Member Info for Serif

Unless the major is involved in Iolar?

Yes this is my concern too. If we get too close to the drill date then there could be a temptation to hold off and see by the major. Not only would that be a time delay but it also undermines some of the value of this potential farm in deal, since the perceived value of our licences is likely to be affected by the result, overtaking the basis for the current deal.

Yes absolutely, it’s always been made explicit in the company comms that this is not a guarantee of it getting final sign off - that’s why the anxious wait!

Would you be willing to copy over and share the relevant timelines from this email with the BB, as the differences could be informative?

Saw this link on another site, which indicates general renewed interest in offshore Morocco

http://marocgazette.com/search-category-4

Don’t know if this might be relevant in any way to our plans. Didn’t EOG say some positive things aabout ENI in a fairly recent tweet?

Looking back to last year the interims weren’t actually out until 4th April, so perhaps may have to wait a couple of weeks for these still. Was out of contact for a few days so surprised on return at the mood swings from optimism to pessimism in just a week in the absence of any bad news. Or may be it’s just getting closer to “squeaky bum” time on the farm outs!

As others have said the interims due in a week or so should give an update if nothing heard before then. Don’t see that anything negative has happened this week, the only change has been moving on operatorship of Holmwood which looks sensible in the circumstances.

You could well be right. Looking at rns statements it seems to have gone to HO from NW region sometime between 20 Nov (the placing statement) and 14 Jan (shareholder newsletter), if I am reading the slight change of language correctly!

As I understand it The 4 developments that we are waiting for news on are:
1. Morocco award - due about now on last interview guidance
2. Possible increase in production - West Firsby been “cleaning up” for about 2 months, not sure how long this will take
3. Decision from major oil company re South Porcupine farmouts - been with their HO for about 2 months awaiting approval
4. Further developments on progress with Inishkhea gas prospect farm out - may get included with above farmouts.

Something - small or large - likely to come soon IMO.

Yes good momentum and lots seems to be happening at present. While we all wait for the “big news” it would be good to get the results of the Morocco award and the West Firsby clean up both of which I think should be coming very shortly based on past guidance.

A good week and sentiment around this share seems to be turning strongly. Let’s hope this builds from here with a continuing positive news flow in March.

Not sure that I have learnt a lot more about what’s in the LO/20 prospect inventory (Corib North mentioned), but a welcome update in terms of the potential farm ins and interest in Inishkea still being live and positive. We can’t be far off getting news on this next key stage. Would be puzzled if we went beyond end of March without some kind of outcome.

Work over at no cost to eog sounds even better! Any increase in production is welcome and all helps to cover other operating costs.

Nexen “and their partner Exxon” on this well, so there could be more than one interested party.

Like you I had thought the new prospect inventory for this licence was originally expected end of 2018, but I see in the last agm presentation that it is now listed for Q2 2019 in the indicative schedule.

Notice that CLNR had to wait from Nov until yesterday for a final decision, so may be these long waiting times are not uncommon. Let’s hope it’s our turn next!

Thanks for the welcomes - appreciated. Was cautious about joining in because of the personal stuff, but reckoned more to be gained from sharing ideas/different views and could skim over the rest.

Re Nexen drill think the impact on our SP will depend on our farm out news. If we get it then suspect there will be a lot of interest in eog, if nothing then people may go more for others. If we don’t get the deals we want now, lMO it’s the Iolar result that really matters, as this could give us another opportunity. See the Providence drills in much the same way, as these could give us another opportunity if everything else is a blank. If all three come to nothing then that’s prob a pretty clear signal and will have to hope that Inishkea provides a way forward, accepting that this has its own risks and will prob be a slower journey.

New to contributing to BBS (but not to reading them!) and want to check my understanding of what’s happening as this seems like a critical year, esp in Ireland. Several things in motion although everything seems to move slower than predicted.as far as I see it they are:
potential farm in on 3 licences (incl Inishkea) approved by local region but awaiting Head Office investment decision - could be any time but guessing no later than 31 March worst case
Inishkea data room open and interest shown - not clear on timings for closing and how this plays out with the above
Prospect inventory for Cairn farmed in licence by 31 March
Site surveys being organised for possible drill sites on above licences - surveys to be in May
(Iolar drill around June and then Providence drills in H2 with major implications for eog prospects)

Morocco new project news end Feb/March
West Firsby results likely by end Feb and then possibly rolling work on other wells if profitable
Wrestle appeal likely in summer, date not fixed.
Holmwood nothing planned
Funding for planned works in place for 2019 following last Dec placing.

All of this IMO. Does it look about right or am I missing key elements or are any of the timings way off?