Member Info for hereandnow

LOL...........

Lisa will be in production 4 years post discovery. Tullow is a more nimble operator , Jethro could well be in production 3 years from discovery. Appraisal of the channel in the spring of 2020, hit the go button for a FPSO, 18 month build, a couple of development wells, away we go.

Sorry for my impatience Jimzi , my fuse can be short sometimes!

My point is simple. Once the contract was signed how long did it take for the the LCs to be issued? ...3 months! They were forced to raise equity instead of securing finance via the LCs because the client was so slow with the paper work.
They are due to deliver one of the scanners by the end of Q3. The chances of them getting paid on the dot are remote hence I believe they will get paid in Q4. Second scanner will presumably follow swiftly in early Q4 and so subsequent payment should land in Q4 hopefully.
Just trying to be realistic re. timings considering where WSG are doing business.

Looks like PEL 44 will be first, followed by PEL 30 (Cooper, ECO)

PEL 44 is huge but Cooper, the Osprey prospect has a higher COS...over 30%

Partner and drilling news imminent it seems

Don't be silly Jimzi, you've stated the facts yourself, the conclusions are obvious! End of discussion, totally ridiculous!

So one will arrive in Q3, payment will be in Q4. The second will arrive in Q4, payment, hopefully, in Q4.

Handy working capital.

Oh look another massive late reported buy just popped up.....big money continues to mop up. Tier 1 asset , de-risked, happy days.

OFFS

car? CPR!

All the stuff in the car is extra. think about the discovered resources, recoverable barrels , net to ECO. We are under valued on that all ready

From the half year report....not the issue equity RNS

'Following the fundraising on 25 July we have been able to immediately commence production and expect to complete the first installation on schedule in Q3 2019 and the second installation shortly afterwards, subject to any unforeseen delays.'

They'll get paid in Q4 quite clearly.

the only timings are 'later this year' so...???

PAAA.....I was looking for you the other day but there is so much noise on here you were lost. Sorry for you for what's happened here, hope you are trading well elsewhere and making some coin,

Best

H&N

We have a big buyer or two mopping up by the looks of the trade. Gil has just done a three day tour round Europe with Berenberg speaking to clients.

https://www.wsg-corporate.com/news/our-strategic-partners-win-training-organisation-of-the-year/

He bought £50k of shares, a significant amount of money. Drilling campaign finished, results published. They are open for a while.
Carapa to be drilled, all the partners sit down and look at all the results. We should get some more detail then as to Jethro and Joe volumetric, porosity...perhaps some initial flow rates.
The we have the new CPR to come as well.
Drill plans for the spring.
Namibia farm out.
Next news is at least a month away

Exactly Humanbait. They've made a deal based on one set of figures that MPS are presently being paid. That may be adjusted depending on what MPS will actually get paid. Considering the rates were agreed and a 35 year contract signed and $1.5 billion has been invested, I would have thought the agreed rates will stand. WSG has the contract, whatever happens.

Anyone interested in following up Gil's hints re Namibia news re. farmoutz/partnering/drilling check out the following,
1/. Azinam's presentations the past two years
2/. Seacrest
3/. Seapulse

They are all the same company fyi

That last update was very reassuring. It's great to get confirmation that we are being paid for all the work we have done, clearly on agreed terms with MPS. MPS has ramped up to full capacity so Ghana revenues will be contributing nicely to the bottom line.
The Ghana contract has been described as 'significant' and will clearly help to transform the accounts over the next year.
It's also a great confirmation signal. At the AGM, Peter Fowler made it clear that the contract may take 30, 40 or 10 days...he didn't know how long as there were a lot of moving parts. He also stated, when questioned about working for nothing, that they wouldn't be working for free in two or three months time...........and that is what has transpired.
For all their errors over the years (that ferry!) and their over promising and under delivering, it seems this time they have got it right. Praise where praise is due, good job. This Ghana contract is superb.
It was also stated at the AGM that it would open up more potential port contracts. When combined with the tech contract in Asia, you can see how this could happen.
Very happy with what's going on with WSG, can't believe how low the MC is..company is in its best ever position and we are jogging along the bottom of the chart. Value gap here, it won't last for ever

Got that green filter box coming up....whichever troll that is? Glad you're excited by the contract. Happy days!