Member Info for steve58

Is their another 30 to 40 already being produced from another well?

If so up to 140 a day

£2.8 Million income a year.

Over twice mc.

I think maybe tulip bv or even ujo will step in to help.

They certainly wouldn't take the time and effort to do a presentation if they were throwing in the towel.

So between 80 and 130 barrels a day total production from the two Wells.

Between £1.6 and £2.6 million income.

How can the same company in effect screw things up so badly twice in three years whilst getting through over £30 million.

We are currently priced at 13 thousandths of a penny so need it to be a 77 bagger to get to that elusive 1p sp and a mc of £180 million.

A thousand barrels a day would go a long way to getting there.

Well someone obviously doesn't think do a 100 million late buy.

Could be a Ujo one.

So nothing that we do not already know.

Just to be 100% certain some sort of RNS to the contrary would be very welcomed by shareholders. At least it would prove that they haven’t abandoned the well.

I think annual results are due by Friday week so should be news with them.

Maybe results and news are ready earlier this year.

Tomorrow maybe.

I hope so.

Although from such a low price only about £800,000 added to mc today.

Current MC is only about our annual income from 100 barrels a day.

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I must agree was a stupid question to even consider.

Other than some interviews and the RNS’s have we actually got any proof that they have actually done any drilling?

Stupid question to ask but given the amount spent so far it does sound a bit strange, especially given the $20 million spent in the companies previous guise.

Results due by 30th June.

No info on companies house as company registered in the Virgin Islands.

Like the rest of them.

Just a thought.

Maybe if the board have had used common sense they should have raised massively at the start and purchased their own rig given the large number of drills that were going to be done.

That way they would have saved millions in the hiring of rigs for drilling. They would have still had an asset and when not used they could have hired it out themselves earning income from it.

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I'm sure if they were that bothered they would have reconnected by now.

It is looking increasingly likely that they will just make their excuses and ask for more cash to keep the lights on.

I hope that this is not the case again although the word pleased is still to be used in an RNS issued.

Sorry oil.

The oil is there its just the pressure isn't.

I'm sure that they will explore all avenues open to them to get the oul out even if at a low flow rate.

We are currently valued at £2.3 million which is the annual income from about 120 Barrels a day output.

Interesting week ahead.

Is being hooked in we must assume to the existing 30 barrels a day.

They say that they will hook it up to the existing infrastructure so expecting some sort of flow.