Member Info for SeaHawk

Clearly you have zero idea how a company works. Idiot.

Clearly you have zero idea how a company works. Idiot.

You need to sell up belisce6 this share is obviously not for you. You to think that 88e has endless amounts of money that it can throw at drilling holes all over the place at any time it likes to prove stuff up for you. Throw in the weather and things just do not happen quickly in Alaska. IW was without a doubt PB baby and DW will have had little tech input so I don’t see how you think he was going to magic up the oil. Whilst PB was working on that DW has managed to put a safety net in place for all us shareholders, if he hadn’t we would be in dire trouble now. Do I like being 50% down, no I don’t but I understood what I was getting myself into, you clearly did not. I have met many ceo in over the years and DW is about as honest as they come, quite a rarity. Does he always get it right no, can he write decent RNS s mostly no, but he has without doubt saved us from looking at a way lower sp than it is now. Now he has to pull his finger out and make sure he gets at least a couple of decent farm ins. Long way to go yet and it may not work out but those are the risks you take in AIM.

Learning to invest I am not sure I could have made it any clearer, it’s not his idea and he would not be fussed if it did not pass.

Thanks Stanman despite being down 50% I am still of the opinion that DW is the right man for the job. Having met many CEOs over the years he comes across as one of the most honest and there are some really bad ones out there. It came across much more clearly that dear old Paul was the driving force and absolute expert on the HRZ and I very much doubt that DW had much say on the technical side. DW is now trying to pick up and move the HRZ forward with another company. His efforts with the conventional must be commended without it we really would be pooched.

For those that think I am blowing smoke up his arsse I am not, I am often critical of DW his RNS skills are quite frankly woeful at times, however if you look him in the eyes and listen to what he says he is most definitely doing his utmost for shareholders. He cannot wave a wand and make the dark stuff come shooting out of the ground, this is oil exploration by a small company with very limited resources, if it’s too hot in the kitchen for you then you should move onto something else. He is most definitely not a life style CEO.

The interesting things I took form the presention.

IW2 did show a small amount of oil from the top layer of the HRZ before they opened up the bottom layer as well. This was not announced at the time because it was not enough to get everybody excited.

The of loss of Paul has had a large effect on the companies amity to work out what has happened with the HRZ. They are reworking all the data which has been gathered from the very start of IW to try and understand why it has not flowed yet. There is a five man team on this task and help is also being provided by friends of Paul.

First thought are that the lower HRZ appears to be much more gassy than the upper layer which it would appear to have the oil. Because they fracked the hell out of the lower level (75% of the propent was used here) it ended up puncturing the upper HRZ and this gas from the lower level is interfering with flow from the upper level. This is still conjecture at this point. However all the reworked data will in the data room for the HRZ farm out (hard data room open before Xmas).

Virtual data room has been open for a while on the western block and the hard data room will be open for WB next week. He is looking for a lot from a farm in and is only open to major companies at the moment. Looking for at least 4 drills, more 3D, refund on cost of 3D done so far and I think he said some cash as well. If he does not get what he wants from a major company he will open it up to their 2 companies. He seemed pretty confident but made it very clear at least twice that if a major company was very keen but needed more time to review the data etc they would be given that time.

On the Winx deal we got a very good deal as it was a distressed position for OTO. If we strike oil there is plenty of infrastructure near by that they could tie into and we may become producers, but non of that has been decided yet.

Early results from the 3D on Yukon (which is an even newer type of 3D which is taking longer to compute) is showing much better results that expected eg potentially much more oil. DW is quite excited by it as we appear to be slap bang in the middle of what he called I think a fairway any how whatever he called it the geologists are excited. We will either farm it out or sell it off, the full 3D data will become available in the next couple of months.

My take is that whilst it is disappointing that it is taking longer that we all thought there is potentially a whole lot of oil in the ground, we now have more conventional oil than HRZ and that is with only 25% of our acreage 3D there could be more to come. Paul is a far greater loss to the company ref the HRZ than we thought and it is taking time for the new team to get up to spread. Quite rightly in my view there is more effort being put into the conventional at the moment and the HRZ will be put to another larger company to sort out.

