Member Info for Urraca

I'm holding for Kelvin and LMS1. And because I think this is still undervalued. Seems to be money coming back to O&G, can see rises across a number of the stronger small plays.

Thanks jhaylock

Bought in here this morning, just 3k, lucky to get in under�2. I'm aiming to try and build quite a big position, for me, over the next few months. I've got a lot of hope for JOG, been watching since the sidetrack last year.

My thanks too vilage-idoit. Very interesting. The price does suggest the seller has cleared. It has been a long time comng, but the day as bound to arrive eventually. Hopefully our market cap can now adjust to a more realistic level. The last two bits of news especially have been very important, and Kelvin is very exciting. Not to mention all the other on-going activity.

Maestro, you'd have to ask Paul. It looks to me too as if these targets could easily be beaten. Maybe he means in this calendar year. Or maybe he wants to under-promise and then over-deliver. Either way, we've got a very exciting 2018 as we move through the drilling programme, and on to production and monetisation. Kelvin spudding soon. Genuine grounds for serious interest.

Maestro, I recall somene (but unfortunately I cant remember who) saying they'd spoken to PW in the margins of an investor presentation, and he said SD1 would have flowed at around 70mmscf unchoked. The company have never put out anything official suggesting this. And it's what the well can flow over time that counts. Ibn Yunis has a thicker pay zone, and better porosity.

Thanks daft, that's interesting reading. The cost recovery element if the deal shows that field revenues can't be calculated straightforwardly from the simple headline figure of the price agreed. Although that is a key determinant of profitability. Maybe some of the discussion revolves around what proportion SDX will accept in local currency too. Lots of variables here, to make the negotiations interesting.

Possibly as a negotiating tactic daft. We will see what it is when it comes. And I presonally would be surprised to see what it is before the SD drilling programme is complete, so everyone has a better idea of what they're talking about. Kelvin is critical. If it does support the thesis of a single connected play, with possible 2.5tcf volumes, then I could see the following line of arguement. It is better to pay $4 for SD gas, to get the field developed as quickly as possible, and supplying the internal market. This will free up surplus production from Zohr for sale externally. It's closer to the LNG plants, so that makes more sense. The rev the Egyptian Govt earns from selling the surplus exceeds the gain it makes from only paying $2.65 for SD gas (this is a pure assumption on my part, but they seem keen to export😆☺️

We are generating a lot of cash. And we are using it to fund our drilling and development programme to rapidly scale up. What's not to like? The podcast was great, but I was interested to see PW manage expectations about Ramadan down. Be interesting to see what happens. But both Ibn Yunis and Lalla Min have come good, both fairly high risk drills, which has really strengthened our resource base.

So as far as I can tell, their renav is now 70p, to go up when ibn yunis flow tests successfully, and they don't appear to have worked out any renav from today's result yet? Is that right? So assuming IY flow tests okay, and they're indicating a renav of 72-75p, but can't bring themselves to be explicit about it. PS, anyone else having probs with LSE today? I haven't been able to access this BB for hours. And I've started getting huge pop up ads for living solutions appearing in the comments. Products that look more suited to being plugged on a ladies magazine site, and of zero interest to me.

Must admit, I sold some earlier, having been underwater here for most of the year. Just bought them back, made a few bob and shaved a little off my average. Showing as a sell though.

This should set Paul up nicely to be able to guve a cracking presentation tomorrow. What a run of drilling success.

That is better than I was expecting by an order of magnitude. Was getting a little worried to be honest, delayed results usually are not good news, so I was bracing for a duster. Instead, this. Haha.

Has the seller started up again?

And who says socialism doesn't deliver benefits? To those long oil, and long oil companies :-)

Thanks all. I do agree the market cap seems ludicrous for what the company has, even with a 'Russian' discount. I'll sit brooding on the sidelines a bit, and curse myself later.

Lol. Normal service resumed?

Been watching this one for a while now, and I'm seriously tempted. But the massive spread is really off-putting. What's the deal with that?

Good.

Could be another leg up after consolidation yesterday. I think we're still in price discovery mode after the phenomenal drop last week.