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If you're a long-term investor it's big news today. If you're a trader you'll try to emphasise the downsides. It was ever thus here. And very predictable.

Correct Gadgie. That's what's happening now.

Looking forward to the Investor Presentation. Buck knows that he's going to get peppered with questions on the farm-in and farmee now so I'm assuming he's got news he'll be able to share. Possibly even another RNS before Tuesday?

Correct Tenbag.

The farm-in negotiations around the proposal are ongoing. No CEO in such a situation is going to come out and say it's a the best thing since sliced bread, we are delighted with the proposal etc before the thing is signed. Ffs!

Not really Master. Actually receiving a farm-in proposal and due diligence being done is quite a big deal, don't you think? Buck is now basically going to other interested 'entities' to see if they can beat the offer, like any salesman would. Plus we've just have our b3st month over re income.

Buck trying to get a bidding war going for Block XX.

Not mind-blowing but clear progress on several fronts. Headline is clearly the farm-in proposal.

Malcy says he has big day of interviews and meetings today. I wonder if one is with Buck?

Back to 1.3p on the bid..

Dan, I'm expecting Buck to shed some light on Sunsteppe. A small point, but I pointed out yesterday that this latest RNS included our 50% ownership of Sunsteppe in the company summary paragraph for the first time ever. So the company is now stating it clearly but we need to know 50% of what exactly. I'm sure there's a reason for this new addition to RNS's and I'm assuming we'll get some clarity on it all on Tuesday. My biggest bugbear is the fact that no field work got started until October despite comments about how they were going to hit the ground running at the start of the season. For me, four to five months were effectively wasted and I'll be pressing him on this. Unless of course he announces something massive to head off the complaints before then...

When did he say that Dsymons?

Totally agree about the debt MP.

If we'd loaded up with all sorts of toxic debt structures to get this far then I would have bailed a long time ago. Raises are annoying but are still a better option than dilutive and expensive debt, and our share count is still very manageable so massive credit to Buck for this situation, keeping things in range in the teeth of a global pandemic and a recalcitrant governor holding us up. As it turns out the last raise was ultimately accretive and I sure Buck will emphasise this point in the presentation. If you need an alternative scenario, we could've gone down the COPL/Milholland route with huge debt, convertible bonds etc too early in the life of the company, which all became unserviceable; end result was the company went bust, and the whole ferrago will now be thrashed out in the courts a couple of years on.

I'm very much in the camp re farm-out that no deal is better than a bad deal. I'm a LTH and am happy for us to tick over until things are right. For the record, the only other time we've had a presentation at this time of year was right after the announcement of Heron 1's successful test ie the biggest development in the company's history. Buck also knows he's going to get hammered for 2025 works only starting in October and for the low-ball raise. I, for one, am gunning for himon these two issues alone. Imo he has only offered this presentation as he is confident he can head off this hammering with very good news. Moreover, there has to be a good reason for not updating the market about H2 as soon as news became available, good bad or inconclusive.

Presumably Heron 1 production profile can and probably will change as the wider field develops. Apparently it's normal to use wells as injector wells to support and encourage flow elsewhere and to replace extracted oil with water etc. For me, it's perfectly possible that H1 flow is restricted of necessity until other wells are in place to equalise pressures. A toilet won't flush unless you have a vent somewhere to release and replace the displacement caused by the flush.

Tbh Tenbag, it makes me sad and angry in equal measure when I think of what has happened to our country. We are making a terrible mistake in embracing right-wing populist politics. As you suggest, we are forgetting the lessons of recent history. My final point of the night is that we need absolutely fundamental electoral reform. Right, where's that lovely bottle of Burgundy I bought for 3 euros yesterday.

btw, since 1979 we've had 32 years of tory rule and 14 years of labour rule. nobody could seriously argue that blair's was a left-wing administration. if you are not happy with the uk there is only one party responsible for its malaise. if you think a ****** yob like farage is the answer then you are part of the problem.

My commune here in France has just paid half of the cost of having my trees trimmed because its seen as something for everyone's benefit. . Great coffee and a croissant in my favourite café for about £2.40 each morning. We buy about 60% of our food from local suppliers who we know personally and who we know value things like animal welfare, not using pesticides. Even here in rural France our roads are immaculate and I can't remember the last time I saw any litter. Our fibre broadband and landline is 20 euros a month. We have a grant for installing solar panels. The local Mayor put on a lovely soirée for new arrivals to the area when we first arrived. He has also given of his time to help us with our residency applications. He's a communist BTW and is so popular that he has just been re-elected. Everybody says 'bonjour, without fail, even adolescents. Our council tax is about 40 quid a month. The health care is first class. My cardiologist in the UK told me that France is ahead of the UK in terms of heart care. I'm a proud Englishman but the steady drift to the right in the UK over the decades has ruined the place. No public services, civic society non-existent, health care underfunded, education ruined, Universities offering rubbish degrees that you buy rather than earn, cost of living spiralling out of control, a country increasingly unwelcoming to foreigners, the peeling back of regulation leading directly to disasters like Grenfell, public discourse hate-filled and dumbed-down. House prices and rentals making it impossible for young people to get a foothold. And so on. No-brainer to move to France especially as I speak fluent French which goes down very well here.

Which media do you use for information, if not the 'mainstream' regulated media? I've always wondered that.

No idea why I lost my capitals!