Member Info for somm

No. Not allowed to delay news of a discovery/ TD results for a month.

News imminent 1,900m TD - should be there already imo ??

How long to TD?

Can't be too long now?

Has a 1,900m VTDSS target. IF the drill bit was turning at 35m per day we'd be there by now, which is slow going, obviously there are some casings to take into account (10 days - three casings?), but even so I reckon we're not far of TD.

Will be able to add another 1B barrels?

If so, then we'll soon hit £1 per share with oil flowing to boot. imo.

Exciting times ahead,

54 days

Seismic on the WC should be completed at the end of this month, which will have taken over 4 months as I'd said it would. This timeframe was scoffed at by our resident ramper.

MMB you can apologise now.

Spud Q4.

Hopefully some money back from this disaster.

I initially invested here on the back of a 50% WI and 1k production oe and a 500m oil column with a 120m net pay that was potentially a Company maker, transformational.

Now I'm invested in a Company with nothing but a 19% WI and a 4 well flutter.

Just to put things in perspective.

Good point Cervelo.

There will definitely be a placing on the way.

$15.6m years end less seismic cost/ other - they'll probably have around $7m left by the time seismic is finished.

They expect each well to cost between $2m-5m to Echo - that's $8m-$20m through the 4 well drilling campaign.

I expect several hundred million new shares to be issued this year..

Seismic to be completed around the end of next month so a capital raising not too long after as they'll want to be fully funded. imo. Note, they never said in the RNS that after the restructuring they would be fully funded - an normal caveat after such a chopping off of dead wood.

Am I right in thinking we have zero income now from any gas/oil wells to boot?

From 500m of potential oil (120m net) to zip.

TA per 1TCF worth $190M, but that would need proving up over time with more wells. I had it down as approx., 73p per share per 1TCF, now looking at (with dilution) 20p.

A potential multi bagger from here, but not so much for those tranches that folk bought in at much higher prices - I've bought in chunks from 18p-3p and will buy more only to sell out once (if) over 10p.

TA had better give one hell of a freaking BELCH!

That's over 4 months to do the Western Cube as I said it would take.

Who was that nob who said it would be all done and dusted within two months?

Me too 18p

No doubt placing coming this year, Q4?

Seismic another two months then, whose the nob who said cube two would be wrapped up under two months?

Anyway at least I can buy 90% more shares than before :-(

I would expect consolidation this year.

Does anyone know the expected TD timeframe?

How deep is TD and how long to drill this well, anyone know?

Is first oil expected this/ next month?

80% down and have topped up to get that down down down..

And funnily enough I've just been listening to Simply Red.

How apt....

ELM1004 - how long does it take to redesign the well to make a decision to frack or not?

Glacial pace.

18p to 3p geez!

Anyone got some spare beans on toast?

The major had 4 months to research the data room and did a runner after only three months.

The RNS confirmed this i.e. Terminated Negotiations...............we are now looking further afield for other financing/ partners.

Let me know when the penny drops - though it's been 9 months since they started their research and 6 months since they abandoned ship........so if it hasn't dropped by now I suspect it never will.

I that has happened is the licenses were extended which were never in doubt......by me.

Who's going to spend a another million bucks?

Potter's going to have to open the data room for free if he wants to attract another major.

Which no doubt pi.. the last major off, unless they sell on, oh but they can't!

Massive structures/ 35% CoS...

Why didn't the major sign on the dotted line? They could have sold their WI on to whoever then...

Ray,

Potter said with having a 35% CoS given it's pretty much given hudrocarbons are there, but when the Major spent only 3 of the 4 months and ran said it all to me, I mean whos going to operate twice on a dead cat?

No difference from the last license extention.

Drill a well before June 2019 - tick
Can extend the license - tick

Blah blah blah..

4p on Regs passed 2+ years ago.

Down to 0.005p

Up again on license extension same old same old.

Why did the Major do a runner 6onths ago?

Why have there been no other Companies come forward since?

If you listen to the rampers they're all sat around tbe negotiations table!

There's nothing new here, seen it all before, move a long the bus please and wake me up when they get a partner.

I think everyone has moved in it's been that long... wwwaaahhhhaaahhhaaaa!!