Member Info for miker444

Jarv55, good posts mate, if you look at Page 11/12 and compare the size of the intended Appraisal well reservoir compared to Chudditch-1 it looks an absolute Monster, and that's not an exaggeration.

atb.

Your point on Chudditch -2 is spot on. We know through the CPR by ERCE that we may have up to 3.2 Tcf recoverable if taking in to account the surrounding areas of Quokka, NE, & SW Areas and this is with a gas column of just 30 metres.

The Chudditch-2 has approx a 130 meter gas column ( 4 x ) and if connected has a length of 12.5 km! The volume of gas in comparison could be triple / quadruple that of Chudditch-1.

Therefore talk of an sp of 1.7p -2.5p for Chudditch-1 when 'sold' could see an additional 3p-5p on the share price for Chudditch-2.

This is obviously in a SUCCESS case scenario but the whole region is gas rich ( Greater Sunrise / Kelp ) and therefore the odds of a successful drill look good imo.

So my point is it is well worth sitting on hands / loading up when you have the funds until Xmas / New Year certainly for the multiples in sp from the current price, even a 50 bagger will be just 3p.

atb.

Allenby have released today an update of Chuddirch-2 appraisal, it includes potential JV partners and is worth a read.

atb.

Can't change what is happening with the sp right now, that's obvious, as is the disappointment and frustration, myself included. As a LTH I am asking a question to myself. In Chudditch-1 we have an (upside) estimate of 2.7tcf backed up in some part by ERCE CPR. This is how Cavendish came in with the best case scenario of sp 3.7p. After this dilution that is circa 2p pro-rata.

The question is can we get Chudditch-2 drilled, expected around December. This is for me what is needed to turn this in to a success case sp wise. 3d seismic shows a gas column of 100 meteres for Chudditch-2 as opposed 30 metres for Chussitch-1. We could, and yes it's a lot of if's and buts, have even bigger numbers of gas with triple the size of the gas column. This could then give us back an sp above 3p.

Do we cash in now shares which are at their all time lowest, at a big financial loss, or do we wait 10 mths to see if we get that 30 -50 multi-bagger.

Yes it depends on a JV possibly more dilution or the likelihood of going to 30% ownership as opposed to current 60% but hopefully this will be countered by gas volumes increased to 5tcf+. It's 10 mths to find out and I will not sell at a loss so prepared to wait, fully respect others will not.

atb.

I think the point was in response to a share that is worse than Boil i.e UKOG.

Don't lose sight of the fact that Boil are an investment company and not a producer, we will hopefully have a buyer if Chudditch - 2 with its 100m gas column takes us to 5tcf, we will not be waiting 7 years for production.

Seeing as the Environmental Survey to be carried out was aided by talking to Companies working in the area one can assume there's a good likelihood it could be ENI or Inpex ( as dougb alluded to ). On that note it mustn't be overlooked, irrespective of the survey contractors, that we are in dialogue with some sizeable & important Oil production companies. I am reading in to this that to put someone forward and assist them in finding suitable contractors then they do so with a vested interest themselves further down the line, you do not assist competitors, not in business.

atb.

Mornington, someone asked what people thought the sp would finish at by close of play, I think 0.28 was Andy 268 guess.

atb.

Some good posts guys, there will always be some risk but the seismic data does appear to show that Chuditch-1 and Chuditc-2 may be connected and is at scale (over 4km long), the connection suggesting that it is a continuation and the risk greatly reduced.

Whatever is decided by Andy Yeo / Andy Butler they are what I consider to be nice problems as opposed to no available decisions or outcome at all.

atb.

I agree with dougb in that Allenby only take in to account Chuditch-1 which has a gas column / layer of approx 30 metres, the seismic data of Chuditch-2 has over 100 metres. If Boil stick around for the drill of Chuditch-2 the Allenby Capital broker note valuation will be blown out the water. I suspect we will be looking at in excess of 5 tcf and sp may well come in anywhere between 3p - 8p.

As i say this is with Chuditch-2 which is a multiple in gas volume compared to Chuditch-1. Not ramping just looking at the seismic data and yes it has to be succesful!

The potential rewards in sp are worth waiting a year for imo.

atb.

Fair enough, just bought £8k so ill be happy if it doubles.

atb.

THG your post at 15.05 do you mean 0.45p or 0,045p?

atb.

Passiton, apologies for the late reply, yes that is the broker note in question, Page 3 last but 1 paragraph states pre-risk drill sp circa 6.1p. It all depends on the final figures tcf volume wise but the proposed Chudditch - 2 gas column is 100 metres in depth as opposed to Chudditch - 1 being a 30 metre gas column. A multiple of 3 x and the length nearly 4km reaching back to Chudditch - 1. Certainly be talking in whole pence compared to where we are now mate.

atb.

I believe Cenkos Securities, joint broker at the time gave a best case sp of 6.2p, just to add this was for the best case scenario and from memory with the drill completed. Can't find it but its there somewhere.

Which would be 0.3p making him correct in his calcs.

I think he is placing the decimal as against £ not pence, therefore £0.003.

Not massive but big for BOIL, 3 x buys £21k, £21k, £22k, might just be that someone thinks the sp can only rise at this price, enough for a decent profit anyway.

Jambone, regarding ARB I found it incredible the huge new building, the size if a small country, to house floor to ceiling mining rigs, brute force not intelligence, was built in one of the hottest US States, namely, Texas, so forget the electricity needed to power the rigs the actual energy needed for cooling on such a scale would have been off the wall, it was a dead duck even before completion. To that score the ARB CEO totally got it wrong. In comparison FG comes across as a wily old fox, there are sometimes advantages to being in your senior years, wisdom being one of them.atb mate.

Just to clarify, FG has stated we are in advanced talks regarding the designing of a chip, he has not mentioned a Tier 1, that's my take on companies large enough to produce 4nm semi conductors with costs coming in at circa $100 - $200m.

Notready, totally agree, absolutely nothing can be ruled out, however, if I was a gambling man, to which I am not, I am coming down on the side of deals with some of the majors and a continuation of designing our own Asic chip with a Tier 1, which is also in advanced stages.

Whatever happens it looks as though we will be heading in the desired direction of sp uplift.

atb.