Member Info for InJamesweTrust

Haggis
What has the Spirit deal delivered to date, a 9 month delay in FOIL and a duster at Warwick Deep? Fantastic
JK - cheap jibes but crack as its water off a ducks back. Made >60% from Sound how did you do?

Camden lad
No and if you read my post I'm very clear on that front. I base it on time to monetisation and the way the company presents itself to key industry players to give optionality in terms of realising that value.
It is not the style of presentation it is the consequences of adopting such a high handed approach.
Trice strikes me as being hard work and very reluctant to relinquish his trainset. The others probably happy to ride the gravy train until they can max the VCP regardless almost of time it takes.
There are other opportunities out there, for me, you and the institutions they were getting on the wrong side of. Money that could be starting to flow to HUR will ow elsewhere as a result of the CMD in my view.

Thursday thru sunday this week represent days 15, 16, 17 and 18 of the drill with Monday 22nd as Day 19. It is becoming very interesting now and info cannot be far away.

Daltry
Actually I think you'll find as CEO his job is to create value, thus the SP should improve. He is clearly arrogant or intemperate when he cant take 2 secs to answer a question and instead sends them to the CPR.
Failing to get these.people on board does the company (and by extension shareholders) harm as it reduces options. That they didn't learn this lesson after the last CMD where they hectored and lectured people for not having confidence in FB and couldn't resist a massive I told you so is a shame. It puts off majors and funders and if there is a severe recession will distinctly limit HUR monetization options for GLA. Particularly if there are any issues with the remaining Spirit wells as don't think they have any funding commitment beyond the 1st three.
I'll probably sell a large chunk this week, nearly did last week but held for CMD and recycle into other stocks with growth stories.
It is not all about being slick but HUR go too far the other way poking potentially vital stakeholders in the eye instead of holding their hands through the info gathering stage to help decision making. Amateur at best.

Cebo - you and many others miss the point. I stated there was a compelling case but they made a poor fist of bringing people into it.
The analysts have one or two of these a week at least and if you expect them to didactically memorize 1,000 pages of crap just in case RT mentions something then that is totally unrealistic.
The cost of not farming out brining institutions in is a lagging share price due to depressed demand. Consequently if there are offers for the company in 6-9 months they start from a lower base and consequently reduce all our realisations from this stock.
It also reduces HUR options in the event of a severe recession leading to a buyer's strike and makes the time to monetization very long term.
This is the problem with being arrogant/supercilious at such an event and it is not the job of a CEO/CFO to behave that way.

Liza hasn't cost $4bn - the FPSO is I think leased with option to purchase this saves $1bn. There are something like 16 key well areas at $50m or so. Tou sent just flick a switch yoi do field appraisal to see how the field works and where to position the well heads.
These things take time and will not exhaust ECO's budget quickly. There is further drilling needed and if they see the complex might move to production planning but it takes some time.
Exxon have got the FPSO down to a standard design and just shy of 2yr build. They are aiming for production in 3yrs and could easily lease an FPSO with the TOTAL name behind them.
If the oil flows I think there will be alot of interested parties.

Apache
Could you send.me the link to the presentation you watched please as it was clearly different from mine. With a compelling story and captive audience Trice was a bag of nerves and delivered poorly, sometimes creating uncertainty when not required (30k barrels of water on Lincol or something). His unwillingness to answer questions because the answer is contained deep within a document somewhere.on the website is bloody minded arrogance and simply puts institutions off.
I am genuinely amazed that two people cam present such a good story so badly.
Unless they have an agenda in doing so I simply fail to understand how it is possible.

Total and Tullow cant just switch a tap to.spend $200m of capex tomorrow. There are.Long Lead Items, drilling producing wells, stem test/extended well test long before you get to seabed works and buying an FPSO.
Equally, Tullow aren't just going to.drop that money they.need to prove up and farm down. They have the budget to prove up but less so to finance a full field development.
The fund raise was to protect them from such eventualities and once the oil is.known to tmbe there parties should be interested.

Probably more for next week than today - wouldnt want to be out of this over the weekend :-)))))

I'd be very surprised if they don't release the Jetheo results in isolation. They aren't looking for a high cretaceous target it seems just can some of the complex be identified.

Think Jethro is 1,500m water depth and 3,500m total depth so 20 days looks very reasonable. They might wish to announce both simultaneously so as to jot take shine off Jethro but frankly who believes it will not leak locally and have a market impact come a week Wednesday?

Phoebus great work again, along with the post of seismic acquisition being done. I wonder if HH will be delayed due to seismic activity and first news will be Tertiary around 22nd-24th July.....
Either way not long to wait and hoping the oil is there as envisaged.

The unrisked £5 sounds more like ECO's share of the billion barrels being targeted in 2019. 1bnx0.15 x $8 = $1.2bn or about £5 a share. That discounts the yet to be drilled remaining 450m barrels which even at a dollar a barrel adds another £2 a share.

The CPR has 1km sq. On our block for Hammerhead while that survey area looks the best part of 250km.sq to.me. based on the likely conservative nature of the 10m barrels in the EPS volume wise it doesn't take much expansion for the proportion of Hammerhead on our block to be significant or indeed if they are checking how it may connect to Aurituk?
Interesting development indeed and nice to see the slide halted.

So looking back we are testing a lobe like structure which is a complex and Jethro is the first contact point. Drilling deeper into cretaceous may explore some of the fans/traps linking to Jethro - this being a complex Tullow see as similar to TEN in Ghana.
This could make the first drill quite a blockbuster relative to expectations of 215m barrels......
To then be drilling Joe and maybe other activity is phenomenal.

Alexios
In the CPR the depths of the drills are given for each target listed, Jethro being 3,500m from memory.
I was wondering if they would like to sidetracked to Kumaka or MJ-3 which I think is close to Jethro also. It is around 5km by my estimates so may be too far to go from the Jetheo drill.
If this is the case they may look to just have a look at the cretaceous to confirm understanding and modelling for the later go af Rappu possibly after Joe.
I think we have options that take the rig availability to late autumn and think we may be drilling until November.
Probably blind optimism on my part.

For oilies out there, if drilling a production well is more prep work required or was it just a shortage of the vast quantities of drilling mud in anticipation of the Gusher which delayed things.

More seriously, the timing for the Tertiary was estimated at 20-25 days. The opening of the complex is interesting but the Cretaceous prospects look to be a decent distance so any sidetracked will take the 15 days if indeed possible. I wonder if they will be going down to confirm their understanding of seismic but great if they can test a trap.

Jay
It's a fantastic movie, was way ahead of it's time in terms of effects. If the bugs had been Transformer type robots it.would have killed at the box office. Well worth a watch for anyone, as I sit watching Ready Player One while working.

Jk
While it has been named, spoken by Neil Patrick Harris (Dougie Howser) to Casper VanDien (after he had been rebuilt), directed by Paul Verhoeven who worked alot with Jan DeBont who I think did Speed.
Great movie and indeed b-movie comedy along with narrative on an all.powerful state and the clamour for citizenship in the more advanced countries.

I'm with Wallact, think they even guided results end Aug so maybe no "official" news until then. This buys time for both drills and sets expectations for news later. However, think good news will be communicated at Tullow half year end of July. Dare say they will be keen to discuss initial Tertiary results there.

Interesting article, the biggest thing I take from it is this drilling operation is expected to last until 31st December 2019. This ties with my previous assertions about Tullow having options to drill further , I'd initially thought about this happening only in a success case but actually can see them doing multiple drills either way as time is precious to prove there is oil and get the value in a farm down before cracking on with production.