LSE tonight, page-5865

the "ifs" of what i said were;
-that flowrates are at top end or above target (cos i cant see a great offer being put forward otherwise)
-that oil price regime remains where it is/has been now (ie; 45 to 55 range)
-an offer is made for the company for about 1.5bill or 30c post ICE2 before any further cap raisings

i believe that at such a stage this is NOT a lowball level at all...
i understand that DW somewhat retracted his 60p comment, stating later on to someone that it was just a general comment and not a specific target...

although the commerciality of the project may go to 75% or so chance of success after good/great flowrates, there will then be a much larger number of drills to be done with more infrastructure involved... and every one of those pieces will need to be successful to get anywhere near the valuations that some are dreaming of...
there will be major dilution of shares or of the project itself, over time... but every piece of further work will have to come in at a level of perfection that is second to none... what are the chances of that happening ?? does it go back to 50/50 again...
it is always possible with DW and PB at the helm... but if a farmout is done then it would be the operator who kindof calls the shots... i dont want 88e to get into a situation like oel with great bear...

nevertheless... my "ifs" are speculative... so i will definitely not get upset with comments going another way...

i do trust DW to do the right thing for improving shareholder value, cos he has about 100million pieces of paper ))
and would love to get a few more successful drills done in 2018 (with no or minimal farmout), in order to increase the value even further...
at least a successful horizontal on ICE1/2 location or a successful well on the western stacked conventional+HRZ...

but i cant stop thinking how post-ICE2 i would be happy to walk away with a 30c offer on the table... at that stage... it would be very very hard not to...