Member Info for LeMajor

I would have thought they'd want to go into virgin rock, the area of HRZ near to the Ice2 bore will be shattered, so to get a "clean shot" they may prefer fresh ground. I suppose they could go partly down the same hole and bend the drill so as to deviate the horizontal section to be well clear of the Ice2 bottom. Then again they could use Ice2 to place seismic instrumetation to plot the actual fraccing event of Ice2/3H. The planning process will cover all the options, I'm sure but there is always more than one way to skin a cat..

I fear you will be disappointed Phrontist. I took the information to say that the next attempt to produce oil at Icewine2 will be via a horizontal well. For that they need to calculate the optimum depth and direction, as well as deciding on the rig site (which I suspect will not be as close to Icewine1 as this time). Funding will depend on the conventional deal or a specific shale deal - but although the FB site is a 365 day location, I would not expect it to happen before Stellar & Bravo as the planning will take months, and approvals/permits a bit longer - but you never know, it could overlap with the other 3 drilling prospects although I think the Alaska crew will have enough to do in keeping tabs on the conventionals. DW does not always do the expected though.
:-)

Darkelf, I think you've just invented the law of supply and demand. I wonder if DW will understand it?

Could be some regret from rainbow chasers, come 4Q. The rush to get back in here will set this sp ablaze.

Should have said "when we get a deal", not if. That 1.2 bn barrel target, is surely too big to ignore for an outfit with cash in the bank.

If we get a JV deal in 2H to fund Bravo & Stellar appraisal wells would fhat be sufficient to borrow cash against those assets? Even if we sold off a share of the conventional under those western leases we still have the lions share of the other 4 projects and all of the HRZ (depending on how DW funds the horizontal).

Sorry got confused between 400M dollars and 500M barrels. So we are not dealing with 3 times as much oil as Armstrong - only 2.4 times as much - so the value of $4.8Bn should be 2.4* 4 * $400M = $3.84Bn (not $4.8Bn).
Even so, it's still a very big cake, and would fund us for many years of exploration.
If the whole prospect were sold - that would put our share of the pot at around $2.6Bn - almost 50p/share (in round numbers).

Although the presentation is particularly reassuring, there has not been too much emphasis on the Stellar appraisal. Charlie and Bravo covered a prospect of half a billion barrels, but looks like Stellar has deviated the focus a little.
The latest analysis shows that the potential for Bravo has gone down, but the drop is more than compensated by moving focus to Stellar such that it alone has a potential greater than Bravo and Charlie combined - about 800mmbo.
I hope Oil Search kept a few quid in the bank as the deal with Armstrong for $400M only got them 26% of 500M barrels. We know that Bravo and Stellar cover proven oil sands (previous drilling) so during Q1, we have to corroborate the combined gross mean estimates (see P11: 825M and P12: 345M) totaling almost 1.2Bn barrels.
Should the appraisal wells confirm that we have 3 times as much oil as the Armstrong deal, then the value of what we have underground is worth 12 times what Oil Search paid (they only had a 26% stake) - that's $4.8Bn and we have not even touched on the other five targets: Central and Eastern conventional, the HRZ, Horseshoe JV and Yukon Gold.
Of course, to get a deal together we will have to sacrifice a piece of the action, and Bex too has a stake in that $4.8Bn - but it is a pretty big cake, and we can't be too greedy.
We are sitting on a pressure cooker, and when she blows..... there will be no turning back.
Hoping that DW can strike a deal that will provide funding to prove up these prospects over the next 2 winters, with one or more horizontals next summer too.
GLA

I've heard there are customs on Mickeys farm already, and that they are pretty unique.
(and any reference to HBD is purely coincidental).

And good evening to you topo. Can't see much happening in next 4-6 weeks so just popping in here between grandad duties during school hols.Roll on September. Might get 3D results soon but interesting as it may be to those of us interested, others are totally focussed on the sp and crave "spectacular news only". Take care in these cooler months - the crocs get hungry.

Funñy how bchm, first time poster is so used to the rubbish on this bb that he is now annoyed. Who were you before?

No news for a while so bored MMs just stirring the pot in the hope of some commission.

If a surgeon suspects a child has appendicitis, but tests show that the child has a high temperature, he/she may try to control matters with antibiotics for a week or two before deciding to operate.
This does not mean the childs hospitalisation is a disaster, or that the surgeon has screwed up - on the contrary!
The guy is trying to reduce risk and not going for the "main target" until the best conditions prevail.
DW is a pretty decent custodian of my investment, and he is managing the situation in order to achieve the most accretive outcome. This years disappointment with HRZ was never guaranteed to be a success, and may have slowed down the HRZ objective (though for all I know the experts may have anticipated 5 attempts before success, so we still have a few to go before getting it right).
Even though the HRZ project did not end with the best possible result this time, before we get to have another go, there are four other conventional targets on the table, and potentially three of them targeted for this winter.
I suspect the JV deals will lift up the SP, and on drilling success (for one, two or all three) the momentum could push us into double figures. The next couple of months will be a drag though - so best join a kick-boxing club if anyone needs to vent their frustrations - else buy-in a few box sets of Morse, Lewis & Endeavour and chill.

Postman you were right first time - it's "If" not "When" - as the song says "he hears what he wants to hear, and disregards the rest".
Q Assuming the cost of bottling and hauling FF is relatively low, is there any intention to flow Icewine2V and monitor the HC's following the current suspension as you did at the end of summer last year?
A It is possible that we flowback again at some stage. The current plan is to drill one or more horizontal wells, to be funded via farmout.
DW's answer suggests they will not put any specific effort into opening Ice2V - my guess is that if they decide to drill Ice2H from the same location, they may open Ice2v (as they'll have the people and gear there anyway). But if they go horizontal from a different pad (say the north end of FB,) then maybe not.
The one thing of note with DW is that if he has planned it, it will happen - and clearly the horizontal, not the vertical is what is now on the plan.

A CR at 4p? Highly unlikely. It was only above 4p for hours not even days. When a CR comes it is usually at a discount and based on several weeks of stability - no "sophisticated inv estor" would cover a CR within a volatile period such as that. Màny pi's ask DW for what amounts to inside info - so he will give a nebulous answer. If someone interprets it as positive they may pay a price. Best be cautious -we see things as we are.

Few trades today, mostly under £1000 - probably peeps rounding down. A few of the trades have been contra'd off - so either genuine mistakes or the MM's playing around with dummy transactions and then cancelling them. Just looking in from time to time but it is the silly season, in more ways than one.

Ha ha, good one!
Now all you have to predict is which company (we have several) will be sold in October, and what year will the sale take place !
I wish I had your talent for fortune telling, but at least I have a bit of patience to keep me going.

If the company is sold, I believe normal practice is to pay option holders the full SP value, less the cost of conversion (which will be minuscule by comparison) .So at 50p on well over 100M shares & options, DW will be able to fund a few wells in his own back yard.

perhaps they're 'elf conscious.

I suspect DW would make it into the Top Ten shareholders, assuming he takes up all his options. The 32M shares listed are the ones he actually owns today (excluding options) - he has a great deal of wealth hanging on the success of this company, so he's not going to be swayed by the "get rich quick, then bail out" mob - he is a LTH.