Member Info for Pdub

AEMarsh yes that was rather bad tempered wasn't it? Calm down. And if you think I am "... pointing out the bleedin' obvious... " that is fine with me. However this is a bb and it is my right to post on it, particularly when I read negative post after negative post about an investment of my hard earned cash. If you don't like me countering the negativity I will certainly not lose sleep over that! And I will continue to do so. If I am guilty of "...pointing out the bleedin' obvious..." then it is a shame that it is necessary. I probably wouldn't post at all during this waiting period if negative posts weren't dominating the bb, but as long as they are then I will continue to provide a positive counter balance. I will certainly not be bullied off this bb just because people like you don't like my comments! It seems to me that events are largely out of DOR's hands at present. Those with patience will have to wait for Lidsey to be fixed (?), and results from HH and Brockham to be returned. What else is there to say that hasn't been said many times before? Have a nice day.

Can't help thinking that in spite of all the (to some extent justifiable) complaints on this bb it will suddenly all be love and kisses DL if Brockham and HH deliver the goods and the sp gives us all a good return. No guarantees whatsoever on that, but that is the gamble we all took. Never ceases to amaze me what a fickle lot us pi's are.

Risky old business investing in little oilies! If Brockham and HH produce good results I wonder how fast the sp will rise?

I have read many times on AIM bb's that serious II's are only interested in companies with MC measured in tens of millions, more likely close to £100 million. If that is the case then DOR at £5.8 million is a long way from attracting that kind of interest. I would love to be proven wrong. Pleased to read that DL has confirmed exactly what I posted on Saturday. Those inclined to write off DOR and DL are being ridiculously premature! Wait for the results from Brockham and HH!

I think you guys have got it wrong! Right now it's news from Angus about Lidsey, FDP, progress at Brockham that we need. Very little DL can add at this time. He is not the operator and therefore it is Angus that must put news in the public domain. I realise that DL has his detractors but even such people need to be fair in their criticism. As far as I am concerned it is oil news that I need. The rest is just noise at this stage.

Bought into UKOG (DL) in 2014, de-risked original stake April 2015, kept free shares and sold in March 2017 at 76% profit on original stake. Apart from my investment here REM and UKOG are my only other DL related investments and I think it is fair to say that I did very well out of them. If the oil flows commercially at Brockham and HH I fully expect to do well out of this DL investment too. Any improvement at Lidsey would be nice of course. Everything depends on oil flow. DL cannot control that! Anyone investing in junior oilies or investment companies needs to understand just what a high risk that is. I think most here do .... now! But that risk can quickly turn to reward IF the oil flows. I am happy to take responsibility for my decision to take such a high risk and happy to be patient and wait for the end game.

I bought REM in 2013, de risked original stake in 2014, ran free shares to 2016 and sold with profit of 52% on original stake. Quite happy.

Extract from the interview: "PV: well Justin you are completely correct. As you said we announced our initial flow rates. This is an important distinction. We have a legal requirement to report our initial flows but these are definitely not our final flow rates Naturally we were disappointed, but we are also quite realistic, this is the O&G business. It is still premature to diagnose the exact cause but there are several factors which can be remedied and we are looking into right now. To summarise: when we switched it on the initial pump did not work and even though we�ve got very good downhole pressure in excess of 760psi and with the new pump we are producing dry oil, no water, however at these rates it should produce a lot more than it currently is doing. We think that there is a hole in the tubing, below the pump so as soon as the fluid drops below a certain level we start producing air. We're going to remedy these issues by pulling the tubing and by installing a new pump all the way down at horizontal section of the reservoir which should give us much better flow rates. It's important to note: this is all solvable and it is certainly not a unique case. In our experience is quite common for the great Oolite in that area. In the region there are several fields producing from the Great Oolite just as we are from Lidsey no2. Many of them have taken a long time to bring into production at their full potential. Some of them have increased 2,3,4 and even 5 times from their initial rates. We firmly believe in our business case for the Lidsey no2 and the entire field and it still has a lot of upside potential still."

Correction and apologies for poor maths. ANGS drop of around 53 - 54%

London that is a very fair response. Thank you. I know I am sometimes a little too quick to shoot from the hip, and I do try to remind myself that no one likes being heavily underwater in an investment, especially myself! Let's hope that future results give better return on investment, and concrete reasons for optimism.

One further point, make of it what you will. In the day or so leading up to the announcement of the 40 bopd etc DOR was trading at about 23 - 24p. Today we are around 14 - 15p. Trading on NEX the sp has fallen about 38% + or - a little. ANGS was trading around 26 - 27p and today is around 12 - 12.5p. A drop of around 47% + or - a little. I know that ANGS also had a placing but it would appear that we are no worse off during this period of time on NEX than our partners on AIM. Arguably a case could be made that we have weathered the storm marginally better, perhaps with a little help from our friends in Australia. Before anyone shoots me down on this I am just trying to be balanced and have used a few facts as the basis for the comparison. In the end though it is simply a discussion point and just my opinion.

