Member Info for SeaHawk

MR ST you are so right about the British Govt, there needs to be a proper investigation into the contracts that were awarded ref covid. British companies with excellent tests ignored in favour of rubbish Chinese ones. Too many examples to quote and needs a real digging into although I fear our press have become roll over dogs. Where are the decent investigative journalists? Any how another day down and hopefully not too many more before news.

MR SP I have no idea what that price might be if we get a discovery, it might, like we all hope go sky high but I have also seen companies make huge discoveries (mainly in oil) that have hardly budged the SP at all. There is a distinct pattern for oil and gas companies (a chart of which I cannot find at the moment) but essentially on discovery you get an initial rise which then slowly falls away until shortly before production starts then you get another big rise. Makes sense really especially for small companies as there are lots of expenses in bringing a field on line and that money has to be found or parts of the field are given away due to farm outs etc. There are also other things happening to delineate the size of the field that on further discovery can keep the SP moving up or down depending on the results. The totally unknown with HE1 will be a buyout by a larger company and when that might happen. Quite possibly the Govt might be keener to see all this coming on line ASP and would feel a larger company would be better suited, how that would work out who knows; It is after all Africa where corruption is the norm and I would not normally invest a penny in this part of the world. I expect you know all this and I am sorry if I am teaching you to suck eggs but hopefully somebody might find this diatribe useful or thought provoking.

Very sensible approach Evidently , made your money and totally de-risked. Absolutely nothing from stopping you jumping in again at a later date regardless of result. If this drill fails you get the next tranche cheap as chips and it will again move up as the next drill starts. If this drill is a success you can still get in at a later date as once the initial excitement is over the SP will fall until closer to production. Either way your profit is now safe.

RP Because many people will experienced situations like this before and will have lost lots of money. After a while you watch a situation develop and people get twitchy from previous experience. Why do you think its falling today, its not just because of the few people on here who are concerned, there are plenty of others who feel that this delay needs an explanation. Believe you me if this turns out not to be a discovery then you better crawl under the rock because the SP will lose 40% in a blink.

Highlander you do realise that a drill taking twice the initially proposed time, costs significantly more, the extra time does not come for free. It’s closing in on a month since the last RNS telling us of the sidetrack at 500 odd m eg half way. I do not think it’s too much to ask that the company puts out an RNS explaining to people what is going on and why the large delay.

I thought we were drilling sandstone not granite, this has to be the slowest drill in history. Makes one wonder if the rig is actually up to the task, frustrating!

Phantom they will be trying to learn as much as they can from this drill regardless of if they find HE. What they find will hopefully help with the next drill so it does not necessarily follow that because they are still operating at this location that HE has been found.

If that's the case Craig they should be telling us, not leaving us hanging. Next Thursday it will be two months since the start of drilling, a full month overdue. An extra month of drilling does not come free so its going to need paying for + the drill bit and lost string. Still no hint of preparations for the next drill, which could be a good thing or they are not sure where to go next. They are extremely lucky that the SP is holding up as well as it is, with a delay like this you would normally see a big decrease in the SP. Lets really hope they let us know what the hell is going on early next week.

Prae if they have reached TD they really should be informing us. All the other drills I have been involved with have informed their investors when TD has been reached as its a major milestone.

Screenlearner it is extremely rare that somebody is not in the know. Does not matter how tight a ship you run somebody will hint something to a friend who will take advantage. Whilst there are big buys coming through all should be good, if we see a flurry of large sells at the end of a day its time to worry about what's coming the following morning.

Screenlearner if they have had another problem then they should inform us by RNS quite quickly (days at most) they are currently pushing there luck in not informing us why it is taking so long. Overruns in drills do not come for free. Whilst the company are still putting out tweets showing the drill rig working we can only hope all is well, because they will look extremely stupid if its not and will be in hot water.

I think it obvious to most I was answering Agent B question of why we were not getting plus of 27p but that may be be difficult for somebody like you to understand.

There is somebody selling in quite large chunks, 50000 75000 appear quite regularly, its that which is stopping us move up.

Space I am beginning to think that they are going at this hole with a shovel and spade its that slow.

Unfortunately it happens all the time with duel listed companies. A certain oiler I was in always announced in Australia first with the end result that when bad news came the opening price in UK matched that of Aus a 40% drop and zero chance to get out. Aus started at 20% down and worked its way down giving people an opportunity to get out. UK no chance, its one of those things you have to take into account when you decide if to invest or not.

Somebody is going to get a big slap on the wrist for that tweet.

I am more keen than most for an update but that is not it, that could have been made weeks ago and looks more like an investors presentation. Still another way to look at it is if you put that out now and then in a couple of days you announce there's been problems or you have not found enough HE you are bringing a world of unnecessary hurt to yourself. So fingers crossed.

Ahh I failed to understand that this your forum and your rules, so sorry.

Noob I have already explained my concerns and if you cannot understand them that your problem not mine. Where did I say people piled on me, I didn’t, I was saying it to Shagged and people were all over him yesterday. I get it you cannot even contemplate hearing views different to your own. As too what I do with my own shares thats none of your business at all and you have no idea if I am out, fully in or somewhere in between.

Morning Shagged I hope you are ready for the pile on! Like you I am concerned but I really hope I am wrong, it would be nice for one of these small companies to get it right for a change + helium is key to many medical devises. You are right MD needs to see this drill through especially after announcing it was a ‘must drill’ which I would rather he would not have announced frankly.

Anyhow another weekend to wait out and an early rise on Monday. Good luck everybody.