Member Info for SelfishMcNimby

Tac, I remember having shares in UJO when they bought into Holmwood, as you know, operated at the time by Europa. For the 7.5% they acquired, they had to pay 15% of drill costs plus back costs. It was just the way things were done - after all, the operator has taken the biggest risk.

It was only a couple of years ago Tac, that farmin deals were double the project percentage cost compared to the percentage of the asset taken, so 1:1.85, which I believe this is, is quite a good deal for Europa. So, put simply, previously to earn a 25% interest in a licence you'd pay to pay 50% of a drill cost - this deal is 46.25% of the cost.

Posters don't seem to say 'in my opinion' very much anymore, as though they know they are right. Well in this case I hope we don't find out, because IN MY OPINION a 'no' vote will see us sub 1p, as bots posted.

I must admit I agree with bots on this Les. For years posters have been saying on this bb they want a third leg. We've now got it, and in my view it will move the company up to a new level. A drill this year - it's not often you hear that nowadays.

Idiot fairdealer. Did I say that? You obviously soon get confused.
Then you say Bill's post isn't worthy of a reply, and you reply to him. Not quite with it, are you fairdealer.

If that was aimed at me, fairdealer, I hope you leave this bb never to return. Normally when posters are found to have been wrong, they apologise, not attack anyone who points it out. This is a shareholder bb where facts provide shareholders with investment information. You are not helping the cause with your stubborn lies

Get a grip fairdealer. I heard the interview myself. Why can't you accept you are wrong, and your attack on VHB was uncalled for! Good grief. You're filling the board with rubbish. Listen to the interview, 4:25 in.

https://audioboom.com/posts/8042880-majid-shafiq-graham-heath-of-i3-energy-discuss-the-farm-out-of-their-serenity-oil-discovery

MrI, for what it's worth I don't think they can possibly forward sell before the placing is concluded, and it should be announced as soon as it's concluded. Personally, I think the drop before the placing RNS may have simply been investors top slicing (at least that's what I hope it was, or it would be insider trading). You shouldn't forward sell before the RNS, and if there was, it should be reported!

I don't think this was a very good placing price at all. However, it's nothing compared to what happened at New World Oil and Gas, where shareholders (including me) tried to force a short squeeze after placing shares were forward sold prior to shareholder approval. Sadly there's only ever one winner in those situations, and it's not us private investors.

Sorry, it was 2.7p, not 3p. The placing RNS was after hours on 2nd March, following the 7am RNS stating DNO had pulled out, which I assume accounted for the drop that day.

Just for clarity, I think it's only fair to state that the closing price before the placing RNS was 3p, not 3.6p, and it had been dropping for a few days.
If I remember correctly there was a placing at 1.3p, so if I'm right it's not the lowest.
Yes the placing price was very low. But was it low through laziness, or was that the only offer they could get? I don't pretend to be well enough informed to say one way or the other.

CLOVES! I was hoping GP would do it (through gritted teeth no doubt).

GP. Please correct my previous post. Make my day.

What is our production other than Wressle? 65 bopd? So we must have easily well over 300 bopd production. The gross profit must surely be $100 pb. So, $3,000 PER DAY.

It's difficult to put a damper on it GP, but I'll give you credit, you do try.

Yes, there's a much nicer tone on the bb now. Just goes to show how destructive one person can be. Let's hope he doesn't return as one of his other ridiculous avatars, and we can continue with the sensible interaction.

Sorry 2bfair, I thought the thread was still on Victory.

2bfair, this is from October's CPR. It's an increase, not a cut:

RPS estimates a total Victory field 2C or best / mid case technically recoverable resource of 179bcf dry gas1. This estimate represents a 14% increase over the previous interim CPR completed by SLR Consulting in December 2020 of 157bcf of technically recoverable gas. Corallian's updated 2C economic valuation (NPV10) of Victory, based on an historical average gas price valuation of 50p/therm, has increased from £146 million to £193 million.

Indeed Uggy.

With the Jackdaw project resubmission, that's 2 big areas Shell are again interested in. The North Sea is getting more interesting. Must be good news for Victory.

' I was the one to first point out that revised planning had been approved at Saltfleetby.'

Yes, I noticed that. And I thought you would use it in the future to attempt to prove you were on the investor's side. But it was painfully shallow. You knew someone else would soon post it and thought you'd take the opportunity to improve your credentials. Quite pathetic really.

So why did the company say this Mirasol:

'production from the side track, itself 100% unhedged,'