Member Info for MTSparky

...must be due on the awards of the 28th seaward licenses? Applications were submitted in April 2014. FROM WSX RNS The Norwest-operated joint venture group (NWE Mirrabooka UK Pty Ltd and Wessex) holding UK onshore licences PEDL 238 (Christchurch) and PEDL 239 (Isle of Wight) has agreed after discussion with the Department of Energy & Climate Change to an early relinquishment of these licences. In the same way that offshore Promote Licence P1928 was relinquished early at the turn of the year in order for it to be included in the current 28th Seaward Licensing Round, the PEDL 238 and PEDL 239 licence areas can now be included in the 14th Landward Licensing Round which is expected to be held in the second half of 2014 and in which the joint venture group intends to participate. The joint venture group has acquired a considerable volume of new technical information across the area of these three relinquished licences, including onshore and offshore seismic acquisition, extensive seismic reprocessing, Full Tensor Gravity Gradiometry and geochemical analysis. Analysis of these data over the past year has given the group unparalleled insight into both conventional and unconventional plays in the region. This will allow the group to focus its re-applications around the most prospective parts of each of these areas, which are located on the northern flank of the English Channel Basin, on trend with the prolific Wytch Farm oilfield.

I reckon things at Wessex could move quite quickly now. A massive placing would be good for us. Raise £million's and expand the asset purchases.

The new shares in issue will be 965m so at 0.5p the company would be worth just £5m. WSX must have £3-4m cash + £621k from HALO + 15% of SC54a plus + Cochran Factor + UK licenses + French Guiana. so in short, the SP shouldn't dip too far from here.

It wouldn't surprise me if Nido sell their % and operatorship in SC54a. A new operator would be better as they could bring the proposed drill date forward. Prospect of a drill would certainly boost the SP!...;o)))

If you look at RNS trade happened on 13th Oct. I have checked back and it must have been all those huge trades at 0.5p. They were all mopped up at 0.525p. Remember the 4.35m trade £22.84k and 5m trade at 0.53 £26.5k? Yep I reckon buyer is there somewhere.

Upwards, it can't get any worse !! Wessex now has Andrew Cochran at the helm, an asset in the Philippines, assets in French Guiana and soon should have onshore and offshore assets in the UK. Plus further asset purchases. Andrew Cochran commented: "We are excited by our investment here and the opportunity to grow the Company through its next stages. We look forward to working with our fellow shareholders and, with their support, expanding further while continuing to actively develop the portfolio in order to maximize value for all."

sold a few shares. He should of held on for a week or so. Impatient. Not like us...;o))))

So that's Coastal, Dominion and now Salamander all grown and then sold on with the help of Cochran. mmmmm I wonder what he will do with Wessex??

Well I have no details, but Cochran will surely have quite a few shares already. Bidding war can only mean £££'s for share holders.

would be very welcome. Some insto's buying in or Cochran increasing his stake. UK license news could drop any time...;o)))

http://www.energy-pedia.com/news/general/new-161324 Andrew Cochran commented: 'We are excited by our investment here and the opportunity to grow the Company through its next stages. We look forward to working with our fellow shareholders and, with their support, expanding further while continuing to actively develop the portfolio in order to maximize value for all.'

Bulletin Board Heroes, today. Good support at 0.5p with an upside to 1.2p as was reached in May. Charts looking very positive for WSX.

Wait until Wessex gets granted the UK licenses. Onshore and offshore. It could be our UK licenses Cochran is after all along. A little help from UK Gov maybe???

Faith wins again .....80) I still think SC54a could be drilled sooner than 2018 time will tell. Cochran factor should take over now. What else is up his sleave? UK license news to come soon. If I were Cochran I would be tempted to sell our interest in French Guiana. Raise cash and buy more assets.

"There's just one more thing, sir! ..." haha Well it makes sense to me...if no-one else....;o)) The Nido sale deal falls through in March 2014 and up steps Cochran April 2014 with a cunning plan. He would need a PLC to buy into the asset and Wessex comes along. Right time right place?!?!

3/31/2014 - NIDO PETROLEUM TERMINATES SALE AND PURCHASE AGREEMENTS FOR SC54A BLOCKS Nido Petroleum Limited advises that the sale and purchase agreements entered into between Nido and Colossal Petroleum Corp. with respect to the company’s participating interests in Service Contract 54A and Block A, Block B, Block B Retention and Block D Retention of Service Contract 14 have been terminated due to the failure of the parties to secure relevant joint venture and Government approvals. Nido will therefore retain its interests in these Service Contracts. ...It does look like WSX will be taking Nido's position in SC54a. Wessex would need agreement and Government approval before doing so. Is this why Yilgarn / Kairiki sold out? Cochran and Co will be taking operatorship and full control of proceedings?!?!

Well WSX probably have enough cash for a drill in the UK. No major holders have sold yet so all looking good. 0.5p could be looking very cheap soon. Worth holding out for a bit longer me thinks. WSX could be drilling on at least two fronts soon, UK and Philippines.

The Horse Hill development has struck oil and possibly gas. UJO Union Jack are currently drilling and are also testing a discovery so it looks like UK boom time. Some new from UK Government regarding Wessex UK license applications would be very timely. Forget Philippines WSX could stike gold in the UK. Even better IMO.

MM putting all these trades through PLUS. Is there anything cynical in that from an MM perspective?? I still think something positive is brewing with Wessex. UK based oilers are all doing really well. WSX must be due some news relating to our UK acreages.

The Joint Venture is in discussions with the Operator of SC 14A regarding the option of developing the 1X1 oil discovery via the Nido A platform. The Company is also continuing to seek farm-out and/or divestment opportunities in relation to the asset. The Joint Venture recently received approval from the DOE for an extension of Sub-phase 6 for 12 months with Sub-Phase 6 now expiring on 4 August 2014. .....Nido are looking for "farm-out and/or divestment opportunities " you would have to assume that Wessex are taking either 15% or 42% and operatorship off Nido?!?!