Member Info for Ibiza28

"Typical PG this is the plan but i will revise it to suit."

So you have never had a plan and then revised when other data or information came up. Is not that ability to be flexible in your planning the most important part of running a business. Sorry he cannot consult you individually before every move he makes.

Please Do not be ridciulous. PG is not the best communicator nor is the greatest CEO but given him some credit that he knows his stuff as a Geologist and at the moment that is most important of all.

When he announces these results that is really going to test his Com skills because i do not think he can make a complex geological issue something the markets will understand easily. He will need to rely on his PR company and we had one for about 5 minutes and they seem to have vanished.

Quite frankly we should only need to sniff gas and this SP should move up radically but with PG i fear that we could find 3TCF and the markets would see it as a failure. I sometimes think he could not sell beer to a publican. That is PG's problem not changing his mind occasionally.

The chances are the comms in the RNS will need to be read , re - read and probably re - read again before anyone thinks understands what PG is trying to say. He just seems incapable of making his thoughts clear on paper. I am sure we will need a presentation to understand and unravel all the last two weeks activity.

I would tend to agree results in April.. Not because it is PG running the show but because there will always be things that need to sorted out. It would be really unusual if we found gas in x amount of acre and it was all flowing naturally plus an amount for Helium and maybe some oil (you never know what turns up when you are not looking for it).

By belief is that the less we find the quicker we get the results. So if a duster i would guess we could be told as early as 16.30 RNS on Friday/

However if we find the 6TCF plus He and it all flows it will need to verified mainly because ONHYM would want separately identified probably signed for by Nu Tech they have been stung before by people claiming discoveries. Plus PG would want to have talks with Vermillion and or other interested parties and if we do find it they will be queuing up.

People do not get hung up on PG the CEO at the moment it is PG the Geologist that I am mainly concerned with.

PG the CEO will come later and will be a different set of criteria.

Finally i think we might be on the march but as one asks where are the shares coming from my reckoning is they were being stock piled and that is why prices never moved on the buys as they just released from their stock but now that stock is running down and i would assume that shares sold should match shares bought and as demand out weighs supply price will go up.

I asked a similar question over the weekend. but with reference to GCM i think part of the difference is the number of shares in issue and also the number of "free/ floating shares" in issue ie the number not taken up by board members, insitutions etc ie long term holders. GCM 300m shares Prd 661m shares and mostly in hands of small investors i would guess. I do not know about GCM other than the number of shares they have.

Dickienicholls

I take your point about any agreements but i cannot see how he can keep the results of Mou 5 quiet for effectively three months whilst waiting for an agreement and my reckoning is that the more gas we find the longer it will take to set up an agreement as it may well fall out of a lot companies immediate liquidity and may well need a full board agreement rather than just a CEO sign off.

I think announcement of find/discovery will come first agreements may well come later. AG obviously first in line i beleive on Mou 3 flowing and we have no idea how long it took to set up that one. We know when we found out but how long in the works goodness knows how long. On the other hand the whole of the O&G world will be watching this and if they are bright already starting to put together / formulate a plan to bring it to production. So they have an idea as to price they would be prepared to go to. If and When.

From last RNS

Drilling operations will continue during March until all of the Company's pre-drill potential reservoir intervals have been penetrated.

No further announcements will be made until wireline logging has been successfully completed and the results have been fully interpreted following an independent petrophysical analysis.

Now i took that to mean all Mou 3 testing as well.

My understanding ,and i may be wrong in this, is that PG is planning to announce all the results together and not separately so it is not just Mou 5 but also Mou 3 testing and Mou 3 swabbing that we need to wait on. And i am guessing the Mou 3 testing will not take place till the Mou 5 drill has been completed and then there is the swabbing to be done. Plus the time lapse to evaluate all flow results. I think K Oz or PG estimated a week 10 days for that. So to my reckoning we are talking first week April at earliest as i think PG alluded to.

I really struggle to work out these troll posters. Can you imagine the job interview:

Q What did you do between jobs then

A I wrote nasty vitriolic absue to share holders of a company i am not invested in.

