Seplat Energy's CEO Roger Brown hosts London Capital Markets Day and focuses the strategy. Watch the full video here.
Rab, the last thing I am doing is arguing against points you are not making.
You struggle to see how DW bought his shares in the open market. Which bit of the transaction are you struggling with?
He has them, his name is against them, he has lots & lots of them. Do we know if he acquired them on the Aussie or UK market?
Such a massive amount of stock didn’t just suddenly appear with his name alongside.
Are you thinking he has acquired them illegally?
Why does it matter?
Let’s agree to disagree about “poke stonks trainer”.
Hi Rab 14:03,
In response Rab, how have they got his name on if they are not his?
The inner mechanics of trading are certainly not my forte but, could someone else buy shares for another person & plop them in his or her broker portfolio?
Can that be done?
The fact is Rab we can see a doubling of DW’s shares since he left the company. We Can see that.
Ok, perhaps on the 'nominee accounts' represent 'sophisticated investors' issue, he is maybe adrift, but to be honest, it takes some understanding, as I show below :
The vast majority of individual shareholders in public companies hold their shares in nominee accounts, i.e. in accounts created by their stockbrokers to record their interest in the shares of companies. Does that mean that in law you are a member of the company with all of the rights and protections provided by Company Law (i.e. under the Companies Act 2006)? The simple answer is no!
Australian corporations law defines a sophisticated investor as an investor that can be offered securities without the need to provide them with the same product disclosure requirements that must be provided to retail investors. ... Issuing product disclosure information is a complex and time-consuming process.19 Apr 2021.
A sophisticated investor is a high-net-worth investor who is considered to have a depth of experience and market knowledge that makes them eligible for certain benefits and opportunities.
Can an LLC be a sophisticated investor?
This means that if you are the sole member of an LLC, and you are considered an accredited investor—i.e. you have a net worth of $1mm (excluding your primary residence), or consistent annual income of at least $200,000 (or combined income of $300,000 with your spouse)—then your LLC is considered an accredited investor.
But Hey Good Buddy, as long as we finish up filthy rich do we really give a ratz rse?
I'm fairly sure DW won't.
Hi Rab79 10:54
If DW hasn’t bought the additional shares, why have they got his name on them? To me it is clear that he has either spent his own money, of which he isn’t short of a bob or two, to buy them, or he has been “gifted” them.
If I remember correctly, he was being paid in shares & also was on a performance-based contract …. But I think that was to kick in when SP got to 3p. Please correct me, if I have the wrong end of the stick on this one. It has been known.
The fact is, he (DW) has them in his possession, with his name on so they must be his. Fact?
Of course, he had inside info but for 5-6 years he has been at the helm & IMHO, still has a hand on the wheel.
He is a strategist & we should be deeply thankful for his nous & for getting us to where we sit today. With Great Expectation.
Would you not agree Rab?
I was merely suggesting that “poke stonks trainer” is doing a sterling job presenting the data available in a really visual & encouraging format & does take it to another level I believe.
Is he being any more speculative than many of us on this board?
Personally & being speculative & not taking the pizza here, I think we are sitting on a SUPER unknown/unmapped reservoir which is going to blow our socks off.
AS usual, GLA, keefy
Hi moda 09:33,
Great spot buddy.
I'm sure you will agree with me, this Kid is the King of Due Diligence (poke stonks trainer).
His presentation is Better than Awesome.
Hey & he is not just ramping, it is all Fact & no Fiction.
Good on Him.
Roll on Final Submissions
Hey moda Wed 19:21, looks like a GDPR restriction on 1st link mate
Read article @ "Oil explorers return to Umiat, site of early 1945 North Slope oil find"
By Tim Bradner For the Frontiersman - Jan 12, 2021
451: Unavailable due to legal reasons
We recognize you are attempting to access this website from a country belonging to the European Economic Area (EEA) including the EU which enforces the General Data Protection Regulation (GDPR) and therefore access cannot be granted at this time. For any issues, contact firstname.lastname@example.org or call 907-352-2250.
But this post below, from your post is truly exceptional. It is definitely (IMHO) a MUST-READ article.
Posted by u/ScarletPimpernel_8 4 months ago
A post on this EEENF sub @ UMIAT
I said it in a post a couple of months back & I say it again, “UMIAT is the key to Peregrine.
