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Brilliant find Abzzba. I've said before, our Zula is worth the current MCAP on her own! Yes WOS said it all along. Well, well. Many thanks.

Go back over Hamm's last thirty of forty posts and count up how many times they manage to get the word 'raise' in. It's literally every post. I think that's the very definition of spreading FUD. I actually think they think they are being subtle in their deramping.

Morning all. Brent $1.06. I like to post the price regularly as it seems to trigger Furry. Late this morning, Furry. Apologies. Hope you didn't get up just to see if I was posting the oil price very early. Hugs.

Malcy loves it!

Right, that's enough for this week. A good weekend to all. Damp and grey here today so I thinks it's time for a nice fire and a single malt to start the weekend off on the right note. Hopefully good news next week. If not, life goes on. As it must. Atb, even to you Furry. I'm sort of flattered you've been trawling back through two years' worth of my flatulent posts. Haha

Brent up around $102. Not many analysts predicting it will tank anytime soon.

Just out of interest Furry, can you outline some alternatives for tiny oil explorers to raise money other than by share issues, placings etc? Many thanks. You seem very unhappy that we went this route, but I say again that I certainly don't consider our sharecount unmanageable. Tenbag is correct, debt can ruin a company and increases the risk profile but share numbers can always be reduced in the long-term. I'm very happy where this company is right now. I might be wrong of course, but there again certainty doesn't exist in share dealing, especially not on AIM.

Agreed Tenbag.

Let's no forget that Mr Buck is currently taking only 30% of his original agreed salary. That's confidence in my book.

It's in the company info somewhere, Senator. The figure 40,000 springs to mind, I assume km2.

Thanks for your lengthy exposition, Furry. Thanks also for making the point that in dealing in shares there are some unknowns, known unknowns, and unknown unknowns. Just for the sake of clarity, are you saying this is a buy or a sell? I'm holding, and might take a few more if with a bit of profit from my Reabold holding.

Just to make it clear once and for all - we have no debt we have to service. None. Nada. Zilch. If you think debt doesn't apply as a metric to judge small outfits by as they can't borrow, just take a quick look at COPL's sorry history. The assets went to their creditors to cover their outstanding toxic debts. They'd borrowed to buy their main asset. Having no debt to service, and hence no creditors to satisfy, is a huge plus here.

Yup. It's pretty clear.

Absolutely re any dip from here being a buying opportunity. Get 'em while you can.

Investor, I've been saying the same for years about banks - every penny you put is bank is a LOAN to that bank.. ALL accounts should therefore pay interest. But they don't.

We have no debt which we have to service. It's that simple.

And our share count isn't unmanageable, at all. Cf Sanderson at UKOG if you want to see a CEO who paid no heed to his shareholders. I gave up counting at UKOG at 13billion shares and that was racked up on UK onshore exploration.

For clarity Hamm, I absolutely believe a farm-out will happen. There is nothing in the public sphere to suggest it won't. The counterparty came to us with a proposal. We know others have also expressed an interest. Moreover, I haven't ruled out a sale as Velocoraptor has speculated on numerous occasions. However, I don't think it inappropriate to adumbrate alternative scenarios to farm-out and what may be viable future courses of action. Buck has said explicitly that he will only accept a FO on the right terms for shareholders' benefit or a sale 'if the price is right' as he put it. I think it's also fair to speculate on the current explosion in the POO and the effects this might have on decisions being made for the company's immediate future.

As I've said, this is AIM and the essence of buying shares here is that you are betting on positive developments being more likely to occur than negative ones. If all you want is reassurance that the negative ones won't happen then you are in the wrong market.

In which case we all have the tax man as a creditor. Haha

Who are the creditors Corpse?

I concur in many ways Investor but if POO spends 6 months or more at this elevated price, which it might well do now, then I think we could easily see between 2-4 new wells onstream by the end of season, maybe with an accretive raise for say three million bucks, possibly without discount if we've got H2 and Gobi sorted early on, or more likely a cash windfall from Sunsteppe. So say four to six producing wells by the end of October, H1 production up, no loss of asset, money incoming from Sunsteppe with money to support their work, and a farmout for rapid exploration of Block VII. In the closed season we then pursue RBL for rapid development of Block XX with the pipepine and refinery ready to be commissioned. I'd take that in a heartbeat. Just guesswork of course, but not that difficult to imagine.