Member Info for mikemike

I am pleased that Dr Staley is involved on this analysis for conventional. His reputation is solid and it gives me a greater comfort for his input.

Question is how long does DW need to ring the dinner bell for the prospective farm out customers to start to firm up their intent.? This is very much a corporate presentation, that Pi's will like.

I am starting to think the extra 250m barrels identified leads are a sweetner for someone.

Will it be extra encouragement for a farm out? certainly may reduce dilution to a net figure far bigger than the original 1.1bb first mooted.

or if this process is taking too long

Cr with 15% placing at 1p UK a share to raise close to 10m$US. I have no issue with this as 250mb is worth way more than 10m$.

I confess I do not have the slightest clue as to which way it will go, Yet, I am satisfied that either method will be accretive.

Who knows, we may get both!!

I be surprised if we are looking at a buy out in 2019. Not enough drilling activity planned to have a better statistical success rate. Armstrong had a dozen successful drills. We may not need as many drills , yet probably need more drills than are planned. Buyout sometime 2020, maybe?

One thing for sure very exciting times and I am looking forward to an identified ''Game Changer''.

I doubt that they would accept him

I am pleased that Dr Staley is involved on this analysis for conventional. His reputation is solid and it gives me a greater comfort for his input.

Question is how long does DW need to ring the dinner bell for the prospective farm out customers to start to firm up their intent.? This is very much a corporate presentation, that Pi's will like.

I am starting to think the extra 250m barrels identified leads are a sweetner for someone.

Will it be extra encouragement for a farm out? certainly may reduce dilution to a net figure far bigger than the original 1.1bb first mooted.

or if this process is taking too long

Cr with 15% placing at 1p UK a share to raise close to 10m$US. I have no issue with this as 250mb is worth way more than 10m$.

I confess I do not have the slightest clue as to which way it will go, Yet, I am satisfied that either method will be accretive.

Who knows, we may get both!!

I be surprised if we are looking at a buy out in 2019. Not enough drilling activity planned to have a better statistical success rate. Armstrong had a dozen successful drills. We may not need as many drills , yet probably need more drills than are planned. Buyout sometime 2020, maybe?

One thing for sure very exciting times and I am looking forward to an identified ''Game Changer''.

I doubt the Donald will allow any strategic positions from the Chinese he is in a Trump trade war with them.

Then again the guy is so loony tunes anything can happen

Quite clear that the head honchos of IOC are not being treated any different to LC or the other two CEos chasing their SMls.

The bulldozer is clearly in charge and ts his way or the highway. another reason why LC has to be very careful in managing this relationship. Not just in terms of getting the paperwork but ensuring the paperwork does not get pulled further down the track.

Nothing is for certain except uncertainty, all part of ''in country'' risk

128063

Why would I or anyone else here have to understand the financials when we have you. You can pull apart a balance sheet and so much more and so much better than anyone else.

Only you can understand the financials, yet have demonstrated that you do not. Perhaps you have the currency values confused? Perhaps you do not understand why rebates on the western blocks do not coincide with start of SOA financial year when the Lease payments are due.

Dw was not phased by the possible non receipt of the SOA rebates this financial year. Have you ever thought why? or dropped him a note and tell him about your concerns after picking the balance sheet apart. You never know some on here might have done just that and that is why we are not as worried as you appear to be.

I am so not worried about the financials, that if DW decided to purchase a few extra acres on Yukon with the Q4 options conversion funds I would not be worried.

I am also not worried if farm out is not announced this week as opposed to end of this Qtr, It does seem to be a concern to you. Eric our main man on the ground will with DW be far more advanced on when a deal needs to be made for rigs for a Q1 2019 drill for IW1C. I do not see why you believe that the end of this week is a cathartic moment for a farm out. As far as I can tell, you are in effect just saying '' because'', no substance unless of course you know exactly what DW and Eric have discussed with service providers on the NS. If so can you share the specifics?

By the way what was your name before you recently rejoined?

Island girl

The farm out that is being worked on as i am not able to use the word 'negotiation. is not aimed at IW2 Shale well. The Farm out that is being referred to is the IW1C ie conventional well on the western icewine play.

The Farm out for IW2 will probably not be taking place until Spring 2019, if at all.

hope this helps.

128064
I see you recently joined what was your name before you changed it?

From your post you are presuming too much me thinks.

You clearly do not understand my post if you think it is clear that I am saying there will be $6.2m US in the bank, no doubt as to currency used btw.

Not sure why you are having struggles with farm out, very confusing. Dw made it clear in presentation and Q & A that he would prefer dilution through Farm out not equity. Which part of this do you struggle with.?

I will just keep posting and you can just keep doing what you are doing as neither of our posts is going to affect anyone who does research and makes sure it is DYOUR.

Perhaps your posts are not as clear as you believe they are? then again you can dumb down on them if you think it will make a difference.

I will not treat that as condescending, just trying to be helpful.

Spinefx

agreed their is a focus that few others can apply

Yet Rugby has been professional, formal as opposed to shame since 1994. Very few countries outside of New Zealand and Australia have embraced this challenge as well as they have done. Hard to see why < yet i suspect that central contracting has gone a long way to securing this difference.

