Your going to have to show me wellwell, the worst I posted was that I thought there would be a cash call imho. What's wrong with that? By the way, I nearly bought in to nano at 7p but my own opinion, right or wrong, about a potential cash call, stopped me, but never say never.
You really should stop trying to repeatedly tarnish my good name with scurrilous remarks. Any more and you will be reported.
"You disagree on the rest? Is that until the next failure?"
I get your negativity wellwell, after that hit on nano, I would be being negative and ultra cautious too, can't imagine the wife's too happy with you either.
But, since you don't have s crystal ball, you don't know Lincoln Crestal will be a failure.
Anyway, you have declared yourself out and since you chastised and admonished me for posting on a board that I was not invested in, I presume you will follow your own advice here and let us that are invested, get on with it?
Great question! Most of my buys are in £30k tranches, since
1] larger tranches commanded a higher Ask price
2 ] yes, it is difficult to buy large volumes in one transaction, even if one wanted to.
Funnily enough, it was easier to sell on Friday morning than buy this morning, took me a good half hour and I could never have bought anything substantial at sub 43p. By the time I waited we were up to 44p and I decided to bite the bullet and start buying.
First time doing all that so a bit of a lesson, anyone got any advice for similar events in the future, would be interested to know thanks.
Couldn't agree more wellwell on the reward / risk return on WD, was not looking good, reading the tea leaves, which is why I sold out my entire holding on Friday morning, probably contributing to the ensuing 7% drop.
However I disagree with you on the rest and pleased to say, bought back in this morning at around 45p avg and increased my shareholding to just under 1.9 million shares. Onwards and upwards.
They wouldn't be the first company to deflect a cash call and then a few months later, and long before the cash really starts running out, seek to raise more.
More chance of raising cash when not truly in distress, so this is a factor, imho.
And also, imv, when the cash call does come, it could be at a substantial discount to today's drop. Very high risk.
Indeed, as I understood it from the AGM, there was lot of legal work to be done to prepare the Prospectus for the U.S.market.
That said, surely it can't be rocket science? These sorts of documents must be drafted up all the time, so how long should it take to finalise them?
From there, I got the impression from CF that he was hoping that they would be placed soon thereafter, don't know if anyone else at the meeting can verify that?
Foresight, pretty sure any price sensitive information that might be discussed at the CMD will be released in a 7am RNS.
With regards to who can go...
"Inviting analysts and investors
A capital markets day will typically be announced in advance, and the company can choose to invite both analysts and investors. Generally, investors are also invited to a a capital markets day , whereas when the company only plans to invite sell-side analysts it will be called an analyst day. Many larger companies hold a capital markets day annually, and webcast this through their website. It is common practice to post the (slides of the) presentations given on the website."
It should be possible for (significant) investors to receive an invite and I would encourage the BoD to extend an invite to a few shareholders.
Indeed. IMV, this is a very important day and will likely be led by a 7.00 am RNS since the CMD will almost certainly contain price sensitive information.
Before then, we should have a Warwick Deep RNS but the critical one will be the CMD RNS and dissemination of whatever Hurricane elects to share with us.
All pointers indicate good news, maybe even better than good. Imho.
Bloobird, it's 30,000 barrels a day.
From the EPS-ES (look back at my recent posts for a link)
"During the six year life of the EPS phase, the maximum oil production rate will be 4,770 m3 (30,000 bbl), constrained by the processing equipment on the FPSO (Section 3.4.3). Although there will be some variability below that maximum this, as the worst case scenario production rate, is considered here for the purposes of this assessment. Based on the analysis of samples from the wells drilled to date, the Lancaster crude has as a gas to oil (GOR) ratio in the range of 342.5 to 405 scf/bbl. Based on this range, the amount of gas that may be produced in association with the Lancaster crude each day of production is shown in Table 3.10. There are still uncertainties associated with the GOR and therefore it is not possible to provide more definitive calculations for the amount of gas that will be produced until further samples can be obtained and analyses completed. As a further result of these uncertainties, it has been necessary to ensure that greater volumes of gas than those anticipated from this highest GOR value can be accommodated by the vessel processing systems. Therefore, the highest GOR has been increased by a further 15% (465.75 scf/bbl) as a contingency measure and this has been used to inform the design of the FPSO facilities, specifically the flare. Table 3.10 Predicted quantities of gas produced in associated with the Lancaster crude Gas to oil (GOR) range for the Lancaster crude Low GOR scenario High GOR scenario Gas to oil ratio (GOR) (scf/bbl) 342.5 405.0 High GOR plus design contingency Oil production rate (bbl/day) 405 x 15% = 465.75 30,000 30,000 Oil production rate (m3/day) 30,000 4,770 4,770 Associated gas per day (MMscf/day) 4,770 10.3 12.2 Associated gas per day (m3/day) 14.0 291,785 345,609 Associated gas per days (tonnes/day) 396,601 314 372 427 Although the amount concerned may ultimately be lower than anticipated for the reasons explained above, for the purposes of this assessment it is assumed that up to 14 MMscf (396,601 m3) of gas per day may be produced as a worst case scenario. To note at this point, this rate is further constrained by the maximum continuous flaring capacity of the FPSO, which also sits at 14 MMscf of gas per day (see below). "
"Hurricane’s final licence Hurricane, which sits outside GLA and GWA holds a 2C contingent resource of between 179-205 million stock tank barrels of oil."
I think they mean Whirlwind, and it's Lancaster EPS, not EPC, but otherwise, a decent summary, thanks.