Member Info for rossannan

Bamps21

Agreed that LK should monetise all his marketing efforts via an Open Offer with an Excess Facility. That would be a smart move. Waiting for the Wonderwell result before doing it might not be such a smart move.

may be on to something. The tweets are coming thick and fast...

Bamps21

South Erin? In this market? The South Erin which is currently producing next to nothing?

zeusfurla

That might be his aspiration but he has form on this one - they all do. PB has managed to raise at successively higher prices though, which is no mean feat. If he can keep that run going that will be good going.

fuzzpellet

I have never said that CERP would be unable to obtain funding, but the more pressing the need for it at the time, the more shareholder unfriendly the outcome.

To be fair, they appear to be very fast workers.

fuzzpellet

I wish! You are paid. Your are trying to get in lower. You are LexLugar208. Folk will say anything rather than address the points that you are making head on because they can see the validity of your arguments.

Bamps21

When AIM O&G CEOs say, or at least leave you with the impression, that there is no need for a shareholder unfriendly funding event they are being aspirational rather than informational. CERP is running on fumes which means that a shareholder unfriendly funding event arguably awaits you in the (very) near future.

Goodbody

When AIM O&G CEOs say, or at least leave you with the impression, that there is no need for a placing they are being aspirational rather than informational. TXP is not running on fumes like the awful CERP but a placing or similar funding event almost certainly awaits us in the near future. The hope is that it will be on the back of good news from both wells and therefore nothing to be afraid of.

So Wonderwell may finally spud next week.

Mid-2019 became early in H2 which became early September which became late September which became late October. What a ridiculous meal Leo Koot has made out of what is arguably not much more than a Bonasse appraisal well (that twitter pic certainly puts it into perspective), a well which in the event of success (the less likely outcome according to EPI) will likely be transformational only in the minds of the fanboys. And what Leo Koot is not telling the fanboys (or anyone) is how much cash is still in the bank. That reality is something that he is going to have to face up to very soon now, one way or the other.

Give me TXP any day. That is not meant to be a massive vote of confidence in TXP so much as an indication of what a dodgy proposition CERP looks like to me. Since Leo Koot started skipping the quarterly updates, it has been clear that something isn’t right.

Sundayroast

PB seemed to think more likely the first week in November for news in both cases.

MrMagoo31

It is an interesting question. I do not know the answer. Folk buying this morning in an effort to catch a spud spike may turn out to have perfect timing. Or it may turn out that that tweet was slightly misleading and that there is still some box to be ticked. Time will tell.

PipeDragger

Those are the mandatory financial quarterlies, which usually also cover production, but there have also been “optional” production updates. So last year we had Q3 production in an “optional” 11 October RNS and also in the mandatory 14 November RNS.

Back on 8 August we heard that “Field estimated production through the first six days of August 2019 has averaged approximately 1,829 bbls/d, which the Company anticipates maintaining in the third quarter of 2019 through further well optimization and recompletions” but it does now look as if we will not find out whether that average was maintained in Q3 until the mandatory mid-November financial update.

PipeDragger

Everyone has to come to their own conclusions on that one. I have certainly seen CERP skip such updates in what with hindsight (the information does come out eventually) now looks like a fairly cynical way. TXP did give a Q3 production update (on 11 October) last year, but on the other hand I don’t think they did the year before. I suspect that PB may have missed the 1800bopd+ target that he set himself for Q3, but we’ll know for certain when we get the Q3 financial update in mid-November.

I think they may have decided to skip the Q3 production update. The Q3 financial update (mid-November) is mandatory though.

petersalkeld

“That the SP has no confidence in this imminent spud - I would think this is quite unusual”

Do you think that if the market had really lost confidence in Saffron spudding in the near future folk would still be having to pay anything like 4p to buy these shares? Are you not in fact just disappointed to find that the market is not as excited about Saffron as you and the rest of the usual suspects?

(the studio album it was promoting, not the live album recorded during the tour)

Not so sure about the album though...

Bamps21

“$50 per barrel of revenue on an oil price of $60”

What is left of that $50 when you reach the bottom line?

You may be thinking of The Cult, but I’m talking niche Iron Maiden:

https://youtu.be/RN-f6F7l_gM