Member Info for jono44

ASW-1X exploration well

Following mobilisation of the Sino Tharwa-1 rig to site, the operator of the Abu Sennan licence, KEE, has notified the Joint Venture ("JV") partners that the ASW-1X well has commenced drilling. This exploration well is the fifth and final well to spud in the 2022 drilling campaign and is targeting un-risked mean recoverable resources estimated by United at c. 8 mmbbls gross in multiple reservoirs. The ASW-1X prospect has been de-risked by the HF36-5X discovery made in an adjacent block in 2020, and by the results of the 2022 seismic reprocessing on the Abu Sennan licence, which has provided improved imaging and definition of the ASW targets. If successful, the well is expected to be quickly tied into existing facilities, adding additional production and revenue for the Company.

Sound familiar, sound good.

The ASW-1X well was drilled to a Total Depth of 3,640 metres, 10 days ahead of schedule and under budget. Although the well encountered net reservoir in the Abu Roash, Bahariya, and Alam El Bueib targets, the logs did not indicate the presence of hydrocarbons. The results from the ASW-1X will be integrated into our subsurface understanding of the Abu Sennan licence, and the additional data used to help prioritise future drilling locations.

Words don’t guarantee a positive outcome.

Sp not following gold price yet, maybe market waiting on dec update.

I believe gold will continue to rise significantly in 2024 and into 2025 along with a big crypto rally from now to 2025.

Hopefully shanta's sp will rise proportional.

To see the sp linger around these levels can only put it down to persons who exercised warrants selling just enough not to drop sp but stagnate any rise even after good news, just wonder how long it will last.

Excellent update and encouraging to see production from montara going from 5700 to 7500 bbls/d, Akatara on target, current production up to 20,000 boe/d,

Looks like jadestone back on track and look forward to a profitable 2024 and a return to a decent sp.

Chinch, very hard to trust anyone these days, ceo's, posters on forums and never trust telegram.

Larkin has covid, is it the covid he had on 25th Nov 'after' his trip to Jamaica or has he got it again just as he's about to leave on another trip to Jamaica, good to know he can travel but cannot take time to talk to shareholders

Also good to know that the asd1x well is drilling and has been for 2 weeks which would put the spud around the 19th/20th Nov bit behind the next few days stated on nov 9th!

Poor excuse about the supermajor that pulled out, hows the technical work progressing Brian you know the technical work that you did so well 2 years ago?

Cant believe he's blaming the cfo for bad pr, I never seen the cfo on proactiv or malcy, just seen an accountant.

Don't believe anything unless it can be backed up by facts, if the asd1x well has spudded say exactly when it spudded that's a fact not oh a couple of weeks ago thats just not good enough.

Don't think anyone will be surprised at today's news.

Why were high net worth investors selling, COO leaving, head of investor relation gone, CFO latest to jump, think its obvious why.

Can't believe larkin is still pushing the Jamaican govt for an extension because he wants to do additional technical work after stating 2 years ago that they had completed extensive technical work!

Think the Jamaican govt will be asking questions.

But they need a carrot for the gravy train to continue.

Very surprised that Larkin never included an update on the well that they are apparently drilling in egypt.

On 9th Nov they said it was 'expected' to commence in the coming days so wouldn't an update on when it spudded and how it's progressing been a bit of good news to soften todays bad news that's of course if It has spudded, who knows.

GH, just noticed my reply to your post on Jamaica being worth $100bn or the same as BP's market cap has gone.

Also Gh could you please do your calculation and post it here I'm sure everyone wants to know the fair net asset value on an asset worth $100bn. Hope it's not to complicated and you can explain it to everyone.

I don't think it's possible myself because you don't have all the required info and also you would have to make quite a few assumptions but if you think you can, please do it and share your knowledge, thanks.

BlaimThrower.

Your right, can lead a horse to water!

Lot of guys don't like it when the facts are explained in black and white and resort to insults and reporting posts, another post of mine disappeared again and in no way did it break lse rules, just probably annoyed someone who didn't like their own words posted back to them, says a lot about them.

chinnnnnnnnch

Think you are more fixated on a placing than me as you keep referring to my past posts about it.

Also maybe you should read the news releases on tmx.com for Jesmond and then maybe you might understand my comments on Quattro applying for new licences in the NSTA 33rd licencing round.

Not good news is it.

Few red flags.

Firstly, there was no ' pleased to announce' in the first sentence!

The they state that they intend to go back to the Jamaican govt and ask for an extension to the current licence period so they can do additional technical work!

Now remember that they got an extension 2 years ago and stated before that they had already completed extensive technical work, and who's going to do this additional technical work, not the two bean counters that are left and they let the only person capable of doing it go.

As far as egypt is concerned, I reckon that current production over the last 4 months is about 800bopd, ignoring gas, so current production will be less than that.

If, and remember new well is an exploration well, the new well is successful its just another sticking plaster.

Next red flag ist he fact they haven't received any $$$$$$ since August.

Now I don't think BP will want paid in monopoly money so wonder how the repayments to bp are being made!

Anyone like to guess what the price will be if an extension to the big Jamaican carrot is unsuccessful.

Just like to point out the above post was originally posted at 11:29 and was removed, dont know why as it doesn't break any lse rules unlike some posts by others.

GingerHippo that's absulute nonsense.

