Member Info for NoEasy

The crux of all this is not solar nor the 2MW's, nor the effect of Covid-19 or any other sideshows such as the finance. Let's concentrate on what is important here and that is commercial gas flows. It seems to have been forgotten by most and that's not surprising given the chaff being put out. Our best chance of a good or even great payday is releasing the huge gas resource we have. TG if you do read these boards what will it take to get that gas out? How many wells and and what cost for those additional wells.

You guys have some holidays. Haven't you all just had a week off at your cabins.

Any jobs over there for a walnut pickler?

Three business days it is then.

It's reasonable to say guys that if I was a person likely to get early info I wouldn't have been putting my money in an exchange where there has been next to no liquidity. All adds to the tension though. Four (business) days and counting.

The board have indeed done an amazing job. I first invested in 2011 and although its taken a while they kept at it through a bear market for gold and have come out the other side as one of the few who get from explorer to producer. They should all be proud of that.

Sorry Cdnoil the first date should have read 30th August 2019 not September. Hopefully that should tie things up better.

Cdnoil,

' I recall we had one extension already, because of Ebola. I recall it took months to get that sorted out? This is the part that concerns me. Does anybody know how fast it should be to get Nigerian approval of a license extension? '

The Ebola extension was for Liberia. This has had two extensions I believe the last one being conditional. How fast could we get an extension? Precedent is there with LEK oil. They were in dispute with their partner and indeed the government at one stage but they and their partners came to a legal binding resolution on taking OPL310 forward on 30th Sept 2019 subject to amongst other things, 'to receiving an extension of the OPL 310 licence from the Ministry of Petroleum Resources for the Block ("Extension").' Sound familiar.

Five days later they got this, 'pursuant to a letter dated 4 September 2019, the Federal Government of Nigeria and the Ministry of Petroleum Resources has approved the extension of OPL 310's '. So the government can move very quickly once a settlement is agreed. Clearly that also tends to point towards the government already having been primed and in cahoots with the partners over the settlement of the dispute. That is my guess as to what is happening here also given the initial 35 days to get everything in order plus the PSC extension.

Regarding your next question: 'What is the likely timing and next steps until we could put a drill bit in the ground?' Well we know that the timeframe put up by the company in January 2017 was that they were 7 months away from putting down a drill subject to finance being secured. If some of the work that was still needed then has been done in the interim 3 years that timescale could feasibly be reduced now. I'm not saying that work has been done or even could be done but I'm working backwards from 7 months if Essar M. want to drive the bus as fast as we wanted to and if the NNPC can approve the contractors in quick time which was also flagged up as one of the critical elements to a fast drill.

Hope this helps.

Spandau its all about tradeoffs, I feel I can answer your question and make you a lot of money..........now first I've got a lovely little old lady I'd like you to meet..................and she's still got her own teeth (I've seen them in the tumbler).

Seriously, Changedman has nailed it with his 18:37.

Which is it SupremeSpod:

Junk stock or tipping his mates the wink about a money making opportunity?

'...we would be lucky to have one poster having a conversation with themselves on this BB.'

Yep I still remember HarryMann.

Nice to see you back posting R_Dunc.

I agree. I feel we will keep returning to Arthur's history for a wee while yet. People are recognising the change in momentum here but the blockage is that they are not necessarily willing to believe it. It all boils down to the lack of candour the CEO has employed over time. I don't see paranoia just rational distrust. Hopefully that distrust will diminish somewhat within the next 14 days and we can all be allowed to soak up some confidence, lose those who just want a personal battle, and talk about maybe getting some oil out. That would be nice.

Surprised anybody is prepared to argue over this. It's an update on something that is happening very near term. When I first saw 35 days to get everything done my worry was it was deliberately put there as an impossible target for us to reach. Clearly that's not the case, they did expect there was a reasonable chance of meeting that deadline, supported by the fact that all parties have been happy to extend the period as necessary.

Yes been a long time for some here but proper progress on OPL 226 is happening and we are for once being told about each step. That last bit, when compared to what has gone before, tells me all I need to know.

Time enough guys.

You're welcome Bolton.

Let's see what the next week brings to cheer us all up.

Bolton the issue today needs separating into two.

The delay.......it happens...the final confirmation of settlement and extension could come anytime as it's still very much happening according to the release. That for me is a given at this moment in time.

The placing......again for me........ we've been shafted on that one.

Art once mentioned the support of his 'loyal shareholders', well what we would like to see is a loyal CEO. Maybe there's a good reason for this placing, more importantly why did it need to happen at this minute. Jiving's 'funded until November' tells us he could well have waited. Why didn't he? Perhaps he could tell us.

If you can put the distrust that materialises from Art's wheeling and dealing behind you then the move towards oil is much, much more likely now than it has been for the last two years. Whether that means we do drill or not is a question that can only be answered in the future so pointless putting too much thought into that with the info we have not got to hand.

Well some great posts and opinions guys.

I may be wrong CawCaw but everything tells me Essar M is free to do what it/they want, I'm not sure they have to play ball and maybe not to our timescale. They gave 37% to Agamore 'in return for the provision of certain services including facilitating obtaining all necessary governmental approvals and taking responsibility for community affairs and other matters.'

Reality is we couldn't get that percentage despite all the millions we spent on highly skilled staff and consultants to furnish the partnership with a viable field development plan. That seems to tell me there's only one entity driving this bus now.

I would take it the deadline has been missed CawCaw. The timeframe is now 'shortly"

'We continue to work with Essar to complete the legal documentation required to effect the OPL226 transaction as outlined in the agreement in principal announced in June 2020, and we anticipate concluding that documentation shortly.'

I still think they will complete, It's not the delay, I was half expecting it. Unfortunately I don't have to try too hard to imagine Art rubbing his hands with glee at the switch of announcements. Regardless of the truth of the matter it does seem callous to say the least.

Drat, blast, heavens above.......

(Profanity isn't my strong point).

We used to race about on the pit stacks on wrecked Honda 50's and 90's but it was a year after you I got my first road one. I love my bikes both new and old. Haven't had one for a few years but just lately I've been contemplating the unthinkable, Watched the Hairy bikers doing a programme from Austria the other day and I thought then 'why not?'

Hope you have a good day tomorrow or at least in the next couple of days Rk and the same for all holders.

ATB NE

Lovely bike Rk. That yours?

Essentially you're saying I'll be like Tigger with a spring up my arse!!!!!!!

Anyone else got a bike I can borrow?

Thanks Shaa you're an absolute star.

Has it got a soft saddle?