Member Info for tidd83

As stated Oiler (do you ever post anything but deramping rubbish?)

Cash is fine until well into 2020. Circa £35k a month cash burn and recent cash injection from major shareholders of £300k.

Let’s stick to the facts.

How does cash look a bit thin? Interims were to June.

They have since bolstered cash position which puts the company in secure funded position until well into 2020.

Locations to drill are already known and mapped, submission now to drill - rig nomination is already complete.

Not needed Older, £300k loan provided by the major holders here will tide it over until mid next year.

They even stated in the RNS at the time that the SP did not warrant value to raise hence they stood their 51% corner and provided a loan.

They still haven’t sold down so I doubt they’ll raise at a lower price given what was stated in the last RNS.

Excellent results here today and largely just the beginning. COHO alone has the ability to double existing production of circa 1900bopd overnight excluding all of the other prospects that have now been largely de-risked from today’s results. I can see this trading in the 30-40p range in the not to distant future.

Looks to be underway, Kommandor out at sea.

Kommandor not far from its destination, the closest port to Barryroe.

All things pressing ahead, let’s see what TOR has up his sleeve.

Well PVR have secured payment for the rig mobilisation so the rig should start moving towards Barryroe shortly.

The assurances received must be satisfactory to the team to allow for the extensions. Only the companies are privy to such information and by way of action it suggests to me that they money will be forthcoming.

Anybody on here speculating otherwise should read on the banking processes within China, I shared an interesting link last week around how all funds leaving China are subject to scrutiny from the Public Bank of China and how it is without question that delays can occur. Their appetite is to retain wealth within the country and so need to verify everything.

Given the farm out is through state owned entities I think it is clear it is a matter of when as opposed to if the funds arrive. This is also nothing to do with APEC or any partners, it will be down to HSBC and the PBOC as explained above.

YinYang, the initial RNS were not in relation to HSBC more around the funders of APEC.

The HSBC element is only recent and therefore your point below on scrupulous checks would explain the recent delay post the remittance slip and payee account being debited.

https://youtu.be/oxiNuEo1aUk

Initial opening of presentation is centred around Barryroe however at 11mins 40secs TOR shows the level of details gone into the FOA with talks beginning in 2017.

Doesn’t strike me as a party that are going to walk now given the time spent as some fools on another bulletin board would have you believe.

Oiler actually doctors the RNSs as I’ve pointed out before or omits certain parts before posting.
What does that tell you..

Yes Rock although update could be expected on Tuesday.

Agree Phoebus.

Funds will appear in some format, regardless - with permits in place there will be far bigger entities now watching how this plays out.

The significance of today’s news should not go unnoticed, or shows the Irish government are fully behind O&G exploration, with the killing of the bill it really is game on.

Personally surprised to see we are still around 2p but this will correct, should certainly be much higher.

https://www.dccae.gov.ie/en-ie/natural-resources/topics/Oil-Gas-Exploration-Production/environment/statutory-consents/ministerial-decisions/application-by-exola-barryroe/Pages/Application-for-site-survey-by-Exola-DAC.aspx

Can you post the new link please ALGU - I can see they have changed the application page now so something is going on.

https://youtu.be/YI2y7649C5I

Full article is here;

http://trinidadexpress-tto.newsmemory.com/publink.php?shareid=071b044b2

Manyana well that’s ok, if APEC sit back then how do they propose to recoup the costs of the exploration program?

It won’t cost PVR or LOGP anything, infact they will have a proven resource with increased $$ in the ground.

Also, there will be agreements on timing around the FOA to protect both sides from this happening.