Member Info for Pecten11

Bedex, should have tried to arrange a book of mugshots of TW and his crew to be issued in advance 😎

Typo - seem = deem

The only people who could seem the meeting pointless, as those who take the time and incur any cost of attending.

Even though I can't attend tonight, I'd rather Have An investment in a company that tries to interact with it's investors than the many that dont

Grumpy- that's the funniest thing I've read in ages 🤣🤣🤣🤣🤣

Afternoon all, sadly work commitments again prevent me meeting you all- my loss, your gain!!

Anyhow, if possible can you please ask, apart from the flow rates, YA and arbitration details, Niko drill, cash flow etc which I'm sure are already on many lists -

1. An NDA normally covers specific areas, rather than a total news blackout. What areas of the business are covered by the NDA's with the majors and do the same criteria apply to both firms?
2. The RNS of 19th July states 'The Company anticipates that production rates from future development wells may be significantly higher'. On what basis is this stated? How would future development wells be different, to achieve significantly higher rates?
3. What type of trapping and seal mechanism do the company believe is present in the Eldari B?
4. When releasing technical data from drill results (more of it, please) why is it not presented in a consistent form, to allow shareholders the opportunity to understand how their investment is being utilised?
5. In post drill analysis, do the company believe that that use of the linear gel and ceramic proppant used in the Eldari A drills have enhanced production and/or helped to reduce decline rates? Would that combination be used again on any future Eldari A wells?
6. Does the economic model from the 9th May presentation still hold true? If not, in what way has it changed ?
7. In Zaza's opinion how has/will the recent change of government, including the appointment of the new minister of the economy and sustainable development affect FRRs operations in Georgia?
8. Apart from challenging access to capital to further field development, what, if any other obstacles does Zaza believe still remain in FRR's path?

Many thanks in advance for any feedback. Have a good evening all

Might be able to contain the bleating from his flock.......

Some may think that wolves are trying to scare them

So is your opinion in based on the Brandon Hill 2017 note?

Any value ascribed to the Eureka deal?
Or the Blueberry project deal?
Or the BOD JV?
Or the diamonds JV?

I accept the last two are very much potential, but your view appears somewhat dated??

So Fantasy, you think that VAST'S current MCAP is about right?

Would you care to star an opinion of how that breaks down?

Is that based on current assets or does it include future potential Of those assets?

Selective use of information I'm afraid- the share you mentioned raised the largest sum of money on AIM in recent years - why - because their investors believed the size of the opportunity the asset implied was larger than the sum raised - and knew that they wouldn't see anything from that asset for at at least 18 months.

That's should be the main reason for raising money by any company

That share price dropped to 20% below the placing price and has since recovered as the realisation of the asset gets closer.
Could they go bust - possibly if the wells they have previously successfully drilled fail to produce, or god forbid, a catastrophic accident etc. That's part of the risk/reward

Parallels to VAST - raise money to buy new trucks/dumpers to improve productivity - 6 months timeline.
Raise money to perform due diligence on diamonds JV - timeline, 2 months initially
Raise money to continue de-watering BP - timeline, longer that VAST wanted, but that is partly out of their control

VAST already produce revenue and now have other assets at different stages of the mining cycle, compared to many other AIM companies, imo, the risk/ reward balance is more in our favour

I'll patronize you with a comparison - the o&g share you mention, does not have any current revenue streams but lots of overhead. Could they go bust?

If you're gonna post such rot, at least try comparing like with like, otherwise it's laughable

Lee, well said.

It's always easier to criticise rather than rationalise or be constructive, which is the downside to these bb's.

The new opportunities Vast has acquired in 2018 give greater upside potential and downside protection (through diversity) than it had in the past - and opportunity often requires investment for it to be realised.

Compared to the majority of other AIM shares, we've had more information since AP took over as to what any cash raised would be spent on, rather than a cover all 'general administration' or 'to advance our strategy' lines used in other companies RNS, and personally I expect that to continue.
Is the delay and further de-watering costs associated with BP ideal - of course not, but for all the critics out there - what would they actually want Vast to do differently? Give up on the asset?

The direction of travel is good - the speed, frustrating for us all, but imo, the arrival will be worth it

Reporting OldsilkRoad

'Posted by a self-admitted previously banned poster, LuluIsland.
LSE's own systems are theoretically meant yo stop this happening.

Please act promptly, otherwise, by inaction, you are tacitly accepting, your own systems and processes are unfit for purpose.

If the poster is using a VPN , to evade detection, please post on the board that this is so, so genuine users know where they stand'

MadP, that would be declared as inventory rather than assets - that's why I think the asset increase is that some more of our oil has been reclassified as 1P resources, so can be declared on the balance sheet

Syric, surely the asset increase of $10M can only be more oil moved to 1P resources??

Coggy, my mention of the J-T effect was in reference to Zone 19 due to the gas.

It was another dormant thought I'd meant to ask you - but I'm sure you're right, especially with regards to water, or lack of

Coggy, that actually reminds me of a question I've meant to ask you as our resident gas expert - I'm sure the fact that the zone19 results RNS included three flow rates for the oil and formation gas was meant to say something to us, but I can't get my head round it.
The only thing I found which should explain things is https://petrowiki.org/Solution_gas_drive_reservoirs , but it's beyond me.
Any ideas?

Dulwichman, to add to Coggy's answer, and I'm sure he understands this far better than me, the choke has to be managed to get the best sustainable flow without causing problems due to the Joule-Thompson effect, which in a high pressure environment must be a challenge

But that's why o&g specialists exist in the field

https://en.m.wikipedia.org/wiki/Joule–Thomson_effect

BTW, it looks like Schlum produced 17103 barrels of oil in Georgia in 2017
https://www.slb.com/news/press_releases/2018/2018_06_29_2018_payments_to_governments_2017.aspx

WRT to the deferred vendor debt, that would have to have shown on a company balance sheet by now unless it's a private co.
Time for the super sleuths - and an accountant (not me !!)

Thats where the lack of upfront cash makes sense, Schlum provide the services, additional personnel if required and rig for a %,,of either each well production or of the full PSA.
So many possible nuances in a negotation