Member Info for LeMajor

Bittling = bottling.

Brom, are you hinting that permafrost is with us all year round? Has anyone told DW? We should build a bittling plant at FB and sell naturally chilled springwater . It will sell like hot cakes in Brighton.

Dave needs to put a wind-up alarm clock in with next lot of contracts - guarranteed to get opened first.

Porcine virus is rampant in China, Walls get their sausages elsewhere now.

I think coming Friday or the following week is the most likely for FO news or mayme a status report if it's still ongoing. Similar thing for Yukon. Frustration is clearly biting into a few PIs - but no point getting wound up over something beyond our control.

Waussie,, as you have more experience with cars, ponder this....
You see a car you was to buy, get the AA to do an inspection for $40 - the mechanic discovers it needs a battery, 2 springs and $500 welding. You decide not to buy the car. Why? Because the mechanic failed you !

If DW said "weeks", I take that as about 8 weeks (else he'd speak of months). It may be a coincidence but 7 weeks is next week, and next week is when CoP is due to release some strategic news, as per the article mentioned earlier. I am not suggesting CoP will be directly involved in our FO deal but it will be interesting to know whether our FO partner has coffee mornings with them.
Projects tend to obey the first gas law "a gas will always fill the container in which it is put" (something like that). Similarly, a project tends to use up all the time allocated to it - there are always little refinements to be done should there be time available at the end.
DW likes to manage expectations, so if delays are likely we will get an update to that affect -either way within 2 weeks.

Also, https://www.share .com/a-guide-to-investing/all-about-isas/flexible-isas

This is what was o the Barclays link that indicates the Flex Isa is cash or shares:

Why choose an Investment ISA?
Protect your returns from capital gains tax (CGT), tax on dividends and income tax when you invest through an ISA1

Build on your own diversified portfolio and choose from a wide range of funds, shares and other investments

Access tools, articles, videos and research to help you make smarter investment decisions

Transfer an existing cash or investment ISA to us quickly and easily

Withdraw money from your ISA if you need it, and pay it back in before the end of the tax year without using your annual allowance

I did ask HL over a year ago and the answer was something like "There is littleevidence that our customer base have any interest in a Flexible Isa". They never asked me!
No reason they should nit add the feature to existing schemes as there is no obligation for any customer to use it.

Other companies do it but Barclays we've all heard of whereas "Dandelion & Burdock Investments" may be less convincing.

Try https://www.bar clays.co.uk/smart-investor/accounts/investment-isa/
Barclays were not doing this last time I looked, but scroll down the page of " reasons to use us" as it's the last item.

St.Anthony, agreed - better the devil you know. Comprehensive service and good IT systems. My only reason to move would be "Flexible Isa" which the are not planning to offer (where you can take say £50k out and put it all back into the Isa as long as it is within the same tax year). It's accademic though as 88e has not made me enough dosh to be able to do it anyway. ??

Sounds similar to HL. Only did B&I once and I think it took less than 2 hrs to action. The 4 working days comment is obviously a cautionary statement to cover a worst case scenatio such as a volatile market coinciding with first day of the tax year and an avalanche of B&I requests during such an illiquid period.

St.Anthony, this is what HL says about B&I
"We'll aim to place your first deal as soon as possible - usually within four working days of receipt. However, when dealing volumes are unusually high (such as the end of the tax year), there may be a delay."
I may be wrong but why 4 days when you can do it yourself in minutes provided you have some "buffer cash" until the sale money replenishes your account. My guess is that they batch up a number of similar deals and their chosen broker will then wait for a quiet time in the day (when the sp is stable) so do the deal(s) when it suits them. The variation in volume sold and volume bought usually results in the broker "skimming" a few shares (in your case 5,167 shares) as part of the fee. I'd be interested to know whether anyone has ever gained shared on a B&I deal - you could if you DIY them, in a falling market but if left to the broker to decide and I doubt it ever happens. ;-)

DW is very canny with words "in 2020" does not exclude 2019, nor 2021 plans. How long would it take to push a horizontal through to Alpha, or the HRZ? Permits are done.
If we get things right with the HRZ, we won't have to over-winter to get feedback - I think that was only because we went vertical and had so much resulting interference.

The thing about B&I's is that what is important to you is the difference between the buying and selling price, in your case the bid was 0.75 and the ask 0.7523 so the MM made 0.0023p per share.
It is a "relative deal" so by registering both prices under the midpoint, it skews the stats to look like there is more selling than actually takes place (keeps the sp down). If the prices were registered at 0.8 and 0.8023 if would have cost you the same, the MMs would make the same commission, but the stats would be skewed to suggest people are buying.
As Brom often points out, we have to ignore the "matched pairs" of Bed & Isa transactions to see the real trends - even then things are not always transparent (they can delay registering a transaction for a couple of days - especially a big buy or sell) - so you can never be sure what happened until it's in the bag (2 days later).
It's like playing with weighted dice.

We have a combined prospect of over 4bn barrels of conventional and unconventional (shale) oil, and we have only partially covered our leases with 3D seismic - so a real prospect of much more.
88e has two subsidiary companies as well, so the FO probably only deals with the coverage of one of them - we are not pouring out the baby with the bathwater - we have several "plunge pools" of oil to go yet, so there are multiple deals to negotiate over the coming years. We are all waiting for the first such deal to be announced, but some of us will hang on until the last deal - though may reduce our holdings on the journey.
The FO may not be stupendous, there might even be a series of mini-deals, each with its own milestone to achieve before finalising and moving on to the next - we just don't know anything about it at the moment. Meanwhile we have learnt that the Winx area in which we drilled had too much soggy clay (but we could try further north before binning the leases). We have also learnt the the top layer of the HRZ (around the FB location) needs to be drilled separately to the lower layer for the next flow test.
Like I said before: We've got a safe full of money, and a box full of keys. Once we find the right key to unlock our assets, we will never look back - so far two of the keys have not worked, but instead of thinking about the pile of keys in the box, think of a safe containing leases on a half a million acres once we find THAT key.

We've got a safe full of money, and a box full of keys. Once we find the right key to unlock our assets, we will never look back.

Had Winx worked to the extent we all hoped we'd be 4-5 p by now and as much as 8-10 p if the FO was really good. The FO will add 100-200% IMO, so I'd like to see us above 1.4p before it comes. That would give me/us the option to liquidate a few shares and tide us over until 10-15 (another of my milestones - beyond that I'll be looking for 20-25p for another slice. Beyond that may involve waiting until the HRZ is sold off (as I suspect a total sell-out is no longer on tthe cards).