Just a reminder to all that Brockham was the target that most of us were expecting great things from. Lidsey was always a side show, until of course Brockham got delayed. At that point we all focussed on Lidsey and the disappointing initial results have inevitably hit the sp and allowed the doom and gloom merchants room to play. Some like myself accept the risk, understand that everything depends on commercial oil flow rates and are content to wait to see how Lidsey, Brockham and Horse Hill develop (yes, don't forget our stake in HH). Perhaps we did get a little too optimistic about Lidsey, time will tell, but Brockham and HH do appear to have great potential. We know oil flowed at HH. Wasn't it the highest initial flow test results of any UK onshore well? Happy to be corrected. And weren't we informed that Brockham logged very similar information to HH? We seem to be at a point where the half empties can make a case, and frequently do, but so can the half fulls. I guess where you stand depends on your personality. I suspect there may be one area of agreement which is a degree of cynicism regarding announcements from ANGS BoD. I think they need to learn some lessons about under-promising and over-delivering. Shouldn't be doing things the other way round. Sorry to introduce a tone of rational thought and balance to the debate, but too much negativity is not good for the soul. Remember, everything depends on oil flow rates. Until they are known no one here has a clue as to whether this will turn out good or bad. So more patience required. Regards. Pdub.

AEMarsh a very clever answer, and yes quite amusing. In fact almost entertaining .... However you failed to answer the question. I have not questioned your right or anyone else's (including myself!) to post ones opinions. Read my previous post again. I asked you how venting your frustration helps your investment (and of course mine). I will take your attack on me as evidence that you don't have an answer.

Captain Swag sometimes your posts are disgraceful. Suggesting by implication that some here are attempting to deceive or conning others. You should be ashamed of yourself. I presume that you are saying anyone who says anything positive is trying to deceive. If so that is utter rubbish and in my opinion very immature. And then that silly tern "golden ticket ramps" - simply childish. For my part I have said on I don't know how many occasions that everything depends on how much oil flows. The recent disappointing RNS and subsequent sp drop proves that I was absolutely correct. For all our sakes I hope we are not too far from better figures and a recovery in sp. We all invest in shares that we hope will produce a decent return. Some DOR investors in my opinion have clearly lost their nerve and seem to struggle when things don't go their way. Some perhaps are made of tougher stuff and see beyond the immediate sp. It is not therefore surprising that the latter group adopt a more positive tone.

AEMarsh no I still don't. Please explain to me and anyone else how putting up negative posts and venting frustration about the company you have invested in helps your investment? It may make you feel better, but that wasn't the question. How does it help your investment? I'm looking forward to this answer. Could be quite amusing.

AEMarsh purely for the benefit of the newer investors that you care so much about, which of the reasons for the delay in production are in any way whatsoever the fault of DOR or its BoD? Do please enlighten us, as nothing in any of the RNSs recently suggests that? And again AEMarsh as no doubt you well know the "they" in "...I'm sure they are working hard to fix ..." will be the drill team etc and ANGS who are the operators. Stop trying to infer that any of this is somehow the fault of DOR. It is completely beyond their control, as I am sure you are aware. Whatever may or may not have happened at DOR historically, it has nothing to do with the current issues concerning Lidsey. DOR have simply invested in Lidsey (and Brockham) I am sure that you are happy that I have made that point clear to newer investors.

Captain so as not to clog the bb I will pick up on one of your points: "... Let's say the hole in the tube occurred because of negligence..." That is not balance, it is fantasy! All we are told (and by ANGS not DOR) is that they are investigating possible hole in tube. Negligence not even mentioned, but every opportunity you get you try to justify your negativity. Of course we are not responsible for that, whatever the cause. What a silly notion. And clearly you have little knowledge of the oil industry, otherwise you would understand just how difficult these operations are and how frequently there are issues. More to the point you are completely responsible for deciding to invest in such a high risk industry. You did it for the potentially high reward. Perhaps you didn't pay enough attention to the high risk?

London I presume that when you bought your shares you understood that oilies are a high risk investment? If you didn't then you certainly should by now! I presume that when you bought your shares you understood that things can and do go wrong during the exploration and production of oil? If you didn't then you certainly should by now! I presume that when you bought your shares you understood that how much oil flows will directly affect the share price? If you didn't then you certainly should by now! I presume that when you bought your shares you understood that DOR is not the operator and therefore does not control any of the above? If you didn't then you certainly should by now! I presume that when you bought your shares you understood the necessity for patience as a longtermer shareholder? If you didn't then you certainly should by now! So let's see some evidence of it please. If nothing else you certainly should have gained an education on the risks attached to investing! Hopefully if you have sufficient patience and if the oil flows at good commercial rates you may also gain some profit. Most here understand your frustration. Not sure how venting it here serves your own best interests but if it works for you then fine. If this investment turns out well for me I shall congratulate myself. If not I will accept the blame entirely for making a poor decision. Either way I take full responsibility for my actions!

http://www.asx.com.au/asxpdf/20171121/pdf/43pds9m6h7z6gl.pdf

Just got to be patient. For comparison, when Horse Hill was flow tested in 2016 they announced commencement on 8 Feb. it wasn't until 16 Feb that the first results were declared (Lower Kimmeridge at 463 bopd). So that was 8 days after commencement. I have no idea whether ther production testing at Lidsey will follow similar procedures and / or timetable as HH so I will assume it does. Again using what information we have been given I will assume that production began let's say on Saturday. I would hope for some feedback perhaps by end of week? Way too many assumptions there for anyone to rely on this post but at least something to think about. Also quite useless complaining about DOR when it is ANGS operating the well !!!