Member Info for LeMajor

"hey its gone my cash my fault" - so why are you ****ging off the BoD for your mistake?
I've been here since Tangerine days, but we are resource rich and cash poor at present.
One day it will be the other way around and we'd all be happier if it had happened already, but tough as it is, there is more to do and longer to wait. As for the Bazinski groupies on this BB, you seem to forget, Baz had a vision, but could not pay for it. He needed someone who could raise cash and so realise his dream. He had the expertise and bought the first 80,000 acres over the "sweetspot", but he missed the target - even he got it wrong. and Icewine 2 hit bitumen instead of oil vapour. Little did we know his state of health, and that his colleagues in Bex would be left holding the baby (well 30% of a baby). It is DW who has raised the lions share of cash enabling the search to go on, and even though we did not have a firework display at Charlie last March, the jury is still out. If some of you contracted CV19, you'd commit hara kiri before calling an ambulance. The diagnosis is not yet complete, and even if it holds no commercial value, we have plenty of undrilled acres to explore and the only way to do it is to throw more money into the venture (or trade away a slice of our pie, which amounts to the same thing) - "I am not a Samurai, I am a free man" (was it Patrick McGoohan or Mel Gibson who said that).

Suffering is a state of mind. Most LTH's are frustrated maybe, but so are all the employees and partners. So far only one of our 2 valuation holes have failed, jury still out on the latest for another 6-8 weeks. Of the other wells one was for core sampling, the other was a joint venture in which we participated - the decision where to drill was not ours. DW would probably have waited for 3D

Krone, good link - hope enough gov. ministers see it and push for more trials funding.

It occurred to me that Sareum may be tied down by agreenents with other (foreign/US) parties - however if CV19 is classed as a "National Emergency" (let alone an International one), does that mean we could trump Trump?

As I see it, we have the potential to provide a treatment to manage the symptoms of cv19. It looks likely to reduce those symptoms to non-life threatening in more than 50% of cases and also reduce recovery time. It may be even better than 50%, but we need a large scale trial to prove it.
Does anyone know if this is being pursued? And where?

Animation about the process, if anyone interested:
https://www.edisongroup.com/publication/value-from-the-bottom-of-the-barrel/25649/

Some interest was shown way back in 2013 from a firm with a foothold in Ecuador/Mexico - don't think it came to anything.
Can't find anything more recent.

That should help. Was expecting a rise in June, but could be sooner. Hope to see good times return by end of year (last time I sold was for 13p). It's been a long winter.

Not "dirt" but "diet".

WAaussie, I realise you are living off road kill at the moment and would like to change your dirt to scape goat, but I don't think you'd get any long term satisfsction even if you were able to cut DW's buttons off and wield the cat o'nine tails yourself. One thing he has going for him is a rolling 3 year plan. He always seems to have a few things simmering in the background - we may not know what they are, but they're there.

Spinefx, whatever PMO did, it had to be done asap. To go into protracted negotiations with a buyer was probably not an option. Even if they could have had a fire sale, how much would they have recovered after all the legal fees were settled? They might have taken 3 months, and saved enough to buy a twin pack of digestives for the next board meeting. This was a side project for them, just like Winx was for us - they took a punt hoping for a big splash. The big headline did not happen, water under the bridge. They had a getaway car around the corner with the engine running and they made a break for it.

It's a different calculation for 88e, if the HRZ proves to be commercial (though not necessarily at the same Charlie location,) then we may as well suck out the juice from Seabee on the way down. We will not get that answer until late June or July.
In other words we still have 2 targets, PMO's contract excluded any claim on the HRZ.

It is all a bit speculative as we don't know the details of the decision or the contract, but I would not be surprised to learn that they may have had no option to sell it on, and to continue holding the leases they would probably have to fund 60% of whatever the next stage was. Their debt burden was very high, and although $23m is a pretty small project for them, an indeterminate ongoing commitment may have been pushing the envelope too far. I think it will take them 2 years to reduce that debt by a meaningful amount, and with Covid19 hitting the oil price (and they are a producer,) it could take much longer.

Should add, we have Seabee AND HRZ, but PMO had no interest in HRZ therefore needed Torok too. We still need good results ourselves for a good lift in sp, but PMO's needed better than good.

On balance, I think PMO pulled out so abruptly in order to pacify their creditors who needed to see them taking steps to bring expenditure under control. Had this been a blockbuster, they would have taken the glory, but the early results were not spectacular enough for them to throw more money at further development. For us, a modest success would be a boost, but for PMO with several cash generating projects in production, the Charlie project was not good enough to lift it above the other schemes. With their cadhflow problems, I doubt they could afford to return for areas B or C for at least a couple of years.

I suspect you (& I) have actually registerrd with the host company which then allocates an access level when requested by an administrator (like Brombarb) - you would start with read only access, by default.

Let's hope it is a winner for mankind.
- wouln't do the pension pot any harm either.

Probably to early to know whether Remdesivir would nip asymptomatic carriers in the bud. If someone in a family contracts covid19, just blast the others.
Do we know cost per patient?

Imlom, The Quarterly report from XCD shows how close C-P, Armstrong and Oil Search are to the Peregrine project.
https://hotcopper.com.au/threads/ann-quarterly-activities-report.5336749/
If successful, invitations to the auction will be as rare as hens teeth.

For now we see through a glass darkly!
All will be revealed in the fullness of time ( but please minimise that fullness).

Sorry looks contradictory but southern edge of Willow is 5km from XCDs Northern leases and about 15km to the midpoint of the Willow project.