Member Info for ID78

This is the thing MATD was wildcat exploration, you drill holes and the COS is normally pretty low. Chance of failure high. So we MATD drilled holes and got dusters that is not MB’s fault it is oil exploration. It’s the game. Even ADV’s 95% COS well (re- entering an established field) did not work out. That was inherently less risky than MATD’s dusters.

But MATD did hit oil. So I’d argue that is not millions wasted. MATD has success where many companies do not.

MB has also managed to get the exploitation licence.

To me he has been successful. People will have different opinions.

Badprophet my issue with Hamm is he doesn’t stick to the facts.
Horsers, I may disagree with but he doesn’t blatantly take what MB has said, ignore it and present something else as fact.

So to repeat I have never had an issue with Horsers and other ‘derampers’

Hamm on the other hand talks nonsense and I can’t understand him at all.

I have to admit that’s one of the lessons I’ve learned.

Selling out of a stock I’ve invested in, looking to quickly make a buck elsewhere, and then buy back in the original stock.

I’ve found (in all cases) I would have been best to stay invested in my initial choice.

Now, since the last fund raise - have we spent millions? No.

Fully funded for production.

Spent money on exploration, found oil. So money we’ll spent? Not millions wasted.

It is simple Hamm.

Trying not to bite but can’t ok Hamm.

Show me the evidence of the millions of cash burn.

Just more nonsense as usual?

Neil’s post was bang on the money in terms of conveying facts with no opinion / bias

Hi Horsers

Are DQE a viable plan B? So that is maybe being considered?

I’d suggest any plan C would take time to negotiate and then get equipment and crew in country (at additional cost vs a crew already in country). There is also the issue of the price of oil going crazy and companies held back by COVID now haven’t full order books as the world opens up. Is plan C a viable option. Maybe, maybe not.

Time will tell if the faith (by some) lack of faith (by others) is right or wrong.

Honestly, Neil9327- his post yesterday was bang on the money for me.

Uggghh I’m getting tired of this.

Hamm- Heron1 is largely sorted out. Price reductions already agreed for the additional Heron wells. So your talk of MB looking for discounts holding the job up - again not true. This is all In the 25th Feb RNS.

What is happening is looking for the best deal from DQE who are providing a potential plan B for the additional Heron wells and for Velociraptor.

Velociraptor is exploration and risky. Not why I’m invested.

Having a plan B for the additional Heron wells?…. Umm that’s good in my opinion.

But tired of having to correct your misinformation Hamm. It’s all in the RNS and in the presentation from last night.

Try to be more accurate?

On the one hand wanting to drill velociraptor but on the other hand not spend the money on the drill if there is not the time to drill the appraisal well. I think that is what he said? Hopefully DQE will help here, but he is looking to negotiate a discount on economy of scale. It is in the interest of both parties so wait and see what happens.

On Heron1 - none of the above applies. Discount negotiated. Waiting workover slot. Company maker right there. Velociraptor is an additional opportunity, it is exploration and therefore higher risk.

Heron is the company maker.

Exactly, listen to MB. Then realise there isn’t much ramping from the more bullish investors.

Chart shows 3.4p as support to me so we will see what happens next, and the share price is oversold on Stochastic and MACD….

You need to calm yourself down Spainish.

And I did listen, thanks for the advice.

I don’t think you did.

All the best

Master 82, are you suggesting start negotiating with another workover company? Which will take months?

Or wait patiently on our slot with a company that yes is very busy but is highly experienced but has our small task on it books??

Seems like you missed a lot Spainish. Just waiting the workover slot. Contractor, crew, plan - all in place.

Small job that takes 2 weeks.

I guess you fell asleep?

MB agreed to tomorrows presentation is to deflate the share price and tell everyone production is in 2035, once he buys some shovels (Hamm)

So yes, Aspers, 3p it is.

I really have had a laugh today. Thanks guys.

Didn’t hold which is a little disappointing.

Again, I can’t see why they would take part in tomorrow’s investor conference if they weren’t confident in drilling Heron1 this year. We will know soon enough.

GLA

Thanks for responding, Trek.

I googled and got the same answer, so more contracts could land anytime here. The CEO is certainly very sure about where ONC are going.

So £20k of shares bought in December. Another £10k today. Very bullish by our CEO.

One question - is there a closed period? I mean, if more news was expected in the next day month would he be allowed to buy now?

As I say, very bullish sign him buying £30k of shares I’m just trying to understand if that is our contract news for now or can we expect more??…

If this drops to 5p… what a buying opportunity if you can buy and wait (not invested here but very interested)

This is on my watchlist.

I can not believe the SP is this low. Honestly shocked.

MCAP of £52mill?! After all the progress of last year.

A huge buying opportunity!!