Member Info for zeusfurla

BWM

Thanks. That is a fair reflection of my views. I'd recommend listening to the proactive presentation (alongside the RNS) if you haven't done so already - these are very helpful in forming an understanding and in further determining confidence in the management team. Key points for me were the references in today's updated presentation as well as proactive to the newest seismic data acquired and how this mapped well onto Serenity, within expected tolerances. What I heard encouraged me to top up quite a bit today. Whilst I agree that success in the next drill will likely relesase $100m funding, the current sp is in my view significantly lower than it should be, even taking account of very poor sentiment across the O&G sector at present.

BWM Thanks for your reply. No offence was intended but accuracy in information is important when financial decisions are being taken by PI's.

I believe your comment on risk at Liberator could be potentially misleading to others so I will clarify further. The increase in risk referred to relates to Liberator West, which asset I would say is hardly reflected in the sp at present. However, Liberator Phase 1, with improved seismic data and a reduced STOIIP, is potentially due to deliver oil next year and is de-risked to some extent with the VSP, seismic data etc.

Best zeus

£8m warrants at 40.7p, £8m at 48.1p and £8m at 55.5p. Were we trading in the 40-42p range today due to forward selling of warrants. I recall some thought that warrants were being forward sold on the sp rise to c55p a while back but it could be happening now. Interested to hear others views.

Backwoodsman

A couple of simple points from me. If you are looking for an entry point surely yesterday would have been better than today and last week better than this week. I simply cannot take your 'entry point' comment seriously.

Secondly, today's huge discovery at Serenity has de-risked PI's investing in i3E not increased it. The success of the new seismic ay Serenity has also de-risked the next drill at Liberator. To say the risk has increased is untrue for Liberator Phase 1 where STOIIP has decreased not increased.

Croz2492 I also noticed the body language. There may be a few things left unsaid by Majid but in any event it increases options for developing Serenity and de-risks our investments.

Having just listened to the presentation what I was particularly impressed by was the professionalism, accuracy, attention to detail, humility and overall the consistency with previous messaging. I can only stress what I think BBN has said before that it is important to read what is written and listen to what is said by the company. At first I had some doubts on the comms from the company but I am now as confident as I can be in the management team. I also like the fact that when circumstances change they change their plans. Another sign of experience - thay are not afraid to admit they get some things wrong and then modify their plans and adapt. High degree of professionalism. The final thought from me is that the new seismic, now that I understand it better (you can see an example on today's slides) appears to have significantly de-risked Liberator Phase 1 - the next drill. Much to look forward to and I wouldn't be at all surprised to see the return of some II's in the coming weeks and months.

There does appear to be a bcakground seller around (as well as traders exiting) but given the volume today not much left to sell I'd hope. I saw 350k for sale at 43p in the auction so likely some more to sell but buying pressure is good and once selling pressure eases we should see a decent rise in sp over the next few days. I added a few today in the low 40's. Also looked like there is a MM with shares and others who want tp push the sp up pnow they have shares to sell. Will no doubt play out over the next few days. This is definitely not the time to sell imho.

BBN - I like the fact that you are a philospopher at heart!

MM's are spiking this down to atract sellers (there are quite a few) to put shares in their pockets to sell at the higher sp's to come. Sit tight.

Totally agree. This is not a short-term hold. Considerable upside to come.

Early MM prices (a long way until 8am) showing 47/50p.

i3E was trading at 55p with no oil at Serenity. Should exceed this. I would also hope we will attract some II's back into the fold. Miton must be feeling pretty bad today.

I am strongly encouraged again by the way the Board has informed the market of news this morning. This is a thorough and confidence-building update to the market which is goin gout of its way to try to answer as many questions as may be anticipated as coming from PI's. The discovery is excellent news. More importantly the seismic interpretation, which was in some doubt in some minds, must give greater confidence to PI's. Wioth the rig operator deferring payment, this is a hugely confidence-building moment and I believe transformational for i3E whatever may arise from the next drill.

Personal thanks from me to BBN who shored up my wavering confidence through detailed insights. I would be less fully invested without his insights.

Happy to ficus on the positives of repeated buying. We always knew that until 7E is signed off the sp would be managed down for the benefit of those acquiring shares at sign-off. I'm sure many PI's (including myself) have taken advantage of the suppressed sp to buy prior to completion. Not long to wait now.

BigBiteNow

Can I confirm that when you said - ‘However, right now the existence of a geological sidetrack on a 'exploration' drill is pointing now towards a drill that has missed its target.... the word 'now' should have said 'not'? That would be my interpretation of the logic in your comments.

From what I can see, it is morte likely than not that oil is there but commerciality cannot be known until results are published and tests are done. Even to say that is speculation but it is the most prbable view imho. Very good chance we'll find out more tomorrow.

I also hope for an update on L2 this week given that we've had a few weeks since the initial outcome was reported.

Casca first results within 2 weeks frm now from what I recall Paul saying.

My main concern with TXP is not the quality of management (very happy there) or the assets (looks strong across the board) or even the tax regime (not good but profitable nonetheless as long as Brent stays at a decent level) - it is where are we going to find new investors to buy into this story, which is a positive one in my view. Liquidity and risk appetitie are low just now so I am just encouraging patience all round as we will see value reflected in the sp at some point. It m ay even have been rossannan who made the new investor point and if so thanks for that. It is important thought to take a balanced view of the positive and negative and always re-visit. I enjopy challenge to my views but not repeated points which have already been debated - that just clogs up the Boards. Signing off for now - GLA.

I don't know aboiut others but I am getting fed up heariung the same negative conversation about funding and placing for weeks on end. Either you trust Paul and the team and invest or go away and invest elsewhere. To repeat myself, Royston will be delayed by a quarter (in 2020) if needed (according to Paul) if Brent prices don't allow earlier drilling. There is cash for Casca and Chinook. If Coho and Casca are a success a tactical placing may be possible to accelerate future development drilling and in my view that would be a very good thing. It's obvious that after significant buying yesterday and minimal selling today that the MM's are happy to keep the sp down just now. It's only 1-2 weeks for results and I am happy to have added c80k shares earlier in the week. Good luck to all!

nen2319 Agreed. I think it is a great prospect with cash generation funding exploration but the AIM market is there to make profits for the MM's and not PI's. Still, news should be here by the end of next week - not sure it's this week, but it is coming.

Interestingly for most of Friday and all of today there are no MM's offering any shares inside the official offer price (currently 22.9p). Only allowinmg buying of smaller quantities unless you are willing to pay outside the offer. We seem to be in a holding period just waiting for upside news. This is a very positive time to hold SAVP.

PB mentioned that TD for Casca would be by 31 October and that the 1st flow test results would be ready a week from today but there are 2 intervals being tested so may be another week for results. I think ressults any tiome from early next week though more likely the following week.