Member Info for nutsy2012

I don’t see any Tier 1 farminee committing to fewer than 10 wells tbh and I don’t see DW giving away more than 70pct so in my eyes it’s down to how much cash we get upfront for costs and I think that might be higher than many people think. It’s all supposition and conjecture at this point though.

I hold 2.677m shares and I’m going to take 750k of them off the table at 5p or better. The rest I will let ride to the very end, whatever that ends up being.

It must be a Tier 1 because DW said they were starting with Tier 1 potential partners and working down from there. There has been no RNS to say that they couldn’t agree a deal with a Tier 1 and therefore it must be a Tier 1, no? If 88E had to abandon talks with a Tier 1 then surely they would have had to RNS that? That’s my logic on the status of our FO partner.

I’m not sure why all the pessimism here. Why would DW settle for a paltry $10m plus a small free carry after a year’s negotiations? And before anybody says anything, Yes we were in a good negotiating position and it is NOT a fire sale. DW specifically said ‘transformational’ and 1p is anything but. I still think our Tier 1 partner will pay circa $100m to secure a free run at 2bn barrels. I still say we are looking at 5p on the FO deal details being announced but WDIK? Don’t forget that DW needs 3p per share under his incentives package as well so I see that as a bare minimum.

It’s looking more and more promising by the day. I do expect an RNS next week and I don’t see why full details won’t be released at that time. My 2.677m holding is looking like a solid investment but let’s see. I still think there will be a substantial cash element of around $100-150m which should push us into the 7-8p mark but again nothing is certain.

At the risk of sounding ‘rampy’ I do wonder why it has taken so long to finalise this FO. Just maybe it is more juicy than first thought? Now that would be nice... come on DW it’s over to you. Like many I do have an exit strategy but it could all go to pot if the FO isn’t straightforward. GLA

It’s all in the detail... IF we get a large cash sum, minimum of 10 wells funded AND retain at least 25-30pct then it’s possible. We just have to wait. GLA

10-15p I would regard as transformational but we need the details of this FO to get anywhere near that. Aside from anything else this FO Deal will also provide the market with enough info to attribute a value to the next one. If it’s good then the sp will rise accordingly. Come on DW let’s have those details this week...

The correct process is that the documentation is signed and legally binding, subject to the CPs being met. So it goes Sign, then CPs, then fully legally binding, then transfer of WI.

To be precise there are CPs (Conditions Precedent) as well as Conditions Subsequent in some cases. Let’s just wait for the detail and then we can discuss in greater depth.

For crying out loud spinefx stop making up crap!! You have absolutely NO evidence of a trip or a CR whatsoever! Stop lying.

Got an idea we will hear the details over the weekend. With the right terms 10p all day long. Anything where we get cash over $100m, a free carry on drills and retain 20-30pct will do me just fine.

Surely we have to breach 1p today??!!

I couldn’t agree more minskd. Why would DW deliberately use the word ‘scheduled’ instead of ‘anticipated’ or ‘expected’ if it’s not a pre- planned event? I think the announcement will come late this week with some kind of signing ceremony next week. 5p+ all day long imho

Another blue day ; long may it continue. Same as everybody I have an exit price strategy but clearly not going to post it on here. I have a sneaking suspicion we may get an update on another part of our portfolio (Yukon?) before the FO announcement but I’m more than happy with progress so far. GLA

It seems that finally we have some volume and upward movement.... not before time imho Could we see an RNS as early as this week?

There have been a number of announcements and presentations with phrases along the lines of “we have opened up the data room and will proceed with tier 1 companies initially but if we fail to attract a tier 1 company we will extend it to tier 2 companies”. They have not said that they have extended it to tier 2 companies as far as I’m aware but they have confirmed that they have a preferred bidder and are proceeding to an agreement and therefore it must be a tier 1, no?

Depends on what your definition of a rocketing share price is... from under a penny to 5p would certainly fall into that category but it’s all down to the terms and which tier 1 Partner. I’d be more than happy with 5p per share. We are in June so all will be revealed very soon. Will FOMO finally kick in this week? We can but hope.

Put very simply we do not know who our Partner will be, only that it is a tier 1 Company (yes we do know that). That in itself should be all the reassurance we need as shareholders. I may have been a tad optimistic with my “$400m cash 20 well” prediction but I’d be more than happy with half that. If we assume that this comes off then I see 10p in fairly short time. Still holding 2.5m here but no funds to add unfortunately. I have it all sheltered from tax, 1.1m shares I can get to immediately and 1.4m I can’t, which will make it all the better when the RNS comes out.

Spinefx - you clearly have absolutely no idea what you’re talking about and haven’t read any of the last dozen RNS Announcements. Once you’ve done that come back and try to put together a cogent argument. I doubt you’ll bother. Filtered.

Perhaps my $450m cash/20 Wells funded/30% equity retention deal won’t be that wide of the mark then? And with a $70 a barrel oil price we could see near 10p per share on announcement in a few weeks. Ultimately the market still doesn’t really know how to value 88E so this farmout should provide clarity if nothing else. One can but dream... GLA