Member Info for RogerJolly

Have the vultures gone? It's very quiet

As said before, it will take time for the clean up to finish and the flow to stabilise. Only then will the Esp be installed, but from what is said below I have no doubts that time will come.

"As previously announced, the SCHB-2(2.) well has encountered an excellent 34-metre gross interval containing 28 metres of oil-bearing net reservoirs in the Pechelbronner-Schichten ("PBS") sandstones within the Stockstadt Mitte segment of the Erfelden field.

· These oil-bearing reservoirs were encountered approximately 25 metres high and 10 metres thicker than prognosis, with porosities averaging 18% in the Lower PBS and 21% in the Upper PBS, with no water-bearing sands in the 42m hydrocarbon column"

The chairman has said previously if we get 250bopd we will be self funding for FFD 600 was the aim which he said would enable it to be faster. Now they talk of 900bopd plus.

Been here a while under the old company and sticking around for that FFD as that will be the bigger long term profits. Has to worth a punt for newbies at this price even for a short term gain.

I'm thinking .2 plus when stabilised then .3 to .5 with ESP installation so plenty of upturn from here by mid first qtr. Then with FFD we should be climbing up into the pennies.

Good luck to all, but DYOR

Of course HD trades never do effect the SP do they. 🙄

As you say they don't, then perhaps you could explain the point of them? Who is going to make any real money with a £4.20 trade?

I'm expecting that news to come in before the AGM or it will not be a pleasant meeting.

Perhaps when putting your theory together you should have studied the normal periods of rain because you are well out. 😁

Forest you say down but not out and that's correct, so why refer to it being a dodgy drill?

The hydraulics and electrical overhaul is all but completed and a new iron tough neck is on the way. It won't be dodgy once it's fitted and the repairs make it a valuable rig once again.

Releasing that news makes no sense to me. Even if Lorna was being naive surely it would have been run past the chairman and Ms Cope 🤬 would definitely be aware of the effect it would have.

So, imo it is either a deliberate walk down for the finders AGAIN or their is something in the air. Hard to fathom

Very unlikely to cover losses for many from this price and probably not welcome as most would yell it was all planned, me probably amongst them, but it surely be at a higher price than we are now.

If this were the case, how would it be valued?

On an average of 12 months or other method?

As hard as this maybe at the moment, before saying we will not return to Tai we should remember they cased the well, they did not plug and abandon. The reason they moved on to Itumbula was that long lead items relating to deeper drilling needed to be ordered.

While I'm not defending the handling of funding issues, we are victims of mechanical breakdowns which nobody can control. I doubt even the majors carry every spare part, but a minnow like HE1 should not be expected too.

Now they are in a position where the new rough neck is ordered and "paid for" and we await to see what funding mechanism is used to move forward.

I think it unlikely they would spend their salaries on that rough neck without being pretty confident of funds coming

Exactly Ralla. We all win. A little patience and lots of topping up when able at these silly prices. This is imo is both a near and long term winner and the FFD will be much greater even than the short term gain to come on the RNS and the follow up electric pump installation.

If as expected the full 900bopd possibly more is realised then the self funding FFD will kick in big time in the coming year.

I suppose unsolicited approaches would rule out a loan?

If a loan agreement could be found on the strength of what is known, that would be a confidence booster.

Can't see it myself, but it would make me happy if it came.

Dai I agree totally and what I warned of just the other day, where talking it down simply makes it worse.

Enter Ms Cope and her funders. Her involvement and the handling of events since she arrived has not been good.

In my view we have been manipulated for those funders and we've had a barrage of deramping going on here right through build up to the rig and beyond. Again imo "paid for" It has been none stop. I have never seen an sp go backwards leading into a spud before.

She has to go!

Sharebel, you are reading what you want to see. Nobody disagrees about production starting November, but the key paragraph is this....

"The Company expects to provide a further update on the reservoir clean-up operation in the SCHB-2(2.) well after establishing a stabilised and sustained flowrate from the rod pump."

You DO NOT go from 0 to 250 saleable bopd in a few days while it is still cleaning out.

I wish it did, but it will take time to get there. I can see you are desperate to push it forward but it won't come until it's stable so no point fooling yourself.

READ the RNS ffs

Wontongue has posted the key paragraph @7:19 this morning. Is there a part people do not understand?

We should not expect news until the new year based in that. The only possible chance of sooner is a progress report on the day of the AGM, other than that, take a chill pill, it's only 12 working days away.

PS Crusty, don't go tomorrow mate, its on the 14th

Which Dai is exactly what Ms Cope organised last time. I don't trust her as far as I could throw her.

I am kind of glad I can't make the AGM as I would like more than a few words in her shell like over her part in the AAOG scam!

I do hope she's been voted out, but with her big money funding friends I suspect it unlikely.

Wasn't there a hint of something being announced at the AGM?

I wouldn't be entirely surprised if there is a JV announcement put on the table. Stranger things have happened.

Perhaps Crusty can enlighten us afterwards if he can come away without an axe in his head 😂🤣🤣 Take care buddy

I can't make it I'm afraid

I agree about Sarah Cope a jinx, a NO vote from me.

Its amusing to see all the flippity flop traders fighting amongst themselves this morning.

It's been like watching them dance the hokey cokey these last months. Hopefully they will feckorf somewhere else now.

Yes HD Libel to Noble. Libel to Lorna today coming after yesterdays disgusting riding on the back of a tragedy.

On top of that claiming it would be mad ness to drill in January without giving reason 🤬

Short rains end mid December, long rains begin March. What grounds has he for putting out crap like this other than to feed his short?

There will be a fall this morning and the MMs will open it that way but I doubt it will be massive as much has been priced in because it's been expected.

Aaah Bistow. They are all coming out today.

Seems their is a sniff of a lower buy in. Go on boys do your worst. I shall wait patiently for those opportunities