwards!

Think you owe me an apology old matey, for jumping down my throat when I questioned the running costs and finances of the company. Upset to see the placing but pleased to see OGA approval of interest, all we need now is operatorship.

*tight

Didso Dempsey was a part of my investment decision here, but I don’t think it’s all doom and gloom. A frack at Dempsey and we will have commercial rates that will push the SP higher. EME will make sure a frack is done and the higher zones of Dempsey which aren’t as tight will pay for the faffing around and cost of the well. Also there is plenty of other news such as China to push this higher. I don’t see the reason for all this doom and gloom, we knew the deeper zones were right. It flows clean gas so all we need to do is open it up as there is a load of gas down there.

Ratty be quiet even you can’t disagree that a frack in this tight structure would give commercial flow rates? Come on I dare you do it. I will be reasonable and agree that GJ did ramp the s*** out of the gas shows. But if they frack it they will get decent flows. The higher zones will pay for Dempsey on their own so I don’t think EME are in trouble.

I agree I think they have given the deeper zones a good go with natural flow, it’s time to just get on and frack the deeper zones. But in the meantime until the frac permit is granted why not test Zone 4 and the other zones above. With a frack this will give us the commercial rates we need, I doubt co mingling any zones is going to get us anywhere near 5 mmscfd let alone the 20mmscfd that the pipeline’s limit is. But a frack would multiply the rates greatly. No need to panic just be patient. Load up before the frac :)

No ........ but ..... THERE IS A CHANCE OF THIS SHARE GOING TO 50P IN THE FUTURE!..... sorry had to. If commercial flow is achieved at Dempsey, we get updated on progress with the oil situation in China (oil $72.5 a barrel :)), PCL release good news of their flow testing and we start re-entering Alvares, then it has more than a good chance. I do personally feel that the deeper zones of Dempsey will need a frac for commercial flow but I hope I'm proved wrong in the next RNS. Higher zones will pay for Dempsey on their own without a frac.

Yes was referring to approval of 25% interest and change of operator.

Great post Alan, very informative. Can't wait for the flow testing to commence, once we have OGA approval for Balcombe and everything is sorted with SCC for Brockham.

Ja51 I now see where you got the bit about the pumps operating only 10.5 hours a day, but if the BOD RNS a flow rate then this must have been achieved in your 10.5 hours, otherwise it is a misleading statement. Time will tell whether they have enough income for the bond, but Balcombe testing is not far away!