Member Info for Jezzoo

What he said.

Yes, appawiling it maybe but if you think it will go to 70p you must be dreeming.

Not on the edge I hope, my main misgiving with this drill is a repeat of the duster that destroyed the SP the last time we drilled.
I have become accustomed to the safe Canadian aspect to I3E so the uncertainty rattles me a little

porvenireal:
That's the funniest thing I've read today !
lol !

Leonid Brezhnev became Chairman of the Presidium of the Supreme Soviet in 1960
An amazing coincidence what ?

I'm a bit rusty with facts as it's a while back but there has been no mention of the link up with Tain and the legalities of the fields being connected.
I thought the original plan was to join forces with the owners (Repsol ?) to allieviate the possiblity of pumping someone elses oil.
I see this F/O as a positive overall, after the duster debacle in 2019 ? I don't think the I3E shareholders have the stomach to spend money with the risk of another one. The risk is now EOG's with only upside for I3E if it goes well.
We wouldn't have got such a deal with a major I don't think, they would have called the shots and taken the lions share.
The alternative was to drill Serenity ourselves, something I would be against, we are currently doing very well in Canada and the money would be better spent there instead of chasing potential failure in the North Sea.
All in my humble opinion of course

Dartron:
Thanks, must be a first for me to be quoted from another site.
I'm certain that's the case though, we can buy out the farm out with Canadian profits and if ( God forbid) it's another duster we won't cry too much.

On SOLG's timescale we would probably be dodging the Soylent Green police.

Or just the price of oil ?
Serenity F/O could be announced at any time, the last RNS hinted it was almost a done deal.
The perfect storm for a rerate over 30p.
It's been a long time coming but it's been worth it so far for me.
From 90% down at its lowest to 100% up today.
Plenty left in the tank !

I think we are in for a day of delayed trades today.

8.14 and no trades

Brent nearly $110

I never mentioned contracts,
I do however understand contracts are unique to each deal as I've signed my fair share of them over the years.
My last word on the subject.

We are covering old ground here, this has been discussed ad nauseum many times over the last year and the conclusion is there is no definitve answer. There's more than one way to skin a cat.
I may not remember the fine detail in everything I've read but I have a view of it in it's entirety in my head, I know how an internal combustion engine works but I don't need to reread a manual to drive a car.
I think common sense tell you that if you want to sell something the onus is on you to demonstrate the value of thing you are selling and the buyer to satisfy themselves it's worth the asking price once they are in full possession of the facts. XTR own the licence, AA don't, XTR call the shots and if they decide to mine, that's the decision, if they decide to sell AA have first refusal based on data that will be provided by XTR.
That's my view. Lets stop going around in circles with this point, it's only serving the potential for doubt in the outcome of this operation.

Excuse my ignorance G_G_G, but what is "f/o"?
Farm Out !

Realtimerob " I just wanted to highlight the micro detail of the agreement with a basis in law."
Maybe you should be asking a lawyer then, or CB himself.
Most on here aren't qualified to comment or are party to the minutiae of the agreement.

What I said.

I'm not sure that's correct, what if there was 10mt likely ? Can AA say we are only paying for 2mt even though we know for sure there is another 8mt ?
XTR can issue an intention to mine in that event and mine it. AA will just get royalities for a period of time.
Or they can make an offer that's fair for the resource not just 2mt, I may be way off, happy to be corrected, but in my mind just paying for 2mt in a forced purchase isn't fair or legal.

I agree, the pair of you both contribute more than I ever have and I value the opinions of both of you but I could see this escalating this morning.
Let's nip it in the bud now otherwise it will quickly get as bad as last time.
You both have pertinent arguments.
Jezzoo

That's true but AA have first refusa,l not a right to buy. They can't force the issue by saying there's 2mt JORC, what if there is 3mt ? XTR can carry on proving up as much copper/gold etc as long as they like if it's there to be discovered.
They won't be of course, but if there is another million tons to be found in a short period of time it would be criminal not to prove it up and include the value in the deal.
As CB inferred, there are other areas of interest including Footrot that haven't ( and probably won't) be comprehensively drilled, that's leaving the eventual buyer some meat on the bone as far as new mineralisation with the licence is concerned.
All will become clear in the next couple of months or so.
Exciting times.
Better that Corrie too ! lol !