Member Info for luckyman2

We will not have enough cash to drill TE-11 and test if successful and continue operating for the next 12 Months.
So if it longer than that for LQ then we will have to raise more cash. imo.
Either payment with shares or fund raise. imo
if 18 Months then the dream is finished. imo

No updates till May it seems. imo

So a gas discovery in the top zone could take the SP to 0.50 but if we find oil in the lower zone then we will be over 1p at least. imo
This could be the biggest onshore find ever.

I dont think the seismic proved up what they initially thought it would.

Yes and buying Sidi Mok cost us a fortune as well.
And over 1 Billion shares in issue.
Now whats not to like?

1 Mil a Month plus TE-10 well test equipment costs plus rig on stanby rates.
How long can we go until we need to raise more money?
This delay has to be sorted soon .

the longer we delay drilling the more money we get through every month delayed.
If we are spending 1 mil a Month on wages and admin plus the cost of testing TE-10 we mighf have to do a fund raise before we drill TE-11.
We only had 18 mil in the bank in December if i remember right.
If we drill TE-11 we will also need funds to pay for testing if successful plus funds to take us through to any possible LQ event as costs are still required to run the company.

In my opinion no news is not usually good on AIM.
People cant wait to announce good news but bad news is always delayed as long as possible.
So is no news good or bad for us?

mentions Reabold half way through

https://total-market-solutions.com/2019/04/23/malcy-talks-oil-gas-ix/

https://total-market-solutions.com/2019/04/23/malcy-talks-oil-gas-ix/

JP and his teams performance over the years is measured by todays SP. imo

https://youtu.be/2C26j1rHBwg

Now you can see that it was worth putting into production even at reduced rate of 150 - 250 bbls/pd and oil at $74bbl

I think we will have no choice but to sell this year regardless of results as will are running very low on funds.
If TE-10 is non commercial and the SP drops substantially then we certainly do not want to try and raise funds at that low level as we would be diluted into oblivion. imo
Also if we dilute our TE-5 horst will not be worth 27p to us either as that is based on current shares in circulation . imo

https://youtu.be/-mkgkwLRiQw

https://youtu.be/-mkgkwLRiQw

No its not
We still have TE-5 horst valued around 27p plus Sidi Mok.

Missed timelines by the sound of it.
Sometimes you wonder how their timelines are so far out.
Will be get results in May or will that be another missed timeline?
I will expect news in June but if they miss that one then i will be seriously worried.

Yes it is classed as a Discovery as we produced a gas sample to surface.

If JP had told us that his trading plan has finished then i would have felt a bit better.
Not knowing just leaves me to speculate when i see constant. 100000 sells.
Ah well you know better i suppose.