Member Info for LeMajor

B'dogg, I'd accept that of the main market, but to be AIM has no rulebook, no police, and no teeth (except those that bite my bum).

Rfarfa, a fully automated software application is rare. Most are parameter driven.
For instance I have a few sub 1p holdings, so why is the spread not the same? It can change (and often does) for no apparent reason on any of them. Even X-chi which has automatic matching is subject to a sudden upturn of downturn on a "last trade of the day" - raising suspicion that the direction of that last trade of maybe 1 share is predetermined on a daily basis.
Nope! Nothing is as automated as it seems (40 years experience of designing and writing software) - rules are conditional, and even if the rules remain constant, conditions often change, so there has to be options to meet changing conditions.

Exactly, we don't know the farminee, so we don't know why their plans should affect us - not long before at least one of those points will be made public.

Although unusual not to have had QR in the 3rd week of the month, we are not in the usual position. Our Big Brother partner must be influencing the delay. We can only speculate as to why. Maybe tomorrow will see a truly transformational joint announcement. Maybe Bex has been bought out, and we have a 30% stake in a fully funded $500m drilling programme.
Maybe one of our subsidiaries has been sold (but which one). The only thing we know is that it won't be long before we know as permitting will have to start in September, so August should be THE month it all kicks off (August starts tomorrow, Down Under).

If we don't find out before the next "Globe" meeting, the question "why so late with the QR?" will surely be asked.
DW is not actually late, he has until the 31st of course, but he is later than usual.
There will be nothing new unless we get a separate RNS minutes before to tell us that the results of 3D or maybe leases have been gained/lost recently, possibly we will get one to say who our partner is - only then will the QR be likely to mention that news about "X" would likely be announced during Q3. The details of the deal (when they finally arrive) are bound to be substantially summarised, and may be wrapped up with a set of presentation slides.
My guess is that DW has been asked to hold back on any formal announcement, as the new guys will follow with a joint announcement very soon after (next week or the one after?).
Not much longer now - it will be Wednesday in Aus tomorrow).

The QR will just be a "round-up" of events for the last 3 months, including the spend, and the end of Q2 cash at hand.
Pretty mundane really, unless they sold Yukon to BP and only now telling us (unlikely).
It will summarise recent RNS's and say that news of the conv. FO will be days not weeks (or something similar).
It will be more reassuring than news bearing - unless there has been a disaster that the media has not noticed.
FO might come later in week, or possibly the 2 weeks following - either way we will get some flesh on the bones before the kids go back to school.

Kawasaki 500cc triple, just the ticket for a mid-winter jaunt down the Dalton.

Muscat the Icewine 1 core sampling went fairly well - there was some contamination but they got good data.
Icewine 2 was drilled vertically, in the same spot but did not flow. They know the problem was rock structure (geological) and next time will drill horizontally to avoid the problem. Without the vertical data they would not have known what depth to go for the horizontal - so you see both drills contribute to the solution. Hopefully the next hole will (in the words of Goldilocks) be "just right". As for Winx, the position to drill was not the decision of 88e, that was already decided by OEL but now they know how to recalibrate the data, there may be a second chance (if there is a next time, I reckon DW will insist the data gets double checked by his own guys).

I would be surprised if the lid can be kept on the FO beyond August. Some permits will take 90 days, some require time for objections from eco warriors, then deliberation on objections. All these will need to be cleared and rubber stamped before ice roads and rig contracts are finalised. Even the end of August is probably cutting it too fine, for a programme to start in December (or whenever the Winter Season is declared "Open").

Unlikely SP will drop, likely it will go up.....why? - because the purpose of the deal is to partner with an outfit with enough cash to fund many wells for a share of the acreage. If it were not so we would not be doing a deal.
SP dropped because we would either have to do a CR or share some of our resources.
Half a loaf is better than none, especially if someone else buys the bread.
The deal will secure a winter drilling programme - how big that programme will be (1,2,4 drills) is what we are all waiting for.
The sp will rise proportional to the next winter programme, as for winters beyond that who knows?
If only 1 of the new 2 or 3 wells delivers on the estimates, funding the next few wells will not be a problem, and may even accelerate the programme. Whether we can extract oil or not, we will learn more about the geology, and what to avoid or cherish on the next one. Once we have cash in the bank from conventional we can go for the shale. The more shale we can fund ourselves, the less we have to give away on the next FO (We may have to give away 65-75% on this FO, but for the unconventional we may only need to divest 40-50% - YGIAGAM). And then there's Yukon.
It's not a question of "will it go up" more about how long will it take to reach each milestone (5p, 10p, 20p etc).
Some are so frustrated that they will sell once they get to B/Even, others (like me) will sell a small chunk at each milestone.
Many who now say "can't wait to get out" will change their minds of it looks like we're on an upwards curve - if they've been here 2-3 years what's another 6 months !

DW keeps a tight rein on costs - so his CFO probably had the crunched numbers by the 2nd week. The date of release for QR is probably dependent on other events. If the FO is coming first then we should get it very very soon. If last RNS is anything to go by, I thought we'd have had it already. Still time to get it befòre the QR but only a few days. If it were me , I'd go for 1 week between them to sustain an upward trend. Not sure if the sequence is very important as long as they're not too far apart.

Phrontist, IBM have very big computers, Dave has a Sinclair ZX80.

Working back from the winter drilling season, contracts will need signatures up to 4 months before starting.
To my mind that puts an announcement within 5 weeks. I can't see any party will take this to the wire, so within 3 weeks is more likely (IMHO) - that's a 1 in 15 chance it will be Monday.

Stockdale, hoping for all that AND a spike - would be nice but no guarantees.

Share Price: 2.66 Bid: 2.78 Ask: 2.89
Spot the turkey !

Time limited at the moment - got to clear the attic as removal chaps coming to give estimates next week.
I may miss the spike but in for the long game anyway.
Chickens, eggs, cows goats and pigs gone.
I decided to leave the amphibians & reptiles (frogs toads, newts & slo-worms).
Still have some harness in barn - not used since my teens.

Not many weeks left this month.
Will the FO come before the QR?
Stay tuned.

longer it's left, the more chance the QR will come before the FO.
I doubt the QR will say much about H2, it will mostly be retrospective.
I hope they don't come on the same day as both will probably have a positive influence on the SP - so a week or more between then might stabilise things.

Because the FO has been a significant time burner, it must surely get a mention in the quarterly report - but which will come first? If the QR comes out on Friday and states that the FO Ann will follow in "days not weeks" we might see a rise in anticipation (not to mention sp). I've wanted us to be at 2p+ before the FO (actually very long before, but it did not happen), but would settle for 1.5p at present (even then still under water, but at snorkel depth). If we can get beyond 3p, I suspect we'll lose many of the impatient moaners, so the run up to next winter will me much quieter on the BB and so will the next visit by DW. If he does visit London this Autumn, will he be accompanied by our new partner??? Stay tuned for the next exciting installment !

I think NYSE opens around 1pm or 2pm UK time (depending on summer winter clocks). ASX closes a couple of hours before LSE opens - so no overlapping "sweet spot" for all three - but we do not know whether our partner is USA based !
Maybe we will find out next week (same day as quarterly report???)