Member Info for StanleyUK

I do respect the posts from RightOn, and it is useful to leverage the knowledge of those that have good communication with the company.
But my problem here is that the company shouldn’t rely on private shareholders to be the only cheerleaders. Feeding info to one person is amateurish. If there’s something to say, say it to all. This doesn’t have to cost much. A simple YouTube video explaining the process can be created in minutes.

The Twitter posts are ok, but it’s important to see the faces of the company, as it’s these guys we invest in.
As someone else mentions, silence breeds fear and uncertainty.
I’ve no doubt that there is a lot going on behind the scenes, but communication is key.
Whether here, ADVFN, or the Telegram group, people are crying out for communication to be improved, and it seems that RO is the only one saying “trust them”. Shareholders should be listened to, as there are plenty of places that funds can be reinvested.

We all generally agree that dilution will happen in order to raise funds for the project, so it should be in everyone’s interest that the price is kept up in advance of this. Momentum is key.

RightOn, I’m sure your intentions are good here, but many of us are seasoned investors with our fair share of evaporated wealth. I’ve been in a number of companies with a “happy clapper” brigade, and where knowledge personal relationships have turned out rather sinister.

Investors should not have to queue to speak to the board for info, and burden them and waste their available time. If there’s something to be said to one, it can be said to all through more efficient means.

I guess anything is possible. But Martin has been selling for over 3 weeks now, and I cannot believe that the Company would sit on information for that long and not release to the market.
His holding is well in profit, so maybe a justifiable sell to rebanace a portfolio?

I guess we will know if a few weeks time!

This is a great update, RightOn, thank you!
I would like to see the company take a more proactive appraoch to communication though, and this new flow should be coming from the Company, and not a PI.
They have been active with the Twitter posts, but they could easily have accompanied the posts with these kind of facts.

To be a big company they need to think and act like a big company. A few video interviews with Blythweight et al will reach a far wider audience. That's the best way to spread the message, and hopefully gain a wider investor base.

But still, kudos to you for this feedback, and well done maintaining the communication with the company.

Hi MTS,

From an armchair geology perspective, it shows them the type of volcanic activity and likely temperatures that existed to create the various minterals.
Esssentially, all of the silica, gold and silver (plus the other metals) were created from the heating of water around 1km underground, and altering the volcanic glass through cooling etc.
While it doesn't directly tell us how much gold could be present, it is likely indicative of high Si-Au (Silica - Gold) concentrations within the Ore.

Overall, the Twitter posts have showed us what an exciting plot we sit on (both geologically, and hopefully financially!).

Same here, joined the club this morning With 25k shares. The future does indeed look promising.

It’s very peaceful in here, too. Unlike a couple of boards of just sold out from. Let’s hope the Xmas predictions do indeed come to fruition.

Stanley.

I agree with the sentiment, and the lack of shares held by a board is always disappointing, I’m pretty sure they have been in quite a drawn out blackout period recently with all the well developments.

With Dr Parsley and Mr Tao on the board, I imagine Kerogen are also locked out of selling (or buying) due to inside info.

But a big buy after the next RNS, once all facts are public domain, would do wonders for investor confidence.

And 2 issues with yuor statement.
1. You're guessing.
2. OGA have made field determination for Lincoln. HUR and Spirit are now in discussion over how to proceed.

I believe that the F.D on Lincoln will be a disapointment to the company though. Likely ovr a smaller area than we hoped for.
Bt this is opinion only, as that's all any of us have right now.

Agree, SG2,

It’s a common approach.
Lace fear with a little truth, and then push another share they are invested in, hoping to get a few nervous holders to jump.

Maybe we are doomed. Who knows. But that’s the point, nobody does.
We could get an RNS saying 50% farm-out / JV of Halifax, fully funded campaign, and RBL secured on revised reserves to clear the bonds.
Anything could surprise, to the upside or downside.

“What is HIR?“
It’s a consequence of the ‘i’ and ‘u’ bring too close together on the keyboard.

PlantedBHA: “ Really old news”.

