Member Info for HopefulDave

Don't know what lab(s) / where they are etc.

Besides they said would update with reservoir details as well as composition so even if they had the composition back, could still be analyzing the reservoir details, especially if we aren't drilling Charlie-1 and obtaining the data from the other operator for that targeted formation.... So no "delaying the results" although it is still possible they are discussing increased acreage, although clearly lots of Nitrogen down there if "one well" could potentially supply most of DTU's needs!

Chill pill time. Twiddle thumbs and wait.

Imho. Once they have the shares they have them. Either they will have applied to convert the warrants to cover what they have already sold or will still sell a few more. Personally I believe the day you see them converted will be the day after they have stopped playing and covering the entire lot that have already been sold. It’s not in their interest to “play around” at that point and sell the shares hoping to buy them back lower etc, if they hold any. They like the hedged position where they can’t lose, warrants covering short sells is guaranteed money making. If they hold any after conversion they are no different to us as shareholders. They’ll have somebody else’s warrants / convertible bonds to play with then and be busy doing that elsewhere (all IMHO of course) Personally I will see it as a buy signal and I believe others will to, but I believe that you are also correct that news will be the thing that drives us upwards. Fortunately by end of July we will have last years accounts out, D14 will be screaming look at the costs, look at the costs and ignoring most of them are now irrelevant moving forwards. The company will issue its forward looking statement with a bit of luck, hopefully addressing that point, and we will be able to see progress with, Kansas, DTU, ED wells being completed over the next month or so (we will get decent revenue during the flowback period) Helios stage opening up, and the ongoing permitting of WD. Personally I’m really hoping for something commercial from Kansas ASAP, not sure how long it would take us to sell from there, but I’d love to see us producing and selling Nitrogen, and also have a few 0 cost or better DTU applications in the pipeline with it.

SL. Ironically I don’t think we need to crawl to the banks as much as people think. The banks still want to lend money to credible businesses with good proposals in the UK. There are not enough of them and their risk profile being global therefore has a nice UK gap in it. The banks will be over the moon to lend us the money, as long as our business case is sound. TorP’s and proof of demand both now and later should deliver that proof.

Fadec. Tut tut. We sneakily sneaked in some more acreage in West Denver now 2721 :)

As the annoying advert states. “Every little helps”

Meh. Whatever churns over here churns over here Now only ~4 weeks until the 31st July warrants clear, unless we get an RNS saying they have exercised them sooner of course. Have hit my target holding now, and more than happy with it. SP can bubble around and do what it wants in the short term, the projects continue to progress and behind the scenes work is ongoing, with possible more surprises like the CO2 play to come. The Nitrogen results and ultimately the reservoir details will get released soon. We could have revenue generating plans released alongside it, or shortly afterwards. Further DTU news will almost certainly follow on also. Bit by bit all the little duckies are lining up, the impatient, shorters, traders, warrants, whatever have kept the price where it is. It’s not often you get the chance as a PI to do what the board have been busy doing I.e. buy undervalued assets, I believe that is what HNR is and I’ve secured a significant chunk of the company accordingly. Our plan / mission statement is to find assets that are undervalued and buy them and then develop them. ED was - but Renegade situation made things messy. WD - hopefully will be ED without the farm in mess and partners knocking on our door not the other way around. Kansas - A possible standalone Nitrogen play and at worst the ability to speed up DTU progress. DTU - should accelerate exponentially and move forward with lower costs due to Kansas Helios - Q3 has the potential to prove the method is good and provide results that lead to further testing, but with more confidence of success. As the company states, it does not prove commercial viability on the one well alone, but will be a big indicator as to the possibilities and provide valuable information with regards to the next steps there. Exciting times ahead.

I think nobody is overly excited about ED as it will do what we know it will do and then we will get money from it. Only thing that would give us a big boost from ED would be news we will do more than 8 wells there, although simply knowing the additional oil is flowing into the bank account in $ is a de-risking factor as well. WD and the WI on that will have a huge impact on how we grow, but until we hear more and firm partnerships %’s and WI remaining will probably be a little off the radar. That said today’s news does highlight the potential for an additional WI increase in WD. Drilling taking 3-4 weeks longer is not an insignificant amount of cost for True, so even if these drilling techniques shave off $100,000 a well you would be looking at a $4.8m cost reduction on a potential $240m development (if you assume each well were to cost $5m) that would represent 2% of the overal cost. If the saving was twice that at $200,000 a well then 4%.. My view on WD is if the sections are next to each other and we have enough gas takeaway capacity there is no reason why they can’t be aggressively drilled and completed, and no reason why we can’t keep a very significant working interest. The development of the Nitrogen play into a revenue stream in itself and establishing us as a supplier there, alongside further DTU news is likely to be a bigger catalyst in the short term. The CO2 play may take a while to come to the frontline, but I have high hopes it will be the Nitrogen play delivering us the next SP positive RNS. Of course there is also Helios, not sure exactly when in Q3 we will be undertaking that, but the success of that stage would be significant, even if still played down and deemed high risk by the BOD. And lastly, who knows what they are looking for / have found and what additional acreage they may pick up or be in the process of picking up..the CO2 play being a complete curve ball.

It’s 3-4 weeks added to where we were at most. Simples. That said. If the efficiencies are there then it will cost less to drill WD. If it costs less to drill WD, we will keep an even higher working interest. Think about this logically people. True are drilling this and paying for it, not us. The extra drill time on site is costing them, not us. When it comes to WD if we have a better operating model and cost efficiencies are there to be taken advantage of, it will be even better for us. We seem to find better, and cheaper ways to do things and get the black stuff out. I think 88e have hit a wormhole in space and time, whatever they put down there sod all seems to come back.

