Member Info for Soundingoff

Nothing has changed, the downside is limited, upside is as good as it gets. We'll just have to wait to find out about everything in-between.

It'll be very useful as normal, whether you're positive, negative or contrarian. This is people's last opportunity to ask questions prior to drilling. Who wouldn't want this opportunity?

Come on trellis, these knee-jerk responses are becoming more ridiculous by the day.

So you're telling me you already knew:

- We're spudding next week
- The precise details of the TE9 drill including timescales
- Processing of the seismic should be done by the end of the month
- TE11 will target the Palaeozoic and the TAGI

A genuine investor would expect an update like this prior to a significant event like the start of the drilling phase. It's called being an informed investor.

The historical charts tell us it's looks pretty easy Urraca, but we'll just have to wait and see. When the sharp drops are on very little volume like this time, they usually rise very fast on little volume also.

Unless you live in a bubble, it's fairly obvious Shaun. Go and look at the FTSE and the stock market in general. There are huge SP drops across the board. But of course you know that already ;)

If there was an offer on the table, we'd be having a conference call not a one way address. At least that would be my expectation.

Apologies, that was sarcasm. Every time big trades are mentioned, it's JP apparently...

I was waiting for that Shaun. Is it JP again?

Don't be ridiculous luckyman. I doubt OGIF could sell even if they wanted to due to being an insider.

The simple fact is if you take out the panic seller when we breached 32p, buys outweigh sells. The same strategic action again and we fall.

It's impressive stuff to watch, but not enjoyable when you're a shareholder :(

It looks like there's a concerted effort from the off today to trigger stop losses below 33. I won't mention L2 as the post will probably get deleted ;) Be careful if you have any set.

There is no need for it to count if our stated aim is to drill and sell, but they may want to sign off the obligation for a future buyer. Although it seems a tad irrelevant for any buyer of size to be honest.

My own view is we are taking it slowly on purpose and that it is either:

because we want to make sure we have the Palaeozoic analysis done so that if TE9 hits the Palaeozoic, we can use this for leverage on sale or to aid the drilling of TE10.

or

an agreement of some sort is being worked on.

Of course it may just be how long it takes. Every day we're closer/it'll take as long as it takes etc etc.

Probably because some of the posts were discussing L2 and the posting of live data is not allowed. Although the data we were discussing wasn't exactly live.

Very funny Shaun. It has nothing to do with being a yes man and more a basic use of eyes and ears ;)

There was a whole section on the Palaeozoic. Both TE9 and TE10 will target the TAGI and Palaeozoic. No need to moan, as we have the best of both with these drills...

It certainly wouldn't be a good thing to broadcast your minimum value, but the reason why they don't comment is that that would qualify as investment advice and under listed company rules, the Board are not allowed to do that.

And that's what is interesting about this partridge. The internal machinations often don't match with those externally. They decided to sell in March, but when did they begin talking to suitors? Officially it was December and so they were technically sold in a few months. The reality may have been a few months more on top if you count unofficial discussions. AS JP said, PIs will be the last to know.

partridge- That's incorrect I'm afraid. It only took 3 months for the first offer to come in, maybe a matter of weeks behind the scenes. Another 3 months of counter offers ensued and then they were sold.

My expectation is that our data is already out there, and so successful drilling (or not) will decide our timescales. But as ever, we just don't know. JJ said the 'for sale sign' was definitely up, but has anyone put the phone call in?

Agreed ajb. There's no denying drilling is a risky business and clearly all investors must accept the possibility of failure on the figures quoted. Saying that, from what I've seen and listened to from our geologists, the COS figure is just that, a figure and cannot fully explain the complexities of the drill. My view is that in terms of a basic chance of success, odds if you will, the geologists are more confident than 31% because so much is know about most of the variables within the calculation. That's only my observation and thoughts though.

We don't know. It should be very soon given where we are in the rig transfer process and rig up. Permit dependent possibly. You'd have thought we'd be ready to go for the Morocco trip (just over two weeks time), but we'll wait and see...