Member Info for JPKiter

It says dewatering, that does not necessarily mean it is producing only water

If the well has been producing for less than a month and the year average has gone up by 12, does that mean current (end of june) approx 150bbl/d to us?

Would like to know why they are releasing the rig. Why are they not returning to the previous well, there has been plenty of time to come up with a sidetrack plan. Do they have access to another rig or are we waiting for it’s return? When will that be?

Drilling a sidetrack will in this case be most likely quicker than fishing for old coil that is breaking up into sections. The KOP yet to be decided will be chosen by reservoir engineers and could ultimately give better production than the planned work over. Not sure it will show how effective the lift program will be though as it is a new well in many regards. Hopefully should have completed rig move by now and getting ready for next load of bad luck

To be fair, the permutations of what can go wrong and possible contingencies during an old work over are extremely large and difficult to plan for. If a sidetrack is decided that also requires detailed planning and ordering of equipment and contractors. It does seem like a long series of bad luck though. Hopefully this will change. Not sure the government has taken the rig back?? Looks like they are planning to move directly to N2.

Does anyone know if there is a time limit on a CFD? Spreadex were playing games almost exactly a year ago. Does this correspond to the large continual sells over the past month and previous matched sells which could indicate a position closing. Most posters appear to be holding firm, as even with last years poor performance and unfortunate well results, the company does appear undervalued, even more so now.

Not sure what they are up to as last RNS showed no previous holding, so looks like they have bought back in again.

Sancrai 1 was not a duster, it just did not flow. This could have been due to a number of reasons, no explanation following their investigation has been given yet.

Production maybe. Resource huge and not depleting significantly as production is low. Wells being drilled now. Not horrifying.

The number of ordinary shares they held on the 26th of May was 4,386,952, looks like they are out.

MD, I think Irosta owns AO KM and this company is the one registered in Russia. This is why I think a Russian entity could buy AMC (which owns both) with no restrictions as this company is based in Cyprus.

Is there any reason regarding the sanctions why AMC could not be bought outright by a Russian entity? AMC is not a Russian company unlike AO KM and any funds that are currently outside Russia could theoretically be used without the problems associated with the sanctions. Either way, I will be reluctantly voting Yes, furthermore due to my above thoughts I have bought a few more at this low SP.

Wouldn't be surprised if there are some politics at play with the Romanian government and the oppressive windfall tax. They have recently changed the rules for offshore, perhaps waiting for onshore before showing their hand.

The second compressor was installed in February, this might be responsible for a portion of the decline. The first was installed in November during a routine shutdown.

Agree this is confusing as lifting refers to pumps. There are workovers in Tunisia, but this would relate to approx 1400bpd if just from April.

AaBD, whilst extremely disappointed with the proposed deal, I have perhaps unwisely taken a bit of a gamble at the current SP.

With a few million in the bank as well, surely this is worth more than the current share price. Reading the RNS sounds like they have an asset in mind as this would have to be completed within 6 months (not much time for DD). Stanmix may use this opportunity to buy cheap shares and a controlling interest in AMC, effectively reducing the total outlay for AO KM and bagging another asset in the process...suspicious!

I'm probably being too optimistic, but the last holdings RNS showed Spreadex had 2.92% (3% threshold crossed on 28th of March) and there were 2 large trades on the 28th and 29th totaling around 16m. Could mean that they have 2.4% or possibly even 1.4%, without taking account of the following trading days consistent seller. Agree that they will continue to be a drag on the current SP, but a large volume day or two would clear this relatively small amount.

Currently hoping the poor SP performance is just down to Spreadex winding down their position. By my calculations it should be over soon. They are, in my eyes, the only likely continual large seller left in this zone. All others bought at 2p and Crux at 1.5p are hopefully longterm. Agree that communication is poor, but the next few months will see increased news flow by default )looking at last years RNS's, Annual financial report next month, AGM, Q1 results May, hopefully the result of the pump installation and workover. Plenty of opportunity in this period for the SP to regain these frustrating losses and approach true value.

Or have Hadron and Canacord come up with a deal to buy the EBRD shares, replacing those they have been selling down? Percentages are close. Either way, I agree the next month should be interesting.