Member Info for oogleflugal

They've been producing for years, about a pint a week. Then they down graded to half a pint and flogged it. they still produce a droplet or two down in hampshire, but its so small I dont think anyone bothered measuring the amount. However there's thought to be bucket loads in the Adriatic and Gyan. Yes definitely exploratory. I would say mainly theoretical.

Hang the expense lets break open a soda water!

They were'nt the end of the day, or even today. Thats what makes the whole picture so confusing. Large trades are usually published about an hour later, as in this case a whole ay later. Sometimes they are not even all that large. They may even have been buys. The main thing is we are drifting upwards slightly. I don't think it is just about imminent news on Gyan either otherwise the others would be going up too.

Norway update. Plugged and abandoned well in Norwegian field. Must be their longest loosing sequence of unsuccessful drills. Hope that's about to change or we'll be taking on their share of Gyan too!

that this current enthusiasm is down to the Daily Pain. Do their readers normally buy 100,000-500,000 shares on news paper tips written by clueless hacks? More likely they got a tip from a city friend who got the nudge from somewhere, while the honest gullible long term held to ransomed shareholder, ( obviously I could'nt use 'loyal' that would be more sarcastic than Jeremy Paxman) is the last to know what particular plot is hatching.

fortunately I was desperate enough to top up in low 30's. Still need 80p to break even, gawdy lordy and bxxxxr Musser

multiple trades of 500,000 last week as sp retreats. no rns and the sp leaps 23% monday morning. dodgey

How much it could go up if they actually sold some oil and gas!

off. I can only guess without rns requirement, that these trades are swappsies broker to broker or some such transaction, otherwise the sp would be round are ankles. O yes that's where it is! Must be something going on with WSx being the only one of the gyan partners and least able bodied to see its share price rise dramatically. The only news from them being they cant afford to go on.

some kind of merger deal perhaps. Hardly need two boards for the tiny stake in Gyan. Lump all the uk assets together and try and flog them that way.

down the pan. Someone is running scared. Maybe they are going to buy out wsx, who are up 15%today. Would make sense. By the time they get round to developing Australia the dinosaurs will be back!

Its amazing someone managed to offload half a million @ 32p this a.m and then the stock rises 2p! My feeling is aim has been bad for too long and can only get better now.

FLASH: Goldman Sachs retains neutral on Northern Petroleum, target cut from 303p to 267p 14 October 2013 | 10:55am StockMarketWire.com - - See more at: http://www.stockmarketwire.com/article/4686504/FLASH-Goldman-Sachs-retains-neutral-on-Northern-Petroleum-target-cut-from-303p-to-267p.html#sthash.SMzHt66b.dpuf erm, what planet are they on? and how is a valuation 8 times the current sp a neutral stance!

having carefully considered funding alternatives, (i.e. there arn't any) The combination of ongoing well costs in Guyane during the second half of 2013 and a recognition that the analysis of the results of drilling and the interpretation of a new portfolio of prospects in the Permit will not be complete until the second half of 2014, gives rise to a potential funding shortfall next year. This has led the Board to conclude that action needs to be taken now to ensure that the Group remains appropriately funded throughout the whole of 2014. It is critical that Wessex is able to benefit from the value creation that we expect to be generated from the identification of new leads and prospects in Guyane, particularly in the Central Area. I think we are being too good to them!

it is a gun to head situation! The terms of the Northpet shareholders’ agreement signed in 2008 allow either party to elect not to fund its equal share of the costs of the venture at any time. In such circumstances the other party would have to fund the shortfall to avoid Northpet defaulting on the Guyane Permit and in doing so, increase their equity ownership of Northpet. So basically wsx are broke and we could have to keep funding their share and thus acquire the whole company by default!

how te partnership is structured but I dont think it would be a gun to nop's head deal if wsx defaulted. More likely wsx simply don't have the cash. We do! and would guess with some reluctance wsx are having to honour the terms of northpet partnership. The very least nop should double the £1.5 million. But on just the wsx offer from total its got to be worth £3.5 million and if the next results are successful we can probably double or treble that. Not a bad return in a few weeks.

Northern Petroleum will increase its interest to 1.4% in the Guyane Maritime permit, offshore French Guiana, as a result of JV partner Wessex Petroleum's decision not to fund its equal share of costs in the Northpet JV (presently owned 50-50 by Northern Petroleum and Wessex). By electing not to fund up to £1.5 million (US$2.4 million) of current and future funding, Wessex's interest in the JV will reduce to 44%, while Northern's interest will increase to 56%. The NorthPet JV owns 2.5% in the Guyane permit. This is even better than what I suggested last month. Because our cash position has increased at a crucial juncture in the development of Gyane and possibly difference of opinions between wsx and nop we have now become the senior partner in norpet. Effectively I would guess wsx want to retain some interest, cant afford to go further so for the price of their share of the next drill NOP have acquired an extra .4%. Doesnt sound much but that outsmarts Totals offer and is probably the best deal NOP have done in ten years. Neither the brokers or the market seem to see the significance yet. I'm shaking out me piggy bank now!

Does this mean that from now on, when they something is going to happen its actually going to happen

Rather than sitting around waiting for somebody else to take the company forward we are now seeing somebody get in the driving seat and opening up the accelerator. The market looks a little unnerved possibly by the current lack of income and the wide spread of activity all of a sudden after idle inactivity for years. Musgrove was obsessed with not upsetting Shell but unfortunately did not have the same consideration for his shareholders which is why we have been shunned by the city thus far. Any other oil exploration company with this amount of prospect would have sewn up deals and had offers coming out of their ears. The fact that we have no borrowing with a low number of shares in issue is a good position to be in at this juncture. Sounds like Gyan has away to go even if the next well proves successful. Even so it could prove up enough value to enable Nop to proceed on its own in its other ventures or get substantial backing. Cautiously both relieved and encouraged, but as Mr Bush says this is a five year plan!

More insight into the current situation and future plans. Waiting on one signature for the Italian southern adriatic permit, where we have two proven systems apparently. Considering the hundreds of offshore wells we encountered in the north, I cant see what all the fuss has been about. Still valuing Gyan at 75p, so another strike would be very useful. Canada likely to produce 1st quarter 2015 so I guess we can add another 6 months to that at least. No more about the mysterious Markwell. So all the usual jam tomorrow or maybe even next month!lol