Member Info for Yobbo

Dire, ditto for a takeover. Any business thinking about a takeover given all the current known (and unknown) uncertainties would be reckless.

I'd settle for 7 pence at the moment.

So Suncor, Siccar Point and Spark have all been awarded acreage in block 205 and BP in 204

I don't think the price has been this low since about 1995.

The market has taken a pragmatic view on the situation and accepts it will still be getting a divi of 'only' 5%

It seems to be holding its price early doors with a slight bias upwards..

JAdam, I don't believe that dspp is a charlatan, he just has a different interpretation. I used to occasionally attend the odd reservoir management meeting three jobs ago, and even with some of the best people in the industry sitting around the table you get divergent views even on conventional reservoirs early in a project. Over time once more information came in. their opinions would slowly come together towards better understanding and a solution. It is detailed reservoir information that is in the public domain that we lack so you will get divergent opinions and differing theories as to what is going on. Trice wasn't a fool and neither were the guys who independently wrote the CPR and checked HUR's data (including the Oil down to and water depth).

I am still refusing to get too hung up about the water issue provided that it doesn't increase exponentially, they can manage it between now and next year when they drill some more producers. I still don't entirely rule out the perched water theory. 11% at this stage is a little disappointing, but compare that to the wider North Sea where for every barrel of oil that comes ashore there are now four barrels of water produced i.e. the Oil being a percentage of the water produced rather that the water being a percentage of the Oil.

They should have phrased the Lincoln part of the RNS better as it appears to be good news.

It takes more than two views to make a market and we certainly need his, so I am also hoping Longwait will return.

Stanley, thanks. good stuff.

Can someone help me here. If they were going to P&A, why would they be over the well now reading the gauges ? Assuming that is what they are doing.

It looked a bit strange today. I was looking to buy a small number, but sometimes when I looked there was really wide spreads, so I didn't buy. I eventually got the price I wanted to pay as the price petered out at the end of the day.

Until they address the debt problems of the shale companies I see structural problems for some time that will cause the sector to struggle. They have drilled out most of the sweet spots yet still carry large debt. There needs to be a wider correction first and that will mean a few more Chesapeakes

Thx Missdosh for staying around despite all the recent nonsense.

Hasn't the potential purchaser got to get past the three largest shareholders, all of whom are under water? Don't they hold over 30% between them ? Maybe they could be tempted to cut their losses ?

Putting aside all the current trading shenanigans, does anyone care to speculate when the next uplift from the AM will be ? It can't be long.

Directors buying shares in April is a bit of a positive. They share the pain and hopefully future gain.

Maybe it is him that is selling?

Fred, I am with you. I had a very brief discussion with a water management expert that I know back in February. While perched water is not a big issue in conventional reservoir it can happen and it is apparently relatively easy to identify. As previously said elsewhere the temperature tends to be different to the aquifer, but also the chemistry can also be subtly different to the aquifer as it has been separated from it for so long. The great unknown though is the volume of the perched water. There are other indicators as well but they are well above my level of understanding. I will feel really sorry for Trice if he is vindicated and the water cut suddenly dries up.