Peter Dunne stated in the presentation that the BP loan would not be paid off until jan/Feb next year!

Positive cashflow from where and don't say egypt as everyone knows that egypt can't pay its own way and only for the money from last year's divestments kept it afloat.

Maria was the lifebuoy uog needed but now it's gone.

Looks like Quattro hasn't secured any North Sea licences going by the press release yesterday from the NSTA which maybe was a reason Maria was binned.

Take it everyone noticed the last paragraph in the rns,

"Our focus remains on progressing the farmout of Jamaica and the upcoming drilling activities in Egypt including the drilling of the ASD-S-1X exploration well later this year."

Thought the asd well was suppose to spud in September then October and now later this year

What does that say, no money!

Jamaica or bust indeed.

Think a lot of people just looked at Q3 update and compared it to Q2 without looking at Q1.

Q2 was exceptional when compared to Q1 but because there has been a very slight fall in overall production between Q3 and Q2 people might be ignoring the massive increase from Q1 to Q3.

Just need to look at how net debt has been decreasing to realise how well Shanta has performed over the last 9 months.

Can't really find anything to be concerned about, all good.

The Company has certainly performed exceptionally well and

Chinch/ loads

Don't know why you think I'm misleading this bb about Jonathan Leather, all I've stated is that he has left uog as part of their cost cutting not disputing the fact that he might be consulted on in the future but he is no longer a director.

As far understanding the financials I think I'm one of a few who actually does understand them.

Not fixated on a share issue and BL seemed quite adamant that he won't do a placing just now but wouldn't rule it out in the future.

They seemed to be Indicating that they might refinance the bp deal for abu sennan what message does they imply to you.

Did you notice in the financials that they never paid the full amount to bp in h1 and Peter Dunne has said that the debt would now not be paid off until jan/ Feb next year and not dec this year, why?

I do think that the right deal for Jamaica would be game changing and have never said otherwise other than be concerned that the deadline keeps being extended as is the case with Maria.

Glass half full or glass half empty, hmm.

Have a good weekend.

The df

Surprised your still allowed to post on lse.

You must be the most insulting, disruptive poster I've come across just as you were when you used to post as Formerfd and TeleTim65.

Thought your posts on the harl board would have seen you banned by now, quite disgusting some of them.

Just noticed link on website, posted today, for investor meet webcast replay.

Loads

A new project is wishful thinking especially since Jonathan Leather has left and the funding from bp for egypt hasn't been successful as far as Shareholders are concerned.

Shares suspended at 4p, placing at 3p and look what BL has achieved since.

The only ones to benefit have been bp and of course the directors who until now have enjoyed a very handsome remuneration for the past few years.

The last payment to bp is in Dec so that might help keep the wages getting paid into next year.

Interesting comment on Jamaica.

Uog must be going for a free carry if not raising money.

Hard to see someone else take all the risk especially at 19% gcos.

Did uog say that the investor meet would be posted online, I'd like to hear exactly what was said.

Meant NSTA 33rd not 23rd licencing rounds

Chinch,

Would take what is said with a pinch of salt.

Fact is Jonathan Leather and others had to go to save money, which they have confirmed.

Still say it's not the right message to send to the market.

Still wouldn't rule out a placing at some point regardless of the fact they say otherwise.

Was the need to raise funds brought up in Q&A in the meeting or stated as part of the presentation, haven't seen a recording online as yet, has anyone else?

Agree that everything comes down to Maria and Jamaica.

Maria just been kicked down the road once again and looks like it will be again.

Just get the feeling Quattro are holding their cards close to their chest and are waiting to see the results of the NSTA 23rd licencing rounds before committing themselves, just my opinion.

Also the Maria licence expires Dec 2023!

Jamaica, the big carrot, licence expires Jan 2024.

Like Maria keeps being pushed further down the road and now say they expect to move forward to commercial discussions with a preferred partner over the coming weeks.

Leaving it a bit late imo and the nearer it gets to Jan 2024 the weaker their hand might get.

Providing they have identified 'a partner with the right skillset to compliment our work'

Really, hope bp or shell have the right skillset for uog!

As you say going to know very soon.

Got a feeling that with all the buys that seem to be going thru this week and not having an affect on the sp there might be another sell order on the books to follow the Newlands.

Just speculation of course.

Loads,

Was there any questions from shareholders put to the board at the end and will a recording be available online.

Reason I'm asking about questions is because the last webinar recording online did not include any questions. When I asked why no q&a they blamed the company that recorded the webcast, they wouldn't have left the q&a out of the recording without asking first! Imo.

Surprised only 5,594,944 warrants exercised in sept.

So leaves about 40,713,307 still to be exercised mostly in October.

Interesting to see how SP holds up over next 3 weeks.

Loads,

Your right no need to tr1 as they only held 2.75%, 18,0500,000 shares.

Interesting that Larkin said he didn't need to raise capital. Don't think there's much chance of any new projects after letting Jonathan Leather go and in reality they don't have any money to do a deal.

Did bl say anything about Maria or Jamaica that wasn't just blether.

Tyla

Imo there was a few delayed trades totalling about £225k over the last week seling between 0.85p and 1.06p, could be the Newlands had a sell order executed over the last week or so.

Loads,

Do you think the Newlands/seller will buy back in?

Obviously would have to be at a lower price than they sold, maybe a placing on the horizon.

What price do you think they'll buy back in.