Member Info for MikeGP

MTP,

Very good news for WSG,... just need the government to announce a major extension etc., to get the ball rolling.

.. a very focussed, precise set of questions for the FSC tomorrow,... rather than too much back slapping etc.,

I'm preparing some questions,... anybody else doing the same?

test pack,..

there may have been 10 interested parties,.... but we may have not been interested in all of them.

Hence they have been short-listed.

..will be worth waiting for... and should show something like this, WITHOUT the M/E Contract.

FY 16-FY 17-FY 18
£4.4M- £5.4M- £7.6M

Will show a nice increase in sales revenue... and a return to EBITDA positive which will be very welcome! The full £7.6M may not realised depending on whether they again decide to show some income as Work in Progress as they did in the recent interims. ( £0.7M of the Tech Sales). But if we book £4M for the whole of the Tech division,.. we know of one other £300k contract,. (and in 2017 they booked £1.7M FY for Tech division)....then,... that will give us a circa 40% increase in turnover year on year.

This assumes that the Managed Services will generate sales of £3.6M, the same as 2017,.. ie no growth, given the slower H1 18 compared to H17 as per last Trading statement.

Best

Could be partridge,.. a shallow drill,... apparently looking for salt,... hard winter coming.

Ned,

Looks like we will know where we are with respect to the SPV before phase 2 sanctions kick in,.. so about 5 weeks.

I suspect that we will get the addendum to the contract before that.... and then...in theory it should be game on?

Best
M

..to feel like the most common feature of the 'Trilogy' of companies, SOU, ECHO and CORO,...

..is that they all miss deadlines!

http://www.atimes.com/article/eu-finally-stands-up-to-us-bullying-over-iran-sanctions/

Morning Joe,.

Yes the TAGI v Paleo.... Repsol/shell comment was interesting.

BUT if we have use the 4x gas in the Paleo ( aka the Alegeia Basin)... then it would make sense for them to be concentrating their efforts at that level? In some ways,,... you wonder why we didn't do the same? Seems like a basic question with hindsight. I know the geology isn't actually the same as Algeria,... but it's interesting nevertheless. It is only the last drill TE-8, as I understand it,.. that has explored that deep?
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As to the porosity discussions,... I am sure that Brian said, in one of the presentations, that TE9 has been selected as the seismic suggests that they expect to find porosity as good as, if not better than anything we have drilled to date.

Not so long to go now. I'm surprised by the sp movement. I am sure that JP had thought that the GSA would have been completed by now. Could be many reasons for that not happening,... in and out of our control. Continuing strengthening of oil price will help our cause as will re-imposition of US/Iran oil sanctions which surely undermines the importance of sovereign state safeguarding their own energy supplies.

Best

wpa5,.... are you close to the threshold?

Max... from the article...-- I think you'll find that Israel has an agenda, even the US isn't buying it.

"A U.S. official, speaking on condition of anonymity, said the United States is aware of the facility Netanyahu announced and described it as a “warehouse” used to store “records and archives” from Iran’s nuclear program.

A second U.S. intelligence official called Netanyahu’s comments “somewhat misleading. First, we have known about this facility for some time, and it’s full of file cabinets and paper, not aluminum tubes for centrifuges, and second, so far as anyone knows, there is nothing in it that would allow Iran to break out of the JCPOA any faster than it otherwise could.”

Not sure that Malcy should eat any more pies.

Even as she said she continues to consider the United States the EU’s strongest ally, Mogherini said “no sovereign country or organization can accept that somebody else decides with whom you are allowed to do trade with.”
____

This is the nub of it.--- wait to November and oil hits $90/barrel.... then this will all hit the fan big time. US interest rise yesterday,... more planned before year end... oil rising,.... and trade war hotting up... Thanks Trump!

Very true Joe.

I was hoping CPR 2 would have been out by now,... it's way overdue? Really can't understand the delay on that. I know it is being verified by a third party, and that precise timing is therefore out of SOU's control,.. but it must be a couple of months late now,..... would the additional seismic have had a knock on effect on that piece of work? hmmmm...

... or thumbs down from the deep dive?!!!

Put us out of our misery please?!!!!!

Best

... from the rhetoric,... IMHO.... they are all talking of putting the SPV in place before the next round of sanctions kick in on Nov 4th? The reference to the technical meetings taking place in a few days etc., suggests that it is a matter of weeks now.

Given what we have heard from WSG,... ie the supply chain amended,... the insurance almost sorted,.. and now the banking provisions addressed,..... I can't see why they wouldn't proceed with the exchange of letters as soon as these measures are put in place. The will and intent to proceed with the contract doesn't appear to have wavered on either side.

Feeling reasonably confident now that they should be in a position to exchange letters before the year end at the very latest. Fingers crossed.

It's about time that at least some of suffering is addressed!!

The recent £300K tech win was also a nice little bonus. I think the new Director for the Tech division was only put in place in Feb,. he seems to be bringing home the bacon. The next trading statement in Jan'19 will look stellar compared with the previous period.

Best

Phil....

Is James there .... or just the geo team?

..sorry .. should be 'you'... not 'ewe'..!

Although in the context of your 'sheep'...like followers sentiment,.. !!!!

Fell,... I don't usually vote your posts up,.. because generally I don't see things the way you do.

However,.. on this matter,..it's hard to argue with the dates and timelines that ewe were told and the progress on site. If it has been deliberate,.'go-slow'... dictated by other contractual, licensing or negotiating matters,.. than i trust it will be come clear in time,..... else I wish the company would not put out timeline guidance which bears no resemblance to reality. To say 23-25 days,... and it end up as being 50-60days(???)... isn't just a little slippage.

I presume you can put this to them at the deep dive.

"We have been working closely with our Iranian client on addressing all these issues and are currently preparing an addendum to the contract covering proposed changes in equipment, order of the rollout programme and the financial and payment structures."