Member Info for InJamesweTrust

Porters

From the 5th June - operations was a loose term and I took it to mean customs clearance within the at least 5 weeks.

My thoughts are from the testing having started message that it is 3-4 weeks ish but interested in others views.

Wondering how long people expect testing to take, the at least 5 weeks was allowing flex for customs clearance.

The Phase 1 was projected to take 14 days but took only 10.

My thoughts are around 3 weeks for MOU-3 but do PRD then go to other sites, release results or begin negotiations to declare it commercial if the gas flows.

Also - if SOU only need SV-101 for a.short period, what odds of drilling MOU-5 before the rig goes to SDX for their programme.

Nor sure outing people is the way to interact on here whether correctly or incorrectly.

If Exxon has considered it, the $100m tax losses held by Eco can likely be set against the Hammerhead profits and that would go some way to meeting the FarmIn cost for the Orinduik asset.

Seems to make alot of sense.

Had ROB been playing his old Shamen album......

Es are good, Es are good.....

Where I live that would equate to a fair old jump of around 100% for Council Tax.

Just something else to add to the VAT on school fees and making us pay NI in full on all income.

Apparently it takes 28 people earning 50k to replace the taxes of one person earning 500k.

I've heard talk of Council Tax being changed to 0.5% of property value annually.

Pension 30% flat rate relief for all

Yes CGT set at marginal tax rate

Think ISA conts and overall value will be capped and the overall value subje t to CGT once above the cap.

No, wouldn't commit all in for any one years allowance.

The potential 100k limit on ISA holdings total is a concern before the budget. Be frustrating to then be tipped over it if news came after but think that is what is called a first world problem!

Pensions are more likely to attract more punitive tax treatment if transferring between generations and I hope I'm someway off that issue!!

Timing may seem an abstract for many currently but the budget in Oct is likely to materially change the tax treatment of the products many investors hold shares in.

Many will hold alot more than me but if the success case is (partly) proven by then I'd probably be pleased to have some optionality on budget day as rules will be enforced quickly, potentially immediately.

Sefton

Appreciate the response but I'm not highbrow enough for the Karajan reference.

Day to day I need to ensure investments perform and that means management teams meeting timelines - as an equity and debt investor (institutionally).

There is a point where one loses confidence in management but perhaps considers with enough time and dilution capital raising even Frank Spencer could complete testing. I believe we are just about there and Frank (nay PG) is about to publish results. They are long overdue.

How about being chronologically incoherent.

If I was in my later 70s - I'd expect id want things to happen sooner, rather than gloss over avoidable delays to remain in the good graces of a disdainful BoD.

Sefton - genuinely interested in your view on the delay if you consider it avoidable.

Sefton

Are you seriously suggesting you prefer the 12 month wait to be testing now and still waiting an indeterminate drill date to completing testing in Q1'24 and drilling in April '24 as they planned. So we would have known 4+ months ago.

You really prefer waiting? I'd rather they had organised themselves.

Nothing to so with Monday morning quarterback - I've been involved in enough deals that this timing isn't great.

You can believe the asset and potential reward is.good while still being frustrated by execution.

Don't think a needless 7 month plus delay in the drill (management stated in an RNS it would be drilled 1 Apr - 31 May and pretty sure they didn't mean 2025) and if SDX have it for 3 months then it seems SV-101 isn't available until the new year.

That isn't clever it is stupid and careless.

A new alternate drill would be more costly and astonishing it had been stacked nearby for weeks with nobody using it.

I'd hope they may have an option for a single drill before it goes to SDX but that (like SJ) is still several months late.

Voskos

Think SDX mentioned having it booked for drilling in late 2024 so doubt we would have unfettered use of it if we get it at all.

Some said we should drill last, think we are waiting for when AT LAST we can drill.

So much time and money wasted on supposedly aligning activity and pointless short term extensions. Not to mention perforation guns.

Seabright

We are all expectant, just the term of labour is worse than an Elephants - perhaps this is apt given some believe we are Elephant hunting.

We still don't actually have timelines of when news should be available.

Jimmy

Would be interested in reasons for not just entering first extension period last year immediately after the $10m raise and eliminating all need for 2nd, 3rd and 4th Petroleum amendments and delays and tight windows that meant planning was so poor.

I'd suggest at least $1.5-2.0m has been wasted as a result and yet bonus payments and options still awarded.

Buying in to conspiracy theories and holding management up as this God like entity is delusional territory.

If E&P outfits thought the prize so large they could have accumulated a controlling interest- heaven knows management has issued enough shares to allow this.

Management has refused to do what the market needs to prove it up, demonstrate gas flow. For a long time they (and others).insisted it wasn't necessary. Consequently much time has been wasted and deadlines missed and we still don't have clear timelines because PG is so disdainful of normal company reporting to the owners of the company.

Nobody knows the prize as nothing is yet proven to satisfaction of market or potential off takers and until it is, risk remains.

F&M

Never been in Chariot and not interested in doing so. There is always risk until the test shows flow in any O&G play but the balance of the risk versus reward seems fair here. Some posters call it gambling, not if part of a portfolio strategy to create increased returns.

Bowled

I'd not yet worry about 6TCF - if they cam show commerciality of flow tests it should take the SP to a level that most people have some thinking to do.

Never a fan of ramping/deramping yes some people talk pish but that can be true in both directions.

I'd also suggest calling out secret buy signals through trade numbers is errant nonsense. Otherwise we'd see GRH2 becoming GRH3 I'm sure.

It seems to be ticking up day by day which you'd expect - there isn't a definitive timeline for results but news should be expected end of August as they'll know by then if they are through the zones and that is 4 weeks (ph.1 took less than. 10 days although this is more involved and hopefully much more effective).

TT-T/Wacky

Thanks it does state ratification of entry, thanks for clarifying.