My confidence is even greater having read this.
Why would US Navy drill in the most inaccessible place in Alaska back in the 1940’s?
No infrastructure whatsoever.
Dave Wall must’ve known something about something regarding Umiat. He didn’t buy the leases just to improve the look of the 88e portfolio.
Read the article guys I implore you. https://www.reddit.com/r/EEENF/comments/mifsh7/umiat/
as usual, GLA & have a Great Weekend
Hi Brom 18:22,
"if cores are unsatisfactory or corrupted then I doubt we would be continuing with expensive lab tests".
Absolutely SPOT ON Brom & then why would we also be stringing this out until August, only to declare Non Commercial.
The Peregrine Project has got SUCCESS written all over it.
Hi Chrisev 18:43,
Great Article, good find mate.
Extract: - read phrase that stars "Management said hydrocarbon evidence in the latest 5 trims........ found at depths that were among the most prospective".
Then read rest of article.
Is this the zone we didn't know existed & are the 5 samples consecutive?
The old grey cells are in a state of boggle
Happy Weekend, Glad I'm Still In.
Hey WAa 15:49,
why would they drag this out until early August before telling the world there is no commercial oil at Peregrine?
They know what's there or otherwise they would have bailed out by now.
Anyroad up, when should we expect more news regarding Charlie & Icewine in general?
Something to boot up the road.
Hi Kat70 @ 08:01
An insight as to how the case might go:
Hey Olddad 21:08,
Nice to see someone who knows where to be distracted . Just watching the world amble by in a beautiful area of our wonderful GB.
Distraction came from here oldfella: "Sitting outside my tent in the Lake Distract."
Enjoy the enjoyment, glad you enjoyed my post.
from another olddad, granddad & greatgranddad.
Hi JofH 12:59,
So, we as a company are in a similar situation to the Tangiers arrival on the North Slope, that is self funded & JV'd with Burgundy.
Today, I think we are still loyal to Burgundy & we have 4 Projects, all in a healthy state.
We have a willing ally at Inyati, in Dave Wall.
Him being there is no coincidence.
He knows what 88e has in their portfolio & he also has a company that raises funds.
As to which of our projects we Sell or Farmout, I would say we are spoilt for choice.
As I posted a couple of days ago, Umiat & Peregrine could be drilled in the same season with light weight drilling rig 111 & potential start early with Umiat because it is an appraisal only & then move on to step out Merlin & finally drill Harrier as we were hoping to do this year. Light weight drilling is much cheaper & 88e were the 1st company to adopt the practice. Obviously the thing now is regarding Conoco. Are they interested & if so, will they want to wait until we have drilled & confirmed a discovery or are they already convinced?
If they Buy Out Peregrine & Umiat, that leaves us then to Farmout Icewine & get to grips with HRZ & Conventional Charlie etc etc.
Does that seem feasible?
Link not working in Part 1
Article created 24 March 2014, modified 13 April 2015
Bottom Line of Article – “88 Energy is also reportedly pursuing potential shale projects on the North Slope, along the Dalton Highway”
2 May 2021 Advancement - https://www.petroleumnews.com/pntruncate/843228876.shtml
Extract: The April 27 report said these zones “exhibited good shows with potential for pay, subject to results from the testing” it is doing over the next 10 weeks. “An initial mapping exercise has indicated that these zones may be of similar magnitude in terms of volumetric range as the originally targeted primary zones,” 88 Energy added. “Further work is required to confirm this; however, the early work is encouraging.” Testing has begun on sidewall cores, cuttings, mud gas and fluid samples from Merlin 1, with results expected over the next 2-10 weeks.
The operations update also reported that Pantheon’s Talitha A well results on leases adjacent to another 88 Energy North Slope acreage block - Project Icewine - have “positive implications” for Icewine.
Are they about to bring it home?
Adversity 2014 –
Good-Luck, Prosperity, Happiness, Success, Advancement in 2021.
Maybe, just Maybe. https://www.youtube.com/watch?v=YkADj0TPrJA
Be Reminded; we are High Risk, High Reward, nothing in between, certainly not FAANG stock or Dividend share.
Hope you have found it of interest.