Member Info for LockerRoom

Also got to remember, typos can get into any presentation or something that can be misinterpreted from its intent. It did lead me to think late march but when i talked to some people they were of the impression April was more realistic which seems to fit.

It appears the 29th round applications closed a month earlier, so i would think anytime in April to be realistic.

IMO they have the funders and their terms on the table, now it comes down to if they get the award or not and what funding package and from whom it is received, so yes whenever the OGA release the results. I did think the 31st was mentioned somewhere but couldnt find it, but it appears it was from that presentation. Anytime early to mid Q2 i think generally is the flow of results going on passed years. With project economics so robust and no fundamentals changing, but the patience of PI's im happy to take more if this goes to a suitable level.

I expect they are waiting for 30th round results before giving the final funding statement. LP1&2 are the cash cows and make a low risk fundamentally great investment (IRR>100%) however will wait to package the whole deal to the market. Just my thoughts.

I doubt that. Any drop will be eaten into IMO, and I will use the opportunity.

Looks like they are just keeping lines of comms open with share holders as it�s now coming to the end of the timeline. Multiple industrial parties though makes it seem like there are options.

Forward selling been taking place most likely as you say Brooko.

I agree with the �2 - �2.50 valuation on funding, that has been my first target, for Liberator alone, not including the 30th award...

Well said General.

I'd expect they will, they are professional and know how the AIM game works (I heard the Ithaca offices used to have communal TV screens with live tickers haha) when there is a slip and lack of communication. Oil industry negotiations are always extremely lengthy and prone to delays by nature but if they were advanced 2 months ago I'd expect they will be close to close now, however partner sign offs etc can drag.

admittedly none of us know, so just got to sit tight and wait. However from my experience I would be reluctant to think that it all hinges on the 30th round, which requires further appraisal, then development, even in a commercial success case, while Liberator is as close to a sure thing cash cow for a lender that your gona get, with full FDP and pre-development engineering and plans already underway or completed. It would also appear there are multiple lenders out there, as i remember there was someone wanting to front an initial 25m and now somone or maybe same person with up to 200m. Fingers crossed.

haha "no 30th round win then no funding and vica versa" makes absolutely no sense from a funders perspective. Why would someone hinge their decision on a much higher risk appraisal discovery well and choose to ignore a sure thing money maker. It's not how it works in the oil industry mate I'm sorry. It was a good attempt at a deramp but need to try harder. Also if you look through the RNS I'm pretty sure it eludes to the lender offering to fund whatever is required, including a sum <$200m in the event the 30th round is unsuccessful.

It's all noise inbetween now and funding in reality.

Yeah, seems to be a lot of 5k batch ordering going on. 5k batch buyer still around but not as active as previously.

GOR = 341 scf/ stb = 3.41 mm scf/day

Not sure if I've seen a GOR in any of their presentations but its been a while since i reviewed them.

Considering this will multi-bag on funding you'd have to be mad to jump ship just now :P

as far as patience goes this share requires next to none IMO considering the actual progress and real value creation that the BoD are achieving compared to a lot of the P&D cr*p out there on the AIM.

This morning, all boding well for �1 pre funding as you say Brooko. Expecting new highs shortly.

Great news for us, current operators looking for ways to maximise their existing portfolio and seek growth opportunities. Really would not surprise me if it�s RR putting up the $200m. Makes more sense than Repsol knowing their North Sea budgets are quite slim these days. Everything playing into I3s hands perfectly. RR want to grow, Repsol want additional cash flow with minimal or no capital outlay, as there will be a tariff for allowing I3 to flow through their infrastructure.