Member Info for mikemike

Pat you still do not get it WE KNOW the risk is is stated at 50%COS, no one has an issue with your view of risk being contrarian, you are welcome to it. Just suggesting that DW is a Conman was and is unacceptable should ice2 not flow commercially. Please feel free to make as many contrarian investment comments that you as an investor wish t make. You may be able to bring something to our attention that the fundamentals have thus far missed.

why?

''Will stringing share holders along sit better with you'' Only if you can prove that is his intent. If not you should just stop digging

Bromb, they could be or they are just plain ignorant Two have clearly identified themselves as clueless. one thinks he has a form of moral compass but does not know which way the needle points

Pat i never daid anything about if this will work or not, that is speculation that you will accuse a person of being a conman because nature gets in the way of a result suggest you know nought about this investment. I wonder if in the event this does not produce a commercial flow rate first time if you will call DW a Conman to his face.

Pat I was referring to that part where you say 'con' This is the first production well on icewine for shale. Do you know how many they drilled on Eagleford to get that proved? I think 'con' is plain wrong. The COS 50% has been spelled out. Y TO be a con you have to be deliberately, knowingly and willfully dishonest. Making a mistake is not a con

Pat how do you make that out?

Yet when he was first in power up to 15 years ago he did not allow this. Political horsetrading will take place, as always. the ''concenus' part will involve the whole of the Malay federation, as O & G is seen as a federal resource. Oddly enough the Najib guy may have been better for us, he knew how to take a bung out of the national corporations, so making it worth his while. the re-elected DR M will be too honest for that

Be interesting to see if Najib bribe of Sarawak politicians to get what they want from oil resources will still hold sway. The new old guy is very much a country first person and I suspect he will be reviewing any arrangements made. what impact that has remains to be seen. I hold here and remain optimistic just a bit more cautiously so.

With the 3D pinpointing optimal drilling location. I would expect to see a Farm in partner as already advised. Even if the shale drill does not work I would expect an announcement of a farm in to counter most of a retrace. In addition the SOA looks like funding full rebates this year so no debt and another 4m$ in the bank. Plus Q4 sees another circa 1$m options that may wish to be taken up on conventional prospects alone. this gives us over $17m addition to the small budget surplus announced in the last Q1 report. Question then is how much cash in the bank will a farm in give us for two wells? Or is this not going to be about a farm in for two wells and more of a farm in for acres. ? Exciting times . For some of us who bought in under .05p, this price underwrites any potential failure of the ice 2. We still have a huge conventional prospect to look forward to. Nothing is nailed on for conventional and it is still 50% COS for Ice 2, yet still feeling confident.

Back on ignore you go until you stop dribbling that horrible mess over this Bb, get that nappy sorted out now

Worst case scenario is NO flow on the shale that leaves leads indicating over 1billion barrels of high grade API conventional oil. Plus Yukon 2p a share to buy into the conventional prospects that will probably get a NAV of $5PB still takes this to over 1$ per share with the recent placing and no shale oil from ice 2. Add in the high probability that the western conventional drill into the deepest part of the HRZ with the highest volumetrics gives shale a second almost free carry drill. Probably why i am still in and may beg the wife to let me add a little more to the little that she left me with

WA I think second half of this year is going to be stonkingly good. 1. ice 2 let it flow let it flow 2 SOA rebates in full credit to the account and no debt. 3. Icewine 3 d done an dusted, just a farm in or two to be sorted 4. Yukon gold to evidence its potential as being way more positive than we expect 5. POO to climb further . USA reserves to drop below 400mb despite shale up tick.....driving season and economic uplift. Plus increased oil exports. I suspect we are in for an amazing 12 months

The last podcast with links already shared cover this in detail

Kibo will pull MCIPP off and that is as good as it needs to be if they get messed around at MCPP

Way more to this for valuation purposes as we now have MCIPP which looks to be far more advanced than perhaps realized. waiting for an ICPR to fill in the blanks for the Bank feasability study which is all but completed. We have been speculating as to why the MCPP its taking its time, could be good reasons such as Phase 2 being discussed. Could be bad reasons such as tariff rate differences. Only LC knows for certain and he is saying nothing. This could easily be a case of when it does break it could be a long slow seepage of news and value, or, it could be a tsunami!!

https://seekingalpha.com/article/4163393-one-critical-issue-makes-ge-strong-buy

Is latest retrace just the Mms gone fishing to fill an order? I suspect we will know by Friday, if this represents a great top up opportunity........or not!! Lets suggest that the MCPP is not going to show any progress for the next two months. I suspect and expect the opposite from MCIPP. I am also more than convinced that LC knows that the TG isand was always going to be far from close to agreeing final terms hence he planned MCIPP last year. If there is progress on the 300mw MCIPP by end of June this may in itself more than make up for the MCPP. One and only positive reason for the MCPP crawling along is that this may be because of phase 1 & 2 being built in to a joint start. Or does anyone think that the lurker is correct by stating that Phase 2 and 3 require their own start up process with a new ESIA etc. If this is the case then I can understand why LC would resist this as he wants the work to start now.

$77+

Dw seems to be very confident re getting a farm in partner for the ice wine conventional leads once the 3 D interpretation is completed. Yukon seems away off down the road just yet. Looks like the net 4m due from SOA may come in sooner rather than later. This may raise the cash in bank to close to 17m$US by June 30th this year. Not too shabby at all. Just hope that ice 2 delivers a flow close to DW aspirations and d even closer to my ''BET'' of 221bpd made probably 12 months ago when we ran the guessing game.