Member Info for highlandmatt

I remember when my mother was ill (brain tumours), my dad getting very upset as the consultant said an MRI was required, but didn't know when it could happen. I had to explain to my dad that there would be a queue of others needing the same, and there was probably only one or two MRI machines in the hospital. Working in industry, he couldn't understand why things didn't happen when someone paid over £100k said it was required. Now imagine trying to shoehorn a mass screening program in to the limited capacity. Not gonna happen.

Welcome.

Thanks Keith. I must be contrarian, I kept imagining the layers of rock being the pancake, and what we are trying to get to is the jam.

There's an argument that the whole area is now derisked. We have two wells that have encountered overpressure and had to increase mud weights. Mou1 in the Mou fan, Mou3 in shallower sands so far. Mou3 has had gas enter the well. It's now just a question of how much gas and where. I'm sure Keith and Jimmy can explain it better than I can.

I wonder if we might flow test Mou1 and 3 first, before raising for Mou4?

High inflation leads to higher interest rates to control it. Higher rates attracts money on deposit, leading to more demand for your currency. Hence the currency gets stronger in high inflation.

Evening all, from a campsite in the Alps. Been delighted to see the news and SP rise. I must admit I always had a little doubt. The Mou1 overpressure, analysis and CPR indicated there was gas, but was there really, or just shows in loose sand? A geologist friend had commented that it was a 'technical discovery' but queried where the gas was. Mou2 ran in to difficulties. However, Mou3 is the first confirmed gas in a well.

So, if there is now confirmed gas (and where it wasn't expected!) and the CPR and company presentations indicate a few hundred billion cubic feet, and we know the price it can be sold at, why the hell would you sell with the mcap below £50m?!

I'm holding tight to my shares, looking forward to logging results, then flow testing. Then the full extent of what we have will be revealed to the market.

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Nigel - Keith provides significant input to this board, both in time spent and relevant expertise. Even if through your own research you don't agree with him, my suggestion is that you listen rather than be antagonistic. There is no need to rubbish what folk spend time researching - that says more about you than him.

Eggs were around before chickens. Dinosaur eggs... Titanosaurus....

A buy back is an investment in the future. Say there are 100 shares, and £100 available for dividend. That's £1 a share. To increase to £1.10 costs the company 10% extra.

However if 10 shares are bought back, a £1 divi costs £90. Alternatively, the company could pay £1.1 divi for £99.

So, do the buybacks now, and we get more divis in the future.

I think folks selling have overlooked this is a Development well. That has a definition, and is very different to an Exploration or even Appraisal well.

Sandy - I wonder if that is actually a delayed notification of the sell that caused the drop this morning.

The original company prospectus has been superseded by the CPR stating the gas is there.

I'm guessing those that took the placing would rather make no money than take a risk on the drill.

Did I also see AXL stating their finds at an API of 14? Isn't heavy crude worth less than light sweet (e.g. API 34 at Royston)?

Good track that.

Is it just the US slowdown and fears? Everything other than the big tech companies is down.

What are you basing that on? I haven't seen an announcement of an increase?