That’s my thoughts at any how and all my opinion, if I got any of it wrong others wil

Davewin it is very easy to sit back after the event and say we should have done this and that after the event, would be nice if we all had crystal balls. If we had managed to farm out before IW2 we would not have received much in return, it was very early in the process and no doubt people would have been moaning that we gave it away. What I got from last night was it was not DW idea to be put on a bonus scheme it is being done because DW current reward is options which is not an incentive for him, it’s just easy money. He actually said I am pretty sure that if it was voted down at the agm he would not be that bothered. Remember it is the renumeration committee that recommends these things.

There are plenty of us in the same boat, which I am hoping has all its paddles and is heading down river and not up a creek. Just wish I had the guts to trade this one as I am sure plenty of people have made good money, however whenever I try to trade I get it wrong 8 times out of 10.

Dark elf I hope you are not invested here as you clearly do not understand what is being said. Yes no oil yet, but part of the process with unconventional ist to find out if the shale is frackable. They now know that it is, hence the successful stimulation. This RNS is great news, lots of potential oil on our land 1.7bn barrels in conventional alone and that’s without Yukon Gold and our drill in the new year. Only dissapoinment for me is no drilling of conventional on our land next year, but I had already worked that out as time is getting to short. However, that should mean no need to raise any money this year.

Reso you really are inconsequential to life, such a tw.t.

We have an embassy and an embassidor so why would any body be talking to a consulate. Take with a pinch of salt!

Good question Major I was having the same thoughts last year. Presumably IW1 is filled with concrete and will have no effect but it is still very close.

Sniffy you knew the risk when we went back into IW2 that it would not work out. If you ignored that then more fool you, I am not sure DW could have done more and one thing is sure he would have much rather it flowed. If he had not put in place the conventional, the new JV where do think the SP would be now, a lot lower. Has he made mistakes, I expect so, non of us are perfect but he continues to work hard for us. JV tend to take time if you want the right results I am sure he could get a partner tomorrow if he wanted but he would end up giving up tons. You are another one after a quick profit with zero patience which oil and gas exploration definitely need.

Mike Mike thanks for doing this my question is;

Despite large pressure reading down hole we lose pressure extremely quickly once the well is re-opened. Do the team have any idea why?

Is the frack design still regarded as a success or does the team now feel that something has gone wrong with the frack.

Others may put these questions better than I mike, so feel free to not use these.

It’s been two dissaponting summer so far, I was hoping by now we were al going to be enjoying drinking expensive wine an drinking to DW. However, not to be unfortunately it has to remain the plonk for another year or two at least. I was always worried about the drop in pressure last year and it would seem that it has done us this year too. Do we know why is the key question. I am looking forward to hearing why this well has failed because if we are honest it has. We can talk all day about it being a science well but the main aim was to flow test it and we did not get a drop. Something went fundamentally wrong and I am interested to hear what. Still onwards and upwards and let’s hope that conventional prove up and that we can at least raise some money to keep trying. News required soon or we will have yet another buying opportunity!

Mike as somebody who,used to live in Canada those electric points are not for charging they are used in winter to keep the engine oil warm enough so that you can start your car when it’s really cold. All cars have a small heating element on the engine. If the oil gets too sludgy the starter motor snaps.

Mike the only problem with a farm out now will be a major will not give us fair value. We will be on the back foot big time when it comes to negotiations. May be we keep flowing for a month or so and see what happens, if nothing then close it up and work on the conventional, if that is a success and we have money rolling in perhaps in a year or two we have another pop at the hrz.

Unfortunately it’s just like last year, where the hell has all the pressure gone to? I hope they have checked that IW1 is fully sealed and is not in some way interfering; It’s what only 50ft away. Anyhow it would appear that we don’t have the expertise and money at the moment to get the HRZ working so it’s probably time to see if a major is willing to take this on, leaving 88e to concentrate on conventional for the time being. Disappointing to say the least but it was becoming pretty obvious there was a problem. DW has played a blinder with horseshoe as it has helped the SP today no end.

Yep up 3% not down 3%.

This site is all over the place L2 has us .9 and .85 to sell. How long does it take lse to sort your mess out.