Member Info for tradeemup

Pontcana. They can identify as many leads using their internal modelling as they like but we have 3 dusters based on the last set of prospect inventory. We are all aware there is no intention to take this to through to full development and production but suitors are not knocking they are being approached. This is not a position of strength. JP may well deliver a LE that on the balance of recent results is acceptable to all but his rampfest and irresponsible promotion leave a lot to be desired.

Prudent. Putting a for sale sign up does not strengthen your hand it weakens it as you are not at the table in a position of strength. JP can counter any suitor by suggesting he can raise capital and further derisk the potential licence and is prepared to hold out. However who would believe him now. They do not have the stomach to see this out and the internal confidence in seismic is shot. 30p would be a miracle.

Soobirs. I am increasingly of the opinion we will be far better off raising funds and having a few stabs at the paleazoic pockets which Brian seemed to indicate dwarfed the TAGI in size. Any sale now is a fire sale. Make no mistake a major will not pay anywhere near the NPV of the te5 Horst unless the belief in the seismic and future running room is significant. Anyone thinking otherwise is fantasisiing and still camped in the hype machine that is JP.

After all the hype and talk of double digit TCFs it is now Apparent this asset sale will not achieve £250m. What a fanfair and hype machine we have witnessed - JP hang you head in shame.

Trellis I also find this perplexing. Cometh the hour cometh the man and deal maker extraordinaire replaced by cometh our appointed advisory deal broker. Another about face much like the propaganda around golden tickets being replaced by the fact we should of course hold stock as part of a balanced portfolio! JP reputation on the line and he needs a miracle

Whether we drill or not is dependent on the sale price - surely. If the BOD recommend and offer of under 25p I would rather we raise and drill 3 paleo prospects. Just my view. Waiting on future payments contingent on each TCF proved up is just too complex

jP will not be forgotten by the PI community if this ends in 15p recommendation with milestones contingent on future discoveries 30p minimum or we raise and drill on!

Here as the dust settles is probably important for all those considering selling up on the cheap. I am infuriated by JPs promotion post te7 and the clear internal lack of confidence in the data processed over such a protracted timeline which means Te11 is a non starter. However we have the Horst and I have no doubt a major with a multi rig programme can unlock the play. What value for 66mmscf development, a clear route to market, high gas prices and the upside across the remains acreage. £250m looks realistic which is 150% fro where we are now. I can’t sell out and crystallise the loss on paper today and hope 30p is achievable. Can I see shell or repsol stepping in to take the risk underpinned by te5. TBH it’s 50/50 but not implausible.

How can this team suddenly realise there licence renewal is not a given after talk of imminent gold cap mining. Conmen and an fca investigation needs to be launched.

Brazil. Dare to dream but eventually we all have to wake up. No way a major is paying £1.1b for te5 Horst and the licence area when we are actively seeking a sale.

Eric JP knows full well that he has not delivered and he is running a pre revenue business off the back of our hard earned and faith the BOD will safeguard shareholder interests. £100k per month for a pre revenue explorer is hard to take based on performance of the exec team. I won’t hold my breath on any pay cuts but this would be a start and show of goodwill. I am certain JP will learn from this experience but his quest to market our asset and naivety led him to make some statements which retrospectively are hard to justify. I will await the sale and accept the price agreed but sense I will be nursing a heavy loss.

Classclown - you are right we are 2 drills into a 3 well campaign. Would you prefer we sell up now or wait on the binary outcome of Te11 with zero cash to hand? The vultures overhead will be waiting for a carcass to feed on..:

Classclown. The company by its own admission would rather put the for sale sign up than drill a third well. What does this say about the confidence in the seismic and interpretation/processing that saw us wait over a year post TE-7 to go again? Even if we do find hydrocarbons the tightness of the reservoir is challenging, even for Schlumberger ! Get your eyes checked and perhaps the situation will become clearer. JP has been ramping this for over 3 years and without any solid foundation. Look closer

Albus - crude has openly posted that he spoke with JP on a call this morning...

Last night I pointed out that a number of videos had been taken down and that any tweets relating to the July 2016 ‘champagne event’ had also been deleted. JP and team appear to be growing concerned about the smell that will follow them on their travels and the glaring video evidence in public domain. I will hold for the sale now but the jury is out and JP can talk of resolve all he likes but the seismic and current Horst don’t equate to more than 30p.

Brian prefers his money in the bank not gambling on poor seismic. Tendrara prospects as good as it gets by all accounts.....

Rubber soul we have over a billion shares in issue. Based on Horst and poor seismic I’d suggest 35p at best

JP should hand his head in shame for his comments at the shard event. Talk of veyrons over!

Plan B = cap in hand to a major. What’s the soundbite going to be when we have shown no ability to find gas via seismic model and running out of cash. Fundraise on the way once the marketing process fails and buys another 6 months salary. Absolute jokers!

rushfan - I’ve noted that tweets have been deleted and the shard event video is no longer on YouTube... thoughts? JP really has lost all credibility when you revisit his post te7 euphoria and irresponsible statements on camera!