Member Info for NorthernMagic

Thanks for clarifying re 16-2 THE_CHAIN. I thought they were having to get permission to allow more flaring and that this was the reason for the hold up. Hadn't appreciated there wasn't going to be a production test on this one.

So, back to looking at some good news re the production test resumption on 36-2 ....

Atb,

Northern

Will absolutely learn from this is not to make this mistake again - both for their credibility and to minimise delays. When they first started drilling they praised the speed of their drilling team - so they will not want to go through this exercise again! A couple of things I haven't got my head around is why no further progress 're well 16-2 I thought the groups they were linked to wanted quick progress and also why are they not looking at the drilling of another well - not enough free cash in the bank at the moment?

I 'm a big supporter of the company but cannot see why they are not pushing forward on a number of fronts to take pressure away from the focus on 36-2.

Atb,

Northern

There is some positive news next week.

Atb,

Northern

The company at this point. The drilling later in the year in Argentina where Molecular were going to drill on their own is a large resource which could have made the company a lot of money(and shareholders too) a bit sad really - will have to check what is being sold in the prospectus.

Atb,

Northern

Hopefully they have made good recent progress. I would have also thought they would want to get back to a positive news flow to reverse the sp's trend. One thing that seems odd to me is that they haven't announced anything 're well 16-2.

I thought they were asking for permission to Clare more and had an issue with salt but you would have thought they would have also wanted to make progress on this well as well as the obvious emphasis they have put on the 36-2 well.

Atb,

Northern

Given all the delays in the past it wouldn't surprise me if the drilling only started in say February or March next year. I wish I could be proved wrong but to me the only real proof is when the drilling starts and I cannot see this happening till at least the end of the year.

Atb,

Northern

An upturn in Zephr's fortunes. Been quite a bit of chipping away at the sp over the last few weeks and will be good to reverse the trend and to get the value of the sp at a much higher value.

Atb,

Northern

Might start trading again - sometime in September ir possibly October?

Atb,

Northern

For your recent posts. It sounds like there isn't too much at the moment to be concerned about on the contrary, if we get some news in the near future it should totally transform things.

Atb,

Northern

Thanks Stebol,

Much appreciated. Yes, I suppose behind my question was trying to understand when things will fundamentally change. Let's hope that next drill comes in good. Had quite a few disappointing ones so far.

Atb,

Northern

What the implications of Falcon hitting the completion of the Farm-out carry. Does that mean they cannot participate in future drilling? I appreciate Falcon have cash in the bank but does that mean they will have to be selective now in terms of which drills they can participate in. Also does it imply a future fund raise might be required.

Been waiting quite some time now for the JVs to prove the concept and to get the acreage valuations up and hence the sp.

Atb,

Northern

Where steven49 is coming from. As far as I'm aware he sold his shares in this company some time ago but constantly comes on to the board with comments about the poor performance of the company. Admittedly the sp is low but I believe it is undervalued - Argentina production has now steadied the shop and there are still some potentially good drills and other prospects to come.

Am I being too positive? Or is there not much potential here now?

Atb,

Northern

I thought in a recent RNS they said they had a mass of 3D data that they would be assessing and would have a result towards the end of the year which might include a reassessment of resources. Sounds encouraging to me.

Atb,

Northern

If you search Proactive Investors for President Energy there is a good article about Martinez del Tineo from around January 2012!

At least now the drilling is slowly coming back on to the horizon.

Atb,

Northern

Yes, I think that's the case. I'm hoping the increased volume means that the sp will ratchet up and move higher albeit with the odd dip. I very much thought that might be the case today. However time will tell. I think it will prove a very interesting run up to the end of the year - hope we get some encouraging news flow to help with the volume along the way too.

Atb,

Northern

I believe they are going to drill Martinez del Tineo towards the end of this year. Formerly they were looking for a partner to drill this but now are going it alone and I seem to remember it's quite a sizeable prospect.

Atb,

Northern

Things work but to me it seems that recently we have had a lot more volume in buying the shares compared to sellers. Today it looks like there has been profit taking after a quick rise in the sp. Hopefully others who buy in now will be hoping for a more medium term price gain before selling so, hopefully this will mean a further price rise before sells outweigh the buys again. Moreover, news soon might help that volume increase further. Fingers crossed.

Atb,

Northern

Upwards in the sp. I'm presuming more people are starting to realise that Tanzania needs the gas, Ara want to start drilling soon.

I suppose the key thing is getting the infrastructure in place then the drilling can commence.

As far as I'm aware we are talking of drilling starting at the back end of 2023 or early first quarter 2024. So, still some time to buy in and hoping the upwards trend in the sp continues.

Atb,

Northern

News soon. It seems a while now and it will be a good idea to get an indication of what sort of figures we are looking at. Possibly by the end of August we will have some news. It's at times like this I remind myself of the daily non-op revenue which all helps and which we have also been promised more off before the end of the year.

Atb,

Northern

Totally agree re this board going down hill, especially at such a potentially successful time for the company. Fingers crossed for good news for all of us and success in the not too distant - meanwhile, sadly I'm going to ignore this board for some time as nothing of interest and or proper debate doesn't seem to be happening here at the moment.

Atb,

Northern