Member Info for LONGWAIT

Thanks Crude, but I'm waiting for the results of the study about a possible link between spam consumption and bi-polar disorder before deciding whether to take up your offer.

Which Way Now seems to think / was citing a learned opinion that year 3 is critical.

Actually, I meant 2 3/4 years.

I think anyone who recognises that it's likely to take years to monetise HUR's assets and would prefer not to have to wade through all the bad news, or fears of bad news, in posts here could benefit from an investment in a luxury freezer.

Unfortunately, my freezer comes with an internet connection and I'm cheating.

When I think of all the disgruntled posters who are just dying to commit mayhem on TOR, we must surely have a totality of satisfied posters by the end of this month: either the money arrives and we start to develop Barryroe or they get to tear TOR limb from limb.

You can't ask for more than that.

Well, IANAN, we only have about another 2 1/2 years to wait until WWN's deadline is reached.

Then we can tie the knot (pun intended) with BP.

That's not the only proxy war Iran is fighting: she's fighting Israel by proxy in Lebanon and Syria (Hezbollah) and Gaza (Hamas and Palestinian Islamic Jihad).

Iran also has proxies in Iraq, thanks to Tony Blair.

' I suspect this is the reason why the shares are heavily discounted.'

You mean the MMs have your technical understanding and have accordingly kept the price low?

You mean that this risk of water breakthrough in year three of the EPS is known to the MMs, but somehow has eluded the analysts' attention when they estimated HUR's NAV at several multiples of its market capitalisation?

And what about all those people, including majors, who have said that the EPS needs to be successful for up a year before it can be deemed to have proven the model?
Why didn't they say 'three years'?

Because the Government don't what?

'Addressing shareholders at Providence's agm in Dublin, Mr O'Reilly also indicated that the company will not be extending any further the deadline for payment of a $9m (€8m) initial development loan for Barryroe from APEC Energy, the Chinese consortium partnering Providence on the project.

He also indicated that Providence has attracted interest from several North Sea players in coming on board at Barryroe should the APEC partnership fall through.
Mr O'Reilly said he expects payment to land prior to that date, with APEC remaining as partner.

Bank processing issues and changes to the Chinese consortium have been given as the reason for the delay.'

He said APEC was "ashamed" when told of Providence's share placing plan, last week, and had reassured the Irish company overpayment and its commitment to the Barryroe partnership.'

For 'overpayment ,' read 'over the payment.'

Thanks for your reply, SG2.
I'm not an oilie, and defer to your superior understanding of the technical issues.
I can only say that so far things have gone right with Lancaster and Lincoln.
To my (non-ollie) mind that suggests that WD was some kind of glitch and the model is intact.
I would also point out that although an analyst's conservative valuation of HUR attributed a mere 10p per share to WD out of a total of 347p, the SP correction, from peak - in the run-up to the drill result - to bottom - in the aftermath of the RNS - was about 33 percent.

For all these reasons, I believe the market is wrong.

I don't get your comment, ' WD massive model validation negative,' SG2.
The most recent drill result surely suggests that WD was an aberration.

I suppose if we do go it alone and have to raise money, the price will collapse again and we'll have endless posts about dilution.

At the risk of repeating myself: most posters are more interested in share prices than in companies' prospects.
At JOG, when there was good news and the price climbed, there were literally hundreds of posts per day.
Today, there are three posts, of which two are about BREXIT (and one of those is mine).
Nothing has changed at JOG, but the fickle posters who dominate LSE are doubtless going elsewhere for their excitement.
Where were they when I and another poster were saying how ridiculously cheap the shares were at 57 and 68p?
They appeared after the price breached 100p and after it rapidly breached 200p, they were excitedly predicting 300p the next day.
It didn't happen and they've disappeared.
Value investors take the view that the cheaper a share in a good company becomes, the stronger the case for buying, but the typical excitement-seeking AIM/LSE poster takes the view that the cheaper a share in a good company becomes, the weaker the case for buying.
Eventually, they declare that there is something wrong with 'the share,' and walk away, even though there is nothing wrong with the company.

Where is the proof that the Chinese have been holding back the money?

As SIPP indicated, the last time the SP hit 60p was AFTER the latest dilution.
I am amused by the reference to dilution as an explanationforshare price weakness.
It is normal for growing companies to issue shares instead of actually borrowing money.
According to the dilution theory, as companies grow, their share prices should actually fall, so that when the company reaches the peak of its achievements, the share price should be at a record low!

'makes me lol when people say this is worth more than 50p-60p bla bla bla without any thought to the MCap implication'

We are well aware of the number of shares issued and market capitalisation.

When an analyst known for being conservative estimates that HUR shares are worth more than 100p - and that was before the latest drill success - that should make you think.

And I haven't heard of anyone claiming that Edison doesn't take market capitalisation into account.

I think the Europeans and Irish have been counting on BREXIT being prevented by parliamentary antics or another referendum.
The only sure way that Parliament can prevent a no-deal Brexit is by doing what it had a chance to do three times previously and approving the agreed deal.
If it doesn't, how many times does it expect the French to agree to an extension?
Eventually, the Opposition may have to agree to an election.
If the Conservatives won an overall majority, the EU might then see things differently.

I'm accused of employing a 'deflection' strategy and of claiming to have privileged information.
I suppose next I will be accused of being an agent of JP.
I've never met JP; never had any contact with him; never attended the Gherkin or any other SOU event; wish I had never heard of SOU; wish I had never invested in it.
I have never actually predicted that an offer for the company would be made and recommended to shareholders.
I don't know whether one will be made and, unlike some other posters, I don't know that one will not be made.
The doomsters may yet be proven right, but not until doom has struck.
In spite of the collapsed share price and assurances from the doomster posters, we are not yet in extremis.

EGM elevates facts above speculation.
Oil exploration is about speculation.
Why did Schlumberger speculate in Tendrara if it was obvious that there was no gas there?
Why do explorers have to drill if the facts are already established?

To EGM:

If it's true that more than ten companies have shown interest in buying Tendrara, then how do you explain that?

I'm amazed this remains in the 40's.
The market must be very suspicious of FB or just irrational.

(IJWT)

The AIM market IS irrational.

I made the same point two weeks ago!

I've been looking for a post declaring 'all the good news was already priced in,' but so far haven't been able to find it.

I'm just relieved that the price didn't fall on concerns that the flow rate was too good , HUR won't be able to handle so much oil, and young Dr Trice won't be able to handle all the fame.