Member Info for Ibiza28

Does an item need an RNS if it has already been raised and mentioned earlier even though the timeline was missed, ignored or whatever. If it does not then almost all subjects can be discussed with an RNS as everything seems to have been mentioned.

Ireland just recently so that can be updated. Not sure if arrival of approval would still need an RNS i think it would.

Update re Sandjet equipment arrival and testing. Again this has been been mentioned. Although there does seem to be some confusion amongst Contractee's as to who has first bite of the cherry. I do not think this would need an RNS as it has already been mentioned. Just because there is confusion on this BB does not mean it needs to RNS again otherwise they would be re-issuing RNS's every five minutes as every communique would be re-issued as they are all cloudy.

So if things have been covered i would think it is open for discussion and i think most things have been discussed in RNS even though the timelines have been and gone.

Thank you for Rhwllcall it seems to answer my question about the heat of the desert as well. very helpful. GLA

As a matter of interest are there any weather constraints. In other countries it is the cold but can the desert get too hot to test in the summer.

10p hoping for £1

That is the problem with this share in that if this does a £1 it will do several £. I think there is little doubt about that. There is gas there of that we know and we also know there is a fair bit of it too. All we need to do is access it and let it flow and the rest will do itself i reckon. The problem is accessing it. We can not do that without sandjetting and at the moment we are all clueless as to when that might be. I was hoping for late March early April testing. but i have no idea if that is likely to happen or not. Hopefully Thursday will tell us and some more as well. The problem now is Thursday cannot give us anything we do not already know as it would then be price sensitive unless we get an RNS. This is what you call cutting it fine. If there is no RNS before Thursday evening i wonder where this SP is going in the short to medium term.. Being simple i do wonder Why oh Why cannot we get a timetable that we can stick to but always there is something that gets in the way.

You are right the fundamentals have not changed but the time line may well have changed. Yes you are right i am here to make money i make no bones about that but that was based around the time line the company envisaged back in September of last year. Testing in November. November came and went and now we are in March with promise of testing in April and May but the equipment seems to be booked elsewhere, if you listen to the gossip, and the problem

is there is nothing but the gossip to listen to as the company are not saying much (at the moment) Investors really should have more say in this sort of thing. I mean if the company are raising money to drill or test or exploit they really need to be held accountability otherwise you end up nothing but massive dilution and shareholders with little way of getting out other than take the hit or just sit and wait and pray that something happens before you peg it.

Has anybody got an understanding of what is happening with Ireland or are we going to have to wait till after the General Election for a decision to get made regarding Gas.

I am beginning to agree with many on here. The Comms is not good and more to point can be confusing. If we do not get an RNS soon i am beginning to wonder why are we doing this presentation. It all costs money and if PG and Lonnie are flying over why the need. They could do it from their villa in Morocco. If there is no RNS it means the presentation will be a share hype to get the level of shares up so that they can put in a placement at a slightly higher price.

It is beginning to look at Sandjet has been booked out to a number who have got there before us and everything in limbo. This is the time for a bit of positive news out of PG and must admit i have having to recalculate my plans.

Just re read the last RNS and looks like we did not or would not have booked it until after the license extension on or around the 5th February and if everyone has got in before us. It looks as if we are at the back of the queue for the moment at least.

Silly question is there only the one rig or is there more than one.

Keep your eyes peeled the last RNS landed at midday approximately our time. I did not pick it up myself till late afternoon for various reasons but we are now one week on from last RNS and by its wording and very directly pointing the finger at who is to blame and invoking effectively the whole of the government into that attack means this will be resolved i think fiarly quickly.

Midday our time is around 19.00 local time. Sign document last thing in weeks agenda say around 17.30-18.00 . Get news out to MB and onto already half written RNS and then onto the LSE about an our later. Could see the same sort of time lines again today.

I still think you have about 110-12 days to wait. They are testing both wells and will let out results of both wellls together and that will be around the 21 /22 March at the earliest. IMO GLA

RNS not coming or at least in immediate future. This is from the RNS on 28th February says very clearly there are two tests each likely to last 10 days. Even if they started immediately ie the 1st March the two tests would take us to the 20th March and then allow a few days for results. Earliest would be Friday 22nd but i think more likely overnight Sunday the 24th on the ASX and then us on Monday 25th although something may leak out in US on the Friday.

"Two flow tests are scheduled, one each in the Upper SFS and SMD-B reservoirs, with each expected to take approximately ten days."

I would doubt they would let the two results out individually but rather as one result.

That is my thinking so i would relax and chill this will come through later this month.

One thing i would like to know and have not seen any where is a summary of exactly how much gas we believe there is down there. I think this is a bit complicated than just multiplying the Height by width by depth to get the cubic feet as i would guess flow rates would come into it.

The reason i ask is obvously it gives an idea as to what this could be also that for a period it seemed that every time we turned over a stone we discovered for gas. Maybe a bit a poetic license i grant you but i think you get my drift but no one has tried to sum up in one straight forward document from what i can recently. There might be stuff going back that but i think has been replaced by new knowledge. So a nice simple summary would be nice.and would they vary with flow rates if so a low flow rate , expected FR and a larger than expected FR and the amounts associated with each one for each well would be great.

Maybe this is being too simple but would be nice to get an idea of exactly what we are talking about now. I have heard 1.8 tcf banded around but then i have heard numbers well in excess of that but no idea which wells or areas. And would the 1.8 include the Jurassic region or that completely separate.

Now we are reaching the end of the book would any like to venture a guess to the end of the story.

Musk

What sort of price do you expect to sell for on average for what we have. IF we average 10$ a barrel it would be a complete game changer but to be honest i would surprised if we got anywhere near that.

Lottery ticket

The problem is there are now 25.2bn lottery tickets out there. Even this does come in it is being well diluted. If this does come in and prove up the oil what do we expect the market cap to be. If it moves to 1p that would be a market cap of £252m. What chance of this being sold to a major in excess of £0.25m. i should imagine the extraction costs and the infrastructure costs would bring the eventual selling price right down.

I have just looked the weather in the capital at least is still very cold but warming up rapidly. Hopefully action here will do so as well.

Yes i would tend to agree on first reading i thought that is it we have set a light to the touch paper and now watch the SP move but on closer inspection I think that this is just the beginning of the end. 3-6 months but i notice with interest that this time MB does not hold back on who the troublesome party is so i am assuming he has been given some kind of green light to go on the offensive which to me means that if he does not act soon the government will finally step in and take control. When that happens this SP will shift rapidly. Shares will drop back tomorrow.but if you are out and want to stay out fine but if you are out and want to be in for all the action that could be at anytime in the next month or so. Also i wonder if interesting it came on 1st of the month.

Does anyone have any idea as to what our share of the Irish assets might be worth.

I do not know enough about the Irish asset as i have been mainly focused on Morocco but if the Irish government are serious I would have thought that, if you had a choice between Europa and Us; you would choose us as Europa have been struggling to find a partner for the last 5 years and maybe even longer or us who have someone very interested who has come to us rather than us go to them. From this chair it looks a bit of a no brainer but then i am biased. GLA

Mossma you are absolutely right i think as this was i believe the thinking behind Barnes Wallis's bouncing bomb to use the pressure of the water on the otherside to help with the fracture. I have no idea what the PSI that would have takeon from all that water but should imagine it would along the same principle.