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F/R you're like a broken record - PM have looked after the long term.prospects of the business - you're only p*ssed because you wanted to make a killing leading up to spud and because of the placing you can't now - perhaps PM should of picked the phone up and asked you first before making decisions !!! You might be happy then - why dont you stop acting like a total k*ob trying to **** the business off and bring the SP down so you can buy back in - why dont you back it instead - because if what a lot of PI's believe will happen, a farm in happens we will all.be happy - as i said why not try and stop.acting like a total.k*ob
F/R: Agreed: This is Mongolia. Agreed this is PM - and hopefully their mgmt decisions will ultimately screw you as you've not deserved any better. Just for the record: They haven't screwed me as an LTH. Your investment strategy seems to be more screwable. Good luck with that!
Keep repeating yourself about 20% cos but guess your looked my for an entry otherwise you wouldn't spend your weekend here, just like you did when the first placement happened earlier this year. Sad individual..
Don’t forget this is Mongolia though and also a company that has screwed private investors time and time again including most recently with a huge placing. The only way they will regain investor trust is with an oil strike, and the placing has done little to instil confidence of that on the first 20% COS drill, weds 4th July will be an interesting trading day as all those placing shares hit the market, how many flippers took the placing without having the cash to pay for the shares.... we will find out on the 4th but I expect a sell off which should attract buyers around the 8.5p mark imo
Fundy222,listen very carefully to Mike Bucks,analysis of block 4 and 5, 20% cos attributed to these blocks as frontier development, then your rash statement of a duster,knowing that the outcrop rocks are oil bearing,having listened three times,and the BG group interest, I think you will wake up one day in the not to distant future,eating your words,I certainly hope so.
We have not done one of these for some time. Current MC circa £62 million @ 662 million shares of which half is cash. So the assets are currently priced in at circa £30 million. The first two wells have mean prospective resources of 570 MMbo. $5 a barrel with a Cos of 20% gives the following risked value per share: 570 MMBO x $5 x .76 US/GBP divided by 622 million shares x 20% COS gives 70p a share. Big risk but big reward and that's only 2 of the 6 wells. As suggested previously, potential farm in partners could be looking at any number of variations, all with different valuations. A one drill or two drill farm in, a basin only farm in or, as in the case of BG, a Block farm in.
I am annoyed with the company but if they manage to get farm in it validates and makes it likely they will get to production. They will likely drill over 12 wells.
Not sure how you value the company at that level.
With respect I believe you are thinking (possibly deliberately) more as a trader than an investor, in the true sense of the word. The latest information I have is that around 70% of the Company's shares are held by Petrovis, Directors and Institutions. This is of course following a similar sized placing earlier in the year. A few will of course sell but based upon previous experience the majority of them are in it for the ride. And they appear to like the ride, which has strengthened with the addition of Fox and Red Deer, as proven by the most recent placing which was "successful and significantly oversubscribed".
Who said petrovalis didnt take part in placing?
They supported the placing they should be more p off than us but they are not.
Matd confused us pi's but if they can get farm in of say giving 45% of acreage in exchange for them committing $30m drilling i will take that.. Around 12 wells will be drilled.
Im still in the p off mood. :-)
Spot on Ojay exactly my point. Vic14 shame you can’t understand simple mechanics. It is the self interest of traders that can undermine confidence in a company, sacrificing long term strategic goals for short term gains. Traders don’t give a toss about the success of the company only whether they can gain by any means available. Having met MB I’m sure he doesn’t give a monkeys for the whining of folks like you and Schm123 ....... good on him I say.....
I don’t see how traders make 50-100% when there is an $18m placing to clear and the volume is tiny, this will continue its gradual decline imo just like CHAR did upto and during spud unless they hit oil, and they only have a 20% chance of hitting so 1 in 5 chance, if you fancy that gamble the best day to buy will be 4th July when the placing flippers have to actually pay for their shares, so Many ppl take a placing and gamble on forward selling them before allocation, it has come back to bite them here due to the lack of interest and low volume with no pre spud rise
Am I right in thinking first week of drilling will see us through, Post Rift,and the start of evidence of Shallow Turbites, if that evidence is proven,I quote' 'then a large (200+Mmbo)combination trap play opens''.
Think another reason the volume is so low is that most traders will just wait for the bigger and better wildhorse drill. If SL is a duster then traders should be able to buy in around 5-6p for wild horse, much better gamble imo from that level given this is frontier drilling with only a 20% COS. The BOD needed the extra cash incase all the drills are dusters fair enough, but I just feel the fact the major shareholder petrovis didn’t take part in the placing shows a lack of confidence
20% COS on the first smaller drill, $18m worth of shares to be admitted on 4th July causing each and every holder around 25% dilution. The lack of volume is hitting the flippers hard some big sells going through last week with perhaps a final sell off next week for all those placing flippers that don't have the cash to pay for their shares on 4th July. Can see this hitting 8.5p early next week but the issue here is the huge placing has killed the volume