Member Info for Lupidog

The amount of sells over the past few weeks and today do not justify why this is remaining around 2p. I can see nothing to justify why this is the same price as it was 9 months ago. If only this were a regulated Marketplace and not "self" regulated.

No high volume today. 0.5% of shares traded so far.

out of the way. We can now drift happily back to just below sub 2p to complete the VWAP.

an asset that brings value which is shown in a pre-market opening RNS, it is normal for the MM's to correct some of the value into the SP prior to opening. It is not the case here. Why are the MM's so determined to suppress SML?

at those little tinkers on L2. They certainly do not want this going anywhere just yet. I thought market manipulation was ok to create a market and that market co-operation to set a price was a no-no.

Charts can show exactly what you want them to show.

1 purchase is hardly likely to help with the code conspiracy theorists, seeing as we are expecting the LC deal to be done withing 5 working days of the 27th Feb (close of play tomorrow).

Yes, prop it up. Is it about to break out? I hope you are right because the last brokers note gave us an average for FTSE p/e. Which means we are priced exactly where we should be, possibly slightly over. Once the purcahse of LC is out of the way and we have the new shares issued, a new brokers valuation may well suggest we have a financial asset in LC which will be somewhat offset by the dilution and cash outlay until such time as it becomes revenue producing. But no extra revenue to shift the p/e until that time. This is AIM it will do what it does, to the surprise of some and the disappointment of others.

Nice buy barahi, but what we really need is some fresh blood. The LTH cant prop this up forever.

So May will be a trigger. Not HC results last year, not COBRE renewal, not LC purchase, but the all new improved HC results in May. Maybe in May we can set our sights on 2.1p by Xmas, or is that to soon?

there's a thing. Merry xmas and thank you for the present.

As over 95% of all wells ever drilled (the figure is imprecise as early records were not kept diligently) were hydraulically fractured, it would not surprise me in the least that most of any gas stored came from such wells. The issue of "fraccing" and its impact on the environment is a modern invention of the willfully ignorant. If you drive a car you use "fracced" products, if you use heating oil or lpg you use a"fracced" product, if you use electricity yo use a "fracced" product, the "frac" footprint to build an hybrid or electric vehicle is greater than a normal modern diesel car would use in its lifetime, if you type and post angrily about being offended by "fraccing" you type on components made from "fracced" products and post on an internet infrastructure manufactured out of and with "fracced" products. So rather than use social media for all of the "fake news" on hydraulic fracturing, do some proper research and gets the facts and not the fiction. Typed and posted courtesy of Hydraulic Fracturing.

for your well researched comment Ajok. Nothing beats months of good hard research.

I don't think any producer based their planning on today's prices, unfortunately this is where we are. Models can be based on price prediction and the industry has always done that. I am saying nothing new. World drilling costs and production costs are well documented for each region, down to country level in certain areas and much of this data is available online with a simple google search. What can/should be done is a full financial assessment to say that at $Xbbl this is economically viable and below $xbbl this is not.

Over $50bbl then maybe economically viable, but at today's oil price I see no profit for either party.

It is all part and parcel of the risk/reward. If you can find the one producer you can fund the rest. If you can't raise the initial funds then a JV is usually essential. The current Oil price is pretty much neutralising profits as deepwater work comes at a premium. Oil prices may recover and it is essential to have an economic assessment carried out long before any work is undertaken so that the financials are very well understood. As it could be down to $1 on the barrel which would make or break a company.

Deep water gulf of guinea $30bbl - $40bbl. So a rough starting point for guesstimates would be $35bbl. That is the production cost. Add to that the "taxes" required by the EG ministries on you profit. Say 25% for arguments sake until more details are available. Now you have to include funding for the venture. Deepwater drillships are currently starting at $175k per day at 8 to 16 weeks per well, with a 45% regional success rate on drilling a producer. So your going to need quite a few million or funding for such to get started plus the above. Then you have the added bonus of working in EG. Unless the customs and imports have had a radical makeover in the past couple of years, everything moves in EG time and not the real world.

Please stop calling it New Guinea. I agree with your sentiment, but having worked and live in EG for many years in this very industry (the licence win is what highlighted this as a possible investment). I worked for and with those Majors. I understand the local politics and I understand that nothing ever goes smoothly in EG. I understand why the Majors may not have won their contracts and how they like to keep themselves "squeaky clean" in these days of ever deeper and visible scrutiny. If you have ever worked in a Dictatorship you would understand the whys and wherefores. There is a reason they "lost out". The government relies on the Oil money. Why would it kick out those that feed them? Back to the possible investment. Yes the potential is there. Around a 45% success rate with drilled wells to the North of Bioko. Good production rates and easy access to shipping. Health risks abound with most of the water table showing positive for Cholera and the plague like incidence of P. falciparum, the worst type of Malaria. Costs are not just about drilling. As to what you can or cant do with your licence. The Hyrdocarbons Law of the Republic of Equatorial Guinea are published online. I will watch from the sidelines and wish you all well. This may prove a good investment opportunity and If so I will be taking the risk along with some of you.

Because Licences actually have to work their Licences or they are removed. How else will you proceed to explore your license? Deepwater drillships/rigs start at around $175,000/day. If you don't use it you lose it.

If your going to be a Wisecrow, you may want to start in the right continent. :)