Member Info for Jace86

If they drill a winner I wouldn't say no... all comes to cost though and tendering for the right team for the drill depth. I can't remember the specifics but I think badger is a fair bit deeper. Atlantic have declared a strong cash position so should be able to put forward their share and if adl have funds to hand fast from colter another option would be that adl increase their stake in Eagle, subsequently increasing their stake in badger and anything else that works it's way to Eagle.

As well as extension we pay Eagle if they land anything new as well it's worth while noting. Oddly, our asset is a percentage of the business more so than it is a license.

Adl don't have to fund badger. We only pay Eagle in shares on extension.

Just checked now and it's all showing as good until 31st March! :)

Seen this one. He's a known stirrer and has been called out for being a greenie. Whilst he wasn't wrong with his initial speculation I still think he's trying to panic people. We'll see over the weekend on a decision and if there's an rns Monday for this (there should be one for bunga which now seems priced out)

Last time the approvals shown on the portal it was a weekend I believe and given its now showing as being in "decision" I reckon tomorrow or sunday we should see it updated.

Bunga I wouldn't bank on now. From the last few trades it looks as though someone isn't keen to bank on colter either.

From the link provided below there are submissions but they are the same as what's already been submitted... I think it's just a formality really.

Still only expecting 3 weeks from 6th Feb though for drilling completion as we havent been told anything else but that. Extension as they envisage operations won't be concluded until 11th March which is to plug, abandon and move etc.

Agreed. Just after the first weekend I would have thought. Drilling three weeks from 6th takes it until 27th which is wed 27th. If lucky maybe just before on the Friday.

The guardian has put an article out saying an extension has been submitted but from what I can gather it may not be required. These were put in a while back I think as a precaution. The way it was written initially was as if they submissions were for something fresh.

Thank you! That's been saved to my favourites as I thought you had to have a log in to get into that screen. Definitely not new those.

Well it's that Bournemouth sos is where I'm wondering has share-talk taken it from without researching? Bad enough when it was the drill at wick they kept on tagging adl in it and then when it failed, idiots sold and it hurt the sp.

Hopefully! Just find it odd there was no rns... but then I wonder where share_talk got its info from? If it's from the energy portal (.gov) page then fine but if it's nonsense off twitter from Bournemouth save our shores then I'll be completely ignoring any further post.

As put forward by sharetalk below, anyone know anymore about the types of permits they've submitted? Is there a cost to it, extension to drill and fill or drill elsewhere etc?

I think it might be a different one as Malcy had a chat with Eco Atlantic Oil and Gas. They appear to have projects in Guyana and Namibia.

I believe there is one due as the re-analysis of badger was the prime reason for getting a short extension with then moving to a drill or drop decision before getting an extension. I thought it was smoke and mirrors though to allow Atlantic a few months to get them out of licenses they didn't want and to declare a strong cash position.

Cash flow needs to be near immediate to avoid another raise. If bunga doesn't come and I'm now not banking on it then colter needs to be a quick sale after success. When broken down how gcos is worked (not commercial success) it looks very good. I know a lot of energy has been spent on indo but if they want foreign investment then they are going about it wrong. Depositing funds into escrow screams "run away" to me. Future work/development decisions or commitments can be monitored and be put into the terms of a license when granted.

Id hope we are at the bottom now. Until further news comes I think it'd be hard to predict but no doubt this will be traded a lot over the next few weeks until results or more news comes in.

If we definitely bin off Bunga and the colter drill becomes a success. A 20million quid buyout of adl would be a result (throwing in badger for free). I'd settle for that.