Member Info for Yoghurt

is it like snowdonia?
Punk has been on the IPA.

Booked in for the 14th, see some of you there. DW is honest and blunt so F2F is always welcomed and warms my sentiment.
GLA

...fully funded six drill campaign....jog on

I really liked Mike Bucks positive outlook on that call. Lots of when not if ref making discoveries.
The Shell 'make sure you drill WH' is also a bit of a tease....he also says two super majors are part of 4 interested parties in comms with pm during the call, are Shell still looking over the fence and was the WH reference one of drill it and if it is as good as it looks we will be back?

They will be obtaining an awful lots of information from this drill. all good.

Nice thing about the SL drill is as a play opener. If it is commercial great all the better, but even as a worse case scenario it will give them all the horizon information to interpret the remaining acreage and position any potential future drills where they see horizons with newly interpreted pay.

The Bahamas has been on the precipice of oil drilling, with the Bahamas Petroleum Company announcing recently that it has partnered with a globally recognized oil explorer, which could not yet be publicly named.

Talk about out of context with the rest of the piece.....or is it?

The rig and drill crew will move to WH regardless, a simple workover rig will perform the completion of payzones

65% 17th July
75% 24th July
85% 7th August
...% 23rd Aug?

understandably they have been a little vague, first drill and all, multiple zones, follow up wh drill, in the gobi desert. fair enough id say. what an opportunity this is. agree with their conservative approach, under promise and try to over deliver.

75mpd is conservative IMO (assuming access to all rig and pipe requirements are easily to hand) that includes casing off whichever sectors look good on the logs. So first zone is water table depth and then cased so they can then switch from water to mud, get through first potential zone and case as appropriate, second bonus zone and case or continue etc. From other drillers experience at this stage it appears they case off potential hydrocarbon zones so they don't get wellbore washout and that would mean the hole is too sketchy and could mean they cement it up and hinder fllow later on when perforating any potential zone. So ideally you have a drill case through a zone with layers of net pay behind a tidy cased section on pipe and cement. You dont want to drill through a potential payzone without casing it or your mud weight and pumping will potentially screw that payzone.
With two real targets and multiple bonus zones you ideally start off with a big rig and large casing so you dont run out of pipe width and compromise drill bit size when your deep in the key target high pressure last leg.

For sport whilst we wait - How about a list of reasons why we might be waiting so long? Please add to the list as anyone sees fit.
1) Selling on seismic only.
2) Structuring a deal pre drill but that would protect all 3 drills.
3) Holding off spud to use delay as leverage for best GSA agreement.
4) Holding off spud to use delay as leverage over Morocco Tax scheme for exploration that is in debate?
5) Schulmberger will only drill on their data processing of TE9 not Shearwaters fast track reprocessing x3 lines.
6) Holding off spud to line up 9/10/11 back2back process
7) We are just slow and miss deadlines
8) It was always going to take this long but if we all knew that last October we would have had kittens

To paraphrase JP he answered along the lines of not an issue, working together closely didn't think they would do anything negative etc.

The MikeGP/JonR angle is an interesting one in light of the year anniversary and Schulmberger crystallizing their %.

I asked this question ref OGIF trading post 1yr anniversary at the AGM Q&A.
hTTps://www.youtube.com/watch?v=4UYe-bW-Y6I&t=850s

On the basis John, Jason and Brian were at TE9 on or near the 30th July can we assume they met up with Luca for his leaving bash?
If so they might still be hungover!

Thanks MisterP. So what of Falcon. In Spring it was WH & Falcon drills but by June SL/WH.

Ponkey, I'm as impatient at the next person but we will miss this waiting around when it is all over. I hope!

I have surrendered to the process & am now trying to educate myself on Pharma for 2019+ and where to stick some sound profits.

JP FSC 3rd July:-
I understand that all investors can become impatient when timelines are not met. Oil and gas is a long term and capital intensive business. Sometimes there are trade offs between timelines and outcomes. These aren't always obvious from the outside but to a degree investors have to trust the Board and Execs to get on with the business at the right pace. Generally I am more focused on the outcomes than the precise timings.

Or has Falcon just been renamed Fox?

At what point was the drilling from Falcon & WH1 program switched to SL & WH?

What kind of protection for shareholders can any company offer in exploration?
The overall protection I think a lot of us here feel is three spins for free on an NPV for TE5 already above SP.

There is a reverse protection for shareholders. If the value is not in 9 or even 9 & 10 but in 11 then you'd have value in the ability to get to that point which you've traded against some hydrocarbon value. To actually drill and have the exploration potential upside.