Member Info for Linton78

Simon Potter told me this on a call 3 years ago - stressed the point of a rig coming from GoM... when a deal is complete of course.

Jgbb - the hurricanes usually strike across the Caribbean in sept / Oct. The best weather and peak season is usually jan to March so that’s when I would expect a drill not in Q4. The rainy season official starts 1st April but in reality it hardly rains until end of August. They will need about 6 months lead time to plan and order the rig but the company are adamant a rig will be sourced nearby from the Gulf of Mexico. As long as drill that’s the key for shareholders ! I don’t really mind when after waiting all this time. GL.

Late Q1, 2019 most likely. They will never drill anywhere near hurricane season in these waters.

It could well be Mike. GLA.

Oilbell - if they pull off a farm out with a 10% reatin this share is an 8-10 bagger from here IMO.

It’s bog standard stuff... just updating shareholders.

http://m.tribune242.com/news/2018/jun/14/oil-explorer-targeting-window-of-opportunity/?templates=mobile

I thought this was BS as well but its in the BPC presentation from 2010 on their website... it says data worth $500m - if gathered now (in 2010).

10% retain with a free carry on the first drill....

25% retain would be a fantastic deal for us. a 10% retain would still see this 8-10 bag from here IMO.

to buy ive just been quoted

They only found traces of live oil and not in commercial quantities...

It’s off the table. Not an issue anymore.

This board is comedy gold...

that's right Statoil walked away but no oil regs were in place at the time. they farmed in in the first place due to the asset which proves the investment case here to a large degree.

Lol, just reading this with a massive hangover... that last line made me laugh!

Oilbell - If you would be kind enough to do a valuation with a 40% retain and oil at $80 that would give us something all to dream about while waiting for news... :-)

I think a £500m market cap could be seen if the terms of the deal are half decent, say 30% retain. A rough calculation, that equals 37.5p. With the hype etc that we have seen on previous AIM drills a brief run up to 50p is not out of the question. High risk / high reward.

The spread is a joke... and so is the company these days! there should be rules around the spread for AIM companies.

Basically nothing positive has happened here in the last year and the cash burn rate is higher than you would want with no activity. With oil prices hitting an 11 year low today will a JV partner be found in time to drill in Irish waters... I can't see it. Dont get me wrong, I hold but I have no faith in the BOD at all despite the current cash position. Don't AEY lose 25% of the license also by a certain deadline - 6 months?? (from memory, with out reading the RNS)