Member Info for LeMajor

So assuming it all happens, we have Armstrong to our West, C-P to the North and the Umiat discovery about 100 yards to our South. I assume there is 3D covering Umiat, so that will overlap XCD'S (soon 88e's) 200,OOO acres. The Willow and Harpoon projects (C-P) are maybe 5km away.
Umiat will need a road at some point so if we prove our acreage whoever buys it from us willl probably buy Umiat too. They might even enter into an FO with 88e in similar fashion to PMO. Then again with Armstrong and Conoco rubbing our boundaries, will one of them partner us or would they let Oil Search in on the deal, who are only 15km away? (Same distance as Willow)
Maybe not such a bad deal. Don't take my word, look at XCD 's quarterly report.

Should have added XCD still has 0.1c to go.

Sorry WAaussie, looks like my earlier post jinxed it. That currency correction came sooner than I thought, but come it did.

ASX sp is difficult to assess, so just doodling.
LSE presents 88E sp @0.25p, which is equivalent to 0.4782c rounded to 0.5c - yet ASX says 0.6c (Chi 0.6c)
The XCD buyout price is 167% more than 88E, so that's 0.4782 * 1.67 or 0.7986 rounded to 0.8c - yet ASX says 0.7c (Chi 0.8c)
It is not easy to convert the other way because the rounding on ASX is too coarse (erratic even,) at only 1 decimal place.
Using the 1:1.67 ratio, and taking the LSE price (0.25p) as the base value the only values that fit are 88e @ 0.5c & XCD @ 0.8c.
That is to say, when things calm down the relationship between the sp's on ASX is 0.5c & 0.8c ('coz 0.83c is rounded down)
At 0.6c the sp for 88e is overstated compared to its LSE value, so at some point a correction will mean it will drop to 0.5c or the LSE value will rise by 20% to achieve equilibrium (if the latter, then XCD will have to rise 20% too).
I would prefer the 20% rise option, but 88e has a tendency to do the opposite - I live in hope!
As I mentioned previously, I think little will happen on LSE (except for the possible 20% correction) until the XCD deal is put to bed, and about the same time we should get some news on Charlie (no point releasing good news on HC's until this muddle is sorted).

That is...handbrake.

Until this deal is concluded, I cannot see LSE taking the lead. As sp of XCD is worth 88e * 1.67, should 88e rise, then XCD should also rise a bit more (67% more) so I would not be surprised if the hadbrake is applied for the duration.

I remember DW had a finger in a Mongolian gas project, but not followed its transition from Elixir to XCD. Considering XCD is down 65% (ish) since January, 88e is offering their investors respite rather than riches. I wonder what else we don't know - and when I don't know which fork in the road to take, I tend to pause for a while.
Maybe 4-8 weeks to ponder.

E-AL, I think I qualify as an LTH. You may have a point regarding a number of alleged LTH's and maybe a few verifiable ones - there is a lot of frustration at present. Some get out, others lash out - but the majority just shrug their shoulders and wait for the next news bulletin. As for our latest position, I see value of my holding reduced as a result of an early summation of the drill result. We await a fuller and more significant report, which will take another 6 weeks, if not 12. With the Covid19 and Price of Oil issues hanging over the industry like a dark cloud, I can't say I'm in a rush for the results - I'd like the other clouds to diminish their influence first. I think PMO did us a great dis-service by pulling out so dramatically, but if their shareholders and creditors are as impatient as many of ours, I can understand it.
We could well find that the Western fairway will depend on the Middle fairway to become profitable, so spreading the infrastructure costs between them. On the other hand, the results may show that a more favourable drill site is the key to success. We will not know the answer until the fat lady sings, even then she may be a bit croaky.
As for marbles, I used to keep mine in an old leather purse my mum gave me. I'd never let them loose on sloping ground unless you can run fast. Letting them loose on flat ground or indoors is best, else you risk losing them.

I thought today was Thursday (lock down stir crazy) - only 60M transactions (so far).
Maybe a secret trial is about to have its conclusions published - that would make me delirious if not happy.

No chance of a takeover/buyout until we have proven reserves. Ideally, those reserves would be commercially viable otherwise it's like buying an old car without an MOT- the only buyers will have to have deep pockets, and enough expertise to develop it, no matter the cost. With PMO pulling out, any potential buyer would be very sceptical.
Let's hope the lab results will tip the balance. As anxious as I am, there is no point rushing this, if anything, this should be treated as non-urgent. This will give time for CV19 to be more accurately assessed, get the world ecconomies moving, and start to burn up those oil reserves so raising the PoO.

That's how I see it Mhawk, they would not only have had to find 60% of further proving costs, but would have needed to appoint a management team and travel expenses, at a time when they need to cut staff and overheads. They either had to go large or pull out. The Oil and Covid situations took away the option to sit things out for 3 months, time constraints forced their hand to make a decision right away. They did us no favours in pulling out so quickly, but the silver lining is that we have reposessed the land, and can sell it again. Next time we do a deal on Area A, it will be further derisked by the data. Yes, we have less bananas, but those targets which have not been eliminated will be better understood, better quantified, and further optimised. The big question is whether to stay in Area A, or to go to the middle faiway (B) which if proven will give us a shorter route by which to return to the Western fairway (A). Beyond that is the ever present question of funding - will PMO resolve their present predicament and return for Round2, or do we look for a new partner? We could divert some attention to Yukon if it had long term benefits. Time will tell, not long to wait.

Not so much slick as oily.

I heard we could get 3.142p for our piece of the pi.

vase= case

Oil in the ground is like holding a 5 year bond - you can't touch it, but comforting to know it,'s not going away. In our vase it will take weeks to quantify but at least we have something to quantify. Even if it is not immediately viable, all we need is another well nearby to make it so - either us or neighbour. Still a waiting game though.

....ready too.

As you say, the conventional play was PMO's hope to make a killing, for 88e it's part of plan B. Anything that comes from it would help justify the HRZ, and would utilise a shared infrastructure (roads & pipelines). Because of the interconectivity, DW may hold back delivery on Lima/Torok formations until HRZ data is readytòbç

ATB, Islayman.

Maybe BoD are buying up the slack (cheaper than their options).

A deal on the condensates would be handy. Not sure how far PANR are from Charlie but a Northern lateral into their reservoir, plus a southern lateral into ours might be worth giving away 40% royalties, and provide ongoing cash flow. The 2 fields seemed close on the map, but without a scale can't be sure they're close enough. If they drilled into the HRZ at the same time we'd get out 3rd core sample too.