Member Info for highlandmatt

Or it is a replacement account.

When someone has achieved as much as he has, it is worth listening to, even if you disagree. Doubly so where he is freely sharing his research.

Layman's PoV.

You are aiming for something called 'fractured basement ', hoping to find a gas filled reservoir / void. Loosing fluid, you summise you've hit either a pocket or a fracture. Job done.

there was some discussion previously on potential structure and size of deals. well, one has landed today....

https://www.***************************/astrazeneca-enters-into-an-exclusive-licence-agreement-with-eccogene-for-ecc5004/4121132206

I have my doubts about the CM production for forecasts and timescales, so am not expecting that to happen. But it's obviously been a negotiation that has taken time from our tiny team, and the end result is we have a good asset with good prospects. Yes, it will require investment, but any oil produced is easy to transport and sell in T&T. It's a good solution to the CEG dispute.

I am GRH. No, I am GRH. I'm GRH, and so's my wife.

He's not the Messiah, he's a very naughty boy.

Look at market cap, not share price. More shares in issue.

Yes, immediate/ short term outlay on CM is $2m instead of $3m by my reckoning, with limited royalty in the success case. Anything more than 1 or 2 million barrels of oil in the ground, it's a bargain. Even a small daily production would provide revenue to safeguard the G&A costs.

Disappointing that testing hasn't started yet, but a GSA would bring value as well. Successfully completed an acquisition that could bring significant oil revenues in time. This had to happen, as a commitment had been made to CEG. Smart move to cut CEG out in the future.

But to close a short, you need to buy the share back, not sell?

Back to 0.97.

Yep, but it is just an illustration of the cash generation. Dividends cannot start until we've wiped out the historical losses, so they might as well drill in that time.

GRH could also be referring to the depressed share price, which when released, will spring back.

If no further drilling is done, FCF of $48m = £40m. A 10p divi would cost £23m. If we take that £40m, and drill Cas C, double production, but nothing else, the following year FCF = $96m conservative, and would support a 20p divi.

Regarding development costs, do I not remember that the agreements we have for USA and China state that costs will be covered by others in exchange for a royalty? Or does that only kick in once we have proved the fast test?

SVS - yes, that's the paradox I don't understand, which is why I questioned it at the last presentation. We are told on the one hand that AD businesses are a great investment and eminently suitable for bank loans, but told on the other the BOD needs funds for acquisitions (hence spitting the dummy over not being able to issue shares to Prolific Basins). My only conclusion is the banks require a certain amount of contribution and collateral from EAG / SCIR, and the BOD couldn't provide it. You would think if it was that good a deal a Director's loan would sort that out, but I think TR is too greedy for that.

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I thought EAG had a pipeline of deals lined up?

Support bodes well. Also this from Malcy...

"Chariot were also highly complimentary about the relationship with ONHYM who have been not only giving help to upstream but also to those in midstream which will be important for Chariot as it highlights the infrastructure opportunities presented. "

It might not be deliberate. Predator slowed to 1m per hour when encountered clays which reacted with the drilling mud.