Member Info for mikemike

For an oiler with a mere 220 million shares in issue a CR of maximum 15% means 253 million shares in issue assume discounted to 3.5p under current pricing will raise close to £950.000.

Plus I would expect costs cut, with less on the BOD, it is already too top heavy.

A fund raise when the price was circa 7p would have been more beneficial.

As for giving away 80%, that may happen on a first well. If proven up, then expect the dilution to be less.

Yes there are two physical data rooms one in Perth the other in Houston. the virtual data room is everywhere

Bromb

correct it must

CF

I already have low numbers, Boorish as can be

I have no idea who may or may not have popped into the Perth real data room.

Yet Perth is hardly the first choice place i would choose for a data room for an Alaskan venture. They do have below Tier 1 oilers as well, in the same building as 88e?

Otto
RMP

Just encourages me to speculate.

Prefer to join WA in his shed for a cold one.:)

I cannot attend but would dearly love to

If anyone is going and is happy to ask questions i have a few

1/ Will the BOD cease or reduce income in favour of options.

2/ There seems to be a lot of BOD members for a small near dormant company. Will this now be reviewed as part of cost restructuring?

3/ Did the agreement with Noble lock out discussions with third parties?

rpoodle

yes no argument there

I am not sure how the SGM is going to be constructed as the BOD are reticent with regards to responding to emails.

I think an Organised Q & A is needed

I suspect we will continue to have downward pressure until the Tender issue is sorted

and yes it is 100% Tender!!

Cf

I have one of those as well

want to share:))

I disagree the cash burn is not 400,000 pa that was the previous year. They have reduced costs since then hence cash burn of 329,00

I understand that by using the published accounts i could be wrong, yet i doubt it.

WA Now that is my kind of data room ' a beer on tap shed' I see oil lots of it:))

Suggest you read the accounts again

$780,000 cash

$329 000 burn

Auditors going concern report

''In the event that funding ceased the cash balance held by the Company is sufficient to meet the
ongoing overhead for a period of more than one year, during which time the Company would seek to
raise further finance.''

I would expect questions around the financials at the AGM

HH

correct

For me a big clue is that a physical data room exists in Perth, the blokes from Sydney do not go there. I expect Oil Search may have visited along with Woodside and BHP Billiton.

Tuggy i would be deeply disappointed in the business acumen of any board who when put on notice that a deal may not progress, did not have viable alternative for consideration. The BOD has in effect been working a Notice supplied by Noble that has covered costs and allowed the cash to build.

I would expect that they would have been in discussion with other parties. What I do not know is if they will have been allowed to share data as Noble had in effect paid for exclusivity.

That exclusivity if it did exist is now over.

Perhaps another question for the BOD at the AGM

Yes

trouble is we do not know if the cabinet has met and if they have if the 3 SMLs were on the agenda

Friday 26/10 after 5pm

so looks like an after hours RNS Friday to tell us what is going to happen or a Monday morning delight

Like all AIM shares wright it off as soon as you invest. That way you will know where you are from day 1 :))

cjml

I doubt we need tier 3 expertise for conventional

Not sure how expert a tier 3 would be for the shale

As for the rest time will tell

N1

I suspect that the Mms are holding a tight book, marking down and no liquidity

Yes there is, from memory that was recently extended, it is in one of the RNS