Member Info for InJamesweTrust

Any word on how he is keeping- if he is out There keeping an eye on things then all the best. Am sure this will tick up as FOIL closes in.

Historically perhaps but if ECO taken out early, Tullow still had a lot.of news to come on Orinduik and Kanuku which could make a fair old difference to its SP.

Trendz
If it did occur, there would be worse places than Tullow to recycle some of the proceeds - depending on prevailing macro outlook.

Trendz
Without being rampy and not alive to the risks, in some respects you want the drill to show the data and Hammerhead connection to be crystallized to see the value out. Currently too easy to take out cheaply....I fear. Albeit a strong return is always welcome.

Outraged should be outdated!

A cracking note and confirmation of where the SP has potential to go to. However think their risked value of the Jethro prospect is outraged and uses the 21% CoS in the CPR. BoD have indicated this is 44% now have they not - that would make the risked value of Jethro 38p a share.
From what I can see they are using $5 A barrel at $1.30/£.

Narrative from Gil and Tullow seems to be that Exxonare appraising Hammerhead but there is enough info there to suggest what we have in the joint field. If the timing of this appraisal dove tails with 2 drills next year it could be an excellent resource number we are looking at.

Personally quite surprised this asset is not of interest to the likes of essar whose Vadinar coal/gas terminal is reasonably accessible by ship.

Think their (NEXT) upcoming RNS will point to the continuing bloodbath on the high street.

AdUK
Think you will find RB wants the hockey stick just as badly as you if not more so. Imagine what that does to his fund performance, yes he subsequently has to sell but can make a case for extenuating circumstances and do so in an orderly fashion. He'd much rather a slow rise to FOIL and then an exponential jump on EPS success as he has justification for HUR suddenly being say 35% of the fund.

Such a situation would make a major difference to.his bonus compared to tri.ming the position all the way up (if we ever rise)!!!

AdUK
Guess it depends whether you think his comments are controversial. I would contend they are not and some legitimate concerns have still not been answered. When disregarded by the BoD having stood tall when asked (bail out.of warrant VWAP) he was summarily cast aside over his objections to the VCP and fundraise above all other options.
RT and his train set and directors with a ludicrous VCP not wishing to cede control of either despite serious questions on conduct.

For those saying RB acts as a drag on SP - how quickly might it have sunk if he hadn't bailed out the warrants? He did so with info from the BoD to give him comfort I'd imagine (there not bejng time for a DD exercise) and them had the rug summarily pulled from under his feet.
So let's not be too hasty in name calling.

AdUK
You talk of supporting HUR's endeavours while CA do not and are purely in it to make money. If memory serves who stepped in to stop the almighty screw up of the warrants and around that time were you supporting or selling?

A little hypocrisy/selective amnesia there me thinks.

CA are in the market to make money, same as anyone else. To criticise the. For doing so legally is really just pissing into the wind.

We should all have regard to our portfolio/investment mix. Having once had an over concentration in Sound Energy I am bloody glad I do not today. Don't see the same occurring here but seismic is never 100% predictive not are initial flow tests and while the evidence points very strongly to successful EPS there remains tail risk.
Hope for a trading opportunity in run up to FOIL to pop in and out.

Vulcan did a fly past of Bournemouth airship in 2015 on its penultimate day of flight. A thing if beauty and a simply fantastic air show to head along to.
Sound of a spitfire is wondrous - great vid on YouTube of one buzzing Alain deCadanet by surprise his reaction being very funny.

Wouldn't like to be "in" over the weekend.
The CoS have fallen considerably for what are supposedly golden tickets and alas JP should have some questions to answer for.previous utterances.
Alas, the whole TCF model base on the extension of the Algerian model and not the much delayed interpretation of the seismic seemed very odd to me at the time and since.
Ironically, there is.probably some gas in them there hills somewhere but the share is getting to almost distressed levels and without some luck in the next 2 drills it will likely be Schlumberger or the Moroccan government who pick over the remains and take their time to analyse the seismic and plan a drilling campaign to focus on success and not keeping the dream alive timelines. They should have faced the tougher questions after the Horst proved disappointing.
Genuine good luck to all holders still here from the TE-6/TE-7 days if they do hit now and get the resource up to 1 or 2 TCF it will be transformational.

He didn't mention publishing it but did say they are continuing to work through the info and include some of the learning.from Hammerhead. Think he had to be quite careful with his words as if Hammerhead is a discovery on Orinduik as well as Stabroek it is major news depending on volume of Orinduik accumulation. Given it was drilled with ECO 3-D then T-E-T should well know what it holds for them.
Wonder what that RNS would do for us.....

Wellwell
For the youtube link - just go into the site and search on Robert Trice - Andrew Scott.

Yes - I must be short (am 6ft1 for the record!!)

Biffa
The conduct of the FD and CEO at the CMD in April 2017 exactly when they were trying to attract investment to the HUR concept. The exact wording of his dig at the majors and financiers was not becoming for him or the company and would not have endeared them to the gathered investors - the very people they hoped to fund EPS.

General view, you can't drill basement it's impermeable and even if you're lucky you'll just find heavy oil - we are now able confidently to say yes you can, porosity is there, 38 API brent equivalent. We got a cash injection (he thanks Kerogen and CA) while rest of the industry were staring at their navels and worried about budgets allowing us to drill 4 wells.

Just after this, we had the warrants because the FD had over extended the company which is the responsibility of the CEO as well as the FD. These events did not help the funding exercise and are demonstrative I think of how he feels about majors and the desire to prove FB works to them not with them.

Subsequent interviews with Malcy (I think) indicate a general dislike/distrust of the bureaucracy of major firms. During the Q&A, at this year's AGM I asked him directly about his statement on AM being on site by Sep'18. He flatly denied ever having guided this possibility and the Chairman stated he was misquoted.

"I was out in Dubai last week and am going out again next week to meet Bluewater and DDO. Move to main board is in progress. March/April well completions and then ideally vessel will be on station Sept 18 onwards". https://youtu.be/xQi-XMSG041
These were his words spoken at the oil and gas council awards in Dec 2017 after AM was in dock for 3 months and had been fully apprised.
I didn't say he was arrogant but equally he is not infallible and while hugely knowledgeable I get the impression he wants control of the company to set his goals and run the show. The lack of i-NEDs is apparent, the relinquishing of shares options by i-NEDS involved in the VCP without this being set aside is unusual and his inability to engage with CA/PI's openly around funding options previously or delays to FPSO now are not transparent and will be a concern o investors.

Can't access the interview frustratingly - link is down. Mentioned the gas field split across Iran and Qatar which broadly operates sufficiently well.
With seismic imaging it should be feasible to delineate and if working with Exxon possibly hugely improve the economics of our other prospects adjacent to Hammerhead.
Ideally shout from the rooftops it is a discovery and if Exxon used our seismic (possibly a quid pro quo for allowing us to shoot it) we should all have a decent idea what lies beneath.
This alone could give ECO 75-100m barrels of 2P before we even pay for a drill.

Boyzee

I think it does quite the opposite- it is two fingers up to majors who May have had an eye on all 4 fields if HUR became a TO target following EPS. It means the pie is split GWA and GLA and potentially has to wait longer to be taken out.

Compared to what drilling may have been possible Post EPS- regardless of Poo a successful EPS would have interested parties citing with multiple deals possible significantly more financially attractive than Spirit deal
RT has a strong dislike of the majors and it is.part of his train set he gets to keep for longer.

ECO RNS has been updated - now 250m barrel prospect with 44% chance of success.