Member Info for mikerockfield

Share price rising nicely, will finish the day similar to yesterday!

John Henry,

Don't forget, MATD own 100% and are fully funded??

Can you remind us of AAOG, are they 50% and poorly funded..sonething like that..Not to mention drill failed and was cancelled...

JohnHenry,

No point dressing it up, it smells of incompetence. Rubbish like "localised geological conditions" is basically poor preparation and incorrect location selected.

Bottom line, the drill has been cancelled. A new drill is to commence at the very earliest mid-October, I wouldn't count on it!

As for the insurance...foooorgeet about it!!

They already have one!

You wont see many on Bishands trolling posts however.

Those cant be your average investor trades, must be either MM's just floating shares around or shorters closing.

Why would you sell now at 8.5p? Even if you bought in at 7.6p two weeks ago you surely would have closed above 9p.

Ahh the whole illegal thing!..

No, quite the contrary, I think they've done a great job at keeping a lid on it, location probably helps. Bad news travels fast, so no sign of it yet gives me a positive outlook until we hear more!

A very tight hole!

I think they have not updated on depths or casings because they have multiple targets on the way down. They would also need to update on those if they did.
If there was dust at first target they're keeping a lid on it because more targets to come. If there was anything there they'll want to test it first to be certain!

But they are keeping a real tight lid on it in fairness. Do the workers have restricted communication with friends family? I would imagine tey have a friend or partnere at home lined up to press the button??

I dont disagree with you WildOne1, it should be a priority as a fall back at the very least. But I would imagine if SL is a success those same investors wont be too bothered as the rig moves to WH.

As GKahn says, there's more to this than just contract negotiations.

I can see where you are coming from WildOne1. I would hope that SL is a success and that Buck already knows this and Block XX is now not a priority. The money to commence Block XX can be used to further drill the Taats basin. If this is the case then Block XX can be drilled later in 2019, could be a cheap drill as part of a Farm-in agreement on SL.

On the other hand, if SL is capped and nothing is in place for Block XX by then, there will be a sharp drop in share price. This will put huge pressure on the WH drill to be successful.

It could make or break the company before the end of October.

Is that 160K buy showing on your live feeds?

Its not on mine.

Brainer,

1 week delay? Who's your source for that?

Could be multiple weeks delay here!

Volume??..It must be one of the lowest trading days since the spud date!

Yes WH is 2000m to TD, it is 1350m shallower than SL

Good luck!

Judging by the trades today most people have taken their positions now!

jndavid490,

Interested to know why you would cap a well in the middle of a 70 day programme?

Dinger,

Exactly, I think we are in and age now where people are used to instant gratification. When a company say its going to take 50 days, people expect news after 20 and then by 35 days there is talk of it being "late".

I suppose that would depend on the drill depth and the programme given by the company and if those times were exceeded. We were told it would take 70 days and if there was a discovery a testing rig would be brought in. So I suppose that's where we still are, any news in the next two weeks would actually be early!

Heading for 9.2p at the moment, volumes still average enough though. We will need to see more to get above 10p, definitely an 9-12mln trading day.

Why would that be?...Everything I said is based on SL being a success. If so Block XX will go to the back of the line.

If SL is unsuccessful, then they will move onto WH and invest the money in Block XX.

Would you honestly put money into Block XX if you knew Block V was successful with Block IV to come? That would be poor management of our resources.

I cant see why lads are so wound up on Block XX?

If SL is successful then Block XX will become redundant in my opinion, its a tiny prospect. It was only ever going to be used to generate cash flow. If SL comes in, it is many multiples and also opens up other drills in Block V. This would be before we even start drilling WH in Block IV.

The money would be much better spent in Block IV & V if they are viable than in Block XX.

Block XX is not a game changer! Hence they are waiting for results which could change the plan considerably!