Member Info for wwal17

Yeah, with my builder, he has set deadlines he has to meet on the extension or he pays the penalty, clear plan with built in contingencies, no bull crap, timeframes are stuck to. I want the extension built before the cost of materials go up and the cost of lending goes through the roof!

Ah ok Steve, thanks for clearing up.

Why did he pay off $3 million off the debt pile if he was going to need additional borrowing? The lack of foresight is a little worrying.

P.s fish you’re like a bad smell.

Some very fair points Stas and no doubt all will come out in the wash.

Just to note, you seem to have completely changed your bullish outlook on this share, are you still holding with an average of 20p odd?

Are we still ruling CNOOC out? They already have a stake and will be looking at opportunities now that the US has barred China from buying their reserves.

https://www.reuters.com/business/energy/us-house-passes-bill-banning-exports-reserve-oil-china-2023-01-12/

I think Art knows exactly what he’s doing, he uses the news flow or lack of to play the market for his wonga mates as part of the lending agreements.

.06 was a gift Gordon but hindsight is a wonderful thing, like always I hope patience will be rewarded.

@ssccss do you have an opinion on true value here in the short term? I’ve held this for 4/5 years myself, thought once it hit the .30s it would carry on, average .15, thought that was decent until I seen the drop!

Anyone else gutted they didn’t average down at 6s and 7s? No reason it should ever have been that low.

It astounds me that people are jumped on for not having patience, I’ve been here Feckin 2 years, some people a lot longer, I have the patience of a saint!

Someone mentioned yesterday about why would a large oil company want to JV with a minnow, they would rather just take us out. The more I think about this, the more it makes sense, maybe these discussions are taking longer as the Large oil company has come back with a counter offer..

I for one, cannot wait to see these JV terms, let’s hope we’re pleasantly surprised…those of us invested anyway!

Highs of 7 degrees and lows of 0 degrees tomorrow, full steam ahead, perfect drilling weather!

Cheers gents.

“ 1 - Seven well recompletions = revised cost per well AM stated at $100k in interview, so must not need stimulation , original estimates included this, estimate of $400k per well = so $700k
Provides c 2800 bopd scale , 100% owned and unhedged = clear net profit of $2.8m p/m”

Can somebody point me to the evidence that states these new wells plan to give us 2800 bopd please? I can’t find anything and have noticed this figure has been used several times.

Any reasoning behind why these investors (none cornerstone) were given the opportunity of the bonds in the first place rather than an open offer to regular PIs?

Should have sold at 19p, when will I ever learn??

Who knows Wookie, the wonga finances have been an unfortunate necessary vehicle in the circumstances to get us to present day….will they pay off, I certainly hope so.

Reading back through old news releases, it just highlights again all the can kicking. The bonds were supposed to help us realise the RBL, Ryan is quoted several times saying end of year. I don’t mind waiting as long as there are no more unwelcome surprises to come.

There has always been something seriously fishy about the Anavio deal. In one of the documents detailing the small print terms, it stated that Anavio wanted a say on proceedings in the event of a takeover.

The only question is now, what type of takeover, friendly or hostile…

I’d prefer to use the “tap facility” whilst producing 60,000 barrels a month, handy yes but a show of strength…questionable.