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and if you look at the other link you can see the area of the discovery well area
is all covered by the 3d now being reprocessed by TGS
https://www.energy-pedia.com/news/australia/tgs-to-enhance-cross-border-seismic-survey-for-offshore-timor-leste-and-australia-licence-rounds-182614
yes PB
the 2 links I just posted show the sheer scale , size and upside established by Shell
but as said earlier having failed to RTO 100% of SG 2-3 years back , why the sudden
urgency to raise and take a bigger stake NOW ?
Others are finally after all these years getting back to work south of Timor Leste
perhaps the rumour of talks in the background have some merit and we will have
some sort of news / movement on the license, long before the seismic arrives
:))
HFB. When you look at what BOIL have raised ,all those Billions of shares is taking a huge risk,unless they knew something compelling to persuade them.Thats the scenario which makes our involvement so attractive. Why w ok uld a minnow like Baron take such a gamble unless they were convinced it was going to pay off Big Time
Always Shuston
as you know I am a great fan of the Bard of the Market
and when asked what are the 3 most important ingredients to successful investing
Warren E Buffett replied
Patience , Patience and oh yes Patience
:))
Steve as
it goes like this Australia and Timor Leste had a falling out for many years over who
got to do what , owned what etc for all the Oil/Gas in the JPDA as it was known back
then , basically the large Timor Gap seaway between the countries
Force majures all over the place and all ground to a halt, nothing moving nothing
being developed , after a lot of years, some agreements made to return licenses
to government etc and Major players like Shell (owned our license) and USA
Conoco Phillips departed
This allowed lesser lights to move in an pick up licenses for a song, in our case a
newly formed Singapore registered outfit SundaGas picked up the available 75%
of Chuditch - all licenses auto 25% remain Government state NOC owned
2-3 years ago our BOD attempted to steal their steal with an RTO of 100% sundagas
market was not good at the time and could not raise enough finance, so just took
33% of SG giving an indirect 25% holding in the license
We have just raised finance to take that up to 85% and 64% (why now is the question)
Prior to their exit SHELL owned Chuditch license ,spent 37 Million on development and
drilled the large Gas discovery well in 1998 and put out a report of acoss the Chuditch
leads 5.73 TCF = 974mboe with upside of other leads to the South West suspected Oil
and/or condensate
If the new seismic proves its all still in place our minnow owns a MONSTER
developed by a Major
Appreciate your insightful posts @hopingforbags.
I've been in BOIL since last June (trading it) but given the recent placement and news of increased holding in SundaGas, I have started to build a stake in it.
Patience friend.
Be glad that you have already had the foresight to have invested in both!
Ps, the equivalent expenditure originally by Shell would be nearly £60m in today's money.
GLA
we are both in the same boat m8, I have been in for years and would like
to add some real chunks but our mutual suspended rto share holding a
considerable part of my PF right now (sod's law) lol
anytime J
Cricky, having to wrap a towel under my chin, as I am salivating so much with each new informed post!
I thought I was lucky with COPL, but this is in another league .
I would be happy if only 50% came off. But looks like the old Shell discovery that they spent £37M developing and concluding that there is 100% chance of significant resource!
Sh t need to grab another towel. Lol
GLA
Shouston
hey m8 how interesting it appears they still have an office in Timor leste
(East Timor) lol
Shell did hold with Conoco Phillips a large chunk of the mega Greater Sunrise Gas
field as well as Chuditch before they moved on lol
All waking up again in the area film title coming - Return of the Shell , Chuditch awakes
lol :))
https://www.shell.com/about-us/contact-us/contact-east-timor.html
Thanks for such a comprehensive reply, HFB, it is much appreciated. I am even happier now that I invested. I’d be ecstatic if we hit 1p. Any higher than that and we enter the realms of what I’d consider to be mind-boggling amounts of money. Wishing us all the best. J.
At the moment the sky's the limit, the eventual price who knows, I never use sp
its a meaningless parameter only of use to the here and now Traders, skimmers
and scalpers
its a function of Market Capital divided by shares in issue (could go up / down consolidate)
I always look at things in term of the one thing that counts ACHEIVABLE market capital
value
at the moment we a floating MC £4-£5 Million with an asset that could be worth Billions
e.g. copl currently in rto they have 31m barrels of oil reserves with upside, at the point of
deal the going rate in the USA was $7.5 per barrel in the ground value alone makes £167.5m
Shell developed the Chuditch license and have historical 5.73 TCF Gas which at standard
conversion rate of 1TCF = 170M barrels = 974 mboe HOW MUCH IS THAT WORTH at in the
ground prices npv 10 / regional risk for area ?
