Member Info for miker444

The biggy in all of that for me was that they pointed out a lot more running room at West Newton ? So what is there in addition to the 189 bcf and deeper Cadeby Formation, more gas drills? If there are then the total bcf's would be game changing.
Going to listen to that part of the interview again incase I have it wrong.

Seeing as the volume and pressure of the gas was much higher than expected resulting in oil flow rate constriction we can assume an increase in expected revenue from the gas once tied in to the existing pipeline. Every little helps.

So hopefully we will have an update by the end of the week, don't care if it's not earth shattering just be good to hear some reassurances that it is not being abandoned and walked away from to come back in a few years etc etc.

We know we have 15m barrels or so but for me its the data / analysis from the significant hydrocarbons data from the sidetrack that may be the decider / icing on the cake for Wytch Farm as early indications were strong similarities to the already producing Kimmeridge / Cornbrash fields on land less than 2km distance away.

Fingers crossed.

So the gas tie in for VG-4 completed this week so in addition to the gas revenue we can then ramp the oil up to 500 bopd.

Nearly there. :¬)

The sp should have some momentum with the timetable of newsflow up to and then including West Newton followed by Parta.

As soon as production figures are released from Monroe Swell and in particular VG-4 when the oil & gas separator allows for 500 bopd (ish) only then will the mm's admit to having hard copy evidence and allow sp to breach 1p.
My point being we should be at a hgher stabilised sp when West Newton results are announced and thereafter another sp leg up with Parta and each time another drill's production is known from Monroe Swell /Parta/Grizzly Island etc.

It's proven up production figures which will make this move not the promise of them no matter how high the COS is.

cheers Greg thought you meant UOG was further ahead hence my confusion, don't ever get old mate not to be recommended :¬)

40 days drill time is actually a lot qucker than originally stated by Steve & Sachin, they quoted at least 2 months in interviews so 5 - 6 weeks instead of 8 so results early June hopefully with other news to fill in that gap before then.

Hi Greg mate, enlighten me sir if you would, you say UOG may be further down the road to cashing in, would cashing in not be a job lot for all JV partners in that the 15m barrels is 'taken' in its entirety by Perenco or whoever and then the financial proceeds divvied up by % of ownership, ADL getting 8%, RBD 16% etc.
I do accept also that ADL might cash theirs in for 4%-5% for quick sale but again would some be further down the road than others and how.
atb

Hi archie it would appear that Curlew A has not been factored in and with 45m barrels it should be a decent NPV, if we hold 37% of Corallian then every time they have a result we get our cut so a win / win imo.

Hi Greg, yes I did not sell as it was not an amount worth the conversion unless of course it went into administration.

But have to say I am far more upbeat now with all the 'chatter' in the background than I was post Bunga/Badger/Colter.

Have decided to stay in well past the Colter news just to see where this might end up.

atb

Yes looks like a lot of behind the scenes activity going on, just a crying shame we will be starting any move up from 0.2p and not most people's average of 0.9 /1p from pre Colter days.

Thanks Greg, looking at the blocks available then a safer less costly bet would be one of the onshore ones.

Cheers Greg, that would certainly be a quick free up of cash to go forward to pastures new, i would like that and would see that as a big positive. I will leave you in peace.
atb

Just to add I would settle for that as it would mean it still has life and not consigned to the bin.

Greg nobody can know but if you were a betting man what would your call be for the outcome of Colter South, my take is it will not be definitive in that it will take many months to further prove up before the likes of Perenco are ready to take it off our hands. (Therfore the lose ends might not be tied up for ADL)

Just need that RNS and all will be revealed and the speculation will be over.

Fair enough can't argue with that as they don't have anything definite, other than Colter South and that's a toss of a coin, but for all of PI's obviously hoping that some news will be incoming soon if the reading between the lines with the new shareholders comes to fruition.
Thanks for the reply.

doubleup I have got to ask and its a genuine question, you seem a lot more philosophical than a month or so ago, have you dipped your toe in the water and bought back in especially seeing as the sp is practically on the floor.

Quick answer, its always better to use someone else's money than your own if you can.

Well Paul Haywood seems happy at this stage with Simon still on the scene as does Victor Hwang and others, something is going on behind the scenes, in fact not so much behind the scenes now Companies House has updated the new shareholder percentages.
We will have to wait and see for RNS updates to really know whats going on thats all there is to it.