I can’t see how it’s possible to not get approval, I mean the fda set/agreed the parameters for our phase 3 trials ! However I would appreciate anyone playing devils advocate and giving any plausible reason based on known facts how we could get rejected?
Ezhik to keep faith with shareholders they have to go through with 180 contract, anyhow we need multiple decent rigs out there to make up for all the wasted time.. it’s almost 4 months since we started the preparation work at c-37 ! And still the right equipment isn’t there to try and complete anything meaningful... It’s just absurdly slow !
The more I think about it the more I believe that the lock down at motif is because we’ve got a buyer lined up post approval. GL and his small team have worked minor miracles getting us this close to approval. If approved they’ve won the war, combined with the fact the our expertise isn’t in the marketing and commercialisation space then surely a sale is the logical position to take? Maybe the partnership line was always a bit of a red herring?
Thanks for posting Ian , interesting. It does beg the question as to why as a small independent we wouldn’t look for a buyer post approval and say our job is done here?! Why keep on the fight trying to commercialise over the coming years.with a partner, when we could sell out for multiples of current sp and everyone bod, ii and pi could walk away extremely satisfied with the result ?
Getting the permits will give a spike here nothing more, ithey’ve spend €43m to generate pocket money...the permits would mean in reality someone needs to spend the same again to do anything vaguely meaningful.. how’s that commercial?!’ Answer, it’s not, which is why they’ll try their luck on another field they’re given for free, and keep mug punters on the hook of another dream
I posted the below here last August, people were giving me all sorts as it didn’t beat to their drum around the possible sale at the time, but it does highlight how easy it is tfor ast to carry on in Croatia of wherever and why a lot of punters get drawn in and lose big across the board on aim. £200m npv is completely irrelevant it means absolutely nothing if you can’t get oil, gas, gold,,copper, lithium or whatever you may be trying to mine or work over out of the ground commercially, and it’s unarguable now that ast have not being able to make it work ..€43m spent to generate circa €1.8m a year in revenue..you do the math!!!! that’s why dozens of these fields with npv of £200- £1bn are given away all over the world for next to nothing because most of the time they can’t be made to work commercially. Also, because you’ve spent €43 it does not mean you’re entitled to get it back, it doesn’t work like that in any business whether on a gas field or on the high street. It’s not a loan that someone owes you and you can call on it’s a speculative investment by ast that they haven’t made work.
People believe news of a partnership may well come after approval, I would think they’re going to have to mention commercialisation plans on the day of approval as part of the rns, as GL always said/suggested they wanted to be selling Iclaprim straight away. If nothing was mentioned on approval I would be concerned that they haven’t being able to get a suitable partnership. May however make a quick sale to big pharma more likely though
I’m expecting an rns next week saying the tender process is complete the rig will be mobilised and drilling at c-37 will commence mid Feb with results mid- late March. Switch off until then. Hopefully rewarded with a massive result
Harrizma in fairness to ajb we have had a lot of false dawns over the last couple of years and the posts you write now are very similar to a lot written over that time. 14 months ago we had a blowout at z-21 because the pressure was so great, and yet even with the oil blasting out we still haven’t managed to actually get it out of the ground commercially ! So while ducks maybe lining up and 2019 may well be our year, I think you should understand long term investors reticence in getting too far ahead of ourselves. Also going on about bus pass money isn’t a respectful way of having a dig at anyone..people invest what they can afford to invest and shouldn’t be be mocked for it
Ezhik I do think with the multiple rigs and opportunities, this year will finally be the breakthrough year for zen. Although I think it’s probably going to be mid March before we get c-37 results, hopefully positive news will come at regular intervals from them on through q2 and q3
Sarge I don’t know how/where I’ve missed this but can you show me where we’ve previously been told that our team on the ground are not participating in the drilling of c-37 and we’re outsourcing the operation to an independent team via a tender process ?
Do they wait until the rig is ready to transport before they “define an agreement” with a logistics company?! They’ve had 210 days to get that agreed. Why when c-37 is ready to drill do we get an rns introducing a previously unmentioned tendering process for drilling?! We now won’t be drilling until Feb with probably no results until Mar....there’s clearly a lot of good stuff going on and still enormous potential but the forward planning and wasted weeks and months leaves a lot to be desired . Catch up with you all towards the end of Feb then !