Member Info for offtheball

Another day spent clutching around looking for any remaining ker plunk straws.....

How do you know Zone 9 was added at T-45 around 6 weeks ago Retireby40 ? What happened to Zone 13 to be reported to the market in due course ?

Also, The 60-90 days time frame for Dino-2 was updated in the RNS 21st May to approximately 60 days testing making it two weeks behind T-45 ( 7th and 20th July respectively )

It's obvious by these estimations of dates that we shouldn't be expecting an update regarding Zones 9 and 13.

Infact, It seems we are privy to any confirmation regarding Current or Future plans, Oil sales, YA Payments ect.

But hey, No need for anyone to be disgruntled or unhappy. If you are, Why would you still be invested here ......

I'd take that lordlash, I'm hopeful we aren't on the recieving end of a golden shower.... Hopeully next week will see some movement 💤

I have to admire some on here.

It's similar to a game of Ker Plunk.

Not many straws left to cling onto now......

There is no payment from a hedge fund taken place as of yet.

Pursuant to the agreement, the investor will provide up to $3 million investment, to be disbursed in two equal tranches by 1 September 2018 and by 15 October 2018, respectively, in order to fund the Niko-1 well work program to be commenced in November 2018.

The company want to adjust the deal payment to fund the drill going lower to target more zones.

Not been any confirmation that this change suits the hedge fund.

Again, We wait for an update but you would think that needs to be tied up soon as we are only 21 days from the 1st September.

The last Minute round up from the 121 podcast in December 2017 certainly wet the appetite. I fell for it, Hook, Line and Sinker and jumped in more than I should have along with previous holdings and PB purchases along the way ( Understandably my fault, I was sucked in ).

' When it comes to gas, At the moment we are connected to a national gas distribution grid. This is where we are selling our em crude oil.... from at a pretty robust gas prices at $6.50- $7 per thousand cubic feet. And once we complete testing in next 2-3 weeks, Couple of weeks actually, We are going to connect it to our gas processing facility and immediately start monetising gas that we produce. So this is all I wanted to tell you without any spin today.'

Two weeks away from connecting to the gas processing facility after a duration of testing to seven months to plug and abandon UD-2.

25th July 2018 - Core Finance Podcast

' In Two / Three years from today, We will be producing probably 10,000 bopd+ of very light sweet crude oil with a lot of associated gas production.'

So, The shareholders could be expecting profitability from the company by that point in time ?

Absolutely, Actually we are turning ourselves to a profitable venture towards the end of this year and with the successful testing which is going on right now with T-39, We have successful test at T-45 and the Dino-2 well as well.
Those wells are flowing again commercially and what we see is that we clearly see development here and the simple well for example as I said a minute ago in Taribani is gonna look like, We will be completing in Zone 19, That we have 15, 14, Zone 9 and these wells will be producing over 1 million barrels per well over the time of the life of the well. '

That's the reason i don't like podcasts and prefer official news releases. As I've said all along, Failure isn't my issue here. Transparency is what is missing and I don't believe anyone can doubt the lack of trust I have.

I'm not too sure this can be classed as novice......

Your not being serious are you ? Your constant ramping is obvious, Presumably you've jumped ship looking for a quick buck ? lol :-)

woooosh......

What's to say they didn't buy in at the 4 or 5p region ? Are some really that naive that they don't understand we need buys and sells to make the market ? Some would take 10-20% as good profit never mind touching 100%.

Just a thought !

Thanks for the reply Silas

Do you see this as a positive silas ?

Think most have come to the conclusion we need T-39 included to make something of the T-45 and Dino-2 results.
Others have thrown it out there that we'll need Niko-1's contribution to hit the 1000bopd end of year prediction.
We are looking for a minimum of 6-700 bopd combined from T-45, Dino-2 and T-39 don't you think ?

In the meantime, Something that builds some positivity ? Oil revenues, FRR Express leaving the station again ect.
That will be in the half year results at the end of September I suppose.

This really is brutal at the moment. GLA

We really need a release of sustained positive news flow to get this moving. I really hope we aren't waiting on the sidelines for news from the three wells to be released in one go.

That's not going to build any real momentum here, We all know that.

The only leakage on view here is from underwear ffs.

To date, YA have received $265,000 of the $3,180,000.

They have also had the 10,000,000 shares.

Of the 2891 Series A shares, YA still have 2650 redeemable to our knowledge.

Corporate Finance Update - 19-07-2018

As announced on 7 June 2018, in accordance with the agreement entered into with YA II PN, Ltd ("YA"), the Company redeemed 241 Series A convertible, preferred, redeemable shares in the Company held by YA ("Series A shares") for the cash amount of US$265,000 (the "Redemption"). Following the Redemption, YA holds the total of 2,650 Series A shares.

Thanks commy, Not like me to get a figure wrong lol. It makes some sense now. I was getting lost with how many $265,000 payments had been made. Being due from 16th June 18, I was hopeful we would be paying the third instalment in August. The financing update threw that theory out the window as it's written in July advising of a payment but in true frr style, No mention of a redemption date to help us moving forward. 12% for finance isn't great but very little else would be available to the company. Really hopeful of a carrot soon..... GLA

07-06-18 Financing Update

The remaining 2,891 Series A shares with the redemption value of $2,891,000 which are redeemable on 16 JUNE 2018.

Corporate Finance Update - 19-07-2018

As announced on 7 June 2018, in accordance with the agreement entered into with YA II PN, Ltd ("YA"), the Company redeemed 241 Series A convertible, preferred, redeemable shares in the Company held by YA ("Series A shares") for the cash amount of US$265,000 (the "Redemption"). Following the Redemption, YA holds the total of 2,650 Series A shares.

My Understanding of the YA Deal :

$265,000 x 12 = $3,180,000

+ 10,000,000 shares at market price on or around 14th June 2018

10,000,000 x 0.004140 ( Price 14th June 18 ) = £41,400 / 1.31 = $31,603

$3,180,000 + £31,603 = $ 3,211,603

$3,211,603 - $2,891,000 = $320,603 to YA

Firstly, Have I got this right and when was the redemption date ? Have we only made one payment ( July ) ?

I'm trying hard Coggy, Do you know what the craic is ?

The testing of T-39 well was expected to commence on 1st July 2018.

Does anyone know if Zones 9, 14 and 15 of T-39 well in the Eldari A were to be stimulated like the other two wells ?

Also, Eldari B - Zone 19. Am I right in thinking it flows without stimulation ?

lol

Fairly evident something suspicious is going on in the background.