Member Info for spike912

Tiburn I disagree, I would see that as sensible pre planning, we all know we are drilling 104 regardless of outcome of 104

Some very good posts here this evening, good reasoned debate now certain individuals have left. I share stredygrowth comments, and if anyone has DS email I would like to convey my own; - situation re funding for 101 and 102. Is the plan to come back to this at a later date with the aim to find from internal income off the back of well 103 - estimated drill costs for well 104, and funding. - given we have over spent on 103, and are now looking at $14mil, (taking into account a rig on a substantially reduced rate), do we see next wells costing similar - if the answer is no to above, why have we spent so much on 103 (granted some issues we know of), and why do we need over £4mil to complete this well - lack of transparency on funding splits and use of capital raise - when was denjo drilling commenced and should this not be successful what is the plan with the well and vijni

Euclid55 I believe it’s about the accuracy of their geology and sciesmic data so far, half meter out on R and 3m on mengo and that was only due to thicker pay zone. An accurate model is a big postive for dengo

Very well summed up steadygrowth I share those thoughts

TipTop, not disputing those facts at all, and your post is spot on, totally But we can’t hide behind that with other unanswered questions as I’ve previously posted Personally while I believe the bigger picture as you say it worries me with many questions remaining Too many whys for me and I feel DS is relying on those very valid points you raise Tip Top to avoid be asked some difficult questions (as I’ve posted) Overall, happy of sorts, but also have big questions I’d like clarified

Madchatter they haven’t raised for 101/102 so that’s another story for another day

Mengo alone is great news after all my moaning so Let’s not lose sight of that in all this As long as get good flow rates, dengo is pure Brucey bonus

BH say yes, we are off to the races. BH says no we are fecked and have no cash and near on being liquidated Not sure what binery is if that’s not binery ;-)

Federmm imo we will naturally get the sell brigade out, but can’t see much lower than now, and them once we get flow rates from mengo (say 700 bopd) we will be flying again and into 104 and all this forgotten. Mengo alone makes aaog profitable You’ll just get the impatient leave and the sensible will see the bigger picture

Supposedly $4-$7mil per well but I’m sure others with more knowledge will correct me, but that’s what I had read

I believe it was around 25%, maybe slightly increased now with the current geo data but best case 50/50. Personally I do feel confident in denjo given how accurate geo has been Not sure why he’s looking to update by end of minth however given it should take only 7-10 days to drill and we must be a few days into that now already Soon see!

Federmm who knows, just hope other wells don’t cost 14mil with a reduced cost rig or we will never be making any money ;-) Apologies if I come over moaning (to all), just discussing what I feel are valid questions, sorry if it comes over as a winge, it’s not intended to!!!

Flightmann, I didn’t say insignificant simply not share boosting news. I guess we will see whose right tomorrow buddy ;-) Re aaog, your right but it’s not binery over there as it is here for now. Got what I’m comfortable with sitting here this evening for now GL

Theiceberg, very valid point. All I would add is the rig is supposedly on a substantially reduced day rate and we have now spent £14mil on TLP-103, 50% over run That’s what I can’t understand $1 mil contingency from the $7mil is a 15% contingency Use that on the £4.25mil today gives £637k contingency (using same logic) but arguably at this stage you should be a greatly reduced risk profile so I would expect this to drop to at worst case 10%. Leaving north of £3.5mil to finish this well Appreciate your thoughts, or have I oversimplified?

I would imagine they have a stable well at mengo but deeper you drill more risk is naturally involved. Failing at denjo which is supposedly a better zone, I can’t see the point of spending money for a lessor COS zone with pure exploration. They would be better monitising mengo and focussing on TP 104 and maybe look at vanji at a later date with internal funds or other forms of non dilutive debt given vanji is a nice to have rather than essential to give aaog substantial income

Jimzi not to the tune of 60mil shares imo. Thats some going on out volume and pattern of trading over the last week or so, but who knows!

Drewky I didn’t think if denjo failed they would drill further? DS would just produce from mengo and not risk the well? I always felt vanji was only an option on successful denjo. I wouldn’t want them risking well stability on a total wildcard low COS zone if a higher COS zone in denjo hasn’t been hit? Just thoughts doesn’t mean I’m right lol But, again, why not say that in the RNS, then we could understand the thought pattern and be more comfortable, all it does is create questions

Flightmann (sorry poxy iPhone!)

Fooghtman with respect there is price sensitive news and price senstive news. This wasn’t “material price sensitive new news” imo. It’s a slight update to what we knew, hence the last presentation didn’t motor the sp and hold it, not massively increase volume Presentations on what is proposed (please Mr BH can we have), won’t cut it with the market in bearish conditions. It’s in effect no news, it’s what they want and the market won’t value “what they want” They want the BH RNS, then people will take positions for sale of TI. That’s when the buying will happen imo

JohnHenry if that’s the case they should have made licensing as part of the raise split on the RNS, we could have all understood that. Just seems a lack of transparency and guess work for us all