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People who doubt? Some of us have been invested here through all the dusters. I think we are justified to doubt. Bl00dy Johnny come latelys preaching about doubters. For the record, if we ever find oil it will be all worth it but its a wing and a prayer.
I'd take a farm in with a 15% free carry right now. If we don't get a partner and fail (again) to find commercial oil we will be well and truly up a gumtree. I've posted before about the lack of partner. Something doesn't add up. The prospect has been independently certified so why are none of the majors on board yet? Are CHAR driving a hard bargain or is it due to our previous failures?
When were they shafted? I think you'll find that they accepted any deal that was on the table. Anyway, roll on spud. If nothing else it will be interesting. All they have to do is find oil. How hard can it be ffs???
Farmout or not, the drill will still happen. However, the data room has been open for donkey's and nothing concrete yet! If you read my last post about Prospect S you will see my concern is about Cormorant getting a partner with a much lower COS and similar geology to our prospect. Just makes me wonder if our previous failures to strike is putting off the majors. But what do I know?
You may not be interested in the history Belisce but other potential investors are, hence no forthcoming farmout to date. I agree the next drill speaks for itself but the lack of another partner will force us to go it alone, but that was the reason for the fund raise. This at least protects any future funds for other commitments. Unfortunately no farm out may mean the sp remains low in the run up to spud. That will sort the men out from the boys and the other shareholders that are still feeling the pain will have to roll the dice again. Personally my average is 13p but I'm not interesting in derisking at anything less than 20p. I'd rather take the gamble again. After all, 29% is high. GLA
Seems like the board is in meltdown tonight. Cormorant prospect drill on the horizon with a lower COS compared to us. Kinda makes me wonder why the big boys haven't joined our party. Any thoughts? Are we toxic due to form or what?
I don't get it mate. We have a prospect that has been independently verified. I'm sure we are in negotiations but are the interested parties waiting to see what happens with Tullow or is Larry weighing up the options? One thing is sure, us minions will be the last to know!
With no farm in or positive news I fear this is just going to float along until we drill. I hope I'm wrong because I'd like to derisk this time. If not, it's boom or bust for me again. The silence is deafening from HQ.
Everyone jumping on the train expecting it to leave the station? Still a snip at these levels mate. I expect more rises in the coming weeks. Good news will help us kick on. Will anyone farm in before news of the Tullow drill? Who knows...