Member Info for Serif

Bit out of the blue that one. Still a neat little farmout that breathes a bit of life into a UK licence that looked like it was dead. Of course saw farmout in the title and thought it was Tunisia ….Maybe that’s for tomorrow and Sarawak on Friday?! Waiting hopefully or should I say “looking positive” now? :)

Another chunky 2 million trade showing up. Suspect it’s a late reported buy actually from 1208 - which is why the Ask jumped at that time

There are many possible theories that could fit - some positive and some negative - but at present all we actually know is that there are some large buys going on and the SP has been rising for some days.

Pictures on Twitter of ongoing operations. https://twitter.com/MightyBelle68/status/1427563824501039106?s=20

Looks like we may near this week or by next Tuesday (24th). Community liaison meeting now set for that date with “an update on the PS”. Also contributor on UJO board quoting a reply from Mark Abbot confirming that coiled tubing operations have commenced at Wressle.

And a couple of big buys this morning which looks encouraging.

@biggleswerf. Deliberately vague, I fear. No one knows if it will be next Monday, next week or next month! Seems to depend on a CT cleaning process and no one outside the JV partners knows if the equipment has been or is on site or is still on order. Clearly they are trying to keep control of the timing of any announcement, presumably to ensure that they can do all and everything necessary to reach the target flow rate (or higher) before giving figures to the market - they have all been very bullish to date about achieving these. I get their concerns around release of interim figures, but it’s still a frustrating wait for PIs.
We also don’t seem to have anyone counting (or at least willing to report) tankers arriving at site which would be another indicator of progress.

Can’t remember when I last saw one as big as this here. Interesting timing!

“Few more tomorrow hopefully” - not sure you’ve quite mastered the language of ramping yet!

Yes god forbid, Tacuma. But then I’ve also heard a rumour that not every poster on these Boards always owns shares …

@Tacuma. Can’t see that the EDR board has anything extra on it from reliable sources. The money thing looks like pure negative speculation and seems very unlikely. Probability is that the delay will be equipment/clean up rate based. We will know soon enough for good or bad!

Sounded a lot more confident about EOG position than I can remember - no doubt helped by oil price, the performance of current assets and Wressle progress. Particularly if all goes well with Wressle, and Morocco farmout talks over the next few months, we could be in really good shape to make our “new acquisition” (if that’s still on the cards) and hold our position for the clincher which could be Ireland.

Soun

@mikemike. Sarawak now has its long sought after independence on oil and gas issues which are handled by Petros and their own State Government. Don’t think the resignation of the Malaysian minister for resources should impact this.

Wressle more than doubling our income will be a great boost for EOG. - and for that we need to hit around 350 bopd gross. We get the full 500 even better, the cash should start piling up quicker still - this is big income for a minnow like EOG. Need to be careful not to raise too many expectations of very much higher numbers as all we have from the modelling is “in excess of 500” - all the other figures I have seen 710/1000 etc seem to include the potential flow from other reservoirs that I don’t think we have targeted this time around.

On the likely timing of these, MA was clear when he spoke to the liaison committee back in March that these would be known in a week after the PS was completed - ie any time from now onwards this week. However in the Egdon version of the last Wressle rns he says he looks forward to updating on the impact of the PS “in the coming weeks”. So perhaps some room for flexibility over dates (as always!) but for us shareholders all we know is that the results could appear at anytime.

@GP. The most recent pictures I’ve seen on Twitter are about 6 days old, so wouldn’t be of much use in judging what equipment has been moved on or off site since then.

Looks like good timing on Morocco progress with the Wressle result expected any day now.

@Tacuma. Fwiw Egdon originally told the liaison committee that they would know the flow rate a week after the squeeze.

There’s the confirmation rns. All done successfully and packed off without causing any disturbance or problems locally - within the revised timescales given. Now we just wait a few days to hear the all important post squeeze flow rates.