Member Info for Jhaylock

Tax concessions:
Typically, 35 to 40 per cent of all petroleum produced and saved from all development leases in the concession area is allocated for the recovery of the costs, expenses and expenditures in respect to the exploration, development and related operations under the concession. The excess cost recovery petroleum allocated reverts to EGPC-SDX in kind or in cash pursuant to the concession agreement. The remaining 60 to 65 per cent of petroleum is shared between EGPC-SDX.

It states for all petroleum produced, if you have a duster you cannot claim the tax back from a producer.

This is cut and paste article, except for the insertion SDX.

jhaylock

Some poster on here do not understand the share price, the quoted sell price is for a parcel of shares, that parcel in a company the size of CLNR natural resources will be small, a investor like MS will have to pay above the buy price to accumulate a large holding. When a placing is made it is not always at a discount two companies that I was in SAVP a placing 30% above the share price, ECO 20% above , if the buyer thinks the assets are worth more than the share price they will pay the premium. The assets of CLNR have been looked at by Shell and been given the thumb up, the seismic data has been crossed reverence with Shells in house knowledge, the value of the assets have been increased but the share price has not reflected it, this is a good time to buy, I am sure you will be able to sell at a good profit during the next 18 months.

jhaylock

I am sorry for all the investors that have lost money in Sound, I have been in the same situation, I lost 260,000 on LGO energy, believed the hype from the directors (David Lenigas, Neil Ritson)and the paid rampers who join up the dot’s which then it becomes fact. I had a dream of a multi bagger and could not see the downside, I though the directors were honest but the truth is on AIM, they all hype the good side and hide the downside, it’s up to you as a investor to see through it, look for companies that have a cash flow and prospect in a prolific area, directors with a good CV’s and skin in the game.
I have managed to get back 140,000 by being very selective and a bit of luck, always top slice on spikes and be patent to buy back in, if your gut feeling tells you something’s not right sell the lot event at a big percentage loss, admit you where wrong and find a better opportunity.
There are better opportunities to get your money back than leaving it in and losing the lot, the gas you have found so far is not enough to pay for the development costs and will be left in the ground.

Jhaylock

Gil Said “The Hammerhead discovery was drilled using our 3d seismic, part of the reservoir looks like it extends into our block, we are already looking into proving this, and if so we already have a mini discovery”.
“Oil and gas fields that straddle a domestic license boundary are often unitized so that they can be developed efficiently and effectively as a single entity”.
It looks like that entity will be Exxon, we will not know the legal outcome for some time, so in the meantime we are looking at prospects that are not connected to Hammerhead. The first drill Jethro-Lobe is more appealing because it has not got the legal baggage of drilling a boundary straddled prospect.

jhaylock

If we find oil that is connected to the Hammerhead oil field, what is the legal position?

I googled this and here is an extract.

Oil and gas fields that straddle a domestic license boundary or a delimited international border are often unitized so that they can be developed efficiently and effectively as a single entity.
I was thinking this was the only sensible outcome; otherwise it would be inefficient to split a duplicate infrastructure.

First we have to find oil our side of the boundary, and then it becomes interesting.

jhaylock

There are many articals in the american media stating the same facts and many shale oil comanies were losing money when the price of oil was at it highest.

https://srsroccoreport.com/u-s-shale-oil-industry-catastrophic-failure-ahead/

jhaylock

No I am saying he was not given the finances to do the job properly, and was overruled by JP.

jhaylock

No I am saying he was not given the finances to do the job properly, and was overruled by JP.

jhaylock

Before drilling the TE-9 well Malcy ask Brian why no 3d seismic, Brian’s answer was that it was too expensive to do over a large aria but needed over the target before deciding to drill.Sound then drilled without it, the 3d seismic is ten times more expensive than 2d but gives 100 times the data, to give 30 percent chance of success without 3d was an internal estimate and misleading. To go ahead without a rethink of the seismic quality is madness; BM needs to put his foot down, I am sure it was against his better judgment to drilling TE-9 without 3d.

