Member Info for SeaHawk

What a complete FU. Yes I get it we are an exploration company and this happens. What really gets me is management blew this up into something that was going to be amazing, first mistake, then after flowing water told us all was looking good for future test, poor advice again. We will let you know when the frac kit arrives eg before the next level test starts. Nope RNS arrives stating we decided to just go for it despite waiting 5 weeks for the frac kit. So without telling us that there was a complete change of plans the first we get to know about it is a RNS telling us no flowing oil just more water. Trust in management is a huge thing for a company and it will be slipping away if they keep this up.

Why am I ticked off, well it's because I fully intended to reduce my considerable investment when the frac kit arrived as when Max failed to mention Magrez in any way or form in his last investors brief I became concerned. My fault should have gone with the gut then and there and sold half of my investment. Not expecting anything from the next flow test, results of which should be in the next 10 days or so.

Squirrel I said if the next well does not come in, the pipeline is stuffed. Why did I say that, well if you cannot flow the oil at commercial rates then its not commercial on gas alone. We would need at least 10 wells to meet initial gas requirements and will not be drilling those if we are not getting commercial oil as well.

Thats why it's incredibly important that the demonstration well produces both commercial oil and gas. Everybody says it will so we will have to cross everything that they are right this time.

15:35 you are making stuff up, where did I say they have no possibility of raising more money? I did not say that at all, if I thought that was the case I would have sold up and I have not. Jeez you lot.

Which bit Squirrel? They built this drill up considerably. It will have cost a fortune, they have already indicated that they might not have enough money for the next drill. If we cannot produce the low CO2 gas that pipeline is not going to happen. So go on explain why it's nonsense.

Another really poor result. It would not be so bad had they not built this up to be something really amazing that they had discovered. If this next flow test fails (which I am now expecting) we are going to be back in the teens. I have no doubt that this well will have cost a small fortune and that by the time we have built the next pad and drilled our next well we will be out of money yet again, if not before.

The importance of the next drill cannot be overstated, if it does not come in not only will we be financially stuffed but we will have Alaska and Trump totally p.ssed off as that pipeline won't be happening.

Yes I am ticked off!

I think what the CEO is saying is forget this well. Maybe many years down the road with lots of infrastructure in place and money in the bank they may have another look at it. They are throwing the dice in one last test, all we can hope is that we get some commercial oil but in my mind I have written Magrez off. How they have managed to get this so wrong after all the backslapping and laughter needs some detailed explanation.

I am very surprised all this water that they have found did not turn up in the initial core samples. I think I am going to give up on Magrez and am now wishing that I had acted on my gut feeling when Max failed to mention Magrez even once on his latest investors presentation. I thought it odd at the time.

What is going on with this drill. We are told we need to wait for the frac equipment and we will be told when it would arrive. Then out of the blue an RNS saying we decided not to frack and completed a normal flow test that essentially failed to flow oil after a short period. We seem to be flying by the seat of our pants at the moment, this is not looking terribly professional and is disappointing.

The company have still not put out an RNS about Dubhe-1 so in reality we do noy know this is actually going to happen.

Exxcessus if this company gets sold off for £2 quid a share I will be very annoyed as to me that's bottom dollar. However, have been in AIM shares now for a long time now and have seen many people in the past telling everyone that a company is going to be sold for many pounds a share and yet have been distraught when its been sold for pence not pounds. AIM is a very dangerous and is full of people trying to make a quick buck. All those who are buying in at the moment would probably say yes to a take over bid of 200%. Now if you have some inside knowledge to share I am sure we would all love to hear it.

I agree, said it ages ago that they will have to get a move on as they will need somewhere in the region of ten wells flowing gas to provide for the pipeline. If the pipeline gets the go ahead Trump and Dunleavy are going to want it done asp. Trump will want to be cutting that ribbon before he leaves office. Yet here we are waiting on equipment nearly six months after the well was finished. I am sure Max is all over this but it’s getting frustrating.

09:53 It really should not as we are not producing at the moment and won't be until 2028 on current plans. However, this is Aim and if you sneeze at the wrong time you can cause a calamity.

Can I strongly suggest if you are a new investor here that you head over to their web site companies web site where their is a ton of info for investors. This is a great opportunity but comes with risk that you need to understand. If you want to really make the most of the investment you will need patience and the ability to hang tough when things don’t go as planned. Good luck to you all.

07:58 the Company has said it will RNS when we get the frack equipment, so we do not have it yet. It will take a couple of days to set up and the about a week to complete. Then 10 days to flow test. Patience is going to be required here as we have no idea when this equipment will become available.

07:26. I have said this before I don’t think Max is used to the level of scrutiny that happens with companies statements on AIM. Every word is dissected in detail as we are all aware of how lies are often told. He will get used to it and understand that he cannot ab lib.

JGoatee first two deepest levels need to be fracked. After the first had been fracked the fracking pumps etc were moved off to another companies well, whilst we flow tested this level. We now await for the fracking equipment to return so we can frack the second level. Once this is complete the company is hoping the next four levels will not need fracking and everything will move quicker.

No mention of Magrez which is a bit disappointing. Did discuss the next well being a demonstration well. Makes sense as so far we have lots of models telling us how much oil we have but as yet we have not proved the ability to flow at commercial rates. Yes 85bopd (proved) turns into 1000bopd if you dig a long enough horizontal but we have yet to physically do. Nobody is going to spend billions buying us up until we prove it all flows.

You can nearly always tell a shorter as they will be a new name with very few posts.

I am talking about getting the EIS for Kodiac as well. We need to use this opportunity to get all the ducks lined up.

Yep this changes our timelines completely. It’s going to come down to money and of course oil flowing. We need to make the most of this change to regulations as you can bet your bottom dollar if the Dems get back in it will change back.