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Informative article on Samso:
https://samso.com.au/asx/doriemus-plc-asx-dor-another-woodside/
'Conclusion
So what does all this mean? Assuming that the management of Doriemus does raise the fund required to do the necessary drilling, I would be pretty confident that you will get a result. When you think about what is available with technology these days, the prospects that were substandard are now producible. Throw in the use of Fishbones Technology and things will get more than impressive.'
The rose-tinted glasses seem to be working well today :-)
https://www.ogj.com/articles/print/volume-108/issue-17/exploration-__development/canning-basin-west.html
to be honest I don't see how DOR will succeed with west kora 1 where the others (esso / anzoil / buru?)l couldn't. It is not like we have a great track record. Seems a big risk to throw what little we have at such a well. esso only got 350b/d before water cut in problems
i would say the butler gas is a better prospect - certainly for jam tomorrow.. however the figures given are very vague as no "chance of discovery" factor has been applied. so it looks like we are funding the tests to see if we can discover anything. I still see the project needing much more capital than DOR is worth. In addition how long will REY be in business with their lack of cash?
Quite honestly i think they would be better leaving the ukog/angs shares and seeing what happens - unless leni knows something
Weren't we listed as a producer on ASX ? - I wonder if we run the risk of being chucked off if we don't actually become one? hence the move for this operator status?
Some links regards EP 487 and the Canning Basin:
https://pgr.dmp.wa.gov.au/PGR/Titles/DisplayTitle.aspx?d=XDNv1x6VxXTfdiBn8orQIon3ijTjNDtLJlam8RVXGYU%3D
http://www.dmp.wa.gov.au/Documents/Petroleum/Petroleum-SummaryProspectivityCanningBasin2017.pdf
Might just as well put on the rose-tinted glasses and see if DL and DOR can find Oil and Gas
He is a busy man with all his directorship's. Perhaps this is why he sucks .....
unless someone wants to contact them and let them know? i think people did when we were chucked off aim to ensure it continued. possibly they would listen to premium member more?
How about Hot Copper ? some are already there..
https://hotcopper.com.au/asx/dor/?keywords=DOR
On the new beta website DOR is no longer listed. Any ideas where we can all meet for our social chit chat and keeping up together with all the news flows?
Looking forward to making enough for a holiday break!
For most here it doesn't even get an ice cream for the children in the local park. In fact, if you combine the overall loss of people still in here, many children wont have ice cream nor Christmas for some years to come.
Good luck with your ambitions.
thanks mate. And good luck to you too - and everybody else on here.
Hopefully Leni will prove me wrong and we all get our money back!
Fair enough. good luck.
I think that was all before DL arrived and he didn't want to dilute that much
Looking forward to making enough for a holiday break!
Ex – were you invested (not sure that is term that really applies to DOR in reality?..lol) at the time of Greenland?
It was a pivotal point for me because I invested in DOR the day of the BBC announcement (in those days I believed everything on the beeb too!..lol) as it was supposedly undervalued compared to the other HH players. We were still on AIM and my dreams of jam were undiluted.
The whole thing sounded fishy and so I did a lot of research and it was that and subsequent events that changed my view on DOR and everything since unfortunately has just made it look worse and worse. I will give you an overview – I could research again and give you all the exact figures but I feel it will be wasted as you will just not accept it whatever I say. So I won’t waste my time.
Basically Greenland gas and oil were a private company of about 10 people who acquired a licence in Greenland. At that time my research showed licences cost in the region of £85000 and the government seemed keen to give them away. Bearing in mind no oil has ever been found in commercial quantities in Greenland as far as I am aware. That was the only assets they had.
Now DOR was going to be kicked of Aim because as being listed an investment company it either had to make significant investments or undertake a reverse takeover.
DOR then purchase just under 3% of the company for £250k. How was that valuation decided? We basically paid their costs for the licence and their only asset for a tiny percentage of the company
However paying that amount for that percentage then valued Greenland gas at something like £8.3m which strangely enough was more than DOR and could then allow a reverse takeover!
Now a number of us on here strongly objected to this and it never came to pass – a due diligence test or something failed – was the reason given. Soon after we were kicked off AIM and on to the lobster pot ISDX. Which we were told was more honest than AIM and the SP couldn’t be manipulated by the market makers etc etc – sound familiar?
Now nothing has ever happened at Greenland gas . In fact DOR referred to it in the recent document as a “passive” investment – whatever that is? I would be very happy for DOR to sell that percentage back before anything else to recoup £250k – but somehow I don’t think that is going to happen.
As for me thinking that the buying of shares was a means to monetizing for this new venture. We will soon see. Dor needs to raise funds by the end of June. I suspect our ukog / angs shares will have to be sold before then. Coincidence? If I was cynical I might think sanderson knew the dump will occur and that is why he placed at 1.05p even though he said he was fully funded. If/When Dor start dumping who knows where the SP will go?
As for thanking Leni – what for? The SP dropped on ISDX- we then changed to an even worse exchange and guess what ? it has dropped again
But dont worry should this new venture be a success i will be the firs
you've got it all upside down as usual cap
they sell assets to another company for shares in that company because -they see upside for Dor because purchasing company has good prospects, the purchasing company itself wants to retain cash, it provides capital to develop the new play without diluting existing shareholders (thank you DL would be nice!).
