Member Info for LeMajor

Chartman, correct me if I'm wrong but is the performance package, the one with a "go faster" stripe.

Brom, I've forgotten the detail of the scheme, but the really significant conclusion is that DW only gets his bonus AFTER we have seen a significant rise in the sp. By the time he is eligible to be awarded the bonus, many here (who have not completely baled out with a healthy profit) will gladly hand it over. I think 6c (3.2p) is the trigger for one element of the scheme, but appreciate there are other triggers which are not so readily accessible to us punters

CSW, any bonus payments to DW is at least 2 months away from whenever good news boosts the sp to the trigger price (which could be a few weeks/months yet).
Hurdle Price = The volume weighted average price (VWAP) of a Company Share on the Australian Securities Exchange (ASX) for any 60 trading days post the date of the Performance Rights issue

Placements are normally based on a 4-8 week average, the spot price on any given day is a non-starter.
Looks like a few jumped the gun on this one, it will take a bit more patience yet.

Likewise Islandgirl/fella, if I could pay extra to have hindsight delivered 1-day early, it would be worth it.
We can only go up from hear, but cannot envisage double digits until we can see a few oil drums - full !
Still some good returns to be had in single digits, but that will depend on the FO, followed by a drilling plan.
With 2 holes planned for next year, and possibly Ice2H (conceivably in H2) we could get to 9p within 12 months.
Top that up with an FO for the HRZ, and we will be laughing about 2018 during 2020 from a villa in Spain.

DW is managing expectations. He says our ups and downs are what any oiler would expect. Investors usually expect ups and panic with downs - oil investors should know better, that's why the long view is needed here. Winx was a coin toss, we hoped for "heads" but came up as "tails". Suck it up, we will win someday (maybe 3 weeks, maybe next year).

I bought a chunk myself at 4.06p - was chasing an upwardly moving sp which momentarily went to 4.3p.
Learnt a lesson - but obviously not alone in that. Took my avg to 2.4p so will wait well beyond broker forecast at 2.7p. Not sure how far into the future that broker was loòking - maybe May.

Such a mish mash of "Chinese Whispers" from an Rns that still has wet ink. Half the participants here make comments about a news bulletin, having only read every other line. DW still in negotiations, maybe a price has been agreed, but the partner wants to pay up at the end of 5 years. DW probably wants 10% up front, and staged payments over his 3 year plan. They have probably agreed in principle, but the devil is in the detail.
As for LTI earlier, you've gotta larf - Brom says "we've really got to get a deal done", LTI reads "we've really got a done deal". First engage brain, process the data, lastly open mouth - in that order - saves hassle, later.

A couple of years ago I asked DW about his announcements - the one where he copied & pasted the letter head and forgot to change the date. About half a dozen people proof read it and missed the date. I did too on first reading - we were all more interested in the content than whether the date on the page was different than the date of receipt.
Among the proof readers was Cenkos but I'm sure the bod got copies too.

Guzz, if Brom was guilty of splitting hairs, then you were guilty of gilding the lilly. You made an erroneous statement. END OF !

Out = put

Looks like we had a tree shake today - MMs loading up at the expense of those who set up a stop loss. If they were caught unawares and bought them back, the MMs made double commission too. Gotta hand it to them - they know how to out food on the table. .... and a Porche on the drive.

We are an exploration company - why do idiots expect 100% oil discovery every time we drill. Come to think of it we have discove4ed oil every time, but not enough to be commercial. It is a matter of fortitude and so many here have none despite many of us warning that it is virtualy a mandatory requitement. Ignore at peril of your own sanity.

Csw/ Lefty I remember the 100m comment - took it with a pinch of salt as Dave has 49m and only just scrapes in to the Top20. Not sure how seriously Lefty took it as he's filtered, so would not see it anyway.

Just goes to show, it ain't over 'til the fat ladies sing.

Good day. Just need DW to follow through next week.

Killadee, comment?

kelladee, it has been said many times Icewine 1 & 2 were not production wells - so producing oil from them would have been incidental. They were exploration wells - the first to test and analyse the oil content of the rocks/shale. The second was to test how best to fracture the rocks in order to extract oil. There were some surprises when the oil did not flow as well as the theoretical model predicted (those predictions being based on many assumptions). The data produced from the performance analysis has eliminated some of those assumptions. That information is very valuable - to the extent that many companies were willing to pay to see it in our data room. We have 2 wells a few feet apart and the best part of half a million acres of shale left to explore - that's what were're farming out !

Simple really, MMs work on commission - the more panic buyingnor panic selling there is, the more they make. This week they made a mint from the fall, so if they keep the sp supressed for a week or so (to drain out as much blood as possible) they can then let it go when good news hits and make money on the rise too.

"Bigger fish to fry" - typical understatement from DW. Our leases sit over 8Bn bbl oil, our share of Winx was estimated at 140m bbl . It could have been a tasty fish finger but counted for less than 5% of our Conventional prospects which itsekf is only a fraction of our Shale prospects.