Member Info for NorthernMagic

Yes Banburybiy, We've been waiting for quite some time now so a couple of weeks in the grand scheme of things not long.

What I'm more concerned about is whether they can show they will be able to accelerate progress afterwards. In my mind the more they can accelerate the faster the sp will move and vice versa.

Atb,

Northern

It might not answer everyone's questions but by then surely the will be in a position to give a good update as they will have been working on all the items on their agenda for some time now. If we get the update and there hasn't been much progress then I think we can start to question the speed of current and future progress.

Atb,

Northern

They are going forward and have ended their search for a company to buy them out. Given increased oil prices and their model that seems to be to buy percentage interest in some very successful fields and they have an ongoing drilling program then all sounds good for a very exciting future.

Atb,

Northern

Thanks Adon30 fingers crossed.

Atb,

Northern

See the posts on 30th April on this board.

Atb,

Northern

I believe someone said a little while ago there is a yearly update some time in .May - so I thought we would hear something in the next couple of weeks.

Atb,

Northern

Maybe in the next two weeks. Will be interesting to hear what progress has been made in the last couple of months.

Atb,

Northern

Looks really encouraging and hopefully if things go as expected we will get some good if not excellent results within a year. As any project goes there is probably going to be some slippage but so far progress is going really well. News soon about the confirmation of the rig too I assume.

So far, so good let's hope it continues that way.

Atb,

Northern

It's getting a bit wearisome waiting now. There has been a lot of positive talk in the past just hope they can match that with some quicker progress than we have currently seen going forwards.

Atb,

Northern

Purchase of the additional acreage is to take place. Have lost track of this one and it was on Zephyrs priority list to get done.

Hopefully news soon with a good progress update.

Atb,

Northern

Dormant share then suddenly over a relatively short period of time it took off. I'm hoping that the same will happen with Zephyr and the management will be able to attract the right partners to get them there. Fingers crossed and hopefully news soon.

Atb,

Northern

I get frustrated as well but I can only assume that they are making progress behind the scenes and we will eventually! get an update that brings us up to date with where they are up to.

For me now I want to hear about production starting. What would concern me is if they don't announce a partner to accelerate development as it's no good having the resources in the ground if it takes forever to drill and turn into income.

Atb,

Northern

I hope so but my gut feeling is not yet. I could well be wrong but with only having received a recent RNS I think possibly will be by the end of May or whenever we receive the next RNS whichever comes sooner.

Having said that the volume being bought seems to be increasing, so it might be earlier than I think.

Atb,

Northern

Buys going through today - a number of 500000.

Looking forward to further progress and updates as we move through the year.

Atb,

Northern

Very odd. At first I thought it would definitely be a buying of shares RNS given where the company is at the moment. He must have needed the money for something. Would be good to see other directors making some purchases soon.

Atb,

Northern

Haha,

Some times I say these things and there is an update the day after! and it is a Thursday.

Atb,

Northern

Do people on here think we will get an update by the middle of May, or more likely by the end of May . Whichever it is by now they must have substantial progress to report - it's been a while.

Atb,

Northern

I also seem to remember someone said there was a report due by the end of this month 29th?

So maybe not long to wait. It's always good to get positive news of progress.

Atb,

Northern

And Aminex say they will shortly provide a further operations update so hopefully it won't be long before an update on the pipeline progress and other operations re the well sites.

Atb,

Northern

I think the relatively close part is difficult to answer. I sincerely hope that is the case and Zephyr soon have everything in place to make that happen.

In terms of the JV question I think that would change things massively - but at some cost whatever that is eg % of production, shared production costs?

Zephyr in my opinion have got over the first hurdle and have learned a number of things from that but they need to bring in an established partner to work with and have a proper plan to develop the project - number of wells etc

Atb

Northern