Tom Winnifrith Bearcast 17 Feb - If we vote for Brexit will Emma Thompson please fuck off & live in Germany?

Comments

1. ---

   Drunken Sailor

   17 February 2016, 08:02

   The cravings will be a bit less tomorrow but not much. But after 72 hours the nicotine will be completely out of your system and it gets better day after day from there.

   To cheer you up in the meantime an e-mail chain between me and a republic of Ireland national, who thinks Britain won’t survive outside the EU because we are a small Island (5th largest economy in the world) off the coast of Europe:

   From Me to Paddy:

   http://www.telegraph.co.uk/finance/economics/12158626/German-bail-in-plan-for-government-bonds-risks-blowing-up-the-euro.html

   “The greatest risks are for banks in Greece, Portugal, Spain, Ireland and Italy,”

   Enjoy taking it up the arse from Brussels and Berlin.

   “The German Council is defiant. It swats aside any talk of an EU treasury or shared fiscal authority. The only way to uphold monetary union is to impose strict control – it said – and “reinforce existing rules”. “

   From Paddy back to me:

   Bring back the home guard.

   From me to Paddy:

   Portugal, Italy Greece and Spain all have the excuse of being southern Europe where it gets hot and they need a siesta and it will have to wait until Mañana. What is Ireland’s excuse?

   From Paddy to me:

   We were busy making the sun set on a delusional empire n didnt have time for the economy. [the sun still does not set on the British Empire thanks to the various rocks and useless sandbars that are still “British” around the globe, as I had previously reminded him when asking about the Irish empire]

   From me to paddy:

   Great, come over for a curry when you next have a potato famine.

2. ---

   SteveSan

   17 February 2016, 08:30

   hey, what happened to the Edenville (EDL) update?

3. ---

   sdh

   17 February 2016, 08:53

   Does anyone know precisely how much this well cost to drill?

   In order to assess any commercial prospects we need to know the cost of drilling the well and also a detailed real production history of at least 6 months.

   8 Companies have shared the costs of drilling this well behind the obscure black box which is HHDL and an equally opaque private company Angus Energy Ltd.

   One would imagine that these costs are very high and that going forward from here in addition to high CAPEX and OPEX costs there also heavy legal and admin costs and lengthy time delays fighting for planning approval. HHDL have stated they want to horizontally drill wells and permission for that is going to take a long time against the drag of inevitable protests. This well wad spudded on 3rd September 2014 and reached TD of 8860 feet on 5th November 2014. It then took well over a year until February 3rd 2016 for them to start flow tests. That shows you the amount of problems development at Horse Hill is going to face.

   This is just a test period – real production is by no means guaranteed and may still be years away. Admittedly there are still two additional pay areas to test which could amount to more oil. If I was to invest in this venture I would like to see this well flowing for a good 6 months to get an idea of both initial production rates but more important decline rates before committing any significant funds to drilling more wells.

   In the meantime no doubt all the PLCs will get further placings away and Angus may go public as was indicated November last year.

   http://www.thisismoney.co.uk/money/news/article-3337735/Angus-Energy-planning-join-stock-market-raise-millions-expand-drilling-operations-Surrey-Sussex.html

   We are a very long way before we can ascribe any kind of realistic value to this well, to Horse Hill and to the various PLCs involved in the venture with their various percentage holdings.

   If the well cost £5 million in CAPEX then at 450 bopd and $10 genuine profit on every barrel it would take 1666 days or 4.5 years of continuous operation producing 450 bopd to merely cover the initial CAPEX. Lucky for these companies that all the CAPEX costs are paid for with free money from investors via confetti equity issuance, but these costs still need to be factored in. This is why these sociopaths are so cavalier with funding CAPEX and bleeding investors dry. They don’t count money raised from investors for CAPEX as a real cost because it initially sits on the balance sheet as a pristine asset. If you raise £5 million to build a factory that asset can be relied upon for decades and not only pays for itself but also substantially increases in value. As we have seen with LGO who had far more impressive initial production figures than those shown here, that these oil wells can deplete over 80% within a year. The value of the asset depletes 80% like finding that factory you built has shrunk to 20% of its size in less than a year. The loss of production sets up demand for unending new CAPEX requirements and all the placings required to fulfil them on a treadmill of equity issuance. The unprofitable nature of these companies is hidden by excluding such losses from the underlying business model as impairments – but they are the source of their declared operating losses year in and year out.

   As with all AIM companies there will be winners and losers. The winners will be day traders who trade shares up and down and the losers will be long term holders waiting for all these companies to become self-funding, profitable and hopefully start paying dividends.

   The chances of these companies ever becoming self-funding or profitable are zero. They all survive on zombie equity issues to cover their spiralling CAPEX,OPEX, admin and PLC costs. I doubt that the horse Hill Ensemble will prove any different.

4. ---

   Striebs

   17 February 2016, 09:22

   Chalk me down as another in favour of ETexit .

   If we manage to escape the EU , there must be a purge of the fifth columnists who have infiltrated every organ of the British administration over the last 45 years .

   They have been acting as agents of the EU . Given that they won’t be shot , that is where they should be deported .

5. ---

   Paul Scott

   17 February 2016, 10:39

   Haha, entertaining bearcast! (especially the Auf Wiedersehen, pet!). Totally agree with you about nauseating millionaire lefties running down Britain – feck the lot of them!

   Good luck with the non-smoking, I know how awful the withdrawal symptoms are from personal experience when I went cold turkey on a 60-a-day habit in 2004.

   I’m pleased to see that BooHoo are attending the investor show. Are you finally ready to admit that you got that one wrong, and I was right?!!! ;-)

   Regards, Paul.

6. ---

   chris

   17 February 2016, 11:19

   Have a fag for fuck sake. “You’ve got to die of something, might as well be something they can cure”.

7. ---

   Andy

   17 February 2016, 12:12

   Good one Chris – I wonder if uk stay in EU where TW will fuck off to?!

8. ---

   warun boofit

   17 February 2016, 13:47

   While researching the meaning of ‘lefty luvvie’ and finding out who is Emma Thompson as I had never heard of her before today I skenned the archives of TWs favourite Guardian newspaper and discovered a dead ringer old bag called Christine Lagerd who replaced the dirty little frenchman at the IMF. This bitch apparently pays no tax yet had the cheek to tell the Irish in return for the bailout that the proles must pay more tax and the stupid bastards instead of telling her to fuck off back to her coven rolled over for a tummy tickle. These bitches have more in common than their broomsticks and wrinkly faces,

9. ---

   wildrides

   17 February 2016, 14:54

   NoooooO ………dont have a fag ………..its fun watching the suffering and the karma in action for all the rude things you said about that nice man Mr Ritson ;-)

   I hope its really really bad tomorrow ………. so bad you have to give in and then seriously abuse Malcolm and also Oakley gets no dinner and goes on mouse catching strike .

   Marvelous how that Scotty manages to do his blog every day on the Stock Paedofile site and then do “Pointless” for the Beeb in the afternoon . No wonder he has to party hard at the weekend to recharge.

10. ---

    Tom Winnifrith

    18 February 2016, 02:27

    Stevesan – see noted added.

    Andy you really are an arse. Whether we stay in EU or not the Mrs has a house in Greece, that is not a secret and is the answer to your question

    t