Member Info for LeMajor

With the Stellar and Bravo multi=stack plays adding up to 970million barrels, I'm hoping for a blue coloured flag on my mast. Given the choice of far-out deals, Stellar would be the prime target at 693m barrels (that's only 88e's share) assuming we puncture all 3 stacked plays on the way down.
I reckon DW has had to fight off interest in that one - but he is canny enough to weigh up the balances, so could wrap up a multi-drill campaign to include Bravo (270 mbbl) for Q1, once the ground is frozen.
Sorry I can't be there on Friday, but sure someone will be recording audio, if not video.
ATB

If we are going to strike out for conventional from the FB base, it will be into the Alpha prospect. It is do-able from IW1 location but would require a long lateral to get there.
DW did not rule out the possibility of using the Northern end of FB (IW1 is Southern end) - this would take us 1/2 mile closer to Alpha - however we are not the only occupant of the FB hard standing, so some relocation may be required from other occupants.

I asked DW about Charlie a month ago (it had been left out of the presentation list but Stellar had been added). He said there were "boring technical reasons" for the omission - did not say what they were (maybe someone spilled coffee over the siesmic?).
The focus seemed to change to Stellar - so I guess the permit for Charlie will be modified to that effect, as they were so close to each other.
As for a CR or JV - I see little difference as either will cause dilution - we either release say 25% of the company or we print 25% more share certificates. If the JV has deep pockets, we may get a deal for several wells - which could speed up future exploration schedules - but we may lose operational control.
We may end up with a modest JV for conventional which partly pays for the HRZ but need a CR to make up the difference.... too many variables, too many options. All will be revealed when DW is good and ready - until then there's Barclaycard. :-)

H'elf, why raise the CR issue when we know that DW is pursuing JV partners via Farmout agreements to fund future exploration? We have lots of acres, they have lots of dosh. An equitable solution will not require a CR but will effectively dilute our shares - but half a loaf is OK with me. I'd rather have £1/ share in 2 years than £2 in 4 years having issued 50% more shares to get there. DW is acting responsibly with our investment cash but there are no guarantees - if anyone wants that then invest in bonds. This is an exploration project and when traversing a maze a few dead ends is to be expected - but getting to the centre is that much more rewarding as a consequence.

DYOR - but start with 88e Wiki

http://88ewiki.wikidot.com/main:about

DW has released news after 4:30 before - see 9th Jan.

The market wants paydirt, until it arrives the oil continues to ferment while pressure is placed on the shareprice. When it blows the sp will fly like the cork in a bottle of fizzy Icewine. Hopefully, we will experience this at the end of Q1 but by then we will have recieved several intermediate bulletins on farmouts, 3D, prospectivity, finance availability/allocation and forward planning on both conventional and shale plays - so any or all of these could boost the SP so when the cork pops we will already be on a higher plateau than now.

Only 88e knows whether it would be worthwhile spending money to draw off more fluid - if it was mainly haulage cost it would be cheap, but if they went for another N2 lift probably too costly. DW did say that regulations dictated that every time they shut down the pipes had to be filled with diesel - so it follows that they have to draw that off and store it before taking out FF, then refill the pipes after taking away the FF.

I imagine there will be an RNS just before the presentation event. Probably a farm out status report followed by some "fleshing out" and maybe some vague statements of intent to indicate the sort of thing in which the BoD will be engaged over the next few months.
I did wonder whether it would be useful to draw off some more FF from IW2 before the winter freeze as I think it will take at least 1 more shut in to get to a 30% retrieval.

we're on the crest of a wave, but some investors follow the tipsters - they will be submitting copy for the "Share Tips" publications ready for the weekend - hope to see a steady rise next week (and beyond).

You've got enough left over for a tank of petrol AND a Happy Meal then!
As expected , v little reaction to the RNS regarding SP, though it was good news signifying progress.
Some more news due tonight but probably similar affect (i.e. marginal) on SP tomorrow.
I would not expect much movement this side of the farm out announcement - which could be as soon as 13th Sept.
(Wobbly, you've still got 9 investing days to get those shares).
Got to go, kids acting up!

Modest 7.14% increase in SP on the back of 5.5M trades. No earthquake, but welcome anyway.

Last year there was only one day between 29th June and 8th Sept when an RNS was published - and there were 3 on one day (Wed 30th August). Two RNS's before market opened (7am), and one after it closed (6pm).
Not saying it is significant, as they are a bit random - but maybe they have a monthly meeting on a Wednesday.

Spinefx, no discussion on the ASX reporting rules - but rather the fact that the 1/2 year report (according to the rule book) should be out on ASX by end of this month (so next Friday at latest). Got lots on at present so not spending much time here, hence late reply.

Suggests ASX does not allow a company to pick its own Financial Year just a choice of Y/E in June or December.
Looks like a new discussion thread on HC and LSE next week.

I think financial advice is more like "if you want to double your money in the next 2 weeks sell x and buy Y".

The SP does not "perform", it is merely a measure of the markets peception of performance.
The market is you, me and ten thousand others and collectively we are responsible for the SP. We are of course influenced by the corporate actions and results - insofar as we (the market) understands them. Unfortunately, the market tends to panic when it fails to address its own ignorance - and there's the rub!
Life is shades of grey, but the majority of the market only understands black or white. This causes panic attacks and the SP reflects it.

Understandable Jaffa. My Sipp is underwater @2.4p avg so I might hold until 5/6p so I can slice out my original investment, but intend to leave the other half until I get a good payout. Some people only think in terms of ALL-In or ALL-Out but having built up a holding over several years, there is good reason to dispose of shares gradually too.
By using a reduction strategy of say selling 1/8th of ones holding over 2 years, the price achieved would be the 2-year average. The sells need not be set on a rigid timetable either - sell on the rises, not necessarily on the peak, but definitely not in the trough. Everyone has a strategy to suit themselves - even if it is "wait for a take-over".
Don't follow me, I want the option to change my mind, even if it is "rainbow chasing" with a small proportion.

Can't rely on "what no buys".... MMs can delay posting a transaction - so someone might be accumulating behind the scenes. Nevertheless, volume is down as PI's tighten their grip.
We are getting too close to the next RNS to sell out yet, with multiples on the horizon, and Q4 only 6 weeks away.
The small sells are more indicative of PI's paying their credit cards off, after summer holidays (or booking some last minute deal).

I would have thought DW would hold off a visit until at least one significant announcement / deal was in the bag. I would think early Sept is unlikely - but wdik.