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Great, W69, let's use a post with some positive outcomes from the last RNS to spread false rumors. Good job there, mate.

Looking at the MDs disclosed yesterday, they have hit the largest section of the reservoir to date, larger than Elgood and Blythe H1, and at a depth that it is between the two previous wells. I think it is very positive and I expect better flows than H1 could achieve before the problems began. With the water ingress problem solved, Elgood's condensate-rich gas will flow again, now we only see Blythe now. Yesterday's news were better than I expected, they finally are doing something well.

I said at the beginning of the year, the focus of the company shifted from Utah to the Rocky Mountains, so it is very unlikely you'll see any gas or oil production in Utah for a long time. The investment in the gathering lines and gas reception plant are not going as fast as one could have thought last year when everything seemed imminent.

Management has a very small position, that is the most odd thing here

The NBP is very far from the level it was one year ago, that's impossible

Besides any running costs they have to repay the $1 million loan from Shell, how are they going to pay or renegotiate it? Another placement would destroy any value left in the company. They have 2 or 3 months before the loan is due, enought time to sell everything and cancel the debt, I'm afraid there is little value left for shareholders, apart from the CEO, technical director and CFO, who earn £595,000 combined, such a lovely income for a company without any cash generation.

It's a pity the compay is managed by amateurs, the deal with Rapid Oil is nor valid as they failed to renew the license. It's time for the company to begin liquidation and sell anything that is left at the highest price possible.

(insert meme of the celebration of a third position)

It was obvious that the language was tricky, Turkey never confirmed anything, they are who have to pay a huge compensation to Iraq and are the most interred in arranging better conditions before reopening the pipe

The language is tricky. I'll inform my neighbour that I'm buying his home for 200 thousand quids, I hope it works.

I thought that 0 boepd would seriously affect the investment thesis. I also believed that instead of a dividend the company shall prepare for 1) longer than expected production halt, and 2) grabbing any M&A opportunity that presents to increase production in the short term. The last penny in the balance will help to overcome both situations. BTW, deals usually take many weeks or months to close, they may be urging to close a deal now, but the process will not be over until all signatures are on the paper.

It's difficult for me to understand that under the current export and production halt, the company still proposes a dividend. In addition to this, they will begin the drilling in Somaliland, which will draw some cash. I expected more caution from management as the end of this situation is yet unknown.

Chicken Little speaking, I told you so, this would take a loooooooong time and fines are not yet off the table

·Q2 2023: 52,000 bbls at an average US$86.84/bbl
·Q3 2023: 45,000 bbls at an average US$83.57/bbl
·Q4 2023: 40,000 bbls at an average US$83.42/bbl
·Q1 2024: 27,000 bbls at an average US$82.20/bbl

In February they said: "The Company has hedged 157,000 barrels of oil over the next 15 months (starting 1 January 2023) at a weighted-average price of US$86.89 per barrel." So new hedges are a little bit cheaper than the previous ones

*36-2

My 2 cents, look at the LinkedIn profiles of all experts involved in the response to the 35-2 incident that are included in the last presentation and let me know if you see that all of them confirm a relationship with Zephyr.

There have been many quotes from KRG and Baghdad official since the shut down. I'll believe it when the quote confirms Turkey is part of any agreement.

Very nice update today, regarding the relationship with the oligarch, they are trying to move ahead

This restructuring involves ceasing to sell gas to LLC Smart Energy, and, in the future, selling its gas directly to its off-takers, and assigning the receivable liabilities so that these are directly recoverable from the relevant debtors

https://www.nortonrosefulbright.com/en/knowledge/publications/0af5e6a5/iraqi-supreme-court-casts-doubt-over-legitimacy-of-kurdistans-oil-and-gas-sector

If the Iraqi government enforced the 2022 ruling, GKP would lose the licenses, so it is even worse than with ISIS.