Member Info for theiceberg

But they should have started discussions months ago!
To be pretend that major shareholders re just sat letting everything go down without weekly meetings is nuts.
If this is true the bod should resign.
If it’s not true it’s shows incompetence or lying hence they should resign
I have no vested interest now so will leave it to that

Ive long argued that Bcn have treated kdnc as a spoilt child. Current ceo has been far to close to them and the ceo should go or be fired.
To come out and say that no shareholders are involved in current fundraising is equally scary. Ffs they are the people being diluted massively and own the company. I would hope they would want to maintain their % holding. How can they do that if you don’t involve them.
What a cretin

7.62 to sell

To 8.2 hopefully it will then stay above that for the rest of the day.

Not sure agree with the tweet, but I have no doubt that a 5-20m zone 200m or so above the R1-2 zone in the chela zone has been encountered with oil. I think this was hit on Friday.
I have no doubt that both r and 2 will be hit as well tomorrow giving us 3 seperate pay zones already.

Wire logging is being run jointly for Mengo and r zones next weekend.
R zones are currently producing that , but after many years using old tech. Triple digit production for the first few years.

Don’t have a clue whether the twitter is genuine, don’t care.
But I say again don’t underestimate The R zones. They are obviously the least for us but many companies have been successful at lower oil prices.
Just R2 flowed at 1000bopd when initially hit so plenty enough to have oil coming out the top.
It also continues to flow at a high rate for the first year or so as it’s a fast flow high depleat reservoir for conventional.

Add in stimulated flow and we’ve got at the very least a nice little earner despite the very high likelihood of Mengo etc.

An answer but not one you’ll like.
Who could careless ?
They have drilled now. We are awaiting targets that’s what matters.
If you lost out on a sh market with an iPo that was over ambitious then I am sorry for you. But the current company is irrelevant to what happened at the iPo. We have a drill and lots of cheap drilling ahead. If we hit oil then lots of profits as well.

From folks with apparent smp knowledge. Probably an indication they have no negative information or they are long with the buys yesterday. I am of the firm opinion that they went through the chela sandstone yesterday and recorded a 2-5m oil layer. Obviously no confirmation of this.

Above r1......
A sandstone below the salt cap but above the PI zones of r1-2-3

Was a sell. 95% sure. You don’t get a 1m buy and the share price falling 5%.
A worked sell over the last 2-3 trading days imo.
Maybe a Beaufort release.

This seems to be just the market. Volume, sell volume in particularly isn’t high, its simply that the market makers don’t want any holding on aim and mining shares. So if they get 300k at 5.57 sell they will seak to flip them at 5.59 just so they don’t hold and open themselves up to to any risk.
There are no funds big players ready to soak up from the market makers.
It’s a horrible horrible market.
Similar to 2010 imho.
It has no bearing on Sav the company. Apart from the fact the Sav has deeper pocketed Lth and if they reduce risk it moves the price.

You are incorrect cos is not chance of hitting oil. It’s the chance of hitting recoverable oil.
If you drill to 1350 you will hit oil geooogically that’s 99%. The 90% reduction is thanks to oil migration lower saturation etc. Maybe small net pay zone.

Percentage cos is down to a number of variables. For us the PI zone which contains the R zones and Mengo extend across the basin. The percentage concerns the chances of a suitable seal for the oil. The chances of a durable trap. Chances of oip and satuaration being high enough to allow extraction.

Ukog horsehill is a good example the Kimmeridge and Portland zones extend across lots of southern England. If you drill you will know roughly where the zones are. Hence why I think ukog is a pile of sh.

Also the company we got the license from drilled 101 and 102 on the license are so we know the PI zone is at roughly 1200m.
We will be going through the cap today imho so today will be important geologically speaking.

It was always due to be Thursday Friday for r1 and 2. Given this then we should be in the PI zone late wed. With thur dry to go thru the zones then r 3 possibly over the weekend and Mengo tues or wed.
Not a bad 7 days of drilling ahead.
Although not the greatest of zones R2 produced the equivalent of $15m for hole 101 and we know this hole will go straight into production. r2 is such a nice banker to have at this level every other zone is derisked making it either $15m or $450m depending on success of Djeno Mengo etc

Folks a quick to complain but I think David has done the right thing releasing the rns on Friday. The market obviously agrees. Get anything that might be perceived as bad news out of the way now.
We should have left the salt today.
Tuesday afternoon should see our first oil shows in the drill mud.
Wed should see us with oil coming up out of the hole and flowing naturally.
Thursday should see the final R zones completed.
Friday the rns.
I might be wrong, but happy to see the above.
I wonder if the drill will find a new layer between r3 and Mengo which we can call the S layer. Larger than your average layer, not easy to come to terms with but delivers the results when most needed.

I’ll tell you I whether I am disappointed or not after the drill. To try and express disappointment prior would be foolish.

I put something up about the oil etc but these is more conceptional in nature.
101 was initially drilled it hit r2 big time as expected at that time in the PI zone.
The company at the time looked to follow this up with 102 targeting the shallow geological feature that led to the R2 within the PI zone.
Unfortunately the gamble didn’t pay of R2 was patchy in the shallower section of the PI.
On to 103 the current drill.
This was positioned with a deeper PI play, not in depth but in formation. This means R1 is likely to be weaker imho. However R2 should be larger. R3 will also come into play due to greater oil build up. This also means a larger Mengo target.
We know Djeno and Vanji extent across the entire basin as they are major geological zones not just shallow deposits.
With this in mind imo.
David’s plan is probably to raise funds on an mcap 50m+ spike. A 10% float to drill further is tiny. To do this quick response will be needed. I am not saying the spike will only be 50 mcap just that will be the desired minimum imo

Because there is no share issue until after Mengo at least. Probably until after td at least.
Nearly every company on aim has the ability to issue shares. It’s normal.
Either the shares will likely be issued at 20p+ on a successful drill to get more bopd or the shares will be issued at 2p because the drill failed. Chance of the later happening less than 10%.
Anyway depth now 950-1000 by end of today. Should leave salt Monday Tuesday and then oil wed thurs.
any leaks and buys come in when Tuesday/wed/ thurs as r2 oil comes up from the hole.

I didn’t think there would be a leak as David seems to be quite tight lipped. However smp certainly leaked the brake repair and might well leak any oil finds.
Equally it could have been paris that leaked and any oil finds won’t be reported to Paris until an rns.
Regardless smp are not water tight.