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the strange share trading yesterday ?

Given today's trades and the current lack of price movement, I believe there could be at least one in the background.
Cue :)

I would imagine they would still have quite a bit of work to do before they entertain Cortina. West Phoenix is booked by Equinor until the beginning of April. I would also imagine there's an extension clause in the contract to allow for a Verbier side track, if deemed necessary.

Crikey, you're not very optimistic are you.
It's currently £1.964 on the bid and very difficult to buy in quantity.

can we bury the hatchet and concentrate on the important matter of Verbier, whose spud will be on us in a matter of weeks. This is one of the more balanced and better boards and it would be really good to keep it that way.
One of the W. Phoenix trackers, in the other place, is reporting its arrival at Bigfoot tomorrow.
The coming weeks' trading should be very interesting, as the market wakes up to our enormous potential.

I'm sure this conversation took place previously but with my memory ??????
I've just based my statement on a quick look at the closing prices on the "google share prices chart".
I was being kind, the actual price on there was £2.91 on 13th October :)
In any case, the past is the past, we all know the potential here and it would appear that the West Phoenix move to Bigfoot, the confirmation that they have been interpreting the seismic for over a month and the director's options/purchase has woken the market up to the large potential of Verbier and the rest of P2170.

The discovery was on 9th October 2017 and I believe the share price peaked at just under £3 on 13th October.
I suppose that's near £4 :)

Why do you say depending on the seismic survey.
Anything they interpret from the seismic dataset will obviously be put to good use for future development of P2170 and more immediately Verbier. But at this stage of the game it's all about the Verbier discovery and the fast approaching appraisal of it. In my view it represents an excellent risk vs reward play in an oil rich area of the UKCS.

It appears we have the pessimists on this board (or perhaps realists) and the optimists over the other side.
With reference to the Alkaid 1 well, it seems to me that they are just hedging their bets. They have a freebie in Winx 1 and if that comes in it's a game changer, no matter how long it might take to produce. I gather they are quoting up to $4m for the flow testing of Alk 1, so 20% of Winx 1 would take a lot of pressure off.
I don't think one can criticise their batting order.

The Ragnfrid North 6406 (2-9S) well has indeed been plugged and abandoned. But as you are probably aware, it will eventually be tied into existing infrastructure, in this case the Kristin field. It also gives Equinor and their partners more info on other prospects in the area, all part of building the jigsaw.
It's exactly the same scenario with us at P2170. Prove up prospects, situated close to infrastructure, to keep development costs down. This is increasingly the pattern in the mature NS and the UK Oil and Gas authority is actively encouraging companies to enter into partnerships to fully exploit the remaining reserves by working together on projects to achieve economies of scale.

I was thinking along those lines myself and found this site earlier. I don't know how high the waves have to be to halt the movement of a rig such as the WP but for the sake of a few days, I'd personally stay at anchor.
https://www.windfinder.com/forecast/norwegian_sea

Dick, I'd have thought that the only logical explanation for the delay and the apparent change in sequencing of the Equinor UK drilling campaign (Verbier 1st to 3rd) is so that they have as much information as possible from the 3D shoot. It covers quite a large area in P2170 of Verbier, Cortina and offset acreage. Presumably they can fast track the Verbier element of the whole data set to tie in with a spud of February/March. As ever, only time will tell.

Well the first sentence is wrong for starters and that doesn't say much about the rest of the post.

Hi marmaris and thanks for the reply. My quest continues for some one who can read mud logs and wire line logs.
GL

Reading your posts you have obviously been around the industry a bit.If your expertise extends into the area of geology then I can help you with your data but you will have to open a free account on ADV-N in order that I can send it to you. If it's not your field (no pun intended) sorry to have bothered you and good luck.

marmaris, I see that you mentioned earlier in the week that we haven't seen any of the data re Alkaid 1.
What kind of data did you have in mind.

It would take a lot of work to accurately obtain the relevant share prices at the time. Using 2-3 year charts will throw up discrepancies. But the wider point, which with respect you do not appear to have picked up, is that even your £3.30 only represented a mkt cap of circa £33m at the time against a mkt cap of £54m in May 2018. The share price has to be aligned with the number of shares in issue to get the Company's value.

I was just about to post that my figures do not include intra day highs, so for the sake of the original exercise what I posted is pretty accurate.

If that is so then my figures are largely meaningless. Could you please post a link to verify your figures.

As far as I can ascertain the shares peaked at £3.07 around April 2017 and there were just over 9.95m shares issue, thus the mkt cap was circa £30.5m.
After the side track discovery the shares were trading at £2.92 on 13th October 2017 giving a mkt cap of £29m.
Post the share placing and offer on 20th October 2017 the shares have peaked in May 2018 at around £2.48. With now just over 21.8 m in issue that gave a mkt cap of £54m. The current mkt cap with a share price of £1.70 gives us a market cap of £37 million or slightly over 30% below the peak. So the current mkt cap and share price would have to rise by about 46% for us to reach post Verbier discovery highs. I believe the calcs are correct and I've taken the share prices from a couple of historical charts.