Member Info for jiddy123

You have totally ignored an integral part of the ANN Blingybird!

Highlights
· Large Condensate discovery confirmed in Torok Formation
· Economic review underway to assess commerciality

This is the FACTUAL position folks:
At the end of the quarter, the Company had cash reserves of A$28.1m, including cash balances held in Joint Venture bank accounts relating to Joint Venture Partner contributions totalling A$19.4m.

That is NET of JV cash - you are misleading investors minime77!

Where do you get those figures from minime77?

The Balance Sheet remains strong, and their is NO immediate need to raise Cash. Figures quoted earlier were misleading and essentially wrong! Here are the salient points:

At the end of the quarter, the Company had cash reserves of A$28.1m, including cash balances held in Joint Venture bank accounts relating to Joint Venture Partner contributions totalling A$19.4m.

In light of the current low oil price environment and uncertainties related to the COVID-19 pandemic, the Company has implemented prudent cost cutting measures, including salary reductions.

As many have alluded to, costs need to be reduce significantly. We should also be in line for extra cash from SOA Tax Credits, although the outcome of Eric Forrer's Appeal has yet to be announced. The Judgement has been outstanding for six months.

Seevee, the trolls will have disappeared in a few days after giving it their best shot.

The ANN was good and bad, although investors saw it as the death knell for the Company. Like everyone, who has/had some skin in this particular game, I am bitterly disappointed, but a large condensate discovery and the HRZ will keep me interested for the time being. I am sure that DW wants the discovery evaluated for Commerciality ASAP. The results of the HRZ core samples will be available in a few months.

I am in no hurry to sell my holding at this price, although I cannot predict what the future holds now.

GLTA genuine holders - I am sorry for your losses!

Seevee, the trolls will have disappeared in a few days after giving it their best shot.

The ANN was good and bad, although investors saw it as the death knell for the Company. Like everyone, who has/had some skin in this particular game, I am bitterly disappointed, but a large condensate discovery and the HRZ will keep me interested for the time being. I am sure that DW wants the discovery evaluated for Commerciality ASAP. The results of the HRZ core samples will be available in a few months.

I am in no hurry to sell my holding at this price, although I cannot predict what the future holds now.

GLTA genuine holders - I am sorry for your losses!

Don't forget 3am start LOL!

I nice summary Reaper, we just need to see the man step up to the plate!

Post of the Day Newanda - many thanks for sharing your thoughts.

Hopefully, your questions will be answered sooner rather that later!

We all had a choice Redirons - many have fled to the hills at a considerable loss.

Some, including me, have taken the immediate loss on the chin. I will reserve judgment, based on the "large discovery of condensate", the analysis of samples from the HRZ" and te fact that we have incurred NO drilling costs. I would also like clarification regarding PMO's 60% WI.

Watch this space!

Many thanks for the update shaa!

There are so many "I told you so" brigade - they will be gone by the end of the week.

Given yesterday's news and COVID-19, I now believe that it is imperative that the company cut's it's Cost base. I would expect an Announcement at the AGM tomorrow or shortly afterwards.

Consider it done - you must like talking to yourself!

That's what I am waiting for Kip, if not the AGM, then a Proactive podcast.

It does say a LARGE discovery - DW will be talking to Gas experts after analysis of the samples.

You will be OUT now then - no need to post here anymore!

FAO wolves2211
https://www.google.com/search?rlz=1C1PRFI_enGB865GB865&sxsrf=ALeKk00WgN10Uhg_gMJR8UzuEdg5agiyBw:1586344096582&q=trans-alaska+pipeline+system+condensate+gas&tbm=isch&source=univ&sa=X&ved=2ahUKEwiS2fii2NjoAhVBr3EKHbuxAlYQsAR6BAgKEAE&biw=1366&bih=625

Yesterday's ANN "Charlie-1 Confirms Large Condensate Discovery in Torok Formation"

Is that a catch question wolves2211?

If we had found Oil, how would we have transported it?

That is why I mentioned OSH yesterday - their core business is LNG.