Member Info for Rickylfc5

How long to drill a 3000 meter well

Well said Ajb - time for you to top up I guess!!

just let me know

If your having a Manc meet up to discuss HUM - I am also in the area

AJB - I did the same calculation as you - when they say 300bpd they probably mean when all wells are producing (no downtime) which, once again, is misleading

Sarge - i think we need to look at the detail Re Indonesia. It may be that the asset is producing at $18 per barrel but there could also be a substantial admin / head office cost structure (which could easily be cut where duplication exists) so the net profit of the prospective target is unlikely to be anywhere near $18m I'm equally frustrated - but we are in danger of talking ourselves (on this BB) into a downward spiral of gloom and doom - news is imminent on all fronts here - fingers crossed.

That if Z21 & 28 glow at 400 bpd they tell the market 300 and if production is due to start in May they say June (as an example) - time to over deliver!!

Just checked back and there was a loan repayment of over $1m due at the end of April so the new loan may be to help with that as well. Its going to be an interesting few weeks / months ahead and I can't see this being a fraud / Scam. Normally CEO's of Frauds do all they can to rip as much cash out as possible in terms of Salaries / Share sales etc - this is not the case with AC - he has managed expectations badly though

THey are performance related as they are worthless unless the share price rises above 6.7p

Another thought on the loan - you don’t borrow for a few months unless you are confident of a quick change in your financial position - could be - a share sale for ongoing workivers etc - a share sale for the acquisition (including ongoing needs) - cornerstone investor coming in - lots of cash from operations (but hopeful/ risky)

I assume the loan is for work over and capex costs (maybe DD) as extracting oil is cash positive. AC pledged Zenith shares as security which is a little odd as if the Company ran into problems and defaulted on the loan the shares would be worthless

NGNINV - you are talking about the USA aren't you??

For a laugh https://m.youtube.com/watch?v=jY4tD2Hbg_A

DB - you gotta point re JW - I think he feels a need to be the no nonsense, Yorkshire, straight talking right wing, get a grip type of guy but in reality if you are going to contribute properly on these boards you need to demonstrate a reasoned argument and a little humour

They say that value always 'outs' in the end but this seems like an endless torture waiting for this Bird to Fly

Zeb - you said 'way more' than 1/3 - did you mean way less - approx. 1/10th

Ezhik - interesting that you view the chance of success as 'next to nothing' so I assume its a 1% or 2% chance and approx. 98% chance against - so Andrea decided to spend �60k of his own cash (in 2018 alone) plus a �10,000 per point spread bet on a next to nothing chance. Additionally the COO (on the 19th Feb) quote ' the delays incurred ...are a source of short-term disappointment but are of little material consequence when considering the longer term, very significant, prize at hand' - he is also wrong and wasting his time because the chances are 'next to nothing' - Clown has been used on this BB is the past - I think you are the rightful successor to the Clown name

Its nearly 2 weeks since AC last bought shares so I would think that an RNS could come out at any time now (he has to demonstrate a reasonable time lag before inside information is disclosed)

Even if we only get to 700 Bpd with the Z wells - that's 5000 per week = $300k + per week which gives a profit of around $10million per year or about �7m compared to a market cap. of �10m

Zeb - which well is it??