Member Info for LeMajor

Not tonight Josephine!
Unlikely we'll get FO news today as nothing announced for market open, down under.
When it comes, ASX & LSE (maybe NYSE too) will all get news within a 24 hour period - no chance of London getting it 3 days before ASX, therefore Monday earliest.

Neither FOMO nor the FO will push this to 30p, however the FO will fund a drilling programme (3 years?), and with each commercially acceptable oil extraction/flow, we will see a jump in SP. The data gathered from our two NS holes, should have us on step #2 by now, but false perceptions that these holes were of no value has knocked us back to ground level. Fortunately, the industry understands the data collected and will make us an offer based on facts and expertise rather than emotions. The FO will therefore put a value on those exploration projects/wells for us, and hopefully put us back onto step #2 (prev high was 4.3p) but how much value will be added having had the assurance that "X" wells will now be possible, is anybody's guess. However, with every success within that programme, we will get closer to that end goal (be it 30p, £1 or £3.50). This FO is the start of phase2, and we still have the HRZ (many holes) and Yukon (several holes), and possibly another (one more) WInx hole to go. Don't give up on the £1 target quite yet - but it won't be this year.
If it's taken a year to wrap up this FO, how long will it take to organise a complete sell-off (answers on a postcard, please)

Just before 4pm there was a transaction for 1.029p designated "Buy" followed 13 minutes later with a tx at 1.031p as "Sell" and nothing in between - why? We often see a "manufactured dip" clise to end of day. Up to then we were showing an up 2.4% but back to zero by EoD.
Will it be the same today? Thus takes the wind out of our sails.

£20k for 2m shares someone looking for a quick turnaround maybe?
Not long now, we'll be half way through July on Monday.

Jiddy, I know you have history with Lefty. I am also aware that he suffers from MS, as do two of my friends - one of which communicates using a tablet, as his speech is incoherent. I tired of the T-line stuff a year (maybe two) ago - so as he's filtered, I had to log out to confirm that is was he in whom your blade is twisting. Just filter, and let him vent - you do not need to get involved in taunting the guy. He believes in his approach, you don't - end of!

1.5Bn is some serious production extraction. We do not need that, it is not in our DNA. We just need a good flow rate over a measured period and then put the cork in, and move on to the next hole. Once we have good flow around the edges and a couple in the middle, we will be ripe for the picking by a major producer - until then we just need to prove OIP and that we can get it out.

They may get 1.5Bn barrels over two winters, but which two winters 2028-2030, if they get their skates on.
It'll be part of a 20-year programme. :)

Clearly, having waited so long for the sp to get back to a realistic level, this is not the time to throw in the towel.
Hopefully, no-one with a substantial holding will dump it all in one go - as too many doing so will halt any rise.
I'm for "trickle selling", though only my small "trading pile" - my big pile will stay put until it hits £1m.
It is to our advantage to keep those MMs hungry by not swamping them with shares, that will keep the pressure on to rise this to a more respectable 4-7p. After all why sell 500K shares at 1.9 when by holding on for another week or two, you could sell 200K for 4.5p and raise a similar amount, with 300k still in the pot in case it keeps rising.
Like a few others, I think 10+p will have to wait until the next drilling project is under way, whenever that is.
I think DW will be able to reveal those dates soon after the FO and our new partner kicks in.
Will Bex still be in the mix, and at what percentage?

88e has spent millions in Alaska. Equipment hire, employees get paid, purchase and service taxes. The state gets it's pound of flesh from hundreds of oil expliration and production companies. They chose to incentivise exploration using state funds (i.e.taxes) to reimburse certain exploration projects. They are not repaying tax previously paid by a specific business, but repaying tax collected earlier from the entire industry in order to stimulate exploitation of the states natural resources.

Brom, with such balmy weather BP staff in Prudoe Bay will be skinny dipping with the polar bears this weekend.

Aah, but did he ment it or did he meant it ?

Can't see much change happening until news of our partner and the detail of the FO is released. Hope to see that within 2 weeks - but prepared for longer. Busy so keepng off the bb for now.

2*Investor, we have several targets to puncture next winter. The stacked plays surely will provide us with 1,000's of bbl/day. That should do it.

Only 1 wheel on my wagon, but still rolling along.

Should be 'to see the detail'

I suspect a quite a few have been bitten and want yo see the derail of the FO before buying back in. When it happens the sp will move quickly. And those holding will mostly wait until it tops out. We aldo have news on Yukon and on 3D to come this summer but we will probably get anpre-Christmas surge as the winter drilling season kicks in. We should see several steps up in the sp over next 5 months. No point cashing in at 1.5p when 8-10p is reachable this year.

Tha sp on ASX is equivalent to 1.05p. Time for MMs to match it by 4:30

No single formula for lenght of DD exercise. I was part of a team of 5. Sometimes my own team of 7 were fully engaged too. I would think the DD team would comprise accountants, geologists, lawyers, production and logistics specialists, chemists and maybe others - all of whom will have access to help sift the data they need. They will report on past & present events and how (if they go ahead) they will integrate new prospects into the current corporate 5-year plan (+/- a few years). That's why it took so long.

Oil Search to the left of us, Oil Search to the right of us (for the moment).
Things are stirring on the NS - and 88e is literally in the middle of it.

Consolidation is usually followed by a reduction in MCap by 10-20%. It can take weeks or years to recover.
If it is followed by good commercially positive news then MCap recovery will be quick.
If the exercise was done solely for II attraction, then it probably took years to recover.
Consolidating a 5p share on a 10:1 basis can result in SP rising to 50p for an hour or two, then a decline to 40p within days. The MMs get a windfall from those who have sell orders for 15- 20p, whoopee!
The company pays out a fortune in admin costs, and the savvy II's examine the motive for consolidation and walk away.
The only chance of recovery has to wait for good news, and that is when the II's buy-in, often having been privy to plans and strategies to which the common man has no access.
I sold out of Dragon Oil at just over 4p, 20 years later it sold for something near £4, but somewhere along the like they consolidated at least once (maybe 25:1) and were dragged out of the pit only when a bidding war saved them at the end. In effect a 3-bagger with a 20 year wait. Lets hope DW has a bit more urgency in mind - even then it is more about flow rate than business acumen.