Member Info for oilriches

My understanding is that they are pursuing gas to hit low carbon targets. Are targets seem very well advanced compared to other plays Shell are in a JV with

Deltic seem confident and they obviously know what’s going on. They keep talking about it so you would think it all pretty concrete. There is only one other oil exploration company trading at cash....chariot oil. However they have a history of failure and no jv partners and assets in Namibia and Brazil where there has been no interest. They were capped about £250m 6 years ago with BP. Eco is another that had JV with shell and practically 7 bagged.

£56m would be 4p. Minus cash would give an enterprise value of £46m. Given the quality of the partner, assets and PF potential- I think this is conservative. There is no direct comparison on aim tbh and a few more farmouts by end of next year could make this very interesting. In a decent environment these could easily be a £100m capped company

It can only be withdrawn by shell for technical issues. We know the structure is very clear on the recent 3D interpretation but technical risk will lie with trapping and reservoir quality....the only way to establish this is to put a hole in the ground

If we get the well commitment, I can see Delt at 4p+ pre spud next year

Mike. The market does not seem to want to price this in. On committed well decision we would be at 2p

Exploration. Do you see shell drilling Pensacola next year? I am hopeful they will confirm this in November. I suspect they can only pull out due to technical issues and I believe the 3D results are looking fairly positive

http://tinyurl.com/y6jwnzgu

Happy to wait here after exchanging emails with company

I will take them sells out now around 0.85

I took another 3.7m today

I think u are correct a seller in the background

0.85 4m

Ltdaxis thanks for message. What average do you have?

Tempted to sell my £20k today and buy back when it settles.....no doubt this will come good

Getting out again today

They will be looking at funding now....

Strange price action. I am waiting to top up tbh. Oil price falling and market looks on a cliff edge

Being worked. Can buy £50k in one chunk

I get the frustration here now. £1m spent in admin since the turn of the year. This cost saving at 25% is nonsense at a run rate of £2m spent a year on G and A