The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
gibbo888: why so pessimistic? Have you used up all of your 8’s? Time for you to move on then old bean.
TheFluidDruid: The Chinese are very superstitious and 8 is very a lucky number unlike 4 which is the opposite! NB 88888 was only lucky for Nick Leeson until it brought down Barings!
moneyhawk: I’m going for the latter since they are already producing in the area and probably would like some of our oil too.
Burma75: exciting times indeed. I have just been surfing and came across a post speculating that the preferred bidder is EMI. Sounds plausible since they already have made investments in north slope assets......
jiddy123: the shareholders may be the last to hear of the farm out competition if this is anything to go by!
Whittington: I anticipated 1p by Friday and that target has already blown. My revised target is: I’m not going to say although much, much higher with “a good deal” (sound like the PM !)
1.03 paid!
V111JAS: Both the conventional and HRZ are enormous and will take many years to fully develop. Our role to date has been to de-risk the projects as much as possible in order to attract investors such as farm out partners and/or equity over the coming years. I’m certain farm outs will happen and it’s just a question of when.
stockdale: we are in the driving seat and we decide what deal is best for us. If the deal on the table is not right today then we have the option to restart the process at a later date.
WAaussie: the reason why we have succeeded in raising cash is because we are succeeding. The FO for the conventional is only a part of the portfolio. We also have the FO for the HRZ next!
Just a reminder from last RNS “Project Icewine
· The Conventional farm-out campaign continued in the quarter, with the deadline for bids extended to end January due to demand from multiple parties. After consideration, a preferred bidder was selected by the Company in March 2019;
· Subject to the negotiation of terms and conditions, the Conventional portfolio farm-out deal is targeted in Q2 2019, with the intention to drill an exploration / appraisal well in 2020; and
· Unconventional portfolio evaluation work continued in Q1, with a farm-out launch planned mid 2019”
Institutions are looking at companies with much higher market caps so massaging the share price will not work. The present low market cap has the advantage of a potential significant multi bagging which is what makes this stock so attractive to me.
WAaussie: HRZ: oil found & FO 2H 2019; Conventional: Many leads identified & FO negotiations underway with preferred farmee. Talk of failure is mind stuff. Be present!
WAaussie: HRZ: oil found & FO 2H 2019; Conventional: Many leads identified & FO negotiations underway with preferred farmee. Talk of failure is mind stuff. Be present!
stockdale: we already found oil. It’s all about extraction.
AIM4: Absolutely and what tends to happen is that expectations run ahead of themselves with some peeps setting arbitrary deadlines & targets which usually end in disappointment when they don’t happen as forecast. It’s the same with Icewine 2 @ WINX-1. Do we hear talk of failure from the BOD? Its only failure when x amount of barrels of oil a day are not flowing as expected by the hype. I personally take a pragmatic view and prefer to see the results to date as as a step in our journey.
I wouldn’t think of end March as a “deadline” The negotiations take as long as necessary. The farm out is a process until it happens or otherwise.
LSE63: Unfortunately, folk tend to look at things in black and white ie success versus failure. WINX has gained much data which will help to derisk the play.
lebugue-addick: the farm out is a little like dating, followed by going steady, then engagement, finally marriage. We are now engaged! The wedding is expected by end March but sometimes the arrangements can take a little longer because you have book the reception, caterers and honeymoon.
mikemike: SeaHawk: this is from September 2018 “Icewine: HRZ Liquids Rich Resource Play – 0.8-2.0 Billion Barrels Liquids**
• •
De-risked by core/log analysis from Icewine#1 and successful stimulation of Icewine#2 Integration of Icewine#2 results underway – farm-out targeted 1H19”
Take a look https://www.businessnews.com.au/sites/default/files/bnb/document/88E%20Investor%20Presentation%20September%202018%20MASTER_0.pdf