Member Info for somm

What are peeps thoughts wrt the length of time it may take to sell their African assets etc.?

2 months......three months.....and why?

It's been 12 months since the discovery, why hasn't a partner been found yet, why hasn't Hilcorp/ Conoco or BP even or other Major made an offer?

Twiddling their thumbs for twelve months...……. and now every oil company will be tightening their belt for another 12 months.

Infrastructure is there, 1,8 billion OIP...……..what's been the problem?

June -August window spud-TD.

If the coronavirus renders this well impossible to spud then the BG will surely have to extend the spud to next year due to Force Majeure?

Just watched Horizon about the Coronavirus, it to 5 years to find a cure Ebola, 3/4 months according to researchers is not going to happen re a cure fore this killer virus.

10 million barrels per day are to be cut by OPEC and another 5 million barrels from countries outside of OPEC is expected and possibly announced tomorrow from the G20 meeting ,plus shale decline from US, so we're looking at 15+ million barrels coming off the market for the next a couple of months.

I will help some in the short term.

Also re CLix-1001.

Will they delay news until after 1 May?

Testing of this well has taken over 1 month thus far and still no news?

Get the Note deferral out of the way and then announce a duster/ success?

If it was good news you'd think they would have updated the market helping to underpin the interest deferral payments to 2021?

Am I right in thinking if they default on the 2020 payment then the lender will receive the amount of shares in issue?

''Additionally, the Company is also proposing to grant security in the form of a share charge over 100% of the shares in Echo Energy Argentina Holdings Limited. Such security will be shared pari passu between the Noteholders and Lombard Odier Asset Management (Europe) Limited in its capacity as lender under the Company's EUR 5.0m 8.0% secured convertible debt facility (the "EUR 5m Loan").''

Really these 4 wells come in month end.

The thing is after they've been drilled/ acidized further development will grind to a halt as the only available team will move off site having worked over their contract 14 days on (28 days).

If they can remain into May great, if not the share price will bomb as everything comes to stand still I.e not even more barrels / OIP will save the share price innthe coming months, especially with global oil capacity peaking I.e a further crash in the oil price $10 bucks could be around the corner.

Just saying.

First oil by year end?

Funding/ partner by end of summer?

A further crash in oil prices is on the way no doubt as global storage space nears capacity, shouldn't effect us too much not being a producer yet, getting approvals and permits and funding are what will drive the share price up between now and year end so possible multi bagger from here.

It's going to take a couple of years to see oil at $60/$70+ again. imo.

When the Saudis/ Russians have eaten well into their cash reserves (first to blink) will we see them get together to renegotiate output per day. This madness won't last as their economies will collapse, Saudi need $90 pboo to fund it's self to boot.

Just chewing the fat.....

Yeah, good to have been paid and looking to be cash positive.

But where is the well testing news?

They've got the money to continue with testing which was in doubt 17 march, and I would guess testing never stopped.

So is it a duster or not, been testing since 6 March?

Began on/ before 6 March.

17 March - might have to delay testing?

24 March - are they still testing a week later or not?

Would be nice of them to let us know.

No doubt another cash raise is on the cards, just cutting costs won't do it.

Ojay,

Did you not read today's RNS?

From today's RNS.

"The preparation of these documents is already well-advanced, and we are pushing hard to expedite the approval process and to secure the Exploitation Licence, although we expect it will take 'A NUMBER OF MONTHS' for the Government to go through its review procedures."

I said a couple of months being kind.

...we'll have to wait a couple of months for the Exploitation License and with Covid-19 expected spike in the coming months todays news will no doubt fizzle out and we'll see a further drop in the share price to boot. Down a ton here, but hoping summer will see us start moving back up on the back of drilling again.

From the 6th of March RNS:

Campo Limite Testing Update

''The Company looks forward to updating shareholders on testing operations at the Campo Limite (CLix-1001) well at Palermo Aike, which are now underway''

They've been testing this well for at least 11 days, surly a flow test result should be know now/ by Monday? They have access to one million plus more oil/gas cargoes, so testing for another week is covered, imo,

They indicated in this mornings RNS that they are still testing, what's another week of testing on an extremely important well?

If they can't finish testing this well then I'm not going to hold my breath for another well spud anytime soon.

Let's pray they get more dosh, guv helps out with domestic gas price and this well comes in.

Fukc a duck!

Holy ****!

Just got home and we're 73% down!

Is that with or without a duster?

They've been testing the well for two weeks and now they're saying they might not have enough money to finish testing it, they know it's not flowing commercially. Imo.

In other words it's a duster.

If they announced another duster now where would the share price go, hence the real reason for the potential delay?

Ten's of thousands invested in here now worth zip.

24% down?

Whatever next, a duster to boot?

What's another 28m million shares going to do?

Yeah, but what whiner!

No news yet re Lincoln testing extension, half way though the month so news mustn't be far off. If they say okay then we're off the blocks again and a new CPR after testing has been completed.

How can the OGA say no to potentially upping the size of the reservoir?

From Friday's RNS.

''The Company looks forward to updating shareholders on testing operations at the Campo Limite (CLix-1001) well at Palermo Aike, which are now underway.''

Note the 'now'.

So another week maybe two yet for results. imo.