Member Info for spike912

A MOU is not Legally binding, as isn’t heads of terms (similar), any party can walk and as I understand from MOU I have worked with in my own business you don’t need specific walk away clauses to terminate as it’s not a legally binding document, rather a gentlemen’s agreement if sorts

VerbierDave, thanks, I’m new to charting and only now getting into it (slowly) but as you say aim is always hard with charting Thanks

11p on the board, be great to push past that today. Anyone charting this now?

11p :-)

Pyrotech, with the greatest respect is this any different to certain other individuals on here? Dont take it the wrong way as it’s not intended that way, and I am by no means sticking up for the likes of joeking, mjones and the like, but....certain people here can’t preach when certain people on LSE are just as bad. I suggest the filter button until this is all blown over :-)

Remeber dividend is nett profit after all costs, which may or may not include field development, and associated pay back, so we could be a few years away from any real worthwhile dividend. I think someone did a rough likely calculation for mid term and wasn’t much more than 1p a share (sorry can’t remember the poster but was a very good post). Value short term will be in the results, dividends whilst nice will be a long term result

Without running the risk of being shot, I wonder if the Nomad resigned because Zaza and Steve N breached AIM rules and therefore their fiduciary duties also? I also wonder how quickly will YA move now to protect its money. Would YA would have known the situation earlier than us, and by putting FRR into administration would see OMF paid out ahead of them so that’s why YA settled? There is a good chance it was YA dumping the 5,10 and 15m blocks of shares. YA can't do that anymore. YA will be looking to grab anything not secured to OMF. Just some Sunday morning thoughts running through my head over a coffee Please don’t think these are right!! Just thoughts and I maybe miles off the mark!

So why you still here mapp?

And don’t forget we are looking at the recovery of $10mil from SMP. Would be nice to know timescales on this as it could mean the difference between a raise and no raise.

DM2000, yes I believe that’s correct. Half day tomorrow, and back to normal Wednesday 2nd :-)

Albeit it’s nothing we don’t already know, but thanks joe for sharing

Forget my last post, just seen it, too early still lol! Shame we only have half day trading tomorrow!

Sorry guys what news? Has the post been removed?

I think we need to make sure they flow first before we all get too carried away, as it stands, and what’s been officially announced is oil and hydrocarbon shows, but until we know quality, flow etc let not get too carried away (as easy as it is to!). We may need, for example, pumps as yet which would again add time and cost, depending on down hole pressures. Quality will be very important as I am hoping they won’t have too much water coming back up the whole. Whilst I’m VERY confident I’ve been caught before with the likes of zenith energy, so as much as I’m finding it hard to not get carried away, results will be key from wire logging, then we really are truly derisked

Jester, I think it’s a given a small placing will happen, well, I say placing, it will depend on this well. If 103 flows it will no doubt open up institutional lending, senior debt rather than using the likes of sandabel. We would also have a revenue stream, so whilst some form of raise may happen, it will be 1) after this well at which point the share price should be a lot higher, 2) it should be small and chances are we should be making cash and 3) with the security of the asset there is the possibility of lending from institutional parties who may, for example, take a peace of the production of a well. FRR have done very similar But, key is, well TP 103, as this being a success opens up a lot of non dilutive options to the bod. In summary, do I think there will be a placing? Yes likely small to complete this well, will I have an issue with that?...not at all. Good luck

Jester, I would probably suggest you do some research

That would explain the twitter communication from DS re exclusivity on an asset they are working on. Mohoney, someone did post some permutations a week or so back, from memory the range was about 1p on lower end, up to around 7p on very best case, but hopefully that post will be shared again Dividends could come sooner than we think after next week

TT agree 100%, just want to see wire logging now as all we know is hydrocarbon shows, which doesn’t always mean flowing, and quality so I would say next week is the big one, step one with the drill done, step two in progress then anything denjo is a bonus! I have a feeling that’s why we haven’t seen the rise we expected

@steadygrowth, my bad just seen it now I’ve looked again. Was just going through half year results RNS which looked as if update was due, but bigger fish to fry now. Fingers crossed they started logging around 26th December so not inconceivable to have results end of next week Hopefully David will do another interview next week

Normally I would have expected sight of the analysis within an RNS?