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Brom, I understand that arguement, but with deep pockets a Tier 1 could maybe lock in their interest and put the HRZ 'on ice' while they take the available conventional oil first?

Olddad, my own view is that any unconventional farm-out will be to the same company we farm-out the conventional oil to.

What major company (assuming its a Tier 1) would want another rival fracking their acreage while they are sinking wells to get at the primary oil? I'm assuming those discussions are already factored into the farm-out agreement due to be signed soon, hence DW already knows who it will be and roughly on what terms.

Hi spark_plug, i think all of us here would be overjoyed if your proposed sp came to fruition.

Personally I am thinking an sp of around 3p once the announcement is digested by the larger investors depending on the company involved, rising slowly once drill timelines are published, and of course spiking pre-drill as always. The one thing likely to set the sp racing is if we drill IW2 again with the Baker Hughes input, and if we hit recoverable and commercial oil then light the blue touch paper! But in all probability that will be farmed out also so less of an inpact in that case.

And that is without a return to Winx (no thanks) and a drill at Yukon (yes please), so lots more to come over the next couple of years but I wonder how many peeps will still be invested by that time as no doubt there would be a lot of selling if we got a decent sp (10p?) before then.

I'm using Beta now and it seems fine so I have ditched the old version.

'I would be very happy with 7p'

In my opinion you will need oil for that sort of price, not just a farm-in. I expect 1.5 to 2.0p on good farm-in news, and then a slow climb upwards depending on news of drill schedules, unconventional, Winx return, and Yukon over the next 12 months.

If we decide to drill again at IW2 that would be a potential game changer if successful.

Good summary SeaHawk, and mirrors my thoughts.

Although it is frustrating, I would much rather wait for DW to negotiate both farm-outs to a single Tier 1 than have a poor conventional FO rushed through and then the wrangling over the HRZ to follow at some point. No large oil company wants someone else on their acreage conducting fracking at the same time as they FO for conventional.

I am sure DW would like to get the lower acreage farmed out, and then sit back with money to invest into Yukon Gold while earning a consideration for each barrel eventually extracted from Icewine.

'Don't worry if this FO will make you Rich'

Keefy, I think a lot of investors would initially just be happy to get their money back at the moment. After that hopefully its onward and upward and we are all rewarded for our resilience in staying put during the hard times of the last few years.

Great write up Phrontist, lets hope you are right.

Just returned from the USofA where I was worried I might miss the news due to time differences etc.

Clearly we are still in the same position as before I left so I for one am quite happy about that. If it takes another 2-3 months, so what? I am here to make a healthy profit so comfortable with the delay because DW always prefers to 'fail early'. Well it hasn't failed yet despite all the time that has past so that suggests the process is still going on and more importantly the FO partner is interested enough to keep the negotiations moving forward.

Bring it home big D!

Just one drill in 2020? That's not likely to do much for the sp for the remainder of this year.

On looking at the Chevron Anadarko buy-out deal it appears to have raised the sp of Anadarko by 40%. In similar terms that would make our sp around 1.2p if it happened to us at the same respective values.

Hardly a massive increase?

Yes, agreed Islayman. Sooner rather than later would be good.

and yes - I'd take 5p right now given we have nothing proven, but would love it to be more.

'I'd settle for 50p but have to be realistic'

To be realistic sprintman I think 5p is more realistic than 50p, but I'd love to be proved wrong.

'..recent Winx drill has possibly dampened some enthusiasm..'

That's an understatement Brom. Although I certainly want the projects to reach a happy conclusion for us all, being invested for all these years was never my plan (I guess also for others) so the prospect of (perhaps) no FO news for another couple of months just makes it drag on.

If I wasn't such a greedy so-and-so I might be inclined to try my luck elsewhere, but as I am I will stay to whatever the end result is going to be.

I hope the FO provides enough capital for us to have another go at Winx-2.

I'd also like to see a horizontal frac at IW2.

Despite recent setbacks we still have a lot of potential but it may take a longer time than anticipated to realise it.

'How many on this board hold over 1% of 225M shares?'

Me.

Sounds a reasonable update to me - I'm still holding.

Only just picked up on this.

Sorry for your loss Brom.

Good post Neverlearn (and no sarcasm against others which is so refreshing for this board).

Thats pretty much how I see it so selling before FO news would be crazy, but we all know the risks involved if the FO comes to nothing - we will get creamed, but DW knows that and he has more than most to lose.

I agree, a great read BB32 - I hope you are proved right. We all need to be rewarded for our patience and support of the company through dark times.

Hopefully DW will present us with a game changer.