In addition the NZ boys are happy to go overseas to pursue a very lucrative contract so home based financing does not appear to be attractive to all. I wonder if AB policy on of not picking overseas based players may get reviewed much as both Springboks and wallabies have done.?

No doubt that for what ever reason the AB just want it more.

The Norway model is that 100% electric or Hybrid?

Agreed the AB's are top dogs be it home or away, was it really three years ago they destroyed the Springboks in their own backyard 67-0! If 88e and a few others come in then it is going to be airbnb world cup time, if the boss lets me.

Agree local consideration are not going to get in the way of a tree hugger, even if there is not much in the way of trees above the Alaskan tree line.

Just think it is a nice piece of business for a very small parcel of land to, in effect do a reverse take over of a huge resource and not pay a penny for it!! It just appeals to me.

Yukon Gold; can they include any ANWR resource as a bookable resource, if most of the oil will flow from there?. So I wonder how they value the potential.

As for the wallabies becoming scrum majors i think the springbok selection was amiss how they can leave Malcolm Marks out of the starting line up I will never know. probably best hooker in the world.Certainly top 3 players anywhere in the breakdown.

Wallabies always had the players up front. For me the mystery was why did they never seem to come together as an 8. This last outing they did just that.

Next up is AB v Springboks and Wallabies V Pumas I Intend to be back in lion state city for that one. This 'other side of gates of hell' is wearing more than thin.

To stay on topic

If Trump gets booted out their will no longer be any opening up of the ANWR. this could be a good thing as there will be little motivation for the feds to want claim mineral rights to below ground oil reserves. So if Yukon gold is the western tip of a huge reserve under the ANWR we can stick a straw in our section and empty the whole lot at no extra cost or royalties. I do not see trump out as being a reason for the feds to stop work outside the ANWR which will be good for our western block plays as opposed to IW1C which will look to head east to TAPS at pump 2.

Bromb

That NZ a larger land mass than the Uk with less than 5m people against 65m plus. Just goes to show what ''wanting it'' really does mean. Steve Hansen is going to take a 34 man? squad of first XV players to the next world cup.

Many other countries would like the next 10 who did not make the first choice pick!! as shoe in's for them!! Their structure with central contract players has proven its worth. even now those who have been cut from the squad are playing Mitre cup rugby like men possessed as they ant a call up if any of the g final cut are lost along the journey. who will ever forget Steven Donald being called off the beach, then the bench to kick the winning points back in 2011 final against France. All three first choice out side halves suffering knee injuries in the tournament.

The strength in depth is prodigious.

Back to 88e as not wanting to confuse anyone I think IW1C will be heavily on the agenda between now and end of month

You said it was 5.25 make your mind up.

I am still on for 45p as I suspect SML and PPA with near term 600mw, at 15p per 300mw plus ML for MCIPP and coal sale contracts to be announced as they will already have been worked on in anticipation.

I could be we wrong and it might be less but not 5.25p

18064

you have not posted anything we do not already know.

That is why a farm out process is underway. As I dare not use the word 'negotiation' or 'discussion' as that may prove to be confusing.

What we do not know is the nature of the Farm out that is underway, nor do we know if the 'underway' has progressed to 'discussion' or 'negotiation' level.

To help you not get confused I will refer to western ice wine conventional drills as IW1C, pending any formal naming ceremony.

The farm out process may be for a drill, it may be for a drill plus more acres. we do not yet know. The analysis of the data room will answer that, we will know sooner than later.

Unless DW has changed his mind, he is free to do so without having to tell us before hand. I would expect he still favours farm out dilution over equity dilution. Maybe those questions can be asked on Friday if an RNS has not been issued .

Suggest we stay patient for a few days longer and maybe more will be revealed. You never know Dw may recommend that the 3p offer so dear to Phrontist has been made and Dw suggests acceptance.

Time will tell

Indeed page 12 of the presentation specifically mentions 600 mw as being on the table, no assumption there as it is black and white.

''Provision for near term expansion of the power station to at least 600MW''

128064

Icewine i conventional not icewine 1 shale agreed it is confusing.

The performance bond has been paid so included in the deductions? the option is close to 1.3mAUS as opposed to close to 1m$us I prefer to use US as we pay our bills in US.

Farm out process begun as opposed to negotiation, is that semantics or is their a difference?

Hope this confirms no points missed, or quoted incorrectly

128064

1/ western blocks are outside of the icewine area, that is the Nanshunk area and fully funded with performance bond rebate due.

2/ western icewine is where the two conventional drills are permitted one of which is under farm out negotiation

Icewine is the total acreage held under lease in that contiguous block. Franklin Buffs gravel pad is part of a larger held acerage referred to as icewine. The drill titles such as IW1 and 2 s should not be confused with the holding even if it is confusing.

The winter drill campaign for the western block is fully funded with a 1.2m$ rebate due. plus 1$m in Q4 options due.

how much of the 6,2m$ will be spent on opex as opposed to capex?

The capex costs to be covered by farm out and probably enough to cover opex needs as well.

I suspect we will know soon enough. i just be surprised to find that farm out for one is not more advanced than we think.

Question is how many acres will be made available for the farm out? and what value will be attributed. DW preference as stated is for farm out over equity placing as a method of dilution. The acres Farmed out may then support further drills.

As always the devil is in the detail