Member Info for NorthernMagic

Hi MTucker,

I'm expecting a bit longer than next week re the starting of testing - possibly the week after but would be a nice surprise if it was next week(Thursday/Friday?).

Atb,

Northern

£12.28m I'm thinking at some stage there just has to be an upward correction, as long as they can get a few decisions right and build on that. For example the Paraguay drilling actually starting in August would help, as a starter.

Atb,

Northern

Re this company not having the correct operational team in place. Possibly this was aimed at the failures of the equipment resulting in where the company are now at with 36-2. It made me think though considering the company is earning so much money from the non operated assets and also has so much to gain from the Paradox then if there are such deficiencies I'm sure it will not be long before those are resolved. The importance of that being better expertise in use as the Paradox project and other decisions made going forward.

Atb,

Northern

Good news that there hasn't been more of an increase in the sp. Possibly it will only start to move up when gas starts to be produced and sold. Time will tell and it will be interesting to see what the sp will be at year end.

Atb,

Northern

Thanks Cp,

Very good of you. I keep asking myself, Is this drilling at last going to happen?

Such a long time we've all waited but things seem to be coming together really well now.

Atb,

Northern

Sounds great,

Hopefully someone could p provide a summary for those of us who didn't attend.

Atb,

Northern

Thanks for sharing StockCheque and yes that would make sense. Not sure how the bidding process would work though 're Aminex having to find funds for their share of the bid?

Atb,

Northern

Some time away but when Aminex do start to earn revenue to posters here envisage they will start to use the revenue to diversify away from Tanzania and have a more diversified portfolio?. Possibly this will require additions and expertise adding to the board to do so.

However, first things first.

Atb,

Northern

Wouldn't have used the word imminently. LTH will know what I mean :-)

A bit of slippage in timescales but encouraging 're the long lead items and the optimal choice for CH-1.

Fingers crossed for future progress. It sounds like the relationship between AT A and TPDC is working well.

Atb,

Northern

Current doubts are about production delays. Presumably once the company starts production and selling from the production those doubts will go away. A few great things about this company are that day in day out they are getting revenue from non operated production and it also sounds like they have added further acreage too. All good - just need to get the production moving and to start sales.

Atb,

Northern

Losing confidence because of the delays. Personally and we all have our own view I see this as all being relative. If another company was in a similar situation wouldn't they be doing the same and putting safety first and ensuring they get to the point when they can commence and complete the test. Others might say another company would not have got in this position that's theorizing and we are where we are. Compared to some companies and their abilities to make decisions and implement them I don't think Zephyr are doing too bad.

Time will tell but hopefully if we get good results the sp will respond accordingly.

Atb,

Northern

If they can learn from these 2 wells and start production at a decent rate I think the sp will be on a different trajectory. The company will then be able to get back to it's drill and invest strategy and move forward really well. The second half of the year will hopefully get the sp moving again and see lots of things call into place but first things first want to see the test results and to move on from there.

Atb,

Northern

Thanks Womo,

I wasn't sure if I had missed it.

Atb,

Northern

And I'm sure we were told in an RNS that we would be informed when testing at 36-2 was to start again and I think they were hoping to start at the end of June. However, I can't remember seeing confirmation the testing has restarted. Can anyone confirm it has restarted ? I was hoping to see test results by the end of July.

Atb,

Northern

Be a good update with lots of news at the AGM. I and more importantly the market don't like silence and have seen this a lot before with this share when there is no news and the sp drifts down. Hope that news next week will reverse that.

Atb,

Northern

Recently on this board but it does seem odd that there is independent messaging being given by Tamboran and Falcon 're Amungee H2. Given they are partners you would expect a more coordinated consistent message.

I just hope like other drills and follow ups they are not putting more money in without there being a result. It isn't obvious, though I assume it is the case that Falcon are also putting money into the clean up and re-test.

Atb,

Northern

Drilling is that I want to see successful drilling results. The last well promised a lot and they said before testing they had all the right things in place in terms of expertise and strategy. They got it wrong and seemed quick to identify what went wrong but it makes you think with all this expertise why do they keep getting both the choice of drill and execution wrong.

My simplistic view is that with so much expertise involved you would expect better outcomes and more predictable ones - this is what concerns me - it always seems to be a case of - it will be the next one that comes good.

I think only when they can get good and reproducible results will the confidence return and the sp move significantly upward. In the mean time we have to wait - again.

Atb,

Northern

If you don't post a post like that every two weeks I will!

It might even coincide with some great test results!

Atb,

Northern

Following the increase in Friday and as Zephyr hopefully move towards good production test results. Once testing is completed will they be able to transport some of the oil and sell it on the market? Would be good to get some extra revenue being added.

Atb,

Northern

Could you please repeat this post every couple of weeks Craigb - increasing the sp by 0.5p each time? Seems to have worked wonders today - I think lots of people think the same :-)

Atb,

Northern