Member Info for MikeGP

X :-)

Morning Joe!

I'm working on the theory that if I say it every week,..one week I will be right,... then I can proclaim myself an 'expert' investor!

It been such a dull year,.. we have to take what we can get!!

Hope your well,.. let's hope it's tears of joy that we will be crying in to our beer at the LE party!

My money would be on the GSA tomorrow? Fingers crossed.

.. and the time window for the preliminary results from TE-10 and the basin update is getting smaller, probably next end of next week latest,.. so it's not surprising to see a bit of momentum building.

Good luck all,...! We are due some after the past 12 months.

From RNS- "The Company is pleased to confirm that the equipment required for the stimulation of these two wells is expected to be available for the beginning of December and that a stimulation programme for each of the two wells will therefore commence within 3 to 4 weeks."
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Does that read as the stimulation test for ELM 1004, started at the same time as EMS,... or is the understanding that it followed on after completion of EMS,...?

If TE10 comes in it will give me great pleasure to post a simple BOOM!!!! comment
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andy,

if TE10 comes in I suspect that might be the start of the longest Mexican waves of 'BOOM" ever to hit the AIM market!!

best

Vander
"Would nt it have been better to spread the jam and then raise money- as per aim higher suggestion?"

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Absolutely,..it would make sense to say the contract is happening.... then wait for the sp to rise,..then do the placing... BUT,..in reality,..in order to set the 'enabling works' in motion,....whatever they may be,.. the funds would most probably have to been committed or on hand to commit from the outset? Another thought, regarding the raise,.... perhaps it is difficult raising the enabling works monies from the main stream banks/debt channels because of the issues surrounding Iran and getting monies in and out of iran..... hence, the recent placing? Not ideal for us in terms of the 3% dilution,.. but at least a very simple, quick way to raise the capitol,... with very little, if any, scrutiny from any third parties?

Just my ramblings,.. whilst we wait for the Rugby!!

..have the feeling that this time,.. the raise has a very specific purpose,.. and I don't mean just keeping the lights on?

The way that it was co-ordinated with the 3.5M finding a home so easily,... the appointment of a joint broker... and the extension to the warrants.

Just a gut feel,.(.. after holding this share for so long!) Could a dollop of jam be about to arrive?

https://www.ecfr.eu/article/commentary_trading_with_iran_special_purpose_vehicle_how_it_can_work

I don't really have my head around what a 'good' result here is in terms of flows etc., and even less idea what 'transformational' might mean in terms of SP movement?

The sp hit 19p ( momentarily!) in July,.... are we talking about getting back to those heady days?

... but not the one we wanted......although...

"....To further support the development of the Company, with a particular focus on preparation for the various projects outlined in the Business and Trading Update released on 29 January, ..."

That's the only crumb of comfort that I can find in that.

Is this the money required for the enabling works etc.,? Probably not,... as they would surely wait until they had initiated the 8 week lead-in period,.... and then carried out this excercise with the sp sitting at a higher level---,.. More likely that it is needed to put measures in place for the other contracts mentioned IMHO. Agree with reece,...next 8 weeks we see movement on one if not both the contracts.

Selling the Ferry would be great,.. or just raffle it. Else we should just put the Operations Director and set it adrift. At least it would then be fit for purpose.

.. from Malcy might give us some insight in the Energy Summit and whether there were any 'lobby' meetings with SOU and the other interested parties.

jaggers,... last RNS on 8th Jan said kit on site and stimulation had started. So has been on-going for 4 weeks.

... of the big spread... 11-12....8.3% as I type.

With a bit of luck we'll all be released this,... well,..possibly not all,.... just those that have shown good behaviour!!

gibbo...

..and interesting to read what they are going to use the levy monies for....
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"The new fee of TZS 5,000 (US$2) for those boarding domestic flights and US$5 for those on international flights will be used for enhancement of airport security through installation of high-tech equipment and safety services, including perimeter fences and state-of-the-art scanning machines to improve detection."

Gibbo,... you have certainly gone above and beyond with that help!!

Worth posting that headline"

"Iran to construct mega terminal at Imam Khomeini Airport"

4 February 2019 22:06 (UTC+04:00)

Exploration,

With drilling commitments met, even if a TE-11 location is confirmed, I expect it may be hard to convince Schlumberger to spend more on exploration drilling. Management Committee decisions on money must be unanimous.
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With each drill being a different strategic "type of play" that logic just doesn't stack up IMHO. Schlumberger have know all along the theory for this type of campaign and have been involved in making those decisions and the choice of well location, drilling techniques etc.,

I'm not sure why SOU haven't started preparing the base for T-11,... I had thought that the intention had always been to have a continuous programme.. such that the drill locations and bases were propped and ready to go as soon as the drilling rig was ready to be moved from one drill site to the next. This has clearly changed following the TE-10 drill,... which begs the question ..Why? There could be many reasons....

That's a very fair point fairview,.... but what we have been told to date is:

1 The client is very much engaged and wants this done as soon as possible
2 As of the last AGM,.. we were the only people that they were working with,..ie this was exclusive to WSG.
3 The timescale required in order to work up the contract and agree the details,.. could well make it it very difficult to 'jump' ship,.... as that learning, negotiating phase would have to start all over,.. and we know how long it has taken..
4 If they were to 'go' with someone else.... they would most likely face similar issues to us,... regarding supply chain, insurance etc.,

IMHO....having got so far,..it is not likely to fail for that reason ie the client re-negotiating with another party. Nevertheless,... longer things drag on,...then the more of a concern it will become.

https://www.morocco-summit.com/copy-of-agenda

To be honest,... there is plenty at the summit that would could be crucial to the value of our LE event,..including the analysis and discussion of recently acquired seismic on Day 1 etc.,