Member Info for ShareScare

Zag, what I know about oil wells could easily take up half of a postage stamp.
If there is a major in the back ground, then to me it makes sense that in the case of a decent strike a flow test would be extremely advantageous. I could be miles out with my thoughts but this latest fund raise has me looking at different angles.
We know, or at least we have been told that this well will be capped and abandoned but it is still being done on the structure that any production well would be placed.
Really I was just typing out loud, and someone who knows what they are talking about may have a better idea.

Just wondering why you "May" need additional funding 10 days after spud ?

Surely if this latest fund raise is for else where you need it now, why does it need to come 10 days after spud ? Why not do the full 20 million up front ?

Yakee, IM had a job to go to in Feb, that was cancelled. Nowhere to go until May

Zag, just another view point, we were told we were fully funded. This latest fund raise came out of the blue.
10 days after spud enough may be known to make it worth doing a flow test. Imagine a decent strike and the difference a flow test would make.
I dont have a crystal ball, but neither does anyone else here.

10 days after spud. They may know enough to need extra funding
Ice Max has nowhere to go after P1
I read it costs around $6 million to do a flow test.

Just the other side of the coin

6 am arrival on site

Not far from the Cronx

alrite alrite cam down

In 2010 yes
A decade later no

Joatman with respect you had no case to rest. You dabbled in semantics, its ok we all do now and then.

I guess they know the JR is getting kicked out

https://thenassauguardian.com/an-open-letter-to-the-prime-minister/

Ok joatman let me expand on what I said. The Ice Max is currently anchored not far from Freeport and has had supply vessels along side for the past couple of days. There have also been several helicopter flights to and from the Ice Max.
There is a supply vessel along side Icemax as I type this. Once we are loaded we are off to site to spud.

It was established some time back that IM would not be going into FP as its draft was to big.

Joatman, that is semantics, the IM is anchored not far from freeport and is being loaded with supplies.
Not technically in Freeport, but near freeport getting loaded.

Always had her down as a STOCKing girl

IceMax, they are guaranteed that profit, they will get their 15% even if there is no oil. They will not dump those 100s of millions of shares until they learn the results. They will make 15% on a loan in 2 months or they will make 1000% on that same loan in 2 months.
This bet does not even need hedging

Ice Max is still anchored with supply ship alongside

Cars I see no evidence that those shares are being dumped. Why should they, you have asserted yourself that they can not lose.
Logic dictates that if you have 100s of millions of shares that are risk free, you simply wait for results. You do not lose no matter which side the coin lands. I know I would be holding those shares, 15% or 1000% its a no brainer.

I wish someone could "reasonably withhold" Roseannes oxygen supply

Contracts are contracts Roseanne, they do not rely on anyone being for or against, they do not rely on trust or fairness. They rely only on the legality of the said contract. That's why we are on our way to spud P1. Contractually we are fulfilling our licence obligations. But you knew that anyway

"If BPC has met its licence obligations the grant of a production lease cannot be unreasonably withheld. Any such production lease would give the Company the right to produce petroleum from that production area for a term of 30 years (and with a renewal right on application thereafter)."

Fatal, I think he is referring to the TW article, I guess dot coms are classed as the press these days.
In any event judging by the way the SP has been played with today the FCA do not appear to be watching