Member Info for minimil

That the Miles who sold his ncyt for 8 quid this/last week?

I am sure there are people on this board waiting patiently for the next RNS for the mid-summer test that never came.

I am not 100% sure now if they can release news good or bad given the Director sell today. Perhaps magic Miles can add his wisdom?

@bedeli - polite post but is he going rent a spare room to you?

Say no more...

Not at this pace and lack of news on BAMS testing and LFT.

US elections may be suppressing Cytiva information but no excuse for UK.

Well done NYCT holders 10 quid sp - silence deafening from Sir Al.

Probably best stick with cancer as the boat is going fast - incredible given the statements he has made.

A long blog to say you made a few quid - go away

Timster@ We all hope it will be, but how long does BAMS and LFT testing take? It either works or it does not? In the meantime the opposition are selling snow to the Eskimos at very high prices.

Difficult to state this one - 15,000 feet drill - even if you went for a range of 400-600 ft per day you could be 8 days out irrespective of the wireline logging.

PI- thanks, I note that there are not many responses to SC's challenge (probably because of a lack of technical competency experience or both). My post was a summary based on my experience in the industry, so if anyone want's to discuss the numbers I would be happy to do so provided they come up with their own.
I don't particularly want to wast time with the SP crystal ball soothsayers or the paid rampers or de-rampers. At the end of the day though I do not give a rat's arse because I invest my money to make it. Each player should do their own research and make their own risk reward decisions.

StarChild - It's a bit of an over simplification from you i.e. no production rates given, but happy to throw my guesswork in. There are two targets remember on this drill and any oil shows in the shallower depth will obviously be good news and boost the SP. If the mother load depth is successful then it will be take off. My OPEX based on an FPSO would be in the region of $100MM per year, that includes paying off a loan over 8 years to cover the main CAPEX items (drilling 6 production wells e.g.). Key to the SP apart from POO is the initial production rate. I have taken 25,000 bbl/d for 347 days per year 25% royalties to BG. That gives me an SP of 31p using a P/E ratio of 10. Increasing production to 35,000 bbl/d would take the SP nearer 50p. Assuming it takes a fast track 2 years to go from discovery to production and only 25,000 bbl production I would be looking at 20p SP on successful spud. There is still no update yet on T&T assets (500 bbl/d by end 2021 and 2500 bbl/d by end 2022) so I would only add 1p for now giving me 21p by end of day following announcement of discovery. Pre-spud therefore 6-8p.

That's my conservative **** on the block over to the rest of you punters...

Offerman - Thanks for your post, reassuring. Keep your pecker up!

GG - Nice little story but with drilling contract in place you need the second edition where 1 has died. 70% chance of 2 coming true and 30% chance of 3. Question is how many holders will sill have their money on the table when the operational update RNS is issued for the P1 drilling.

Ibitha- before the CERP takeover and the recent placing I would have agreed with you. Still not enough info from my perspective to value how much CERP contributes to the SP. Hopefully some news pre-spud will provide that? My original estimate was 8-12p but that has to be reduced by recent placing dilution and the CERP dilution.

Until the placing shares are sold (and there were a lot!) then it's anyone's guess we're it will be on spud day.

Congrats Jim, takes a while but you will eventually get your order filled.

Been watching this from the sidelines these past 2 trading days. MMs are trying to fill the big sells from the wonderful II's that SP and the crew decided to give away to at 2p. I am filling my boots at these bargain prices. Probably only another 200 million or so to go so they make their quick 5%.

SC, it would have been better (a little longer) if PIs would have been given the opportunity to take part in the placing at 2p. People bought in yesterday based on the RNS. It was deliberate in my opinion otherwise we would be below 2p. However, I can understand they need the money on the table now to progress this before Xmas.

About a 15% dilution so can live with that - no more deramps about not being able to fund the drill for Percy 1. wouls till like to see JV or farm in though and hope Travalgar are not one of the II's.

Chesh - enjoy the 3some - can recommend ;)