Really? It happened this morning.

https://www.offshore-energy.biz/transocean-gets-contract-termination-in-uk-expects-delays-in-drillship-delivery/

BuyInMay, that’s a dirty word around these parts!
It was the bondholders that ultimately brought down Xcite, but it was a combination of incompetence on Rupert Cole’s part, plus the extraction of heavy oil in Bentley coupled with a crash in oil price.
Whalsay, the company set up by the bondholders, still haven’t managed to get Bentley underway.

We are different. We’re a producer, bringing in good revenue, and in a far more stable financial position.

Although there is read-across to how the projects were established and run. Stephen Kew was the equivalent of Dr T (the brains of the outfit) and he resigned shortly before the company’s demise....

Maths,
It is perfectly realistic to believe we won't havw the cash to repay the bonds. I don't have the cash to repay my mortgage, but a steady income into my bank account can assure another mortgage company that I am sufficiently credit-worthy to take out a new loan to repay my existing one at the appropriate time.

We are not out of options. Should we not be bought-out over the coming years (I still suspect we will), then either the bonds can be renegotiated, or we can look to other areas of lending.
If I was sat in Mr Chaffe's chair, I would wait for the CPR to come in January, and then negotiate RBL based on the revised figures. We may only end up with 700mmbls (finger in the air, nobody shout me down), but it would be more than enough to take on £500m to clear bonds and give sufficinet working capital going forward. This is just one option.

I'm hoping that by bond redemption date, we could have cash to settle at least half, leaving a much mroe managebale figure through alternative funding.
Sit back, don't panic. the finances are all under control.

As for the water, well, that's for another discussion.

The regulations state:
"The boundary [is] to be drawn in accordance with geological criteria alone so the field could be defined as a single geological petroleum structure."
A boundary "is taken as the maximum extent of all the hydrocarbons present, whether moveable or not, and regardless of whether the entire accumulation is in phase and/or pressure communication. "

The RNS states:
"proposed field determination area over local structural closure at the Lincoln discovery".

Did we hope for FD over a larger area of Lincoln, but the OGA have looked at the data and decided rather than a wider area, the presence of multiple fractures means FD is only given for a specific local fracture?
The JV now look at this and are weighing up the value of preceding?

I'm just throwing musings out there, and don't really have any knowldge in this particular area.

Maybe I totally misunderstood the RNS, but I interpreted it that OGA have determined a smaller field area than we hoped, and we are now in talks with Spirit on whether to proceed or not, as no doubt the prize is smaller than the JV hoped for.

Did anyone read it any differently?

Don’t think so, BigBear2.
Pelham are now below the notifiable level (3%), so no need to RNS any other activity unless they cross the 3% holding again.

It's good to see some proper discussion today regarding operations rather than daft share trade commentary.
I don't have in-depth knowledge of corporate finance, other than what has been learned from other shares I have held, but thought a topic on possible ways forward would add something to the board.

With increased production, we should ahve enough in the coffers to at least part-pay the bond, maybe leaving $100-150m outstanding.
With the CPR due fo release in early 2021, and with the expected downgrade in reserves (let's say 700m recoverable), could we then look to bank-backed RBL to cover the remaining bond (shaking that particular monkey form our back), and have enough working capital for further drills without giving too much away through farming out on Lancaster? £500m RBL would then give a decent pot for future work, and although debt is debt, £500m repaid per barrel produced, but unlocking a way forward for Lan/Fax woudl really seem like minimal debt in the long term?

Would a farm-out be preferable, rather than carrying the whole risk ourselves?

Either that, or sell up by December!

Not entirely.
Doesn't this mean they have just dropped below 3%, and can still have a potential 60m shares to dispose of?

I don’t think it’s too bad.
Water from 6 is 11%, which is an increase, but now that the ESP’s are commissioned this should hopefully stabilise.
Production is up by 2k bbl/d, 7z is back online.

From the Edison report of June it was clear that the CPR would reduce the P2 values. We just don’t know HOW material the decrease will be.

Does anyone know what was meant by the GWA statement? Has Field Determination been granted?

mjga786, surely your comment was not serious?
"SP now is below 6p, so even it goes to 0p or bust, loss for people would be less than 6p per share"

Here’s a question: If person A buy £10k worth of shares at 50p, and Person B £10k shares at 6p, and the company goes bust, who loses out more?

Hopefully the answer to that question will demonstrate the madness of your post.

The upside is indeed greater, but the downside risk is the same for all.