jhaylock

Hurricanes energies long term value, is its net back value for oil over a 15 to 20 year period, you do not suck the oil out the ground in 1 day. Dr Trice is 100% sure the wells will flow at the published test rate because they are capable of flowing at double that rate, Dr Trice said “It [the PI] is extremely good … It is up there with the most efficient reservoirs on the planet. So it demonstrates yet again, we've got a highly connected fractured system with a very high oil column, it should be fantastic producer.”
I have had some bad experiences on AIM the only way to invest is when you are happy with the share price top slice, when you are disappointed and think the share is undervalued top up, but you must always be happy with the fundamentals, if you are not sell the lot, I am happy to top up here.

jhaylock

I was at the LSE presentation and could tell by PW body language that it was not going well with the reverse takeover; he would not be a very good poker player. I am sorry the deal didn't go through on a personal level; I would have taken all my holdings out on a SP spike, I say all my holdings because SDX where changing into a company that was getting over complicate, there would have been a over emphasis on the care and maintenance and less on new wells and development. BP was selling their assets because they wanted to concentrate on the more dynamic side of the business, so what would that have done to SDX. Bad outcome for me, good outcome from SDX, topped up this morning.

jhaylock

Further positive meetings held in Cairo, this time with Dr. Sahar Nasr, the Egyptian Minister of Investment and International Cooperation.

One of the reasons I invested in Arc Minerals was NVS, I was invested in Vallar/ Bumi/ ARM.
Nat Rothschild got mugged out of 700 million by the Bakrie family and their associates, NVS was brought in to sort out the mess, he was put under fantastic pressure by both sides, but he did not buckle and got the best deal he could for the share holders. We have one of the best CEO in the business and the board he has put together proofs the quality of his contacts.

jhaylock.

I think a lot of investor in Sound having the misguided view that if T-9 is a success then the share price will multi bag. The truth is that Sound are dipping their toe in the water with this well, no 3d and no core samples, if it is a success it will mean finding small amounts of gas, a vertical well in tight sand with low porosity and permeability will not flow at a commercial rate. With no core sample it will mean drilling another well and getting data to determine were to position the horizontal, after drilling and fracking if you get commercial flow rates you are on the first rung to proving up the license. The trouble is Sound will have to raise more money to drill the production well, so success could mean the share price going down.

jhaylock

Will PW be there?

The Sound Energy path from now on is very unclear; the deep dive presentation made it look like the seismic program was of the highest order but in fact it was done on the cheap. I have share in eight Oil and Gas companies and have never known them to drill a well without 3d seismic, 3d seismic cost ten times more than 2d, but gives 100 times more data. The chance of success of 30 percent using 2d is laughable, in the interview between Brian Mitchener and Malcy, Malcy asked why not 3d (I found this surprising because he is paid to promote Sound), Brian said It is usual to use 2d and once you have found the horizon to use 3d, it is obvious that if Sound done the seismic correctly they wound not have money to drill the wells. If they cannot raise cash to do the job properly, you must wonder what will happen if the campaign is a failure. My advice is take some money of the table before the result of T-9, the drop could be terminal.

jhaylock

I was at a Hurricane Energy presentation in London 2017, the presenter a geologist from Kerogen Capital, was commenting, on the CPR and Fractured basement wells in general. He said “I am not concerned with the well watering out; the distance down to the water table and the ability of a reservoir to deliver fluids to the well-bore (world class PI index) means this is very unlikely.
The one great unknown is the porosity, the granite is nonporous so the space the granite takes up and the percentage of oil is hard to determine, this can only be done by core samples and matching rock outcrops to the core samples. This is not an exact science, but I have done calculations and I believe the CPR findings are on the low side”.

jhaylock

Sorry I did not put it very well, I was commenting on the lack of interest (Number of postings), not the content of any posts.

PS brilliant post hearandnow.

jhaylock

I cannot believe the share valuation on AIM there are companies that are complete rip-off with large followings, SE for instance, if you moved the decimal point to the left would still be overvalued. I lost 250,000 on two companies Quindell and LGO, both worked on the same way hiding bad data and hinting at good future value, the paid rampers on the BB then joined up the dot to make you think you could not lose. But you can I lost half my life savings and inheritance from my family, so I started doing more research CEO previous record, the share register (Directors and ii holding), are they invested in the right location ECT. I have managed over the last two years to get back 135,000 back, but there investors on AIM still in the process of learning judging by the amount of post on this board.

jhaylock

46.25 sell
46.40 buy

Jhaylock