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Well Johnno, i can agree with most of what you have said. BUT AGAIN why can nobody accept that Brians choice of words were definitely not the best. Is that so hard for you and the O&G Junkie crew to accept, To new investors a 5.4m capex on a not so super exciting project given the debt and current cash constraints isnt great optics. Again you only have to meet me halfway here...... crickey you really are all chomping at the bit ro leap to the defence of a management team that have overseen a complete collapse in SP

Stas I read your response and understand where your coming from. But my view that the comms could be improved isn't a justification for being banished from the Discord. Likewise my view that unless VAT receipts are forthcoming in early Q1 any CR3 success will be accompanied by an equity raise isnt a justifiable reason to boot me. These are views which I hold and do not justify O&G junkies actions, particuarly when his holding is probably much smaller than mine!!

Agree with all that Stas, I believe CB is a game changing asset over time but really didnt appreciate being kicked out of the discord for highlighing the poor comms and feel the action taken was disproportionate. The price dynamics at CB are very material, but I never envisaged so much hinging on the first development well post acquisiiton. We are where we are but if the O&G Junkie crew keep policing the discord in its current guise it is little more than a mouthpiece for under performance of this management team

You're wasting your breath GGG. Nobody on there can accept a counter view on anything. Even the trivial view that the messaging on CASC compression project was poor. We still have a circa $3.2M commitment earmarked prior to Q2 26 for the project which was expedited due to lead times for equipment (50+weeks etc etc). They chose to describe it as " NOT SUPER EXCITING, BUT A SOLID ERRR LOW RISK PROJECT ". Thats fine apparently and great optics in a window of belt tightening. Couldnt make it up and O&G Junkie will timeout anyone that suggests the comms need some work!!! As you say what happened to the fully funded 4 well development plan at CASC ? It might be a good predictor of the CB outlook is CR3 is a dud............

What rubbish did I post other than the view that Brians messaging on the compression project was poor comms IMO? You can watch yourself on investor meetup (19m10S) . Given our current cash position the $5.4M cost of the project is not immaterial and indeed i believe important. So Brian didn't need to paint this narrative.

Brians words "AS I SAID EARLIER ITS NOT SUPER EXCITING, BUT THIS IS A SOLID ERRR LOW RISK PROJECT WITH UNDER A 2 YEAR PAYOUT".

Moreover i'm pretty sure i'm a larger shareholder than O&G JUNKIE. Everyone just wants positive takes on the presentation in that group. Note I posted many positives. I wont be rejoining and will limit my commentary to LSE

HEY STAS. Why dont you rewatch the presentation from minute 19.10seconds. These are Brians words verbatim word for word - "AS I SAID EARLIER ITS NOT SUPER EXCITING, BUT THIS IS A SOLID ERRR LOW RISK PROJECT WITH UNDER A 2 YEAR PAYOUT".

So you tell me what part i've made up to warrant being expelled from the DISCORD!!!!!!!

Yes indeed!! I guess my take on Brians messaging during the presentation justifies booting shareholders from the discord. If all you want is confirmation bias that yesterdays presentation was positive then so be it !

I wouldnt post if I wasnt banned from the dircord for no reason!!!! I still hold over a million shares (albeit SIPP holding sold this week) , so I dont appreciate being put on timeout for sharing my views positive and negative. The O&G Monkey army and policing of any counter views is a joke on there. I still hold our hope that tapping into the pricing dynamics at CB for gas over the 4.6BCF threshold can be a game changer. But anything that isnt positive about yesterdays presentation is shot down in the discord. Its an echo chamber!!

I have to say GGG I have questioned your negativity but with the benefit of hindsight now feel that shareholders cannot continue to bury their head in the sand. PB has overseen the destruction of the share price and geology apart the operational and placing debacles land squarely at the feet of the CEO. The Discord has become an echo chamber for those that police opposing views or share counter arguments related to the businesses liquidity position. I have been put on a weeks timeout for simply stating facts and daring to challenge the narrative that yesterdays presentation set out a clear path forward. At one point Brian's messaging with regards to the compression project was that is was "not very exciting". Regardless of his beliefs about existing shareholders interest in the technical nature of the work to be carried out this is a very poor communication style. Any project needs to have an economic validation and clearly the CAS 5 result challenges the model but a 2 year payback and 1000boe/d impact needs better messaging!! The compression project is a $5.4M commitment (30% paid) and will have signifcant benefits so I dont appreciate the narrative Brian . The CR3 well is now key and the drill to fill motto shifts to CB. Note that any further development drilling at CB is not committed and we seem reliant on a VAT refund to accelerate further wells in the CR3 success case (fingers crossed there). Given past behaviour any success at CR3 will likely leave those at the helm looking at another equity raise and very few can convince me otherwise. As for the signposting of farm out opportunities for cretaceous targets and fracking options, well these will have no near term material impact IMO. More expansive 'storytelling'......

Why is everyone wetting the bed here! When the company has material news it will be compelled to release it. Watching share price moves on tiny volume and using it to foresee bad news! This isn’t a lottery ticket and drilling operations take time and can experience delays - get some perspective!

Thanks John. I hope it’s another successful development well. Then we will need to rely on the teams learnings to date and Our snail like friends at NGC to get the short pipeline work done. I don’t believe in a Q4 2024 tie in story but would be delighted to see this all materialise by end of Q1 2025. So much value to unlock here :)

I’ve had a mad month at work so not been able to keep up with news on CAS 3. Assuming the well has been spud ? Was this announced and what was the approximate spud date? Do we think results in first week of April are likely?

Thanks In advance for any informed answers on this. Long term holder here - but behind the curve on cas3 progression.

CAS 2 validated concept of sands extending significantly to the east of initial discovery. The impact on CPR auto be seen but it’s a huge validation event. Onto the next well ! No problems getting the loan facility extended now!

Onwards to CAS 3. As suspected this is going to prove to be a very large structure way beyond the CPR. Patience was always needed and still is. But not for too much longer. The value gap is going to close in fast in H2.

Not ideal comms from PB, as usual he made a commitment to reveal FY24 plan and capex commitment to drill to fill. In meeting his self imposed deadline he has lost credibility but I do believe funding will be sorted very soon. Ultimately in the success case the development wells are very significant value enhancers. Doom and gloom today but not in late jan as the drill turns.

Scored the hedging is prudent management IMO. This still leaves plenty of upside given the 24 hedging appears to be for circa 20% of production?

If we assume a conservative 40k BOPD X 350 that’s annual production of 14 million barrels oil…

The Group has hedged a total of c.3.5 MMbbls for 2024 and c.0.2 MMbbls for 2025, predominantly using put options at an average floor price of c.$60/bbl

Given production hit 20k BOPD and the last well of the infill programme is projected to deliver 3500bopd it’s looking like a cash cow. Noting the additional depth of the well (730 metres) we can also expect a material impact to reserves. This really looks like a ridiculous price and company valuation at present. I see 60-70p in short order.

I couldn’t resist adding at 48.5p and think 75p is a very achievable target price by February. As soon as the drill bit turns on the development wells volume will return

What was the actual point of the presentation. To tell us about compressors and gas pricing disparity to EOG. Crikey !