Member Info for tradeemup

NO BRAINER. Another 8000 shares stashed. SUB 160 I’ll be throwing the kids uni fund at it. GLA

GF you are missing the point ENQ have a large debt pile which hopefully can now we settled over time Post development. AMER net profit comes as a result of CAPEX commitments to further exploration and upside. Granted this has been thin on the ground until CPO-5 discoveries but th work is turning.

What would any successful drill and confirmation of production potential of the Paleo do to our valuation? I would rather we sell but have yet to see a company openly looking for a sale achieve a 300 to 400% premium Over the current SP. £1 is out of the question IMO. Crude you need to look at the facts prior to posting irresponsibly - leave that to JP.

I’m hopeful a potential buyer will ascribe some value to the prospect inventory PNE and this will leave us whole. Even so the talk of contingency payments had me spooked prior to my recent top ups. If a suitor focuses on production in the te5 area and shoots 3D seismic in areas of highest prospectivity delineated by existing 2D it could be a long long wait... would much rather we agree on an out and out sale of the asset but many would likely disagree. It hopefully won’t be long before we see how this pans out. I’m not adverse to a raise and another go at the paleo targets if a sensible valuation isn’t met

Agreed PNE. I’ve averaged down quite heavily and now hope they can cut a deal that leaves more winners than losers. I’ll stop my moaning :)

RRocket did you discuss the CPR with JJ or JP at the AGM?

Would this have been the policy if flow rates were deemed commercial ? JP wouldn’t have missed an opp for a ramp fest surely...

Misunderstanding guidance is slippery. I welcome the CPR and would like a further confirmation by an independent third party!

PNE. By default the reality is those that don’t read between the lines and listen the CEOs rough calculation guidance are deemed ‘confused’. Any numerical value openly expressed by the CEO without the context of recoverable volume against GOIP and working interest to my mind is misleading and purposely vague. JP should be openly criticised for this and for JJ to infer the PI base that pay there salaries are

JJ has added no value to date so let’s home he comes into his own now the for sale sign is up. His comments around the CPR commissioned being for the benefit of confused PIs and that there was no obligation for them to do so was interesting. To my mind those attributing £1 per TCF to sound and not understanding the semantics of GOIP, or working interest vs recoverable resources etc were led their by our CEO and ramper extraordinaire! An about turn in tone at the DD when they took stock of past claims and grew a conscience. At least BM has always been even handed in his language and professional from day one.

JPs actions and naive over promotion (I’m being kind) post te7 are difficult to defend and many, including me are nursing heavy losses. Where this irks me is when LTHs are still springing to his defence based on blind faith. CRUDEHOPE I get you have a soft spot for James after the turnaround following Indonesia but even you must see the language at the gherkin event and talk of golden tickets from a CEO is naive and frankly needs to be investigated by the FCA. At the AGM i hear JJ explained that the recent CPR was for the benefit of PIs as many had got the sums wrong assigning £1 per TCF to sound! I wonder who have everyone that impression!!!! Utterly shocking from our CEO!

Eric at the point that you hand over accounts, lead inventory and seismic data under NDA to a suitor for the company/asset this needs an RNS. A conversation obviously does not require an RNS! An NDA to discuss collaboration, sensitive info around IP with a business partner or to cover the confidentiality of discussions with end clients is not the same thing as an NDA tied to a decision on an offer for the company.

We’re not identified on seismic until January due to processing timelines according to BM and not covered by the EIA which led to the delay announcing a location. I can’t help wondering why we didn’t take a stab at the paleo prior to the end game. Someone may pick up the motherlode on the cheap. Very dissapointing

Have to say I agree with you Jones. An NDA relating to M&A and company sensitive data such as accounts, seismic etc needs o be RNSd

Sound needed to demonstrate an inventory of prospects to allow potential suitors to assign a value to the unproven TCF potential in any negotiation. Has that been achieved after $30m spent on seismic..... I think this is the challenge and JP will need BM experience here from his BG days. JJ May bring the suitors to the party but JP and BM will need to earn their salaries for a change!

Lol. Very true Eric. Another 86k shares loaded. JP needs to deliver 25-30p minimum.

Based on £114m Mcap? Surely JP & team will be able to either raise near current levels based on upside potential from appraisal targets or complete a sale at circa £250-300m valuation. Any sale price below £250m will leave the current BOD tarnished for the foreseeable. I’ve taken the plunger. Time will tell

Despite Te10 being non commercial one of my main lines of thinking is whether the data and gas to surface provides a new owner with an understanding of how a step out to a drill location within a few km might fair. This could impact the price any suitor is willing to pay and the downhole pressure gauges might support a better understanding. I’m not technical enough to understand the value of the data captured to a prospective buyer but it does appear that both schlumberger and sound engineers were confident that stimulation would result in commercial flow. Thoughts?

Riddler. Perhaps the marketing is a ruse but it’s also possible the language and confidence exuded on a positive LE outcome by JP at al it the best ruse of all.

Sorry pontcana. I meant prudent on last post.