Member Info for Kullybahia

Guess it's the question of how do they fund Tesorillo? A updated CPR is going to attract a farmout, hence the comments in ED's statement. That would give us a free % of Spain, going into the 1st drill. Minimum dilution, and a massive appraisal drill, would boost the sp. Too many are convinced that an equity raise is needed, not if a farmout deal is agreed. Will know when earlier to drilling the 1st target, until then I can't see much happening. The sp would be 1p if Romania had 3 producing wells, guess that the BOD are concentrating all their efforts on Spain.

Great reply from Gunner 1 and Livelongnprosper.Just what is needed on this BB, good constructive info and feedback. Now if they can somehow pull it off, and hit lots of gas @ Tesorillo sometime this year?

With Spain COS of 10% will the AMT survey bring the COS to 25? Is 2D seismic to be used to improve the COS prior to the drilling?Or is it a wildcat appraisal drill? Considering possible 830BCF of gas. Appreciate thoughts from anyone please (apart from Destitute).

MM's trying to keep the sp down. Someone could be shorting? Or they are collecting cheap shares ready for the imminent newsflow this Q?

Certainly hope so, could have drilled more wells in Romania by now. After all the wait and frustration, I expect the Bod to over deliver on Tesorillo to the max.They owe the shareholders , it's our ££ that's paying their wages!!!!

If and when they get round to drilling Tesorillo, if there's a huge net pay of gas ? I'm Saying 175+ feet of gas Does anyone care to have a guess as to what revenue would be? Dependent on flow rates and reserves obviously.

As 2018 didn't really have a positive impact on the sp, I was wanting Grancesti work over to bring double the current gas revenue. £120k per month, would have helped with investor confidence. The BOD are adamant that Tesorillo is the best way forward. Minimum triple digit net feet of gas, to give the asset a buyout chance. And a updated CPR, will attract a farmout deal. The assets are great, but the BOD need to bring in revenue. Romania was cheap, and quick to production, something that could have been worked at in 2018. Just hoping that Tesorillo is the tiger on the leash? If there's a massive amount of gas in the 1st drill, then triple digit gains?

Suppose 1 Romanian drill doesn't cut it with me. At least a huge gas discovery @ Tesorillo minimum. Then this will be £30m mcap, providing they get around to drilling? Italy is 2020 before production, so doesn't leave much to the imagination.

Gold now $1270, if positive drilling news from Dalafin then a rerate from the low sp.

So at least one drill for Romania, even though it's low cost, and quick into production. No timescale for drill. No farmout of Tesorillo, maybe closer to drilling? Italy looks on track for production approval, sometime in 2019, then into production 2020.Any further development of Italy paid by loan notes, so self funded.Tesorillo mentioned a lot, so proving up the geology, and two drill locations means two drill campaign. Hit gas and lots of gas needed @ Tesorillo, then we all make ££.

Now £2.97m mcap, £600k revenue per year. Covering overheads, Italy progressing as by last interview with ED.The question is does the company farmout Tesorillo, and by how much%. And how much £ is needed for the first appraisal drill? Will the company progress Romania? Do they have a plan to drill further wells in 2019, and how do they finance? As Italy is production licence pending.The other two assets are the only plausible outcomes next year. Would welcome any positive feedback on the above mentioned please?

With €510k needed for 3D seismics in Italy. The exploitation permit being currently reviewed by relevant authorities, so decision pending on approval. Tesorillo furthering to drill later 2019, dependent on certain things being approved. Romania is €60k per month, paying for overheads. Why didn't the BOD shoot 3D seismics over Romania? Surely after Bainet 1 was drilled, and put into production in 10 months. Common sense should have prevailed, that Romania is low cost and quicker to production. The sp was 0.6-0.7 this time last year, easy to raise £ and further develop Romania asset? We could have had 3-4 wells in production by now, and a mcap of £12m? Remember that we are an investment company, who have ambition to be an operator of a field. Sub £3m mcap is a joke, the BOD should have chased quick £ by developing Romania 1st, then Italy when permit approval.Just hope 2019 is the year? ?

Romania is where the ££ is made quick to production, a very good statement, AJ . Regardless we choose to invest in more riskier assets, with much longer time frames to eventual production. Could have had a 2nd well drilled, and into production by now? Just how 2019 plays out is anyone's guess(apart from Desti).

Bainet 1 is €60k per month, however Selva is €1.5 - 2.2 m per year. Depends on flow rates and size of resource. Selva is 15× Romania in potential reserves.

So does anyone gonna guess what is 2019 going to bring? When How Cost Drilling Success SP ?????

Nothing much new, apart from upping the % in Tesorillo. Thought would be in new year, guess drill in 2Q? In the meantime, ????? Only other thing is Desti dreamping when decent news, what if bad news. ( Jump off a tall building?) Company solely focused on Tesorillo, Italy 2020 @ earliest. Romania covers expenses, (no further drilling?) Farmout nearer drilling programme ?

Need to make Tesorillo happen in 1-2Q. In the meantime Romania, just Grancesti work over would be enough in 1Q for now. Then production 10 months later. Can't understand why this isn't happening, Romania as Bainet 1 well is evidence, low cost and easy to drill? Clearly the BOD are all about Tesorillo, and everything else is on hold. Getting investors confidence is as much about making things happen, as it's about big projects.Tesorillo has been 1 years of ongoing work, and still nothing to show for. Romania could have had 3-5 wells in production by now. If only the BOD had chased the right assets, and got production. Italy is minimum 2020, so a two year wait, not good enough for me. Nothing to show for in 2018, just Bainet 1 well. I'm so happy that the BOD have delivered zero value for shareholders, keep up the good work of collecting your salaries.

Yeah, destitute always bullish here. Been wanting 0.2p on the sp. Now will say 0.1p next, then 0.05p after that.

It's his ability to turn around the fortunes of ailing businesses. Some are good at it, others are not. He clearly understands retail, yes he appears non corporate. But he gets the job done, that's what has made him over time. And again , renegotiating leases , and cutting costs, and using his logistics network, to fulfil customers orders. When NUFC is sold, he'll be able to concentrate on the loss making HOF. In layman's terms, he makes £ and buys loss making companies, and turns em around. Ask yourself wether SD will be hugely profitable in 3 years time?

Mike Ashley is more brick and mortar retailer, online is challenging. Some like Next have worked hard to keep up with online, and have become increasingly successful at it. SD needs to improve it's online presence, one of the retail challenges facing Mike Ashley.