Member Info for Zebra04

"The city" has little influence on this share. No funds are invested. Market cap is far below what they are allowed to invest in. Market size is only 30k.

Mms can move this on miniscule volume either way and take out retail investors stop losses. Largely sentiment.

If mou1 is a success then mou2 is highly likely so we have reserves based lending, cng deals still in play. If the company runs out of money to complete mou2 as youre implying then we should have no problems getting the cash.

You can eat what you want but you haven't expalined why we are forced to raise at a 2 year low?

Mem and older&wiser why would you raise during mou1 testing phase?

Until a week ago mou1 was the most up to date data we had and you were both bullish.

Older&wiser you felt 9p was a bargain. Mem predicting sky high share prices.

Mem I think if mou1 flows commercially then the timing of getting the 1mil back is not a concern as we have proved up it's commercial and we have cng deals.

So now instead of waiting for mou1 results and a much higher sp why would you both chose to raise at these levels?

Maybe it's just me but I can't imagine Paul proving up it's commercial and then deciding to dilute himself.

Jonmo

Doesn't it makes sense that testing on mou1 releases 1mil loan back to the company and also allows signing of contracts with gas off takers which is then used to fund mou 3.

Instead why do u think we should raise before all that? I'm genuinely curious. The company has said nothing has changed which would include being solvent. So why would u raise at this point?

Olderandwiser

I think the only ones feeling embarrassed are those that sold at 3/4p. Unless you were here a very long time then you sold at a loss because of a 4-6 week delay on finding an amazing seal. 200m thick.

A week ago we didn't even know when we spudded and were at 8p.

Many will buy back in.

He gave away enough to reassure the markets. Of course there will be increased costs on mud side of things but they're not significant nor a concern to the company.

"Nothing has changed" doesn't work if costs now exceed what you have in the bank and a raise is needed.

The interview was pretty clear.

@muntene

You may find it hard to believe but the alternative is accusing Paul of lying to investors.

The rig is next in use by sdx in morroco. Star valley may have thier own provisions and the crew stay in country. We don't know so personally I'll take Paul's word for it.

Lonny has worked with star valley far longer. If we find the cpr reserves, there's plenty of more work for star valley.

Mou-1 tests results rns to look forward to next.

At least we have a spud date now. No costs for rig sitting on site shows a great relation with star valley. Contrary to what the bears were saying.

Jonmo

Drilling had to be stopped so of course they have to tell shareholders as that wasn't the plan.

Yes we didn't know when they started but it would be worse if they withheld this information. Lot of geologists on the boards have taken the information as positive. Spud date was more a courtesy and relevant to those trying to trade the stock.

Also this is the 2nd time we've used star valleys rig. So far we're a $5mil customer to date.

We plan to drill more Wells in the future and so are a potential $10mil + customer.

Star valley has all the data paul had predrill to optimise thier drilling. Thier rig slowed down to 1/m hour meaning thier costs increased. They bare some responsibility too.

I can't imagine them charging us much for the rig sitting idle.

Sheep I don't think there's any need.

Mud engineer will be able to handle the clay. Test it, do the calculations and then order in right chemicals and good to go.

Mud engineering has decades of advances.

He could be anticipating mou1 results by 1st Feb and rns it and then do interview same day.

To add to Jimmy's post.

Next rns could be mou1 testing results. Last rns said they were proceeding with extensive testing of it.

And so far no rns stating we've incurred any additional costs despite the rig being there twice as long.

You said the cost was for 12-15 so by that logic the cost should have doubled for 29 days.

Do you have any inside information showing we've incurred 2.5mil extra costs already as you're stating its a day rate?

Like you said star valley is not a charity so we would've paid that sum already. Where did we get that extra $2.5mil from.

Despite all that you think we need another £2mil to get to TD.

Jemgee you showed up after last rns. Not hard to predict it will fall.

We already have funds for rigless testing of mou1. So why would we run out after doing mud work on mou1.
£1mil also released if successful testing.

John that was to reach to 1500m.

Of course there will but to suggest £2mil plus whatever we have in the bank is ludicrous. We've drilled 85% of the depth already and need some chemicals to drill the remaining 15%.

It cost 2.5mil dollars for total depth drill

Remember the rig stays in morroco in star valleys storage and has no other short term need. We don't know what the agreement is but Paul and them have decided keep the rig on site. Saves on dismantling, transport and reassembling costs. We don't know any further details of costs being incurred and what happens to the additional days of drilling we paid for upfront that have not beeb utilised.

Why is 2 million needed for some chemicals and 250m drill. You're also assuming the company has 0 in the bank.