Member Info for wordog

Not sure how long a “long term flow test” takes but it’s been 6 weeks

Surprising, but flow testing for tight gas doesn’t = discovery, although it does prove they have found some gas. The rates can be initially good then drop off or vice versa, when fracking the engineers need to play about with a number of viable to get a steady flow. The core samples will also tell them much about the potential of the Carboniferous geology. Either way the fact they are at the flow test stage can only be positive and great news for CLNR whatever the outcome.

Dibs, you forgot the free share issue to ‘certain directors’ for ‘compensation and expenses’ because they couldn’t afford to pay them again. Anyone who thinks this fund raise will last more than 3 months is deluded. Aero hasn’t won a significant >£100k upfront cash contract since IPO. The writing was on the wall when Tony Dunleavy bought Aero Kinetics for £2.2mil all in, despite the fact it had ZERO assets. And then got sued by the previous owner and paid him off. It’s just been one disaster after another, i think the leaked emails gave the true insight to how bad this company is. I made and lost money in the early days trading these off the back of the pump and place routine, however I haven’t even thought about buying a single share since it dropped below 2p.

I think it’s even more painful to watch then that.

Bad to worse, the audacity of this comment though! “In addition, to limit dilution to existing shareholders, qualifying shareholders will be invited to participate in this fundraising through a proposed open offer to raise up to a further GBP500,000 by the issue of up to 1,428,571,428 Ordinary Shares at the price of 0.035 pence per Ordinary Share“ Ie, For some of you this is probably your 5th placing since you invested, and we are going to do you a favour by allowing you to buy more of this worthless company. It’s ok though as the directors are getting some for free. “Intention for certain directors to subscribe for a further 85,714,286 Ordinary Shares at the Placing Price in settlement of outstanding compensation and expenses accrued during 2017 - a further RNS will follow on completion“ Quite possibly the worst company on AIM.

Very tempted to buy back in here, however I still have some reservations: Trade receivables make up half of the revenue - stillOnly profitable on paper Cash position is fairly weak, potential placing coming Revenue forecast down for H2 2017 There are some positives too, if they can integrate the technologies into a packaged solution to sell to businesses there will be significant value. Interested in peoples veiws

This year's transaction also gave Premier a carried 5% interest in the Ravenspurn North Deep well to be drilled later this year. If successful, it could open a substantial new tight gas play in the southern gas basin that Premier might look to build on from its existing portfolio.

Got a couple too, not a lot but I’m not concerned about the SP at the moment, it will become irrelevant when the farm out is sorted.

Ravenspurn has similar geology to our prospect, the difference is ours is much shallower and holds larger reserves. If BP have found anything commercial in their side track then they will be in discussions with Cluff at least. I did vow not to buy anymore of these but might get a few more below 1.9. I sound like an addict, just one more....

I suppose the key point was that it continued to grow over 7 months, even with a placing too.

JOG Farmout timeline Notification of farm ADVERTISEMENT out RNS (18% stake retained by JOG) 23 Aug 16 (SP 34.6) Deal completed 6 Oct 16 (SP 48.65) Confirmation of drill commitment 14 Nov 16 (SP 128.5) CPR updates 27 Mar 17 (SP 260 then spike to 300) Farm out Highlights Under the terms of the SPA, Statoil will acquire an aggregate 70 per cent (JOG retaining 18%). working interest in the P.2170 Licence from the Company and CIECO, and will be appointed the designated operator for a total up-front cash consideration of US$2 million, of which US$1.2 million will be payable to Jersey Oil & Gas (the "Initial Consideration"). The P.2170 Licence area contains two medium risk independent oil prospects identified with unaudited estimated mean in place volumes of 300 and 212 million stock-tank barrels ("Mmstb") respectively. Statoil will fund all costs up to US$25 million in respect of the first exploration well to be drilled on the P.2170 Licence (the "Exploration Well"), with any cost over-runs to be satisfied by each party in proportion to their working interests. Planning of the Exploration Well is expected to commence this year, with drilling potentially planned for 2017. All parties will now work towards obtaining the customary regulatory approvals to complete the Farm-out comprising, inter alia, the consent of the Secretary of State for Business, Energy and Industrial Strategy (the "Secretary").

That’s more like it.

Don’t get it...

�285mil upside for Cadence!

24th April RNS Ducatti 2017 is likely to be a key year for the Southern North Sea Gas Basin, with significant activity expected in the vicinity of the Company�s licences. This will include the results of the BP well being drilled in the Southern North Sea to a deep Carboniferous prospect near the Ravenspurn field, which could open up a new carboniferous play in the region, the drilling of a further exploration well immediately adjacent to the Cadence prospect by Centrica and the potential submission of field development plans for Centrica�s Pegasus discovery and Premier�s Tolmount discovery.

Let�s just take another look at the Economic Feasibility Study for P2248. The effect of the range of possible different reservoir volume sizes on the unrisked project NPV for the two prospects is shown in the Table 2.1 below. This analysis suggests that if a discovery is made, in a downside reservoir size scenario Cluff would make a small positive return, whereas Cluff would make an attractive net return in a Best Case scenario and a very strong return in an upside scenario NPV (�million) P90 P50 P10 Cadence p90 12.7 p50 47.6 p10 285.8 Bassett p90 3.0 p50 41.8 p10 183.1 Cluff can generate significant shareholder value if it can successfully drill an exploration well in either the Cadence or in the Bassett prospect. A discovery would, according to Xodus preliminary economic calculations, increase the EMV of Cadence from �5.5 MM to �86.6 MM (a �81 MM increase). For Bassett this would increase EMV from �12.9 MM to �69.0 MM (a �56 MM increase).

I think 2248 is the most likely for farm out, let�s hope for both!

Nice find mate

Still feeling confident with Clnr, fully loaded still, happy to sit and wait - I don't think those placees were a coincidence. Only difference now is my target has dropped from 9p to 5p post placing, I think a mkt cap of >�20mil is possible on a top deal.

Agreed Dibs, worst of all they tried to hide it in the figures with no mention in the main statement. Mkt Cap 8.5mil ish, revenue 2.4mil ish, not profitable, not breaking even. Mkt Cap currently over 3 times revenue without profit. (Less assets). Been watching this for a while and I�m glad I stayed away, would be surprised to see this down another 15% tomorrow once people read between the lines.