Member Info for hereandnow

I'm sorry for those share holders involved in this failure of a well. The same example was set with Wressle. Much safer and better to own a company with a strategy like RBD, plenty of upside and protected on the down side by the enormous spread of excellent assets.

organised a road show around multiple countries. Gil presented to their clients. He wasn't looking for cash, just selling the story. Look what happened to the SP, Berenberg have earned their corn, a real step up in broker quality. Classy to thank Brandon Hill for their help up until this point.

If ECO raise, it will be for an acquisition / new venture. That is partly why Africa Oil joined them 18 months ago and gave them money at a 50% premium to the prevailing SP.

We have a firm contract with a rig, spudding in June. The rig is a monster for the job required, overkill really, but at least it will be able to cope with any drill problems.

All good, lock and load for a very exciting Q2/3/4

An Taisce took the Irish government to court because they hadn't followed their own procedures i.e. broken their own rules. The government won't make the same mistake again so An Taisce will have nothing to object to.

Gotti....have you checked out their debts and the fact that the MOTIF shares are held against the major debt?

quite a lot of these now, taking advantage of the seller/s in the market. I believe this stock is woefully undervalued. £6 million on the balance sheet, $3-4 million a year clean cash flow from the Californian wells, multiple wells to be drilled across the portfolio which will unlock value worth many multiples of the present share price.

too small

Remember the Motif shares were held as a form of collateral against the major debts. They don't really serve purpose any more. Something has to give here, mind your backs.

I think they will scoop up any other acreage around their recent gas acquisitions and pipeline infrastructure. And maybe something else if it is cheap enough

https://www.wsg-corporate.com/news/new-contract-award-zambia-embassy/

Yes, and its Lombard who have offered pond notes to the company and ended up giving them only 78p...! And then charging 5% interest, not on the 78p but on the pound note......nice work...for Lombard!

AAhh, yes, that adds up, my mistake!

Slide 31 is another great slide to get a picture of the prospects, divided nicely between tertiary and cretaceous . Clearly some drill positions could target both tertiary and cretaceous which must be tempting. Clearly they are focusing on what they think has the best COS which is really reassuring.

unitisation?

'it's pretty evident that Hammerhead extends into Orinduik, leaving unitisation talks to another day. Concentrating on making our own discovery first.'

Next question, why tertiary drilling rather than cretaceous as I thought cretaceous was the big prise.

Answer...

Tertiary.All indications/noises Hammerhead a very successful well. They predicted it and Jethro is very similar to hammerhead according to all their analysis so it makes sense to drill Jethro first. After that, they will see.

I suspect second well decision will be dependent on Jethro success/failure and Exxon's Hammerhead appraisal well.

Rig question. Two firm wells or a contract with options so if there is success you can process things quicker?

Answer; advanced stage of contracting, minded to take a break in the programme after the well campaign BUT doing what if scenarios i.e. what pace and how to monetise if successful. The leaning is to monetise quickly, get after it quickly i.e. implication is to crack on with more drilling.

One of the analysts in the Q&A asked why, considering Exxon's success rate, Tullow were only giving a 1 in 4/1 in 5 COS.........Tullow replied he normally gave frontier plays a 15% COS and this one he had upgraded to 20-25% COS. Interesting subtext to that Q&A

First well circa $28 million to drill....$4.2 million to ECO....way under Gil's budget...excellent news

It's a confirmation signal from ECO's senior partner, all good.

June is still kick off time even though they have still not announced the rig/done the deal.

The placing is to help these contracts hit the ground running when they land, some seed capital so they can crack on.

Very odd BB, not sure whether to take them seriously or are they just trolling?