Member Info for Mamms

Yes Manyana but it keeps slipping. It will be at best the last days of Q3 or the start of Q4. The point I made is that we are now looking at starting a 200day drill at exactly the wrong time (Oct '19 to Apr '20) where weather and everything else will be against them.....

Don't know why that posted twice, apologies.Anyway, where did that rabid newbie go that claimed he knew for a fact that the permit application would be submitted last week? If even 1 in twenty bull**** predictions happened we'd be in clover by now (and PVR would be refining oil at Whitegate/Whiddy)......

I don't care if they want to waste time and effort on BS so long as it does not impact the delivery of the orthodox programme. I expected to see the new application to prep for drilling at BROE weeks ago. Why is there such a delay?NEXEN resubmitted within 4 weeks. At this rate we'll end up drilling from October to April, through the worst weather available. Did the last BROE drill not teach is that this is not a good idea?

I don't care if they want to waste time and effort on BS so long as it does not impact the delivery of the orthodox programme. I expected to see the new application to prep for drilling at BROE weeks ago. Why is there such a delay?NEXEN resubmitted within 4 weeks. At this rate we'll end up drilling from October to April, through the worst weather available. Did the last BROE drill not teach is that this is not a good idea?

FFS. Everyone, start running now!!! Seriously, they have been learning on the job about Oil and Gas Exploration. I'd rather they don't do the same with renewables. FFS.

Spoke too soon, 1m, .750m and .250m all just cleared...

No, just a portion. the rest are sitting there. i'm still too exposed to BROE - if there are big gyrations ahead (which is possible before summer), an entity with no cash and a receding horizon for delivery of something that they have no control over, is probably not a great place to be. Oddly, LOGP has been good to me, PVR has really been a disaster for me. Oh well. Good luck with yours, i really wish you the best.

I sold a large portion alright, about 6m - the problem is that it is so illiquid that drove the price down - I was quids in but as often happens my timing was poor and should have held on. Anyway, I am selling more right now so it could be a signal to buy!. I just put up 2m so fill your boots...

fundraise or borrowing with further dilution? they always seem to truck along with minimal cash so it arises periodically.

It seems to me that it's a long way from getting a call. PVR withdrew its application to prepare for drilling so it has to restart the process (which takes a few months from the date of application). THere is no sign of that application process even starting so I'd day the lads on COSL INNOVATOR should head to town and horse into a few beers 'cos if BROE is their next gig, then end May is theoretically possible but not before. Nexen made their application first on 14 November, then they redid it on 21 December (having seen the An Taisce feckup) and as of 12 February the department went back looking for further information. I'd say expect ongoing and continuing delays..... https://www.dccae.gov.ie/en-ie/natural-resources/topics/Oil-Gas-Exploration-Production/environment/statutory-consents/Pages/Current-Applications-for-Statutory-Consents.aspx

I wasn't really sure if I believed Manyana was really Sobeit but then he goes and says the options expire 9th January and that the strike price of 45c equates to 35p, so now I know it is him. The options must be exercised on or before 8 August and 45c is almost 40p (39.35p at the time of writing). Welcome back Sobeit, I'm glad to hear you haven't shuffled on....

Thanks Wraith, a few changes since then I think. I guess the thing is that Iolar benefited from the BROE challenge in that they were able to adjust their submission early so their timeline ought to be less affected. My thinking is that ToR and JoS must be trying to pull out all the stops ahead of 8 August when their options (struck at 45 cents) expire - deals on Newgrange and a spud date for Dunquin would help. I don't think there will be enough of a result back from BROE by that stage to move the sp past their breakeven price. The question then is whether a result at Iolar would do the trick? By which I mean push the sp past 45 cents in a meaningful way? A quick result or movement on BROE gas maybe? Sale of the company? I'd be shocked and amazed if we don't see a genuine push in the coming months. I'm very nervous of Brexit and see it has the potential to balls up everything - I've taken some off the table just in case BREXIT really is a mess but I'll maintain the balance to either Iolar results/8 August expiry... I dream of a £1 exit......

