Member Info for Ibiza28

Potential already

Yes i think it is not inconceivable. Otherwise i just cannot work out the timing difference on the RNS's from Friday morning to Monday late afternoon.for exactly the same thing.

The testing has begun. If it had not we would have been notified that is clearly what the last RNS indicated. It started on or shortly after the 13th October in my opinion. The start gun were the two RNS regarding the share options. Those could have been issued any time in the last month instead all three RNS's happened on Friday 13th or after hours monday 16th.

I think the last set could be (but i know nothing about drilling and timeframes) that if they started on Friday 13th say around midday that by the time they hit monday late afternoon the insiders would know that they were on to something hot or not. So maybe already have an inclination of what the potential is. So otherwise why not issue all three RNS's at the same time and save money.

Oh testing has begun the last ~RNS but one made that clear and if you read the signals the last RNS told you it was beginning imminently that is why the options were announced on Friday as testing either began on Friday or possibly Saturday morning. IMO we would have heard otherwise and we have not heard. PG is deliberatetly trying fo offuscate the picture to prevent outsiders whaling in imo.

Seabright

As a matter of interest how accurate would our drilling have to be to hit this or do we really have to find it at its sweet spot to be sure we have hit it or would the sensitivity of the equipment manage to cope with being out by a little way.

I hope that does not sound too ignorant a question.

Thank you Seabright just occasionally we get someone on here with a major contribution into debate. Seriously very helpful even to some of us with little knowledge or understanding but just a gut feel. GLA

To me this RNS signifies that drilling will start on time or has even started. In think we should get one confirming the start of drilling and maybe a time period and possible depth limit. I would just keep your eyes on the big blue buys in about two weeks from now. If there are several close together then it is possible there are some "Gas Leaks" going on and PG may need to rush out an RNS. Alternatively if we see some large red sells it is a lot more difficult. It could we have struck out but alternatively it could be that some are de risking their holding.

Mind you if there are Gas Leaks then we should call British Gas as advised on the meter. Except i would not call for an engineer but the CEO. GLA

Oh yes there will be gas leaks and the question is whether we can tell the smell from the bad eggs.

The most exciting thing about this share other than what we may have in Guerncif and else where are the number of shares. With currently 562.5m and by the time warrants issued etc it will be in region of 600m which is very few shares of the company of this nature (IMO) and means that should we hit we will be fully compensated for almost everything we hit. Obviously if we miss then well we all miss.

I look at outcomes and M Cap and the effective value of that MC on a large O&G company. So 600m equals £1 per share.

£5 = £3bn

£10 = £6bn.

In terms of our potential assets this is easily achievable. The question is how affordable is this for a major O&G well quite frankly this could almost come out of the Petty Cash box 600m could maybe on 3bn or 6bn but both those numbers are easily achievable with there cash flow and liquidity movements on all of their financial statements.

The problem starts to come for them and for us to a degree (very nice problem for us) is if the find is big and or potentially de-risked enormous then the O&G major starts to have to sell other assets to pay for us possibly have to chat to head of pension funds about a cut in dividend. Maybe even a share issue inorder to make the purchase. But that is a problem for another day. Personally i would be quite happy with a quick get and get out on this share at a fair price. After all is the 6bn assets sale that ridiculous a find that £10 almost starts to look like an opening bid. Living in hope and living in dreams ( may be) but i like my dreams. GLA

Any body any idea how long testing is likely to take and i would guess it will be a little while after that that results will be known. If it is a find what classifies as a find is it just its commerciality or is it the amount of gas there is. With the pipeline being so close i am guessing it would not need too much to make even a small find a commercial one where as one found under the sea and miles from anywhere might even have significantly larger finds declared not commercial.

Just wondering about time frame. Middle of Oct start testing. I am guessing this could be a piece of string as i think we are just discovering how big this could really be. (or i am hoping it might be). So results could be some times if good if not good could be very quick. If it is a find then it is how far are they from an agreement. My guessing is that with the announcement they are in talks and have and an agreement in principal. We will see GLA

I have a feeling that this is going to be one of those shares that the traders will make money on and those that are holding and hoping to de risk will probably not have a chance or deem the downside is not that great compared with the upside. Personally it would be nice to have a real winner amongst all the junk i had and have basically jettisonned.

Interesting Rob so you think PG looking to sell the whole company and not just Mou 1 etc and My thinking is just Mou 1 and adjoining fields then explore others and sell them later unless a really silly offer comes in.

Not anymore does it mean next year.

Years ago in 🇪🇸 mañana mañana literally meant tomorrow morning but if a tradesman told you that it meant the never never but it only means tomorrow morning but also precise time tomorrow morning a lot than we can do in england. Very interesting theory just hope you are right but first do we not have to prove up what we think we have got.

At that price in this market certain buys I reckon,

Let us hope there is so much we can not miss. We don't beds to be dry and out by 3,metres,

Some market caps and SPs,

£1 = £562.5m or 7.2m usd

£5 = 2 £2.812bn or 3.6bn usd

£10 = £5.625bn or 7,2bn usd

excluding Ireland and Trinidad

IMO rule out 1 because either we have gas or we don't if we don't probably drop back to 10p level and if we do it is one hell of a lot more than 562.5m. I also tend rule out 3,for relatively similar reasons in that if we have it in spades it is going to make 5.625bn look like small change.

My dear is that this is potentially so big that might frighten some ir many players. Personally I would like to a few large but separate discoveries rather than one enormous one. 3 @£5.62bn rather than one at £18bn and only get a fraction of that price and end up with debate on here as to why we're being screwed over.

From the answers I am getting I have a feeling that we believe this could be a lot bigger by this Xmas.

I would like this share to reach a pound by Xmas time. How cuckoo is that. GLA

We are fast approaching the end of September and the end of yet another quarter. I think it is about time we got a serious update at to exactly where we are are or more precisely where we are not at the moment. Who or what is causing this delay and what are you doing to clear the obstacle. I think the time for letting the locals manage this shambles of a permit authorisation has long gone and we need to be a bit tougher in our approach. Some would say much tougher.

Then i must have been lucky i got in late yesterday afternoon and got 27000 shares for just under 11p i thought i real bargain.

I must admit i understand why i stayed away from Gas shares as opposed to oil. With oil it is relatively simple everything is priced in Barrels and you the market price per barrel is easily findable. With gas there seem to be so many different method of valuing. TCF's seem to be right at the top end of the scale and MMCF somewhere toward the bottom end. So i was thinking of working around a BCF figure. Can someone give me a best guide as to:

Price per MMCF

Price per BCF

Price per TCF

If those terminologies are not 100% accurate i apologize but hope it is explainable.

Although i am sure that something would be findable even if it might be difficult to translate into one of these terms what we are hoping for at the lower and middle end. The top end would be nice but will leave that till we know what we have.

Another stupid question i am sure to many of you but is this an exploratory drill for gas or an appraisal drill. I know we believe there to be gas here from a drill back in the 70's but does that make is appraisal or still exploratory.

I trying to work out a market cap based on some straight forward numbers but trying to put all the calculations together is putting my head out of place and numbers is what i understand best but this is defeating me.

WOS have a great holiday and i am sure we will all be here when you return and yes i hope you are right it is double digits but somehow i think we are here in same place for another couple of weeks at least.