Member Info for wordog

Cash will last a decade at current burn. Licence expiry in 2 years and the board believe they have already met the extension requirement. For all these reasons I have topped up today.

Mkt cap is currently £14.5mil Cash as at June 15 £9.65 mil That prices resources and assets at c£5mil. Discuss.

http://www.fig.gov.fk/minerals/index.php/licencing/production-licences For a 5 year licence the requirement is to conduct, 2D & 3D seismic and drill at least one exploration well.

cheers

The licence is renewed once the conditions are met, i,e, Rhea being drilled. Chill your beans.

Probably looking at December now. At least the weather will be better.

They seem happy to sit it out, enough cash to keep them afloat for a decade at current cash burn. My only concern is, when does the licence expire exactly?

Yes, but often companies say they will do it then don't. I doubt they will. Rhea is an all or nothing drill really. I'm hoping we get over 10p so I can de risk. If Rhea doesn't come in then this company is next to worthless. If NBL keep the licence it will be a while before another well is drilled on our acreage, but they will essentially be renting it. We literally have enough money to pay salaries and nothing else.

Didn't realise how close to going bust we were!

Let's see if we can push 10p

...I still need another 180% to break even. Maybe a top up is needed

Looks all good to me, surprised the SP isn't up more, especially given how poorly other companies are performing. I'm not invested here but have been watching for some time - maybe now's a good time to get in.

EIS for Rhea-1 well submitted by NBL and approved by FIG. Good to go.

I did a little top up yesterday, If we saw 12p on farm out news, i'd expect 10p on spud as the generic Falklands investors follow the rig.

He finished his pump and dump and moved to pastured new.

Results due in 2 weeks or so I think. Good time to load up here?

Thanks

Where did you find that info mate?

not many buys here though

What an idiot.