Member Info for Jace86

And that'd be about 8p per share.... As it'd need exploring though I think that'd be a part of the deal that it's considered, giving a marginally higher price per barrel of what is there now. Ticked up I've noticed...

1,760,000 barrels to adl. 15 dollars a barrel. 365,750,000 shares (rounded up).

What barrel count are you working from?

No but a buyer will pay between 13-15 a barrell. Multiply that by ADLs share of colter. Then divide the answer above by the number of shares in issue.

I'd say that's a minimum - really should be aiming for much more than 3p. The asset would be worth over 20 mil... I'd much prefer 6p but understand if it doesn't get there...

It looks pretty static at the moment. Been at the rig since roughly 4am. Will check back in the afternoon and see if theres been any runs.

Looks to be having issues... not reporting trades etc... probably off the back of the problems from yesterday.

I've noticed the FS Carrick doing runs from rig to Poole. It's possible that they've drilled now with samples being analysed. Given its running back and forth I wouldn't be surprised to see an early result.

Wouldn't have wrote it. Certainly not without some kind of source... Any way to do a placing would be off the back of colter results. If done before it'd only encourage a sell off as the presumption would be that colter is a no go.

Mm's could be holding some ready for colter results to offset against what they'll buy and re-sell as people profit take and de-risk at various levels.

To me I'd say it's should be a median that gets taken and I'd say that it's more like 87.5 percent cos. But they don't take that as one part of the geological structure can then impact the other so they multiply.

Cluff recently got shell to farm in... maybe someone huge might see this as a great opportunity too? Only issue with a farm in is it decreases our percentage but perhaps ensures the job gets done. We won't get funds from a farm in I don't think either, not unless we fully bought out Eagle and Eagle becomes a subsidiary or Andalas.

I wish! I'd be starting my own firm and be getting shareholders to pay for all the drills whilst I take a salary... I haven't seen the cpr so those numbers are a would be example. Given the history of the reserve I'm willing to wait for the results - although I do admit it'll be a crazy scramble for the door if the very unlikely happens with the drill.

I'm no expert and haven't seen the cpr but I'm under the impression that theres 4 factors multiplied together to give cos. These being source rock, migration, reservoir and trap. Making an assumption, 3 of these are 90 percent and one is 80 percent. 0.9 x 0.9 x 0.9 x 0.8 gives 0.58. Don't see many cos above 30 percent let alone 58. Plus this is a historic discovery which means we know it's there (appraisal drill not an exploration) and it looks like the drilling location is where any extensions would go from the onshore infrastructure.

I don't think the company has written off Bunga yet either. Until the GOI confirms termination it's on the sidelines. On sale the barrels would be worth about 13-15 dollars each so I'd agree with miker that the sp would be more and be about 5.5p maybe more if good badger news is coming too. I read somewhere for one of the other firms that it's worth 15mil a year but I don't think any of these firms really have the cash to develop the field so a sale is far more likely.

Thank you! You never know, if the idea is to sell colter quickly and GOI knows this firm then has cash they may change their position on Bunga and maybe other assets that we've looked at... Plus there's badger to hopefully come and be explored this year which we have no costs on.

People allow themselves to be manipulated though. Was good to see today people were ahead of the MM's and didn't sell. Forcing them to lift the price up quickly so they themselves didn't lose out.

Am I right? Yet price tanked. Nice entry point for some!

So there's still a hand to play here. As I've said, if you Indo want the work doing we can but if not, they can keep on importing. If they see that the termination is detrimental they could go back on their idea of fund deposit.

You may be right and maybe that's why it's taken longer than expected. With the leaks though they can't disclose too much about future funding or finance or that will end up on social media too. Maybe the psc just sits there until they realise no one big will take it and someone small needs it to get business going.