EP 487 is a gas play and an independent report will be updated and it will be drilled by Dor as operator (and maybe Kora also?)
The Weald is the Kimmeridge play and it is delivering oil . I remember people like you saying it wouldn't flow- how miserable can you lot be?
Dor has been dependent on partners drilling the Weald and they have been slow and made mistakes. Aus is a totally different operating environment and things will happen a lot quicker . Aus wants its own gas supply rather than imports. I think IMO you should watch and learn
Greenland is not a scam as you say which is libelous IMO. It is perhaps $100/bbl oil but it must have been an interesting play because Arcos spent $100m exploring it decades ago. To me that proves it is not a scam and you are wrong again (as usual)
Greenland was a total scam. IMHO. We are only lucky that they never got their wish of a reverse takeover. The shares will never amount to anything in my opinion.
My suspicion is that the selling off of our assets for shares that could be monetized was all long for paying wages and this jam. Neither Ukog or angs have money to pay for our percentage. So it was the only way to raise cash. This is a lifestyle company for the directors generating £100k plus a year.
Whether kimmeridge ever delivers the billions of jars of jams still questionable. But this new venture will prolong the dream for some and continue to pay the wages.
I am not uptodate on kdmc - but my impression is they are pretty fooked too
London74 I don't think this DL's plan all along but DOR have sold 6% of HHDL and 20% Lindsey so what have they actually got left ?
4% HHDL
10% Brockham
5% IOW
2.82% equity shareholding in Greenland Gas & Oil Plc
Q: Are these assets likely to lift DOR sp ?
A: Personally I don't think so
Ref the MMS deal there was a significant rise but I suspect the $6 M dollar placing prior to the news was sold into the rise and quashed the rise somewhat..but that's just my thinking and it's early days for MMS..
I think I saw you over at Cadence board..It's just an example of what could be achieved..
dsfat .... not sure I feel comfortable selling all UK assets at this stage.
DOR as a company and especially under its current leadership doesn't give me confidence to succeed with all eggs in one basket. If this was DL's plan all along, he should be put in front of a court to justify fleecing UK investors for years and be banned of even talking to any UK based company.
I did follow Macarthurs take off deal, funny it barely did anything to their share price which renders the news worthless.
I'd be happy to see DOR sell off all it's UK investments and Greenland (if is still holds it) and pick up some licences, projects etc in Aus.
Aus doesn't seem to suffer with Nimby's, eco warriers etc. New deals and discoveries announced there every day and DL is an Aussie (although the way he goes on about brexit and politicians you'd think he was a Brit)
You only have to take a look at Macarthur Minerals 10 year $4 Billion off take deal with Glencore last week to see what can be achieved...
all imo of course but I say sell the lot and give it a go down under ( I'm beginning to believe this has been DL's plan for some time now)
You can add this to his long list of unfounded statements Captain.
If I meet him tomorrow and he introduces himself as David Lenigas, I properly start laughing and responds "yeah right"
well he said we went on ASX for all these institutional investors gagging to get involved but who would not touch AIM - Presumably because of all the snake oil salesmen..lol
my own view is that was not the truth - we were going to be chucked off anyway - for the same reason we got chucked of AIM
so now he can show us the truth of that statement
His problem to ramp anything ever again might be a more global.
His track records and reputation have caught up with him.
He might get lucky though in the deep Amazon forest, they are a little more naïve there and don't have internet.
Consider yourself lucky Barksy .... :O)
I truly wish I could say that
dsfat - I agree. written this off but as always the optimist in me always gets a little excited at the thought of "just maybe".
the trouble is that leni tries to pump via twitter - but firstly the rns gives nothing definite and i get the feeling the aussies are less gullible and not so easily sold jam tomorrow. so there was no rise in SP on this . this is why i think it will be very hard to place on asx.
that limits us to selling the ukog shares to fund the field plan to achieve the 50%. so we are selling our assets to drill - with no guarantee of success.
The problem is that ukog have just had a placing so SP is down and will be for a while. once we start dumping the SP will take another plunge.
the alternative i suppose is to do the 5% Shuffle again and sell remaining %
i guess we all got involved in dor for the kimmeridge jam - i wonder how the majority of people feel of the thought of getting out of it before the end game? to invest in another exploration drill?
I'm not invested here but I've come across this
https://wago.co.uk/work/energy/
Well, lets have a guess were that funding could come from.
He must heavily count on some uninformed natives or countries that never heard of him or the companies he was involved in, as no one who has been following his spineless ramps would even look at this, nor spare a penny.
David Lenigas
?
@DavidLenigas
10h10 hours ago
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Very significant news just made public on a massive gas play in Australia. Brilliant. @DoriemusOil $DOR. Damn exciting. Took a long time to get this deal sorted. Rock-on!
https://youtu.be/hdlVfuaKwRI
DL 'Rock-on' lol
Definitive documentation signed with Doriemus for EP487
https://hotcopper.com.au/asx/dor/
'Subject to Doriemus raising sufficient funds by end of June 2019 and completing the well within 12
months, Doriemus will be assigned 50% of the EP487 permit as well as the operatorship.'
DL will ramp this one big time.. Jumpin Jack Flash (aka DL) hits the Gas Gas Gas lol
Don't expect to see my investment back here but going to attempt to enjoy the slim possibility