If you would like to ask our webinar guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
So APEC, who have been promising the cheque is in the post for weeks now, are using some unknown mechanism to prevent their bank from completing the transaction in case their parent company struck oil on a completely separately contracted drill and might fancy a nibble at EXOLA. I've heard of wishful thinking but that takes the Chocolate Kimberly.
I am wondering if it has something to do with IOLAR.
If you consider that APEC is just CNOOC in another form then CNOOC are drilling both Barryroe and IOLAR so if they found oil in IOLAR what are the chances they would make a bid for Barryroe? After all, developing both in conjunction would make a lot of sense.
Why do I think they might have found something in IOLAR? Because we have heard nothing and the ICEMAX has been gone now about five days and it must have finished its drilling depth many days before that. It will arrive back at its base in Las Palmas tomorrow as follows:
"Current destination of STENA ICEMAX is LAS PALMAS and the estimated time of arrival (ETA) is Aug 22, 15:00."
So why have we heard nothing about IOLAR? If it were a dud I would have expected to hear about it immediately. There would be no point in delaying the inevitable. However, if they found "something" they could delay an announcement on the basis that they were doing "analysis" which they could claim takes time.
And given that the same company is paying and developing Barryroe through COSL which is a 100% owned CNOOC company would they develop both simultaneously or would they develop them in series?
The silence of IOLAR, to me, is as mysterious as the famous $10m and when you consider that amount, in the oil world, is peanuts when compared to say the value of the oil in Barryroe and potentially in IOLAR it vanishes into total insignificance.
Will this likely to hit 15p or above on funds clearing?
Mamms, indeed maybe someone is doing due diligence for something bigger? Buy out the ring fenced Barryroe?
Apec have made a real mess of PVR - maybe that was the objective from the start? Some affiliated entity swoops in with a bail out taking the lion's share of the company or maybe buys the assets out of receivership. They've been on weekly extensions since May. No one can explain the delay or more importantly no one can anticipate it's duration. This makes no sense. For those who say, the money is definitely on its way, even if that's true but it takes another 6 months then it may as well never arrive. They are more that 9 months late - something else is going on.