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Wait till permit and payment news hits. This will rocket. CNOOC's permit arrived 10 days after the initial judgement, but those 10 days straddled 2 weekends so it was actually only 5/6 business days. I suspect we will get ours granted by next Monday or Tuesday. Very good chance we will see a combined site survey permit issued and APEC funds received RNS. Clearly time to back up the truck on all dips. GLALTH

Wait till permit and payment news hits. This will rocket. CNOOC's permit arrived 10 days after the initial judgement, but those 10 days straddled 2 weekends so it was actually only 5/6 business days. I suspect we will get ours granted by next Monday or Tuesday. Very good chance we will see a combined site survey permit issued and APEC funds received RNS. Clearly time to back up the truck on all dips. GLALTH

Expect that APEC payment to suddenly clear.

https://www.dccae.gov.ie/en-ie/natural-resources/consultations/Pages/Application-for-consent-for-a-site-survey-at-Barryroe,-North-Celtic-Sea,-South-West-Coast,-Ireland-proposed-by-Exola-DAC-wh.aspx

Excellent.

https://www.dccae.gov.ie/en-ie/natural-resources/consultations/Pages/Application-for-consent-for-a-site-survey-at-Barryroe,-North-Celtic-Sea,-South-West-Coast,-Ireland-proposed-by-Exola-DAC-wh.aspx

Excellent.

My other pick right now would be I3E. Major 3 well campaign North Sea with very high COS kicking off very soon.

The asset was given to JOG at near zero cost. There will be no cash flow from it for at least 5 years. The current production platform on Buchan no longer meets regulatory requirements. A lot of funds will be required to complete the project. Given all that, the market reaction at JOG seems comical. I suspect folks are ramping it to try and get their money back after the Verbier appraisal duster where they were out over their skis. Was clearly a good day trade, but poor sell liquidity will likely trap folks when it turns back down. 5 years is a long time especially with so many ifs. I expect the JOG SP will now establish a higher floor than before. Probably best to wait for it to find that floor before buying in. In the mean time I'll stick with ECO.

but if JOG have effectively been given this asset for free how can it be worth a £12.5M increase in market cap? Surely there will be signficant costs to get any revenues and those will be a long way off. Perhaps it's something to do with unlocking value using tax losses. Anyone have a good explanation? Thanks.

The Hammerhead-2 Notice to Mariners has already expired and the Hammerhead-3 notice expires in 2 day, yet not a dickey bird on results.

You correct Rocklawn, but check the data source. PVR closed up 11.6% at 13.95c on the ISE which is 12.5p a full 16% above the London close. A good sign.

https://markets.ft.com/data/equities/tearsheet/summary?s=PZQ:ISE

Yep, PVR up 11.6% on Irish market to 12.5p on 259K shares traded, which is good volume for there.

Yep, PVR up 11.6% on Irish market to 12.5p on 259K shares traded, which is good volume for there.

If EXOLA are entitled to receive a Barryoe site survey permit under the regulations DCCAE will have to issue it regardless of what APEC does. The way things have played out suggest APEC was waiting on the Irish drill ban being thrown out before paying as they got the ball rolling the very next day. The fact that we have been told that payment is only outstanding due to compliance checks by HSBC ties in perfectly which this thesis. Even if it is a ruse and and the APEC payment is dependent on the issuance of the permit, the reverse cannot be true. If it's legal, they have to issue it.

then to update us on operations. This will move very quickly.

An extension to Notice to Mariners would have to be issued before it expired or surely that would be a breach of safety protocols. Given little time there is before they expire particularly as regards HH-2 and the fact that both drill ships have already been reassigned, I don't forsee any extensions at this stage. Operations have either finished already or are about to finish at both sites and Exxon/Hess will know what the results are. We should hear very soon.

TSX almost back to 85p now.

Hammerhead-2 MARAD Notice to Mariners expries tomorrow and Hammerhead-3 notice expires on Sunday.

https://marad.gov.gy/wp-content/uploads/2019/04/No.-19_2019_EEPGL_Drilling.pdf
https://marad.gov.gy/wp-content/uploads/2019/04/No_20_2019_EEPGL_Drilling.pdf

All drilling related activity will have to be packed up out of there and Exxon and Hess will be sat on price sensitive information such as net pay and flow rates. I cannot see how they can keep it from the market past next Monday. The next few days could be explosive. GLALTH

Where for art thou Hammerhead?

I reckon so. PVR moving up again and now only 0.5p off high.

Bid ticked up to 2.05p there without a buy. Likely we'll see another largish buy pop up around 5pm. Looks like some small fry closing their day trades too. GLALTH