Member Info for Masterfly7

76 bopd…

How many shares does Ian James actually own? A cursory glance looks like his shareholding has gone down from C5m shares at IPO to less than 500k. Looks like he has extracted maximum value. Rinse repeat…

Not sure the mud issue was proved at all. MOU5 was in a different play/formation so you can’t directly read across.

Could chariot go for another bite of the apple? Not sure they have the £ without another equity raise. Umm, seems unlikely.

London, 3 June 2026 - Energean plc (LSE: ENOG, TASE: אנאג) provides an update on the proposed acquisition from Chevron of a 31% operated interest in Block 14 and a 15.5% non-operated interest in Block 14K, offshore Angola, announced on 12 March 2026 (the "Transaction"). The Company has been informed by the seller, Chevron, that it has received notice from one of the joint venture partners, Etu Energias, purporting to exercise its pre-emption rights in relation to the Transaction.

Target exit: 1,850–2,150 bopd May 2027. Where have you got this figure from? The company guidance is as follows:

The programme of infield development drilling, heavy workovers of old production wells and Cory Moruga appraisal/development drilling is targeting increasing current production to 1,000 bopd on exiting 2026.”

Stop ramping

Another 350k for administrative and legal. One would think with all the hype on Trinidad success this could easily be funded from current production… Year after year, raise after raise it’s exactly the same story ramped by the same characters. Interesting to see if the 6th well has anymore success than the last 5!

1) oil sales are down. Mature field continues to decline. Exactly the issues Challenger faced.

2). Best advice anyone could heed is not to trust the same old rampers. Pure trading around PIs

3). PR should not have forwarded that note….

4) PG… same old tricks

Madman,

I think you will find the 1,000 bopd target for exiting 2026 includes Snowcap3.

They were instrumental in the merger between Challenger and Sintana. Challenger had also gone through a strategic pivot. Robert Bose CEO of Sintana is also head of Charleston.

His interest here is Atlantic Margin - Namibia, Angola, Uruguay.

Very interesting development.

I think this is clear on the type of deal they are looking for!

Morocco offers a potentially faster route to commercialisation of shallow biogenic gas through a CNG or micro-LNG development. The structure penetrated by the MOU-1 and MOU-3 wells is currently defined as having the best potential for an application for an Exploitation Concession in 2026. The Company is committed to partnering with entities capable of supporting a future development decision and who have already identified the opportunity as one warranting the execution of a Collaboration Agreement and a Memorandum of Understanding. Moroccan gas prices are high, and the fiscal terms are some of the best in the world. The presence of gas export infrastructure adjacent to the MOU-1 and MOU-3 structure allows for a scalable gas development after initial CNG or micro-LNG gas production over time establishes the extent of connected gas volumes and the capability of reservoirs to deliver at plateau rates over time.

Madman Rob, your assumptions are wildly optimistic

1. mature onshore fields. Take a look at competitors to understand decline rates (Predator even state 35% per year)

2. Your model takes no account of SPT at >$75 oil or real Opex

3. Trinity was sold at the end of 2024 for roughly $12,000 per flowing barrel (the price of Brent when the deal was agreed was C $90). £26.4m sale price, C2,500 bopd. This should be your benchmark.

4. New wells in Trinidad carry significant risk, take a look at some of the most recent wells drilled by TXP (Cas 3,4,5 etc) didn’t produce anywhere near expected levels despite supposed known geology. Costs also came in higher than expected.

5. Scorpion geoscience give the following guidance for Snowcap 3 in their model:

-65,826 bbls produced in first year of production =180 barrels a day over the 1st year

-Decline rate 35% in first year; 20% in second year; thereafter 10% per annum reflecting the large

area of well drainage in the connected and mostly unfaulted Snowcap structure.

-Higher operating costs reflects initial trucking option

-Initial investment of US $4.5MM has a 2.9-year payback and yields

an NPV 10% of $2.738MM representing a highly attractive 44% IRR.

Clearly there could be some upside but also downside!

There seems to be a lot of faith by holders in Scorpion Geoscience. Genuinely interested to know of who else they might work with? A cursory search shows 17 LinkedIn followers and very little evidence of other reported clients.

CT, make that 5 wells in Morocco.

Isn’t the effective date 1st Jan 2025 not 26 for Chariot? Energean is 1st Jan 2026.

The last time Bango was trading at 62p was way back in 2016. Management execution has been really poor. Wholesale change needed here but I do think it’s looking cheap…

Isn’t it time PG realised value in Morocco or Trinidad before considering further ‘value add’ acquisitions. The share price is at 3p because he is yet to prove any of the previous ventures. Market certainly doesn’t believe in more PG stories

Pareto,

You continually ignore SPT (Supplemental Petroleum Tax). This is based on revenue and can’t be offset against tax losses.

You need to factor in SPT at elevated oil prices

Results tomorrow, can only think another large car finance allocation is coming in the results. What else could it be.