Member Info for LONGWAIT

Thanks, John and Sailplane for your question and answer about LC.

That is something I myself had been wondering about.

If Sailplane is right, then LC could still turn out well.

Interesting idea, GB1.

It would actually cost about 12 percent more than your estimate, because your exchange rate is wrong.
Normally, when a company buys back its shares, they are cancelled, but it seems it can keep them as 'treasury stock' and reissue them later.
I would suggest first asking whether such a scheme would be possible.
I think, though, that if it is possible, the company would have been more interested in the idea had the price of oil not collapsed.
HUR have already said they are having to review previous spending plans.

About a day after I bought at 359, the price was 259, and I didn't buy any more.
Someone here predicted 125.
They say it's darkest before dawn.
I did think of buying some more just before the holiday at about 300.
At least I didn't do what some people must have done and get out.
The price has now probably bottomed and I may buy more on the next pullback.

Thanks for reminding everyone, MRSI.
I had been trying to remember the identity of that unfortunate investor.
Now, I suppose my reputation is somewhere around the same level as RT's and HUR's.
Even moving discussion to the subject of dinosaurs seems not to have helped it.

It looks as though Dr Trice is meeting the same kind of resistance as Darwin met!
I imagine most cities of ancient civilizations haven't been excavated, but that doesn't somehow invalidate the ones that have.
The idea of evolution certainly makes a lot more sense than the one that we were around 65 million years ago, when the dinosaurs disappeared, and somehow managed to survive the meteorite-caused oblivion that wiped out the vast majority of species on earth.

You may be interested in this:

Prehistoric fossils suggest modern dogs evolved from a single population of wolves

https://www.theverge.com/2017/7/18/15992572/dog-genetics-archaeology-fossils-evolution-domestication-wolves

Well, Dr Qu, a day or two after my neighbour told me that he doesn't believe that dinosaurs existed, I saw a report about the excavation of a dinosaur thigh bone.
There was a photo of it, with a man standing at each end of it.
The bone was longer than each of the men.
I don't suppose that's the kind of evidence that would convince someone who argues that there aren't enough fossils to prove anything.
Our ancestors though that the world was spanking new and all the animals in it had been put there to provide us with food and clothing.
The Catholic Church took the argument further and insisted that everyone accept that the sun orbits the earth.
The truth is that the Earth is about 4.54 billion years old and has perhaps a billion years left.
The world was not spanking new, but well into middle age when we arrived on the scene, and most species of animal existed before we did.
Some people, whether religious or not, don't like the idea that it's not 'all about us.'
The sun is just a star and stars are dying every day, and when ours burns out, there won't even be a solar system left.
Obviously, I'm hoping finally to sell my HUR shares at a profit some time before that happens.

You did not say that, WWN.

You said, 'most objective observers'.

That means Double and I may be objective, but just don't agree with the majority.

Thanks, WWN.

I've read it and I still don't see how the fundamentals have changed.

You're proving my point, Aqua, with your last post.
You give the impression that HUR now has only one reliable well left and that if that goes the same way as the other, then it's all over.
As far as I can see, there isn't anything wrong with either well; it's just that they are no longer working well together.

''the fundamentals haven't changed'
It's interesting that you, as an oil man - or ex-oil man - should say that.
Many of the comments I read online seem to say or imply that the fundamentals keep deteriorating.
To give one example: Lincoln Crestal was reported as a failure, which is strange when you consider that it flowed at 9,800 bopd.
Consider this headline:
'Updated: Hurricane shares sink despite oil confirmation at Warwick'
Warwick West flowed at 1,300 bopd but has been almost invariably described as a duster or failure.
Every setback has been added to the list of 'failures' in order to construct an argument that RT has got it wrong, FB does not work, HUR is an unsuccessful company that goes from bad to worse, with water cuts, a 'failed' drilling programme, and now a 'non-producing' well.
It's curious that in addition to two wells flowing continuously for 50 weeks, two out of the three wells in the drilling programme did flow, yet the programme was described as a failure, and now we hear the old questions about whether FB works and whether the oil will ever be extracted.
I still can't see any evidence that the fundamentals have changed.

