Member Info for Kullybahia

Mate, forgot to ask when roughly will Bainet West be drilled in Romania this year? And the approximate cost please?

It's getting traded both ways, so undervalued at current sp.Maybe some window dressing for end of Tax Year? Either way, it's PE is less than 6, so will it bounce next month, and if, how hard is the Question? Got 60-75p target for most, 60p slice for some, 75p all out for others?

Just want to know how Tesorillo will be funded, probably a farm out?Also how do Petrel Energy plan to pay for their costs, as they don't have any ££ either? Also while your asking, any Grancesti work over, or any more drilling in Romania,this year. As they apparently have multiple targets across the acreage? Also will Tesorillo be drilled in the 4th Q ,or 1Q next year. Much appreciated and have a good time mate.

That late buy says it's closer to reversing the sp. May take a week of churn , but it's coming slower than previously thought by many. There will still be a few hitting their stops,but a bit of patience, PE of 6, see 60p as the slice area for many. Some will get out totally at that level, easy 100%

Regardless of those who sold 1st thing, the sp is getting bought at these lows. Over in Canada, the sp has roughly doubled . Should still move up next week, as the deal still stands with Glencore. Wether we get up to 0.5p and more is the question?

Believe there's an option for a further 10 years, after original 10 years agreement, but don't quote me.

Even after all the buying this a.m. and still no movement on the sp?

Should have at least started to move back up, if only a little? Could be a large sell being worked? Trades also drying up,on both sell and buy hmm?

Definitely, mine's one of them, mm's short of shares?Could bounce back from here?

Always said that the company took on too many assets, and no real way to fund all three. Romania was bread and butter, until Selva permit approval. Should have concentrated on more drills on Romania, with revenue within a year after drilling. A year of this and we would have had possibly 3 wells producing? Then get permit approved for Italy, and further drilling programme. Only then could you look for another asset, while selling Romania asset? Not difficult to visualise, but Bod are clearly incompetent. Hence equity placing at massive sp decline to what affect but **** everyone off.Desti said equity raise at this price, but we all believed ED's BS.ED should be kicked out, and someone with experience of growing a oil and gas company appointed. Don't no what comes next, and there's no point guessing. Ed and the Bod have no skin in the business, and it's not their ££ been ****ed up the wall.

Regarding more drilling in Romania, was happy for the company to raise and drill last year, when the sp was much higher. 200 million @ 0.6p would have been great. And revenue by now. Never agreed on Italy, because of the time, not the asset . Don't twist my previous comments on here. Listen to some of Ed's recent interviews, other avenue of funding available apart from equity placing. Anyway it doesn't matter, Ed is obsessed with Tesorillo.Farmout as I've always said. Or maybe 10 billion shares @0.001p if you believe Ed's BS?

The only deal for Spain is to collect all relevant data and geology, then open up the data room.Farm out of Tesorillo is only option after a CPR, to attract a bigger company. Really sorry for all of us, but ED should have raised last year at higher sp.Said this many times, and wished it had actually happened now. The fact that he said on interviews, looking at other assets, just BS to string investors along. Finally the fact that he also talked of other possible finance for future work, more BS.Really really disappointed they didn't do this all last year, would now be in production. Wether a lifestyle company, will find out, all about Spain farmout?

Can't understand why they didn't just rework Grancesti? Unless the operator insisted on Bainet West. Guess Spain is definitely a farm out after all data is available and data room open to potential companies. No way did ED ever give the impression of a placement. Once Selva is in production in 2020, maybe then more drills in Italy by way of loan notes. Disappointed that they didn't raise last year, when sp was much higher, and drilled last year.

800k for 2nd well in Romania, cost of well 400k. So what's the other 400k to be used for? Guess Tesorillo will be farmed out to a 3rd party?

Expectations for the year are, successful workover of Grancesti, all relevant tech and geo of Tesorillo, Selva permit making progress and 3D seismic, and finally a drill of Tesorillo. Only finance of drill to be confirmed, either loan notes or farm out? Much prefer a mid cap farm in on our terms.

The mm's certainly appear to have triggered stop losses @ time 13.33-34? Too much trading for anything else, plus must have buyers wanting in cheap, guess stop losses work for the MM'S more than for retail?

They've got Romania comfortably awaiting further drills. Italy is waiting for production permit to cover the whole license area, and then be able to drill and production straight away. No need to keep applying for a different production permit per well. Spain is all about the appraisal drill, which is more likely to have pay zones as the drill bit goes deeper into bedrock? Just how much net pay of gas, any enhanced seismics pre-drill and wether we farm out or raise ££ by loan notes against Selva booked reserves? Guess the reasons the BOD have spent so much time and effort on Spain? A £50m mcap on successful Tesorillo drill doesn't seem too far off, considering other aim companies with just one asset.(4p on current shares in issue ) The Spain asset if successful, then booked 2P reserves is the number to look out for. Only 9-12 months to wait for outcome, hopefully if we're successful in Spain Desti will be still deramping.If not we'll remind him of his comments here.

LLNP Great answer and very much appreciated by myself and others who are LTH in pxog. Can't wait for 2nd drill (workover of Grancesti) would be nice. Then roughly €1.4m in revenue by year end from Romania? Hopefully ED gets his mojo back into Romania, and we drill quick time.

Could someone more ASTUTE breakdown what Selva 150,000 cubic ft of production per day relates in booked reserves? How long before the well decreases in production volume please? Greatly appreciated.

Just read CLNR rns. Farm out to SHELL for 70% of gas field with 560 BCF. All drilling costs to be paid by Shell up to £25m. We have 830BCF, which could be as high as 2TCF in Spain. No doubt there will be a few mid caps sniffing around , after all the data is analysed and available. An exclusivity agreement for up to 3 months, could be worth anything between £500k- 1m alone? As for Selva producing revenue of easy €2.3m , plus €700k from Bainet 1, that's €3m to start! If ED does farmout Tesorillo, it'll be on very good terms for shareholders. Say goodbye to the 0.20's as this steadily rerates during the course of the year.