Member Info for InJamesweTrust

Rangers1 Never a bad time to quote that film it has many wonderful sequences. I hope it gets close to being a field of Dreams for us. Tempted to make my wife watch the movie tonight now!!!

No techie but many more drills at strategic seismic targets with interference testing to measure fracture connectivity. Confirming how fractured the ridge is will also be important as more fractures can connect with others. Has to then be commercial to get them out. Final recovery isn't known until the well run dry but in time a consultant may be happy to up the number into the 30s if the imaging from drills.matches sonar and interference testing comes out showing good connectivity.

Zebbo Think by targets they mean traps.

Yep mid June he mentioned. Correction to my last on his podcast, they are seeing targets in the sands all across the block from East to West not a single trap. Still sounds like a big uplift to the 800-900m barrels they were looking to prove up. First drill on Guyana block could be within 10 months - late this or early next year! Think he said when TOTAL exercise the option not if!

Thanks for the heads up on potential news shortly with regard to PBLJ. Useful to know what is likely happening and it is helpful for sure we are into the calmer season. I wonder if the BoD have piling, sub Sea etc scheduled for later May to ensure minimal weather loss and expect all to complete in good time for the AM arrival - which I still expect Aug/Sep unless PBLJ is delayed in completions work. Look forward to the RNS.

Got it thanks. He is pretty categorically saying there is a 900m barrel structure. Some 50-100m barrel structures and a few more in between one of which stretches right across he licence and could be the biggest. 15% of that looks like a pretty meaty number and 4 independent eyes have reviewed to confirm so drill location should be a piece of cake. CPR due June and drill in Q1'19.

SIPP All good songs. To mangle the Queen reference to just the 80's - don't get your coat - No Jacket Required!

....the share singing I want to break free (and get to 40p). Never forget sight of friend in golf trip going to bathroom in bar this coming on radio and returning to main bar with lippy on and pushing a Hoover singing along to the song. Perhaps need to be a certain vintage to remember the video.

Is this the march 5th or a new one? Have had a scout and didn't see.a new one yet. Sorubim-1 wasn't sure how long getting to payzone would take but had read similarly that it spudded around Easter.

Lounge it is ;-)

Hi Cebo, Think it will. Has been on my radar for a couple of months and the wording of the RNS convinced me that the CPR outcome would be positive and drilling potential similarly so. My only prior experience of Namibia is Wilbur Smith books!

Newly in on this. Is drop down to early word leaking on Sorubim-1 or is too early for news there. RNS very positively couched and should lead to uplift in contingent resource number.

JoeSoap DJ would be hard pushed to demonstrate independence - the mere acceptance of the shares is an indication of this. Not to say they are linked but if awarded around the time the VCP was signed off then murky indeed. After acting is Interim Chairman I would argue it is hard for him to become Senior I-NED now. For the appointment - if we make an Executive Chairman appointment with some actual power (look at Roverto Quarta's actions at WPP) then the VCP could have been used to get a candidate of perhaps higher calibre than McTiernan. He has skills no doubt but don't think it blows the markets socks off. Not sure how he is perceived in the industry but Bill Gammell if you want an older gentleman (at 65 still younger than McTiernan) - just make sure a tax accountant looks over any deal.

Daltry Not saying it didn't happen but a financially viable company with a competent CFO should be capable of refinancing. The CFO should also be on top of managing cashflow - you may have seen the little debates on here about the same thing (which I don't ropose to re-open now)! In terms of where I worked I'm sure then and now I could only aspire to the lofty heights of a bank clerk!

Malcy Look at his Tweets and replies - he took pics but has been asked not to share them and has not indicated when he will provide an update. Somebody asked the question on Sat I think

Daltry Generally a bank can't recall a term loan- it has a defined term and repayment conditions. It is up to the company to meet said conditions or refinance before it cannot. A revolving credit facility is a form of lending but is much more short term. It is there to overcome operational timing issues in cash flows and not hard-core borrowing. If it becomes hardened then cash flow issues are apparent. In the current banking environment (with RBS behaviour over GRG) banks would be very reticent to summarily withdraw facilities bit within their rights if an RCF or terms have been breached.

Casapinos Perhaps has come in on the promise of options if he tows the party line and follows the good Dr. Tullow experience is good in terms of where we are heading but am sure there are other people out there the VCP and initial golden handshake could have enticed to leave Senior jobs. Someone like Sam Laidlaw (or his successor) - I know Laidlaw has his own interests and would not be swayed our way but that kind of calibre.

Seems a well qualified candidate - hoped perhaps for a bigger hitter of honest. Not sure how David Jenkins can return to Senior Independent Director after such a period as acting Chairman working closely with management.......

Pijoe The main reason I would guess is because at time of contract they were a tiny minnow with no balance sheet strength and an absence of market belief in their assets. Hence, a rust bucket from BW in need of serious maintenance funded by a significant upfront payment was all that was available. However, with producing assets and 600m plus barrels plus of 2P there is a world of difference when they begin negotiations with potential suppliers. Btw not wishful thinking, merely consideration of plans and as said subsequently even at full cost for a larger capacity FPSO it is a much.more cost effective option than full FFD.

Extrader No expert but think the derivative structure wouldn't fly as you would struggle to get someone on the other end of it - unless RB discounted the MCAP and gave people optionally. Would have to be structured to reduce risk and therefore optionality might be difficult to build in as wouldn't remove from CA risk profile. Rules are designed to make the fund balanced but also ensure profits are locked in. If anything he should just canvass fund holders about a change in scheme documents and ask RT to present to them - making an exception for HUR. Perhaps he locks in 25% of gains now and let's rest ride or some such structure.