I should have said, it was originally planned for this summer and 90-120 days - I'm wondering if this has changed with the Taisce stuff (they redid their submission apparently). Anyone following this?

Anyone know the details of this drill? When does it start, how long is it expected to run etc?

I agree, this is all nothing but a pain and the loss of time. This was a judicial review - that means the only issue was procedural - did the the department go through the correct procedure or not? The answer appears to be 'no', now the Department know what the procedure is and they will follow it - they already got the Iolar one right and the BROE one will simply follow after an appropriate period has passed. Anyway, I sold 250k over the last few days, simply because I want to hedge against BREXIT. What a pain in the as s. If there is no deal we'll be able to buy these for a big discount between market wobble and currency, probably the reverse if there is a deal - they should really delist in London and move the primary listing to the continent. Even if there is a deal before the 29 March, then the UK have to negotiate a trade deal (where the terms will inevitably be poor since the UK are small in terms of the transaction) so the gyrations, particularly on currency will go one for years (literally). Does anyone know if there is any BREXIT planning?

I guess it's just nonsense but I always think something is up when one of these goes up significantly while the other one drops. when is our next data point? Iolar or something before?

My feeling now is that since the Chinese state have signed off on the deal, it's legit. The use of APEC is concerning (anyone not concerned by Mustafa & co. isn't paying attention) and I believe the use of APEC reflects a kind of 'out-clause' in case it all goes tits-up - they would not want CNOCC or JIC in the headlines and so APEC is a kind of buffer. For those who will come back to say what a titan APEC is, prove it, in any way - even a press article referring to a turnover - anything? No. Also note that at the time I wrote of my concerns PVR was trading at 12.5p, higher than today. It's some dog of a share in fairness. Anyway, the latest fuckup is pushing out the timelines for PVR, I'm not sure if I will be able to hold on that long. I'll try and wait to see what happens at Iolar (note that An Taisce didn't try to stop them....). Do we have an Iolar spud date??

Regarding the hot water, I pretty sure they are just taking the proverbial - if i thought for a second they were serious I'd run for the hills. Meanwhile, back here in reality, I expect there must be an end of year statement cooking somewhere in D4.... The problem now is that no one trusts them not to feck it all up again and even if they don't, that the world may move against them with perennially low oil prices and a crashing stock market - and I mean crashing, all this talk of reaching a bottom makes me laugh. I expect the bottom is like 50% of where we are now...

I wonder if there is something in the pipeline that can staunch the rot? The general environment is becoming more difficult and yet, there will be a need for this and other resources to be developed. It is really very disappointing, I was holding on for next Summer/Autumn and hoping for a fillip but now it will be at least summer 2020 and I don't know if I can hold on that long. My finances have already been ruined by this and the nagging feeling is that there is a better chance of more bad news before a conclusion to this debacle. In fairness to ToR and Co. they have consistently understood what is happening and never believed their own BS - hence the reason they have never made any real investments in the firm.... you'd hope it will catch up with them but apparently not. I always thought they'd go for bust by next summer with their options but that appears to have been a ruse to keep punters in.... it's clear those share-options will go the same way as every other option they have been awarded which really demonstrates that they simply cannot deliver.... time for a change?

I think you underestimate what just happened Sebster. LoGP will run out of cash well before this new drill horizon and will have to dilute to oblivion with penny shares (provided of course that there isn't a break clause for the Chinese to walk). The more I think on it, it must mean that there is a real and substantive issue will the permit. I had expected the thing from An Taisce to be thrown out a week from next Tuesday - I fail to understand why they did not wait for that hearing - seems very strange to me. So possible drill starting October rather than April (or December 31st rather than June 30th in PVR terms). Not great scheduling and you presume no further delays - when you look as what a clusterfock this and every other focking thing they've touched has turned out to be, you have more faith than me.....