Member Info for Oiltdr

Until they announce how they finance chudditch or report a new asset there’s nothing else to say here. Financing will either make the company or end its investment case. It’s that simple.

My opinion is the same as before - the PSC will be extended and managed. The government can’t afford one of their key partners to be treated badly when they are trying to build trust in their industry.

The risk is equity wipeout not loss of the asset. That’s my major confer and why I’m very keen for them to capture a new asset

Hits a serious award - great news

A good funding deal deal that doesn’t involve CLNs is worth delay but to be clear I don’t think logistically they could drill in April now if they wanted to. What ever the next progress uodate contains I think it also comes with a delay to the early Q2 timeline unfortunately.

Not quite - if my guess is right and they have made an application (no guarantee of success) in a certain bid round at this rate there would be a very real possibility of an announcement on a new asset first.

I don’t know to what email you are referring.

In fact what he said on screen is broadly the same as I stated below. There is no difference in specificity.

But by your definition he has released price sensitive information to a broadcaster without putting it in an RNS.

He actually hasn’t breached the listing rules for AIM at all for what’s it’s worth but I’m just wondering how you reconcile it?

Listen to his interview with proactively two days after the announcement

Well it’s funny that filthy as this evening I have been catching up on all of the interviews AB has done in the last 6 months and as it happens he says broadly exactly this in similar terms in a video interview - are you going to report him for not putting price sentive information (your words) in an RNS ?

UID guess because it takes 6-7 months and they only got started in earnest at the back end of the year !

If you speak to AB he will tell you partners are keen to farmnout out asap to a major within the view to drill (likely 2 wells). The quality of the data pack and mapping they already have is enough to do so. Simply as first phase minimum commitment onky requires seismic doesn’t preclude them from doing so. Ask as I have.

the flip side here is that notwithstanding chudditch two brokers value on a risked basis the discovered resources and upside in the phillipines at 0.14 and 0.16p alone. i think they will crack on and farm this out for drill by year end and they will want to drill the massive but relatively low risk prospect at halcon.

if they get the asset i have a suspicion they have applied for the share price will do4x to 6x within weeks.

chudditch they becomes a **** to nothing.

We are keft with the hope that this is too strategic for the government to let Sunda flounder - bu t the fact is subda can fund the drill but just at a huge cost to shareholders. They may ask for an extension and spend the next 3-4 months negotiating with farm in partners given the alternative is punitive.

Because larger players want operatorship and a minimum of 35pc and it’s a new territory for almost all players which is higher risk. And we don’t know the state is willing to - it didn’t last year so why should it now.

The environmental impact assessment has t been signed off as currently they can’t prove funding. The rig co tract hasn’t been signed as they can’t without the certainty on the former. They will not now be able to deploy the rig by April or may unless it’s immediately available and in the vacinity.

There’s a lot riding on this.

*hoping to announce

The drill is a national imperative so it will go ahead with or without delay. The onky question is whether the state comes to their aid or forces them to use their CLN backstop and dilute all the equity upside out of the stock.

They will be going to announce an award of a development ready asset in the near term but their funding position is precarious.

That’s very unlikely here for any number of political and commercial reasons.

They were onky in very early stage discussions as of Q4 and there is very little chance of a deal completing in such a short space of time. There’s two options in my view 1) the state steps in or 2) the CLNs (disaster scenario).

Lol

One way or another we will get an insight in the next 3-4 weeks - they run out of cash in the next 6 weeks.