Member Info for jacklevi

crude my mind often drifts to what SCHLMs take is on whats going on it seems that they have done a 180 degree turn on any future involvement in upstream O/G my guess is they will hold pat to see whats on offer to us before they make any decisions. Interesting few months ahead.

Southern It may have been for more than one purpose If we went down the road of contingency payments as part of any deal you would require an entity where payments were gathered and distributed to shareholders

rocket Agree with you my hope is we get some resolution may be as early as august.

rocket were not talking any longer about a co. sale i think jp quoted that in the that context an asset sale could be a much quicker process and do we know how long talks have been going on?.

Sound As i posted yesterday i blieve the process will be a quick one the reason being the Moroccon government want the TE5 Horst in production by 2021 to accomplish this the building of the infrastructure would have to commence by the end of the summer or shortly after.

eric Agreed a complete waste of time till the sale is completed or not.

Lucky another fsc? to what purpose 90% of the questions will be on or relating to the sale which he would be unable to answer the rest would be where do we go from again until the sale process is complete more unanswerable questions i don`t want any more time wasted on events just get on and sell us for the best price possible.

Jobb agreed i would love to see £1 at least there should be no losers that`t the optimist in me what reality will be i`m not going to speculate i will just hunker down a see whats dished up.

Jobbs to be honest i was in a bit of a state of shock when those 2 RNSs landed not only by there content but the speed at which the 2 decisions followed one after the other. I still believe we can attract a decent offer not what we expected but life never runs in a straight course well mine never has still hopeful though.

Jez exactly so many people still believe wrongly we are masters of our destiny time to let some realism in.

Lelo the petroleum agreement is not exclusively ours it will carry over to who ever buys us and with it a an explicit agreement to have production up and running by 2021. "They would like production by 2021" Before any successful bid is sanctioned by the Moroccon government they will demand it.

Couldn`t sleep last night so got up made tea and got the rich tea out and decided to re-read those 2 bombshell RNSs and try and view them in a detached manner when the co stated no more drilling the were many posts saying we have the money and if need be could raise more i have come to the conclusion rightly or wrongly that decisions made drilling/asset sale was not about the question of money but the question of time. I believe the Moroccons called time on SOU. Since the discoveries on the TE5Horst i believe they had an over riding aim to see production from the asset by 2021 and avoid signing up to another long term purchase agreement with algeria. The planning for this is all in place and to fulfill this aim the construction of the infrastructure would have to commence by the end of this summer or soon after why choose an asset sale and not a co sale i believe that word time explains it an asset sale can be concluded far quicker than the sale of the co.Probably way off beam but that`s how i see it a combination of this and my rich tea done the trick and dropped off at 3am.

Jez I refer back to my previous post

Level He can only push his bullshite to those dim enough to listen to it.

Also an ultra giant Ego to go with it.

Orange You are correct when an offer is accepted and announced there is no point in a suspension when it is required is when there is a suspicion of a leak prior to any announce and the likely hood of a false market being made.

liketogas The co. threw everything at that well to get it to flow commercially Exploration now is over for us and even if we get no buyer i don`t believe it will be a priority any time soon.

keep strangely enough i have mused on that if no suitable offer is made go full steam ahead to bring TE5 into production we still have enough money for a couple more production wells we wlll still need to raise money but with a clear objective should be do able.

davey don`t disappear again you and PNE are some of the few at the moment that bring some kind of reasoned thoughts to this bb.

davey I posted sometime ago after one of the FSC I got the impression that our future was being driven not by what we achieve more by the calendar after the co. announced we will sell come what may after the 3 well program.