Member Info for sankeys

£2 is probably a fair price at present if you were giving some value to the other prospects. If you believe that Jethro won’t be the only discovery then it’s a buy from these levels. I am waiting till during the drill of Joe to add

Eco last week, Savp this week - Monday’s are the new Fridays.

I got some more at 17.50, really happy with that, MMs will soon run out of stock, I think a 22p close min.

This was the main hurdle. I’m getting to like Monday mornings after Eco last week!
Well done AK.

Great news!

Why’s it a punt? You won’t get a more safe 3 drill play for years. The last I can remember is XEL- 40p to 400p. Different time of course.

The original strategy, the one after that and the one after that.
We are on strategy 4 now with no get out clause.

Banks and market only care about 2P reserves, PMO currently have 194 m minus 30m production this year. With 2 billion debt at 5 years at 400m FCF / 5 years production at 30m basically current reserves only pay off the debt, that's without decor costs. They cannot sell Catcher end of.
Sea lion is a lot of capex and years away, there is no FDP yet for Mexico. They have to buy 2P reserves in the North Sea, no matter what anyone thinks on here.

Given the extension that’s been done on the Jethro block till November I think drill number 3 has already been sanctioned.

Under the current lending terms there can be no dividends paid. They expire 2021 however PMO are looking to reneg next year, the question was is will equity have to take some pain again and will there be closure on the Sealion farce.
Current debt is not really an issue given Catcher production and Tolmount coming on line.
Reserve replacement will be the key topic soon given how much production is reducing 2P. That’s why Big Tone is looking at other NS assets.

Z, i would guess the seller/s have av circa 2.80 currently, that’s 12% return for a couple of weeks capital, risk is minimal as PIs will buy into the anticipated news, then whether the results are good and bad they are long gone.
And that’s the nicest form of dilution - many Aims have staged money coming in on a VWAP calculation or warrants that are hedged to death.

The appointment of advisors is telling at this stage in the game.

The placing price is not always the floor. If a seller had sold 75% over 3p, then they could take less than 2.50 for the last say 10% for under and still hit the desired target on aggregate.
Given they are not risking capital on any results, they should close out soon given some news could be next week. That’s maybe why we have seen the bid hit hard with these sells last couple of days.

I think we will see 130p next week on spud with much more anticipation this time pre drill touching 150p. Then it’s up to Joe.

Hopefully near the end of the ii sells, flipping the 2.5p ones. When the sells go low and near to the placing it can mean the ii has hit their target price and finishing off.
Hopefully....

It’s a risk off market, iis will sell down to migrate risk, nothing to do with the sock superstar.

The first well is not looking for oil is in it. Reality is it will need the appraisal well to stimulate oil interest, October then.

The attempted tree shake turned out to be no more than a branch wiggle. Any decent drop will be bought into. Anything near a pound and I would double up, I’m looking to buy more but waiting till nearer Joe results.

That’s the great thing with Malcy- he always tells you something you didn’t know....,

On Tullow site was to spud in August, is this still the case? It’s just as important as Joe in some respects given the play it’s testing.