Member Info for investor33

Based on the current oil price, we would be receiving about 2m for the stored oil. MB said we have 3m currently, so we will have around 5m. At 109 USD per barrel we get 62 Dollars we were told. Right now Brent is 94 USD.

Not sure where the 6m figure comes from.

That's a very good summary Proquo.

I think that having the 3D done is the best option, as it will allow targeted drilling accuracy..

Plus if the farm out is still up in the air come the end of August ( when the data will become available ) it will probably help this. And maybe a possible buy out as well - MB stated that no buy out offer has come in yet..

MB stated that they couldn't drill when the seismic survey is being done, as the vibrations will affect it, and presumably distort the data.

MB stated that they couldn't drill when the seismic survey is being done, as the vibrations will affect it, and presumably distort the data.

It's a shame really that the 3m that Jerry confirmed had been spent on H2 so far wasn't diverted to two more drills at Gazelle instead. Hopefully the radial drilling will still get a tune out of H2 and finally make it worthwhile. I do think that the issues with H2 have been acting as a brake on sentiment and the share price.

And going by Mike's comments, Gazelle is now very much the favoured reservoir. That image shown by Jerry in the slides showed that Gazelle 1 is on the edge of the reservoir and down dip. This also explains the high water cut. You can see from the outline of the reservoir however that there must be massive potential in the updip area, which would also presumably benefit from a much lower water cut.

If a farm out is agreed, I would expect them to line up quickly several drills in the Gazelle updip area.

I hope that PC pay up soon, because it sounds as though the Strait will be reopening soon.

Proquo ; I suspect that they were holding out until the last minute in the hope that they would be able to announce the signing of the 2026 agreement in the RNS. It's obviously imminent.

Likewise maybe feedback from the counterparty after their restudy of the seismic data, which also sounds imminent.

As regards Gobi -I think MB said that the contractor isn't in the country right now. I guess it's like trying to engage a builder in spring - everyone's busy, and maybe not working in your area for when you want them, so you just have to join a queue.

Kr1988; MB stated that he asked last year for the agreement to also cover 2026, but PC were adamant that they would only do agreements one year at a time.

It was also stated in the RNS and the meeting that the technicality has been sorted now by PC, and that the signing is imminent.

It doesn't worry me at all to be honest. Like I said, non payment to MATD is also non payment to the MG. PC will know this.

Kr1988 ; what you wrote would be far more relevant if you had written it this time last year, when PC had no history of making payments..

They sorted the agreement and paid last year at about this time, and in the end they sorted and paid the withheld amount. Some on here would adamant that they would never pay the withheld 30%

Don't forget that they are also effectively withholding money due to the MG. They can't get away from not paying if they intend to keep operating in Mongolia.

Senator ; a dividend paid for the 200MW project would very likely do wonders for institutional interest.

Does that NicetoMichu character do anything else except make playground references to WOS ?

He has a total obsession with him - poor guy. It almost makes me think that it was him that was "WOS."

Master - how would you have felt if you had bought Rockhopper shares for £6.00 in 2010 and then by early 2020 they were worth four hundredths of a penny ?

Now Rockhopper shares are 80p having flatlined for about 5 years. However the key thing is that they always had the rights to a lot of oil regardless of the monumental fall in their share price over 10 years.

FYI the company played a very active role in having the most abusive troll removed from this board.

I'm sure that the Doc person is one of the other two that they have flagged up to LSE.

Good news that the block XX 3D can be done with a small upfront cost.

Sounds like the 200 MW oroject can be monetised before next year's programme starts.

Ok - good one TBT👍

Re PC's payments. This time last year they had no history of eventually sorting things out and making the payments. Even the 30% issue was resolved and paid eventually.

I hope the AGM clarifies how much they have been quoted for the seismic, as it doesn't cost 100 grand or whatever. There are reasons why the company so far has just relied on the 3D provided to the north of block XX by PC.

Senator ; the only thing is that I seem to remember that they were quoted 4m to do the rest of the block XX 3D seismic. I hope that this quote is vastly lower.

I do seem to remember that figure from somewhere in the company's literature, as I wondered why it hadn't been done before.

TBT ; yes, the sooner that PC can be kicked into touch, the better. I think we've all had enough of that company. The stalling is clearly deliberate.