Member Info for JoeSoap

Got to admire his perpicacity in not being duped by the flow rate and "on-90day-test" RNSs...

23Oct17 & 27Nov17 are well within the "18 month" window imo.

It's a stealth top-up from FK.

When they announced the Licence details, it was a "forward looking" statement of what would be available when the current licence expires. They have not yet reached that point in time. They amended the current licence terms as part of the conditions for the next licennce period, and at the time of agreeing to the changes were in a period with very promising outlook. The increase spend may or may not have subsequently proved possible with the unplanned Winter shutdown. Also, their YE cash position would not allow them to make the necessary payment without further help from a supportive shareholder. So, not yet on the new licence, therefore not yet able to apply for Production status and international pricing. Did they need to have an updated reserves statement to support any application for production?

Did you include a question regarding the circuitous loan and why it was necessary to involve CASP? Perhaps something along the lines of this: could you explain why the CEO of CASP would arrange for its wholly owned Dubai registered subsidiary company to receive funds from the subsidiary company of a company controlled by the aforementioned and that the CASP subsidiary company would then directly pass these monies by way of a loan to the same aforementioned, as a borrower, from the parent lending company controlled by the aforementioned? It's been puzzling me.

"I still believe !!!" Even with a sea of red trades the day before the AGM? Got to admire your faith, but have to admit I am at a loss to see what any RNS could say to allow everybody to follow the master and topslice ... ;-)

That was an interesting tweet from RB. The SP has not been down to 44p this month. As Ricfle reminded us the other day, CA RNSed their holding at the end of May as 6.4%, 125.4M [or allowing for rounding, max 6.45% 126.4M and min 6.35% 124.4M]. Therefore, from May 11th, the effective date in the 16th RNS, as the SP rose CA continued to sell from 135.2M to around 124.4M and then executed "Our last trade was a purchase of 1 million shares at 44p." (probably on 25th May after the SP suffered a two day fall and although it continued to fall it was on very small volumes), and then declared 6.4% at the month end. Buy low, sell high! & Keep churning! jimo joe PS 1M x 4p = another £40k on the monthly return, as well as the c5.5M @ c46p and the c10M @ c48p. PPS Makes you wonder where K get their G&A income from though...

It`s a tough game. Ask Pantheon: http://www.lse.co.uk/share-regulatory-news.asp?shareprice=PANR&ArticleCode=xfjw6ifu&ArticleHeadline=Operational_Update Hope the Italian Job level of explosive needed doesn`t blow the plug out. PS Just worrying now, what stops the 'carbonate fragments' coming through the perforations?

Yes cc, and you didn`t mention either 146 or 142...

Seems like you are believing your own ramps... Better check out the licence details again and help them find a couple of million down the back of the sofa, imo...

And it`s RNS-worthy this time around because...

Oops, I seem to have woken up with Ricfle's clothes on this morning... SIPPn00b, I was interested initially in whether you had heard any info that would allow you to be so assertive and dismissive of another's expectation. As it happens, it is just your expectation from your reading the submission. I would agree with that as an interpretation, but I am sure you realise it is not incontrovertible. I do not know why Hurricane introduced the topic, in the Roadshow presentation, but the very wording "Advantages of gas solution - Increase in production to 30,000 bopd.." might well suggest it is not a slam dunk to up production to AMmax, just because previous well flowrates suggest they could deliver that. Therefore, I will wait to be delighted by the news that they can and will increase EPS production and will achieve FOIL this year rather than dismiss the current company guidance and expect it will happen as PIs wish. It was not my intention for you to "detect a touch of animosity in your response", I am well, well aware of your partisan leaning here. I admire your cojones, (they should have been visible in the photo album, imo!) and note your stated intentions. I have seen the �5+ expectations (with full calculations, not just new-car dreamers) elsewhere: and seen subsequent crash and burn with denial beyond the death knell. I also ticked your 12:13!! aduk: it's good to see you asserting that Proactive have erred. ;-) jimo joe PS. Now, about the drilling options...

As you have no more information than that in the EPS-ES submission, I do not understand how you can say Proactive are "wrong and misleading" when they say it is their "expectation". We know that the company has given info on gas solutions, iirc one was to use a pipe awaiting FID, and we know they do not want to inject for at least 3 years, so why raise that flag now?? What none of us know are the terms and conditions of the Approval. Therefore I take this as a nod to the direction they will have follow and suggest that far from PA being "wrong and misleading" it is you. But gas won't matter to you because if all the PI SP predictions hold, you will be long gone... jimo, you understand.

What your source SIPPn00b?

"at international prices in 4 weeks from now." Think so?

FK If the shallows were performing to expectations then I might agree, but as I see it they are short of cash because A5 has not delivered AND is costing ever more to fix, ditto A6 and 801. Why is A8 not mentioned? Look at the Presentation to see the H1 shortfall in production (income) slide 10. They still have to pay for the new licence in June. So, lots of asset potential, but it will need funding. PS. Bus tickets still getting cheaper too!

MO, imo they need to explain why it is so attractive by showing some evidence of why they think it is worth Casp buying it. Two wells "in recent years" rather than the years suggests they are hiding something. How soon does the third well have to happen, before the licence renewal? What else does the licence require? What will the new licence likely require? Why are we told the 2016 accounts not the latest? It appears that they are unable to raise the funds needed themselves and see this as a mechanism for funding their drill.[options are: Give it up or retain 60-70% at no extra cost - seems like one of FK's no-brainers to me!] Casp will have to find the cash though, and that could upset the current plan here. Did Roxi not buy out Baverstock for similar reasons? And is it one of the target acquisitions in the Presentation or additional?

Interesting to see that WHI state "..that casing has been set to the bottom of the Deep Well 801 sidetrack.." I thought the RNS said "after" - as in a forward looking statement as interpreted by Sankey and MO and FK. "..we have decided to stop the side-track at a depth of 4,851 meters and, after running and cementing a 5-inch liner to the full depth of the side-track, to test the well." Better hope they have put the perforations in the right locations, eh? jimo.

HH, err not quite - 2/3 is $16M. ;-) But DD has been carried out by two patsies and they consulted the Nomad, so it's all OK. Nevermind that the original annoucement said "..compliance with the AIM Rules for related party transactions, the UK Takeover Code and the approval of the Company`s Independent directors AND Shareholders." Not quite sure how CC [wearing the Executive Chairman, SFO & company secretary hats] is considered the second independent Director. jimo

and yet each is at a lower price than the preceding. Will we see a subsequent trade higher than the 10.155 today?

cc but he`s only looking for 11,000...