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The-Lockie - tbh given the sp action over the last eight months, as well as the droves of stockbashers looking to kill sentiment that this has attracted, is pretty pointless to predict future sp action. However, a JV on good terms with an established entity/entities would really take the risk out of this and de-fang the stockbashing groups. Get rid of the spectre of dilution, add the lure of Heron developing quickly, with increasing income, JBL being secured and positivesentiment could return with a bang and we've seen where this has taken us before. For me, we are on the cusp of big things which is why I will add, hold and wait.

Understand where you're coming from Abzzba. Tbh I think Buck is just as frustrated as the rest of us at how slowly things move with the Mongolians and the Chinese. He has no control over that. However, I just don't see him as the type to start over-egging things to garner a bit of positive sentiment. Moreover, it's clear to me that he is trying his best to avoid dilution at these levels, as he said at the AGM. Another type of CEO - a Sanderson or a Milholland - would've have pulled the trigger on a huge raise months ago but Buck is cut from a different cloth - a pragmatist, not a show-pony. I like the current approach, trying to tweak what we have drilled already see if we can coax a bit more out of H1, Gobi etc. minimum outlay. For sure, another 100bopd on the books would come in very handy now. All whilstJV and/or sale talks are ongoing. It's slow, unspectacular and requires patience but it's sound and evidence of a solicitous attitude to shareholders, including Petrovis. Having been incinerated by the blowtorch of Arthur Milholland's ego, I'll take a Buck anytime. It's not often Malcy offers an opinion in writing on oiler CEO's but more than once he's made a point of saying that Buck is one of the few good guys in the industry. Not beyond criticism but honest, at least.

Yes, and just for the sake of clarity, Buck did NOT say at the AGM that the JV wouldn't happen this year. What he actually said was that the new JV entity getting going developing the Heron field probably wouldn't happen this year, unless the partner was really in a hurry, and then he wouldn't stand in their way. In other words the announcement of the JV partner, the terms of the JV, the lifting of any confidentiality agreement, any funding commitments, drilling plans etc could indeed come at any time this year. That would be enough to re-rate the sp here.

Interesting analysis Investor.

Literally thousands of posts pretty much guaranteeing a catastrophic raise at any moment for months and one still hasn't happened. The criminal stockbashers have been proved wrong on their main scaremongering prediction. Not just wrong once but for MONTHS AND MONTHS. It tells you all you need to know about their criminal tactics and the complete lack of meaningful analysis.

It's almost Trumpian- just shout something long enough and loud enough over and over again and it'll become accepted as a truth by sufficient numbers of the weak-minded to have an effect.

Still no raise? Any of the criminal stockbashing gang admitted they've got everything wrong yet?

Not sure anyone should be posting on any board if they don't even know what'imminent' means?

Source?

Where's this damned raise the criminal stockbashers have been promising for months? It was meant to be 'imminent'? It's pretty much the only thing they've posted about for the last five months. I think it's called the 'stopped clock' approach to stock market analysis. They must be going blue in the face waiting for it. Can you still be right if you say it's 'imminent' and it comes in five months later?

It's shown the criminals for what they are really about. . Scaremongering with absolutely no evidence to back up their claims, just keep saying a blatant lie for long enough and it becomes the truth.

*Strait

Moreover every extra 50 barrels we can bring onstream adds about $80k to our monthly net income at the current Brent price.

With 250k to follow and then 200k+ per month at current production and oil price. Plus Petrovis who were willing to lend to us when we literally had nothing to act as collateral or guarantee. With JV discussions ongoing. And with planned low-cost works to up bopd in short order. I get the impression of a CEO carefully cutting his cloth. The 'imminent raise' doommongers may just be getting twitchy. If Brent does go to $100 as Goldman Sachs suggested it might if the straight of Hormuz closes our NET monthly income would jump to over $360k. Interesting times.

And another greenbox. Hopefully this one shows genuine regret for scaremongering for months and being wrong. For months.

Lovely.

I'm quite fond of throwing the odd pie at easy targets!

'Imminent raise' for months! 'Massive dilution in the next week' months ago. All that endless spiel as to why a raise had to happen and it still hasn't arrived. Come on Buck, get your finger out and do the raise so these goons who warned it was 'imminent' in March can finally crow about it.

How about this - maybe all those stockbashers who gave chapter and verse explaining why the raise was 'imminent' and 'inevitable' all those months ago just give us some sort of explanation as to why their logic wasn't quite so flawless. They were wrong then despite screaming at everyone who disagreed with them. A raise now still makes them wrong back then when they repeated daily, for months, that it was imminent.

I bet that was Doc! Hair-trigger problem, that one. Apparently

Amazing how often my comments trigger greenboxes!

I wish this 'imminent raise' would appear at some point. We've been told with absolute certainty that it's 'imminent' for months now. Clearly there were actually no real facts to back up their cast-iron certainty that it was 'imminent'. Was just as much unsubstantiated guesswork as they accuse others of indulging in. Strange it didn't happen before we got some income. I almost wish it would happen so the stockbashers would have to find some other 'imminent' catastrophe to warn us about on a daily basis for the next few months. Would be a lot less boring to listen to.

That's for sure. Hahaha

That's roughly my view, Hamm. I think Buck wants to avoid more dilution so the company is just tweaking things for low cost atm. The rising oil price helps us, even more so if we can squeeze another 50 barrels a day out at minimal outlay. In the meantime, they're working on the JV. Buck implied he was reluctant to go to Petrovis but that's along way from saying he wouldn't. If Master's satellite image analysis is correct, it would appear that we've found some cash from somewhere to do some work. The 'imminent raise' touted for months by the scaremongerers still hasn't happened.