Good grief Blingybird you must be made of strong stuff to have 20 million of these. I am 50% down at the moment and that’s enough for me to get earache with far far fewer shares than you have. I really hope it pays off for you. Right at this moment I am worried about Corbyn and crew getting into power and am seriously considering selling up all my shares and funds and digging a hole in the back garden. Certainly the post office shares are going!
You are right Brom the gravel pad may not be the right location and even if it was it may have damaged the shale by fracking the hell out of it. But i will be mighty ticked off if proves to be the wrong location to have drilled iW2 after we had already drilled IW1 there. Its a mighty big pad so maybe they pick a point the furthest away from IW2 that will not have been effected by the fracking and stick a hole there or expand the iced pad. I still think this is the easiest option to get oil to the surface early providing they can work out how to do it. This long wait for the analyse makes we wonder if DW thoughts on the lower HRZ interfering with the upper may be totally off the mark as if it was the case that would not take 12 months to discern.
I still want to know where all that flaming water went, which of course must have turned to steam at that depth whilst we waited through a whole winter.
I strongly suspect that the delay is while we wait for the result of the HRZ analyst. If you are a Teir 1 company you would be daft not to look at both conventional and unconventional in the round. If HRZ looks good you may as well take the lot at what would almost certainly be a reduced price than taking both individually. DW should have got his act together much quicker on the HRZ so that both could have been put on the table with a menu of options that could have one option of taking the lot.
Why do I think this it’s because we are still waiting to hear from DW about the HRZ analyst which has been ongoing now for almost a year in one form or another. I cannot believe in this day and age experts are still working on it, if they are we must have payed a cheap rate for them to only work on it in their spare time. DW should be pushing the HRZ hard because the reality is due to its location we can get at it at any time of the year and a lot quicker than having to wait for winter, ice roads etc. Get the HRZ cracked with the resultant rise in SP and then get after Yukon etc with our own dosh. Just my thoughts on a Friday morning as we wait for yet another weekend to pass.
Guys and girls you have to remember that we are asking a company to commit considerable sums of money on a situation very similar to Winx. In other words no oil out of the ground yet. This will take longer to put together than on where some oil has already flowed if only in a test well. Look how quickly we jumped into Winx and how pizzerias off we were when nothing came to the service. A big major will have to make sure that everything is as sure as possible before committing and time for them is not a pressure. DW and us are at their mercy and we have very little pressure we can excerpt on them apart from saying we will go back to one of the other companies which is unlikely to happen. Unfortunately we just have to sit and wait and hope. I would be starting to get concerned if it was not for the fact DW has a considerable amount of his own money invested in the company. I do wish he had waited until oil had come to the surface before he excepted his large pay rise which so far he has not really earned.
I know I keep repeating myself just about every time DW produces an RNS but he is utterly incompetent at writing these things. Yet more guess work required by PIs to decipher his rubbish. Nearly 10% down because of a poorly written RNS that should have just been an easy update with zero reaction from anybody. But no he has opened up a load of questions because he cannot be clear. I await Brom telling me don't worry about it!
Not sure why it is taking so long to get this news. How long does it take to analyse some samples it’s not like you are waiting for bacteria to grow. Maybe it’s all tied up in this FO but it is all taking a long time, snails pace does not even get close.
Jiddy do I detect some concern about the FO? I must admit I am becoming concerned that it has gone down to the wire twice now and in each case has been pushed back. I have no doubt it’s complicated when you add in BEX who will want to see some money back for their support at the very least. I would have thought that a large company who were interested in what we might have would find it much cheaper to just buy us out. 2.5/3p would sadly probably find the support they would need. Brom I am sure you know but what are the rules for a big company and how much land can they lease for exploration/production as I think I recall there is a limit.
Anyway DW had better pull this FO off or we are going to be stuffed.
I suppose I am now bracing myself for more bad news, DW knows the date set ie end of 1stQ of 2019 and at the very least he better say something on the last day, even if its only hang on there we are still working on the final detail. If he does not manage to pull off an FO then I am not sure where we go from here, but I don't think I will be along for the journey.
If only, beer on tap would put me in deep trouble and probably hospital. Now a nice oak barrel of red wine would keep me up very late. You have some great wine produced down at Margaret River just down the road from you, so as to speak!
Kevin if that is pointed at me I have listened to the interview and read the RNS and to me 7 months is not on the back burner, as stated I want DW focused on our acreage. If everything looks really good for another try let one of the other companies lead and we can just produce some cash but that would also depend on a good FO that gives us loads of cash.
it certainly turned into a bit of a monster! Not his best look especially when you added poor old PB to the stage who invariably looked like he had just returned from 6 months prospecting based from a two man tent. Boy I miss him he added something special to the company and his enthusiasm was contagious.
An excellent interview that has obviously attracted some nice chunky buys today. Lets hope the SP continues to rise into a really good FO. It would be really nice to wake up to some really stonkingly good news for a change.
Thats simply not true Neversatisfied, I don't care if its good or bad news he is simply useless at writing them. After IW1 when the potential resource was released (which was good news) the RNS had so many errors and missing details that the SP crashed rather than at the very least holding steady. I remember people spent all day trying to decipher what had been said and sending emails to DW. The worst bit was basically saying the report was rubbish because they didn't understand the shale.