The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
ScipioAfricanus-: big brain not needed. It’s a tree shake and will probably finish unchanged or same as close.
liversage85: my advice is to have a very large drink!
The BOD are doing a great job so far and you just can’t get funding from mainstream lenders unless you put up your home as collateral. It’s basically venture capital or equity for most so we are very fortunate to have a joint venture partner who has money and understands the risks.
What we need is a farm out partner like the one GGP has with milestone funding and a loan which has added real shareholder value now circa £1 billion without any earnings!
SocialistB: Si how would you run the business? Endless dilution with a tiny market capitalisation perhaps?
OilMonkey: go for the stunning house while you can!
owenjt1908: you would be best off buying a few premium bonds IMO
csw12: I wasn’t referring to your granny. It’s just a saying. Lighten up!
csw12: the placing was done in a flash compared to others and demonstrates what has been achieved recently with the success of Charlie-1 and the multiple bids reported to have been received from interested investors seeking to fund imminent drilling in the project Peregrine area. Let’s also remember that the project Icewine HRZ play remains an important part of what is now a diversified oil exploration company. This company is not for your granny who has a few quid in the post office. It is for those who have balls of steel!
ricky290: just to bring you into the 21st century. Share certs are no longer recorded on paper!
Rickerich: why are you even here then? There clearly is considerable interest vis “ Highlights
· Multiple bids received
· Preferred bidder selected and preparation of final documentation underway
· Transaction close and execution of documents expected within weeks
Detail
The farm-out process at Project Peregrine has progressed to the final phase and is subject only to finalisation of standard documentation as the preferred bidder has now been selected. Strong interest was shown in the opportunity and the bids received were competitive.”
MW93: it’s not that it’s a shock. It’s all about fear and greed. Some want to scare peeps to sell, possibly so they can buy in cheaper or they enjoy tormenting folk. Others are clueless and don’t understand that a company needs cash to keep exploration operations going. Then there are those who talk about production when the company has no plans to ever produce.
Desmond45: yes, although which Friday is the question? This is the question we are awaiting an answer “ Final petrophysical interpretation will now be integrated into revised mapping of the Seabee and Torok discoveries to determine resource estimates”
Jaris: there is no smoke without fire!
Yes, something is up and it’s not just the share price
mannnan: another PMO deal would be great
How excited should we be? “ Final petrophysical interpretation, using sophisticated Laminated Sand Analysis, substantially upgrades net hydrocarbon pay in the Charlie-1 well”
There's oil in them thar hills
Personally, I don’t see any reason why this should not be back to 4p. The RNS is tremendous and if only it had come at the time of the drill, who knows where the SP would have gone to? DW has a history of telling it how it is so this it it what we have. I know it’s hard to assimilate as sentiment has previously been trashed but we are now seeing the beginning of the realisation kicking in that this is not something you may find on the bottom of your shoes.
I like this part of the RNS “Thermal maturity of the HRZ shale confirmed as in the peak oil generation window”
It reminded me of this RNS
Wed, 10th Feb 2016 07:00
RNS Number : 5859O
88 Energy Limited
10 February 2016
10 February 2016
Icewine #1 Core Evaluation Update - HRZ Play Further De-risked
88 Energy Limited ("88 Energy", "the Company", "Operator") (ASX, AIM: 88E) is pleased to provide the following update on the evaluation of the core over the HRZ interval from the recently drilled Icewine#1 exploration well.
Highlights
· Matrix permeability within the cored HRZ shale exceeds expectations, several times greater than effective cutoff in all 18 core samples measured
o 2 samples displayed permeability too high to be measured using standard technique (indicating possible presence of "permeability super highways")
· Porosity confirmed at upper end of expectations as per prognosis
Overview
Matrix permeability and porosity of the HRZ shale were measured using the Gas Research Institute (GRI) method, which involves crushing the core sample to fine grained particles thereby eliminating coring and sampling induced fractures to ensure more accurate results.
Both the permeability and porosity results are at the upper end of expectations and significantly in excess of the cutoff limits required for the HRZ shale play to be successful.
Additional corrections will be made to the porosity data integrating nano-scale porosity within the kerogen and other mineral components. It is anticipated that these corrections will increase the already high porosity values.
As previously reported, light oil and condensate was observed leaching from core material, confirming the presence of liquid hydrocarbons at the Icewine#1 location (see graphic in attached pdf). This further supports the core and geochemical analysis that the thermal maturity window at Icewine#1 is consistent with pre-drill modelling. Final thermal maturity data is expected within 7 days.