Member Info for Helpful

https://twitter.com/RRR_RedRock/status/1095342571318988802?s=19

https://twitter.com/RRR_RedRock/status/1095340941584457728

You beat me to it

PS WTI looking frisky!!!

They have plenty of other deals to go at in Indonesia. If I were them I would twin-track it; see if Bunga Mas can be recovered (which is likely to take a while) but proceed with one of the other deals that they have looked at.

Randy did a good job negotiating this one. We only have to elect to participate when they actually have a deal and we don't have to fund the soft costs.

I am reliably informed this is something that appeared out of left field with no warning. It doesn't look good for the Indonesian Government if they are going to start ambushing companies with last minute demands.

DYOR

It looks like we have a fight between a seller willing to take 0.65p and a buyer willing to pay 0.7p. They should just get together and do a deal at 0.675p. No point in making the MMs rich.

DYOR

Don't ask hard questions.

My view is:

Given the capex required the priority is to get Montsanko, Morris 1 and the five Austin Chalk wells producing. Next I expect a CPR, then shoot some seismic, develop a programme of new drill locations and farm them out.

It doesn't mean it will happen but is what I would expect. Going forward they want to be more process driven and less fly by the seat of the pants.

The gas might happen as part of that process but I would expect them to get more acreage first. To make the gas work they need more scale.

DYOR

In case anyone missed this. It gives the background to US Oil Sands and PR Springs.

https://www.oilsandsmagazine.com/news/2018/2/25/us-oil-sands-receivership-asset-sales

https://twitter.com/RRR_RedRock/status/1094961010782470144?s=19

Well it looks like we might break 0.7p soon.

I think the delays were first regulatory outside their control and secondly engineering issues that you get when scaling up a plant. Sealock doesn't have an engineering background and maybe it needed someone who did.

DYOR

Quelle surprise!

I am surprised at no RNS from Mayan on PQE. Call me daft but I would have thought that it was material.

Lets hope that investors have taken the weekend to digest the PQE news and we get a decent response this afternoon on TSX. At some point the value of the PQE holding will have to be reflected in the Mayan share price.

Some of the comment on PQE over the weekend was very bullish. There was one source speculating that it would be a takeover target. Personally, I think that is a bit early: they need to confirm high levels of sustained production from the AR plant before anything like that happens.

The announcement Friday didn't give us any insight into what PQE intends to do with the plant at PRS. We have been guessing but given how long it has taken them to do this deal you would expect them to have it all planned out and ready to go from day one. You never know, they might even share their plans with us over an RNS and/or corrected RNS or two.

USOS reckoned that the plant at PRS was capable of doing 2,000 bopd and was at stage 7 of an 8 stage ramp up process when they ran out of cash. So pretty much everything to sustain 2,000 bopd must be in place.

DYOR

https://twitter.com/AmberMining/status/1094883868937781254?s=19

Mt Ida, Mt Mason

DYOR

Makes the point well.

https://twitter.com/Boardo65/status/1094816758546845696?s=19

A$103.5mil dividend declared.

https://twitter.com/AmberMining/status/1094400627734663168?s=19

Reported: you and your twin.

I don't know. We should get a read across. MYN's holdings in PQE are registered in its own name and are tradeable. so people can do the calculations quite easily and there is no need to apply a discount.

If Mayan wanted to trade it's PQE shares if could do so quite easily. We will know better on Tuesday.

Indeed but I am very happy with that deal. Let's hope the rest of the rumours turn out to be true.