Member Info for John2525

Jimjam
Hopefully the SOA2 submitted to the FCA is credible., and that the BoD have learnt not play "smoke and mirors" with the FCA. Also note more than 80% of Amigo shares are held by institutions who are still holding.

Deemule
FYI the planning application is for Oil Processing facilities only, if there is more gas then they will have to redesign.
Positive - They have started the planning application process.
Negative - They are still testing to see what they have.

Stevielad66
No basis, I was only thinking that trading would be frantic +/- when SoA2 is published.

Stevielad66
Although we would all like to hear positive statements at the AGM, I'm anticipating the BoD not to make any comments that would cause sp to rise dramatically until dicussions have been concluded with the FCA,
Any views on the possibility of trading being suspended when SoA2 is released.

Persimmon
I agree with your statement re spot prices, when running initial screening economics to determine size of facilities, and number of wells the operating company would be using 50% or less of the current spot price.

Persimmon
Please share your view on how to move gas & liquids from WN.

SelfishMcNimby
There are always "unknowns" until you start operations. so the volume of liquids could be higher. The nearest oil refinery is Lindsay Oil Refinery, problem is it's the other side of the Humber 38 miles away although the distance is not great when you look at the route you can see there will be a whole set of new issues.

To answer your question, I feel a pipeline is the only option.

SelfishMcNimby
My main assumption is that processing facilities cannot be built at WN so the logical location would be Hull, and therefore would require a 3 phase (Oil, Water, Gas) pipeline.
If you could build at WH a pipeline would still be required to the national pipeline tie-in point.

Flatearther
Planning application - This is the easy phase for any development, therefore you can imagine the challenges when bulldozing a 40m wide pipeline right of way across the countryside is required.
If WN is economic it will probably take 5 years to develop.

I'm confident Amigo will continue business, and probable be more selective on who they lend money too.
Received an email in my spam folder last week from a company called BeeLoans, and this is where some people will have to go the interest rates are obscene however they are FCA approved.
Issuing the Annual report now boxes in the FCA on 3 sides, and now all they have to do is finalise the revised SOA which hopefully will not take long.

My thoughts exactly, hoping one these uplifts will be enough for me to get out.

The point is revenue from the asset will take circa 5 years, so major upfront monies would have a major negative impact on economics.

When developing new assets advance payments are reduced to a minimum due to the negative impact on economics, prefered method is with back end royalties.

Need to locate the Processing Facilities first, concept design, environment studies, public meetings, land acquisition, pipeline right of way, engineering/construction, all this will probably take 5 years.

Please read the RNS again, and note the date.

Stevielad66
They should be aware of their major share holders
FYI - Overall breakdown of share holdings.
Employee Share Scheme 0.3% 1,495,399 shares
Private Companies 3.1% 14,589,766 shares
Individual Insiders 4.2% 19,910,988 shares
General Public 40.1% 190,692,251 shares
Institutions 52.3% 248,270,583 shares

FYI
Top 25 shareholders own 52.12% of the company