a lot more than 31m at £167.5m that's for sure, at a mere $1 its almost a billion
The next bit is how much further dilution we make to fund drilling and or who comes
in as the major operator partner and at what percentage of the license, they could
pay us millions in cash , we retain x% or a free carry on a well program
BUT in each case the sheer scale of the license , Shell also noted multiple other leads
on the other side of the license 2 of which it though could be large oil or condensate
reservoirs
IF not taken out completely early doors for a suitable HIGH offer, even a retention of
15% with say the original operator Shell taking 60% the local Gov NOC has 25%
Could still leave us with an asset worth hundreds of million and higher with a market
assigned P/E when in production
Lets get to 0.5p and then 1p first and see where events take it lol
:))
Hi HFB, I bought a few Boil shares for the first time this week after doing some research and reading your very informative posts. One question - the $64 million dollar question - is what price, in your opinion, could this share reach if all the stars align? All the best, J.
Fact for you Sant, not a share in our position has ever moved up quickly
until the placing shifted from those looking to de-risk or get out quickly
with safe profits from cheap discounted shares
Will always move when THEY are ready to move, unless we get an equally big
buyer soaking them up quicker, once in STICKY hands, no huge dumper to hold
the rise back.......kaboooooooooom , breakout , up up and away
:))
IF our license gets recognised as what it is, per Shells development, the reserves in
the ground alone, would be worth a mega multi bagger
Same as when Petrel, written off worth billions stranded Iraqi oil fields, on the anticipation
of their possible, probable, maybe return to development roared from 1p to 33p on
the back of chancer HNW's generously (cough) paying half price 0.5p to take a stake in the
company
IF Shell or other return to JV , others already in play drilling oil and gas assets around Timor
Leste after years of zero activity, impasse, politics who owns what TL/OZ in the Timor Gap
seaway between the two countries, then watch the little gem go supersonic
Alternate we have to wait for either last years entire area TGS seismic survey 2d cubed tech
done for the new 2nd licensing round last summer for a bidders data room, to be revealed
or the results of the new as announced reprocess of the 2012 3D again by TGS which
covers a large area including the North East of our license including the Chuditch discovery
drill area
The discovery well drilled in 1998, the 3d 14 years later, if seal etc show intact etc again
we should go ballistic as no reason to suspect they have changed given the Greater
Sunrise and others nearer the regional earthquake epi-centre are ALL OK !
Think that is the only reason Boil did not get a better reception when it failed to RTO
SundaGas 2-3 years ago and just took 33% sg / indirect 25% of license
All the Shell results and data 20-30 years old, market holding back for more up to
date data and analysis of the license.
It will double in no time ..... it’s dangerous to be out of this sone
Shouston
With the new shares issued to market tomorrow, would it be wrong to assume that by this time next week the overhang should be finished?
And price can start to rise..
I think it may rise tomorrow if not .....Friday / Monday we will be well in blue
Get your shares lads
.......bob
It really does seem the Wongas are not holding back. Soon be done then we can start to go North
We all know it.!
A sticky fingwe Tr 1 would be a great signal. I'm watching for a 7am RNS.
would be nice but , in my experience when an Oil major comes into a share
boy do you know it , the £ Million/s TRADES drop in :))
Deep pockets , they threw away £1.5m just to have exclusivity on BPC Bahamas
we have 20 Billion barrels of oil for 6 months at £250k p.m - Then walked away
French Maurel Prom banged 3 trades in £1.6m , £2.2m and £2.4m, printed 3 days delayed
after close 3 days in a row at premium to available prices on the days of trades placed
you know when they arrive its very big and very loud LOL
:))
SHELL......!
as said earlier m8, some prompt tr1's for a change and the names attached will
give more clarity as to wonga lender, don't care leaving all out, or a de risking
their 0.05 shares at these prices slightly more sticky holder looking for an even
cheaper average to freebie into the future of the company
The right names on a TR1 can multi bag a share alone :))
It really does seem the Wongas are not holding back. Soon be done then we can start to go North
True Shouston but that's a fraction of 6000m lol
:))
but price still holding up well through the first tranche dump so far those 4 x 125m
delayed earlier 500m of it lol
and still getting what appears to be some buyers in the £15-20k region taking some
of the extra slack and another delayed 50m trade print since
14:20:58 0.07 50,000,000 £35.00k
Not all of the second tranche will be sold as, circa 100 million are from DIRECTOR buys.