Member Info for Helpful

It is a constant factor in his communications.

PFP is probably a buy at 0.9p for a trade back to 1.6p.

https://twitter.com/DavidLenigas/status/1187315183179456517?s=19

https://twitter.com/ParaResources/status/1187376602247761921?s=19

You are right on the last point. This is TB's plan and he has been looking to do this for some time. He is well in with all the locals and has been pressing the flesh for a considerable time.

If all we did was drill the Red Cave it would be decent but nothing hugely exciting. However, it is our ticket to the party. All the add-ons should be very interesting. JVs, operatorships, well servicing etc.

Depending on which you look it up the Red Cave is either 60,000 or 90,000 acres so it is a decent sized play.

The MOU matters, so lets hope we can move it on in a positive manner.

*Adams Affiliates

When we did the merger Mayan said that it would save us 20% on the operating costs so from that you would take it that Attis has a 20% margin on its work.

You can look up the production figures on the RRC website. If you know the operator and the county you can see when the well was drilled and what it is producing. In the relevant counties, it is either Red Cave or Brown Dolomite: you can tell from the depth drilled. BD is deeper.

I wouldn't take information from those two to be gospel but 19 boepd v 25 boepd is not material from our point of view. If it turns out to be 25 boepd then fine but 19 boepd is fine too.

The Molori stuff is interesting background but some of the information re Molori itself is to be taken with a pinch of salt.

More pertinent is the information re Adams Associate.

The bottom line on this is:

1. known interval
2. metrics are known
3. geology is known
4. not a world beater but decent and gives us a decent return on our money for lower drilling, geological and operational risk.

I am reluctant to quote stuff that the company has not put in the public domain. I will double check what I can say about Molori.

DYOR

Asphalt Ridge has a low sulphur output

https://www.bloomberg.com/amp/news/articles/2019-10-23/norway-s-new-crude-a-competitive-threat-in-prized-asian-market?__twitter_impression=true

*reins

TB and PA are in the driving seat on this. PA is invaluable on the MOU/NDA/JV/IDC side of things. He knows all about the structuring, the law and what these IDCs are worth. The last thing that TB and PA want is anyone upsetting the apple cart just now. TB knows all about the Red Cave, he has been looking at the Red Cave side of things for over a year. Lets just let them get on with it and see what happens. If they can bring the MOU gig to a successful conclusion we will be in a better place.

Do some research on the Red Cave and who has been drilling it and why. It is not a world beating play but it is a play that can be managed from Borger, we can make decent money on and build a proper business off the back of it.

One big upside on the Red Cave acreage is that the lease premiums are not huge. We can start picking up decent acreage for not big money.

DYOR

DYOR

Well in that case Sinbad lets both hope that in a few weeks time we are congratulating ourselves on how clever we are to be holding AOGL.

For you to vote anyone in you need to own some shares. Best get your wallet out and start buying if you want to have any influence.

Yeah nice numbers. Just had a quick read, obviously I have seen that before. But since you want to get into it where is the offtake agreement?

I know you are a big fan of BlueJay given that you spent so much time talking about them last February when we were discussing PFP. https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/JAY/14245834.html

BlueJay market cap is £85mil and PFP £4mil. Why the difference but why is BlueJay so low if you compare it to your scoping study? If you read the update you will see that mining the ilmenite is not the issue but having an offtaker and processing facility is. If your scoping study numbers stack up why is BlueJay not £250mil or £500mil?

As the secret filming question, another one of your made up insults to try to get people off balance. You need to let me have further and better particulars so I can respond. As to everyone else being so awful, maybe there is another explanation?

DYOR

They will want them to move to 24/7 operations. Operating the plant for only 8 hours a day makes no sense operationally.

Well I can understand that, particularly, given the false starts to date and the mud-slinging that has been going on and continues to go on.

The person I know who went over a few weeks ago, was very impressed and I have also spoken to TB about it.

I am very surprised that some of the larger O&G companies have not been sniffing around.

What is your view on how the news from PQE has gone down with third parties?

Sinbad, you spend too much time listening our little friend.

1. There is no AGM/EGM to vote in
2. Both PA and TB want him in place
3. As I have said repeatedly on here, CW will be CEO until such time as TB and the rest of the former Attis want the situation to change.
4. It is arithmetic, before the Attis/Mayan merger I had a say in enough votes to have an influence but the Attis/Mayan merger diluted everyone. I don't have control/influence over enough votes to vote him out or anyone else out.
5. If Attis ends up taking the MOU forward and we end up with a JV (it might happen or it might not) then I think the board might change a bit.
6. As the company gets bigger post JV/progress on the Red Cave there will come a point when CW will go because the board will need to reflect the then current position.

DYOR

PS your best mate Mr Boy appears to be having an "episode" on PFP you might drop him a line and cheer him up.

Ok Sinbad, I will play.

What is the current monthly revenue on the well service contracts?
Who do you think the JV MOU is with? They have 25,000 acres in and around Borger/Amarillio but how big are they? Do they have more than 25,000 acres, some of it outside Borger/Amarillo? How many producing wells do they have in the Red Cave? How many producing wells so they have in total?
What would be the basis of the JV, who gets what, on what basis and for how much? What would be our operator fees, our well serving fees and our NRI?

I look forward to you responses.

Thanks

I think once they have made some progress with the MOU that will be the time to start the PR thing going.

Hey Mr Boy, a touch of over reaction maybe. Nice to see you still posting articles that you write under pseudonyms and pretending that it is independent commentary.

Anyway, I hope it all works out for you here but as I said we got out on one of the pumps last year and did quite well.

I will keep an eye on things here and might get back in if the price is low enough and it looks like another pump is on the way.

Good luck, you might need it.

DYOR