Member Info for MikeGP

"Maybe at the LE we can have a pint."
_____

I understand that bit!

"...t looks like they have laid down the mousehole from the rig floor and then the V door ramp.
With the BOP's (red) on the left it may be they have to do this to swing a set of BOP's in. .."
------

Please somebody re-assure me that I am not the only one on here that doesn't have a F'ing clue what ddboy just said!
I am sure he is absolutely correct,... but I am clueless.

Best

We'll find out soon Ned!!!

14 weeks to next trading statement... I would imagine that there will be quite a few LTH's here who will seriously consider reviewing their investment here if we don't get positive news on either of the potential long term contracts in that period.

In the meantime,... we sit and wait,........

Not on MoneyAm,... although still shows 9 v 1 sells.

After months of waiting-- we are drilling on TE-9

First casing point,.. reached cemented done! No problems... Tick!

On we go,......

.. and base being prepped at TE-10..

and latest Q4 presentation says GSA early Dec... 5 or 6 weeks.

Tick Tock.

ozzie,

"Iran will come out of this much stronger and more respected in my view and will likely take great comfort if they have weakened the USD grip of world banking and trade."
----

Completely agree,... this Iran fiasco has almost been the EXCUSE that the EU and the rest of the world wanted in order to set up another finance system which is outside of the US reach,... it's absolutely played in to evreyone else' hands the EU, Russia, China etc.,---- and,.. they can all say,... we didn't want to do,... but you made it such that we had no alternative,... WIN WIN for us LOSE LOSE for Trump.----- I think that is finally sinking in with the yanks hence this bit of posturing.... they don't want anyone to have an alternative international bank clearing system.

Let's see how this unravels. Fascinating.

.. and in any case.... not affecting us as PF has confirmed we don't need the SPV etc.,

Slippz,..

I agree,... I am sure that the US would try to use it to monitor the SWIFT transactions with IRAN to see who they are doing business with.

However,...the relevant point for us,..is that a non SPV banking conduit with IRAN would still be in place, using SWIFT, if we wanted to use it?... either as an alternative to the system that PF is arranging or in addition too,.. or even just as a back up?

PF has already confirmed that our services and goods fall outside of the current sanctions therefore there should be little risk of the transactions being stopped by the US.

Either way,.. an interesting development in the US posturing. News of the SPV will be out over the next few days if it is to be in place by Nov 3.

Best

Interesting development:

https://www.msn.com/en-us/finance/markets/us-hesitates-over-scope-of-finance-sanctions-on-iran/ar-BBOT2Mj

The Trump administration, days before imposing sanctions aimed at the heart of Iran’s economy, is wrestling with a decision critical to its pressure campaign: How hard to push European allies to cut off the country from the global banking system.

'Treasury Secretary Steven Mnuchin signaled that the U.S. may not force Belgium-based financial-messaging service Swift to disconnect Iranian banks from the global banking network. The secretary has told foreign governments the U.S. could take a less-confrontational approach, according to people who have been briefed on the matter by government officials."

and

http://www.intellinews.com/trump-officials-signal-acceptance-of-iran-remaining-in-swift-150773/?source=bne-banker

Shares,...

Every TCF ... £1.50 with the figures as we know them now...

But remember that has be adjusted to include the recovery rate and the chance of success.--

Assume we drill, find and flow test, 1 TF

Then you would apply a recovery factor,..say 50%,.. = 0.5 tcf
If you then apply a high Chance of Success (CoS),.. say 90%

You can then get to the value-- 0.5tcf x £1.50/tcf x 90% =67.5p/share

Resources that may be inferred or implied form the seismic etc. will be given a much lower CoS,.. maybe only 5-10% of full value. Hence the need for all of the seismic,... and for the team picking three different types of play for these three exploration drills.

Hope that helps.

I think it is highly unlikely that trading will be suspended prior to an RNS say in that the addendum and letters are exchanged.

The main parts of the M/E contract are already known,.. we even know that the contract has been signed and the length of the enabling period, ie * weeks from exchange of letters.

Trading is usually suspended when there is risk of a 'leak,.. '... when the details of a deal aren't known etc.,

IMHO,.. one day we will awake to a red dot,.. and it will be the one that we have been waiting for! Fro the very 'short' response that I received,.. I think we are closer than ever... and with details of the SPV to be revealed within the next few days,... who knows?

Best

In relation to the point you raised a couple;e of days ago.

Confirmation from PF;

Dear Michael

We are not dependant or relying on the SPV although it will make life easier for us.

The addendum and letter exchange will be announced by RNS

Kind regards

GSA now shown as early December.

Guys,... Ned (!)

As a PI shareholder with a large holding I do occasionally contact PF and Tom,.. if I am concerned or would like clarification on stuff. Sometimes they respond,.. sometimes they don't. HE never reveals anything that is outside of the 'rules' and he is very careful to say that. However, now and again his responses, and in particular, the tone of his response can be helpful in getting the feel for a situation. Where and when appropriate I post anything that I think might be helpful or of interest.

We are all shareholders(?err well, maybe almost all??).. and I think we have every right to contact the company if you have a query,.. I know that I am not the only one to do so.

That is all there is to it from my side.

Best

PS... No response to my e-mail as of now.

Gibbo,... ref your question. E-mailed PF.

Best,

Whether that means WSG would be unwilling/unable to give the go-ahead even after the SPV is implemented is a little difficult to say from where I am sitting.

___

I don't think that is the case. PF said in that e-mail to me that if it wasn't for Trump the contract would have been implemented.

"...Dont forget we already have a signed contract and if it were not for Trump we would already have started - we have never said it is not going forward just on hold whilstbthings are sorted out."

Best

35-45 days guidance to the Paleo..... how long do we think until the shallower TAGI?

Nice one. Getting closer Gibbo.

"Don't forget we already have a signed contract and if it were not for Trump we would already have started - we have never said it is not going forward just on hold whilst things are sorted out."-- Peter Fowler 13th Oct.

gemelli,...

You are right,.... bit as I understand it,.... SDX are selling in to a more restricted market to specific customers where as we are effectively selling in to the "grid"... so the same cost/volumetrics won't necessarily apply.

$11-12 would 'blow the doors off"!

"But I think you will forgive us when you see the result. Let's see !"

Well we already have company guidance,.. of $7-9... and in their own valuation of £1.50 they have stated that they used $8.----- that figure was first muted many months ago... when I believe the oil price had started to recover,... but was less than it is now. I know are negotiation and price isn't tied to the oil price ( at least the Company have never said it is,..to date).... but an increase in oil price must be beneficial to our negotiations.

... my point being,.... the comment by James is very bullish,.... and that implies to me that any deal is being done at the top end of the guidance ... possibly in excess of?

ozzie,.. in the FSC,.. they said that it would take circa 3 weeks to get a test rig in to location and set up should it be required,.. and then I believe they have given guidance of circa 4 weeks actual testing.