Makes sense. Explains why we were showing as drilling on the one well for so long on a report earlier in the process!

Now showing 4 days into Thunder. Was only showing 8 days into Ouray yesterday!

241,000 shares traded
3 % drop
3 MM's on the "buy" at 18.5.

Meh - Trade it all you like, for your possible few percent or just sit it out and wait and be glad you hold as many as you do when the company begins to reflect its real value.

Everyone assuming the site still down? Another curve ball, didn’t see that RNS coming. Looking forward to confirmation of the Nitorgen results and reservoir details and commercial tie-ins for nitrogen soon. Certainly seem to be switching focus back to gas plays at the moment. Helios, Nitrogen and now co2 although the latter two both used in oil recovery as well as other commercial applications. All good stuff.

The sudden realisation by those endlessly following the other oil and gas darlings of aim, that there is a monsterously undervalued main market company that doesn’t need external funding and is continually hitting what it wants to hit might help.... Oil and gas in ED - tick. Nitrogen - tick Helios - hopeful tick WD oil and gas - hopeful tick The DTU... does it work? - application test - no bashing 15% uplift in oil and gas recovered - tick Commercially difficult sell at present as new tech and costs high. Need own nitrogen supply to reduce costs and get us over the line - tick.... So ED didn’t go as good as it could, Renegade made life difficult and that hindered us, but they may now feel that pinch as they are screwed over by Anadarko closing their gas pipeline (Renegade not us) If WD and Helios become a tick with the acreage and 100% interests in the leases..... it’s like these guys have the Midus touch (albeit with black gold and helium and gas!)

Testing at cost neutral would be amazing, it would mean almost 0 funds being used to commercialise DTU. Testing with 75-80% of the cost covered would still result in very little money needing to be set aside to perform the required number to really get things moving. As it stands we should have ED supporting company operational costs + topping up the bank each month. DTU testing /commercialisation should hopefully be self funding if we can sell even a small portion of the Nitrogen and utilise the rest on our DTU applications, that would cover that whole workstream. Helios work for now can be funded by current finances and ED revenue. WD can be funded initially (permitting etc) by ourselves and partner funding for the majority of the drilling costs when we get there, however, if we get significant Nitrogen revenue we could look to take an even bigger stake of WD forwards. Helios extensive exploration (post our Q3 opening of stage 1 and testing) can be funded by WD. At present it all looks like it’s coming together rather nicely don’t you think?

A placing for what exactly? Plenty of money in the bank, ED revenue will generate twice as much as ongoing corporate costs and some. Any drilling costs in ED are paid for by our partners. We can’t spend any money of any sort in WD yet as not even permitted it yet, and will be part / all funded by partners. Permitting will not be bogged down as it’s our acreage and no awkward Renegade to deal with. Kansas has cost peanuts to drill as recompleted the existing well. Not sure they need a placing to fill the stationary cupboard so why you think one is coming? Have another $300,000 incoming from Warrants to convert at end of July.

Foundations and more importantly keeping costs down. That’s what this is about at the moment. Very pleased to see the results of the flow and the gone without any issues despite the high pressure. Looking forward to the analysis of the gas now, and also the possibility we may even have supply options with interested parties, and a revenue stream from this on top of our ability to significantly reduce the cost of DTU applications announced before long. This is just one recompleted well. With another formation yet to be looked at, bodes very well for DTU but alongside that, the possibility of an alternate revenue stream is very positive for us, especially if drilling it is cheap as it appears to be.

Hand-some. Nice calculation. Did you factor in the bit about the initial drill was going to cost around $250,000 but this actually cost far less as just recompleted an existing well. So let’s see. Er cost less than $250,000 and you think we get $250,000 a month. Good work that. Keep it up.

Helium in Kansas would be epic. But for now be more than happy with viable pure enough nitrogen find.

Allgrins, you clearly don’t understand the requirements to penetrate the market with effectively a new product. It is far better to secure multiple off-take deals into different countries, being used on different crops. The company has stated this is strategically important to them. With multiple small geographic offtake agreements it proves the demand in each country and in each region of the world. Of course some will be hungry for more and that’s fine with the number of people who need feeding in certain countries they will require more, alternatively countries producing crops for global sales will want more. The idea is to spread the product around the world (literally) then everybody sees the benefits and everybody wants that bit more, hence breaking into the market and establishing a demand and the ability to price the product accordingly. Signing a massive one off TorP now to satisfy the banks alone whilst it would de-risk ST2, it would not put the company in the best position moving forwards. It’s the best strategy, it’s their strategy, they are delivering it. Also worth noting with each deal done we are less “needy” on the remaining amounts outstanding. I doubt one big 2Mtpa deal now is in the best interest of anyone aside from whoever bought it. The banks would also prefer to see a global market established. If they feel the global sales to date (or with more done) are enough proof the market has been established they will sign off. They would much prefer a global sales structure rather than 3-4 big deals and that’s it. It’s the best business model. The safest business model. The most sensible business model. This project is all about baby steps. That’s another one done.

Great RNS and very happy. Small blobs into different geographic regions is exactly the right way to establish the product globally. No good dumping a huge blob of it out there to one organisation established in one area. Spread the love and feed the world, make it a better place, for you and me and the entire human race..... (How many people will have that song stuck in their heads today?) if you do, just remember “small” TorP and I mean small as in divide the remaining required amount up and spread it out rather than insignificant small, company alluded to it. Company doing it.

Now shows one day into drilling Ouray. Question is. What did it do before that. Finish Grizzly and wait, or squeeze another well(s) out in between?!