Member Info for Jace86

I know it was planned first but planning could have changed if paperwork/consents wasn't all in place first. That's why I was looking at the marine info to see if there was any chance it would be heading south first. Plans can change. Obviously now not the case. I just hope it doesn't cause this SP to drift further. Just to get that confirmation will help. I honestly wouldn't expect us to be drilled now until Jan.

Destination set to Wren now on the ship. I assume that is North then?

Now it looks like the Brage Viking has been parked at Ensco 72 for most of the day I wonder if we'll get an RNS tomorrow or Thursday to confirm it's route should it head for what should be the sensible option of Colter first.

Are those latest entries buys or sells? Big either way

Glomar Allure.

It'll be there for midnight it seems... the standby safety vessel whilst Viking has been in the port has remained with its destination set at Ensco 72.

Well head work was a long term project I believe. The projects that are on now, Colter, Bunga Mas and Badger are what have been brought on board by Simon to address the long term shareholders that bought in because of projects like IPP. As and when something happens with it I'm sure we'll be told. As I've said Indonesia has a huge power deficit and it has been pointed out that Pertamina are getting quite a big cash boost to move things forward (hopefully IPP being one of them) in order to address the issues with power production.

Well if it ends up mid November the drill takes 45 days I believe so I don't think we'll know the outcome until new year.

Cash from colter will enable others to see more value. Highly unlikely that any more shares would need to be issued as the cash would be there to fund other developments. The company has indicated that they continue to look for projects and as we know won't announce until there is news. Possibly a short list for as and when the cash flow comes in.

Just looking at the scheduling (now I have a decent signal to do so!) the tug pulling the jack up isn't due to get to Great Yarmouth until the 29th at 8am. Looks like they are waiting at sea for a few days and then moving. Maybe the middle of next week is when we'll hear news or at least we'll see the ship move.

Hope so! It makes sense to go there first.

Yep! Destination is set for Great Yarmouth on the tracker

Don't get me started on copl... the ramping pre-placing is unreal! Sat on a mega oil pool though... but Nigeria aren't playing ball there... it seems that the issue sits with government approvals like what we are waiting on with Indonesia. Indonesia acknowledge a huge power deficit but aren't pulling firms in to get going on the gas and oil. The IPP project sits there too and we have the MOU to supply gas the moment we get it. We really need Indonesia to close the deal on favourable terms for us so that we can sell direct to Pertamina and they can then earn off that and keep the lights on for their ever growing population.

Everything has really come about in the last 4/5 months here. I feel his "no frills" approach to news also doesn't help but can fully understand why it is done that way. Running costs for the company have been cut and options at 2p are good signs too.

Well there is also Badger to consider with this company too. The discovery has completed the terms of the license for that we are now needing confirmation that it'll be renewed as well as if anyone will be farming in. A data room has been set up. With Indonesia I believe there was more to it in that other fields/discoveries were also looked at but the new company MO is to only disclose something when it's material. For now at least there's 3 good things here for a 3mil mcap. Colter - likely to be drilled, discovery confirmed (very good gcos), and then sold off. If we get say 50mil from that its a huge difference in cash to mcap. Bunga mas - boom123 has previously posted the figures for this and they was conservative at that but a broker reckoned 100 percent is worth approx 55mil. Again conservative. 111 mil cost recovery to be had on the PSC if the terms we need are met. Badger - 399 bcf of gas and two pockets could be hit with one drill. There's also liquids down there too. I expect this though needs one of the above to help fund it unless the big players of Holywell with deep pockets throw some of their "spare change" at it. Anyone else feel free to add in...

Yeah and what we want is an extension to the original license as that allows for the cost recovery to come into play. We can then get the whole lot for a few quid.

Colter would make sense. As pointed out adverse weather makes wick more difficult and colter is in a better position. There will be less objection to colter being done in the winter too as it's off peak for tourism etc.

Share buy popped up late.

Video link would be good but for those of us that have been here a fair few months we pretty much know just about everything that would be talked about. We'll just have to sit and wait. Mcap is pathetic as we know and when the assets are firmed up, producing and the numbers start rolling is when this should move.

Think I might have jumped too soon... turned around haha! It's destination is still set as ensco 72 though.