Q Now why would you want to do that.

A I got paid for it.

Q And how much did you get paid for it

A I would rather keep that to myself.

Q So why would we (our company) want to emply someone who spends his time being rude nasty and abusive to people on a forum that he does not own shares in and people he does not know. Thank you it is obvious you are not for us.

Please folks let's concentrate on the important issues rather than feeding the Piranhas.

The last thing I want is an RNS this week IMO the bigger the find the longer it will take to announce and conversely the smaller the find the quicker the information. So if a duster early next week if 6tcf plus He then might be a week or two.

If there is a leak there will be little if not any reaction unless considered seriously damaging to SP and too close to SP.

Does anybody know what other shares there are to be issued by why of Warrants options etc.

I know there are 10m (4 x 2.5m) at 12.5p yet to come. asssuming we find almost anything

We have just had a whole lot issued do you think all those have been included yet.or are they still to be counted in. IMO there are some not yet counted but i cannot figure where. My thinking reckoning was it would be around 660m mark before the issue to the investment company just recently. So i am thinking a final figure of 710-720m give or take and at the moment i know of the 666.29 plus the 10m options to come through but leave me 30-40m light ie some thing like the figure given to Evra and i wonder if these have been submitted.

Any thoughts any one

Would Nu tech count as being independent or would we need to find another person to verify any discovery.

Also are we announcing results from Mou 3 testing and swabbing at the same time ic when they start.

Must think PG very confident of Mou 5 coming in with something because he knows Mou 3 will flow but be dwarfed by mou 5.

Thank Keith for a very detailed breakdown of what is probably going on and timings many I was posing tonmyself answered as always.

Sometimes the markets baffle me and that is probably because i have never worked in them. But can someone explain to me how a share price goes down 5% in the day when buys out weigh the sales by 3 : 1.

My personal view is that it is rigged but i would like to think the LSE would pick up on this.

By the way i think any talk of a find is early by about a day or so at least. That is just my guess though although i hope i am wrong

I do not know anything about drilling but would think if the Rig is solid and it is not a hurricane or something really windy why it should hold anything up. After all it is not that windy 1000 metres down.

At this price i would reckon all we need to do is sniff gas and it would go up. Seriously if you think that Trinidad is worth less than £25m ie roughly current MV then i would be surprised. Not to mention Ireland might still come through quicker than we think. Geo politics is moving the world very quickly far more quickly than i think anyone imagined.

We are a third of way through drill but when do we start to get to the business end of the drill.

My google is showing that Naked Shorting is illegal. Shorting on the other hand is not illegal. Personally i think both should be banned.

Naked Shorting is the selling of shares you do not own.

Shorting is the selling of shares that someone else owns and you have borrowed with the idea of buying them back at a cheaper price.

Personally i am not sure what the difference. I both cases you do not own the share and i cannot see how i can sell something i do not own. I can imagine this working in the Used car world. There are enough dodgy car showroom sellers already let alone trying to sell you a car they do not own.

Running a tight drill is not a surprise but i think the surprise will be if it remains that way.

I mean we have 100 people on site. Keeping one quiet is possible but a 100 times harder keeping 100 quiet.

We have people watching from here on Satellite imagery for signs of flaring. Unless they can really keep that completely enclosed.

Somehow I think something is going to get out. I would not be surprised is something is let slip discreetly.

Mind you if Mou 5 is a complete duster then the news will or should come out a lot earlier ie after 12 days. Why keep it a secret those who want out will bail out almost immediately and the new lot come in when Mou 3 flows or Ireland comes on line.

Make no bones on this the real money is Mou 5 but there is still good return to come from the others if anything go wrong with Mou 5. GLA

One thing to note is that if this is a duster as many on here would like with a twelve day drill they have the perfect date to issue 5pm RNS on Friday March 13th a perfect day to give bad news i would think.

Agreed it seems a change of plan even from a month ago so I would reckon that something has happened or been said that is changing the current scenario. Let's be honest the geo political situation is at best very fluid right now and that maybe driving this.