'... no-one can predict whether the 500 million barrels of oil which are likely to be present can be commercially extracted and until it is categorically proven, this remains a high risk investment does it not?'

I don't know at what point that could be categorically proven.
What if everything had gone smoothly for just two more weeks, marking 12 months of steady and increasing production, and six months of 'usable data' had been accumulated?..
... and then a few days later, the present problem had appeared?

I would say the main thing that makes this a high-risk investment is the market action and reaction to news.

'There are a lot of people who've signed papers and articles saying that Fractured Basement 'won't work'.'

There used to be a professor of physics who refused to accept Quantum Theory.
There are still people who claim fossils are not real.
My neighbour says he doesn't believe the dinosaurs existed.

Yes, indeed, Delboi.

https://www.cnbc.com/2020/05/14/goldman-believes-oil-has-bottomed-and-is-headed-back-to-65-next-year.html

I don't know whether there will be a farm-in, but I don't believe Alan Linn got involved with SpotOn and the latter invested in PVR just for a lark.

You think it's extremely undervalued at 0.70p?

It was 0.20p less than two months ago!

I suggest you re-read the exchange between Double and me, arthurchance.

It was he who, although seemingly unaware that SIPP had been banned, raised questions about his conduct, and it was I who then pointed out that all SIPP's posted comments have been removed.

I'm not sure what you're hiding behind your asterisks, but if you're insinuating that my assertion that ItsallRigged is the notorious poster TriggersaysDave - who was rightly banned by the administrators - somehow counts as a rant, then you really don't know what you're talking about.

'Now, in want to know more about SiPP, who hasn't posted here for ages, but wormed his way into 'inside knowledge', traded on it, and I was banned from 'his' site.'

Can you correct and repost that sentence, Double?

SIPP joined LSE on 6 October 2011 and his posts have all been deleted.

I think I heard something along those lines about Pijoe before.
I also recall an exchange we had about JOG and TSD's trying to scare investors into selling - the first time I got a post of his removed was when he urged everyone to sell immediately.
You said something about having heard of a lot of investors having been scared by online comments into selling their JOG shareholdings at about the same time as TSD was spreading panic.
Well, maybe there is something fishy going on - and if you uncover it, that doesn't make you a 'conspiracy theorist' any more than a detective on the track of a criminal gang.
To my mind, a 'conspiracy theorist' is someone who sees conspiracies where they don't exist.
ItsallRigged/TriggersaysDave is such person.

I'm intrigued by your reply, Double.
I'm surprised it took me so long to unmask ItsallRigged as TriggersaysDave, but if a convicted burglar leaves his fingerprints on a letter in which he taunts the police, he can expect to be identified.
TSD's fingerprints are all over ItsallRigged's posts.

The fact that he made no response tonight when I called him a liar is also a clue.
I'm sure neither you nor I, for example, would allow an accusation like that to go unanswered.

I was wondering how you figured out before I did that IAR = TSD.
I have a feeling it had something to do with Trigger and Rigged being remarkably similar.

Here are some of ItsallRigged's posts about JOG, written under his previous incarnation as TriggersaysDave, which I reported, and which were among the posts that led to his being banned:

10 Apr 2019 07:49
Don’t forget there are some paid tampers on the board who would rob their own granny given half a chance.
Simply don’t buy here, the company is knackered.
For those of you still in, save a few pennies and sell would be my suggestion.

Predictions
15 Apr 2019 17:40
Dilution in low 40's , high 30's in the coming weeks. Settle at low 30's for remainder of the year.
Brutal i know but your best getting out soon as the writing is on the wall.

RE: Hope everyone is ok15 Apr '19
Past 5 posts have seen the usual cheap as chips or big buy posts trying to sucker newbies in. This company is knackered and will die to the usual dilution, fall and rinse and repeat.
Your the real devils here trying to get others to join you in your misery.
TSD - the newbies friend

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You can check what happened to JOG.
The shares never fell to the 40s, let alone 30s, and are currently 83p.
There has been no dilution.

TSD/ ItsallRigged has posted only one comment on JOG since creating his new account and is concentrating on HUR because the price has slumped.

His speciality is trying to demoralise investors and defame long-term investor/posters, accusing them of trying to sucker in 'newbies' to get them to lose money.