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yeah i always like the RNS that start.."we are pleased to announce the issue of a zillion more shares at a lot lower price than current SP - lol
unfortunately the SP still ended down for the day - which supports my theory that the convicts are a little less gullible than us in the UK.
the big issue is how will the drill be funded?
99% of RNS state the the board is excited and pleased to blob blob
Remember what chubby bunny identified as the Gatwick Gusher and how great all companies will do? How AMAZING and this will change everything?
Well .... we are still waiting (5years plus for me). They all dropped to the bottom, some managed to get up a little bit again, but most PI's are still far away from any recovery.
FAIL! They are like car sales people. You can't go wrong with their advice, just hand over the cash. Trust me.
Long wait till September, plus l don't like the word ' tight ' when talking about gas.
https://www.asx.com.au/asxpdf/20190415/pdf/444b217gfb4qlg.pdf
Buru Energy’s Executive Chairman, Eric Streitberg, commented on the results of the ERCE review report:
“The Butler Sand prospect is a unique and extremely attractive play. The Butler area appears to have a very different
Laurel Formation depositional history to other areas of the basin, with potential to have much coarser grained sediments
and hence more porous and permeable reservoirs than elsewhere along the Lennard Shelf margin of the Fitzroy Trough.
We are VERY EXCITED to have IDENTIFIED A PLAY that we have been CHASING in the Canning for some years and to now have
a chance to get it TESTED, and will work closely with Doriemus to help them achieve their objective of getting the well drilled
this year.
(capitals courtesy of Exstatex!)
wellbusinessnews.com.au/article/Buru-keeping-a-keen-eye-on-upcoming-Butler-1-well
''if proven could unlock one of the largest onshore gas fields in Australia''
agreed london....if the convicts want to go for jam down under thats up to them...i would be happy to get the opportunity to get my holding to a size where it is worth selling up - and be done with it.
going to be interesting to see if they go for the jam - my suspicion is the aussies will be less dreamy than us brits so i think it will be a much harder sell. i guess leni figured he has more chance on the promise of aussie jam than kimmeridge jam.
good luck all
.
I hope we can recover some of our losses and straight after DL can fall flat on his face.
Just need to get out of all the shares he had his little money grabbing scrammer fingers in.
D.L knows he can't con sorry persuade the U.K investors any more. Now trying the same tricks in his home country. Will watch with interest to see if they fall for it.
If they do it would help us long timers the chance to recover a little.
Suggest buy a lottery ticket you stand more chance IMHO, not that I have.
Good luck to all invested here.
haha...yes we will find out if the convicts will play or not.
Leni has put the jam on the shelf now they have to put int in the basket
DOR---Last 7.8¢ Change 0.013(20.0%)
Mkt cap $4.058M
Train leaving the station-all aboard booooom ! ! !
.
No I cannot ramp this up, so the gas play has started.--it is another chapter, lets see if the Aussi investing community play the ramp/dump game,
https://hotcopper.com.au/threads/ann-independent-resources-review-for-permit-ep-487-and-ep-129.4709986/
Subsequent to the identification and mapping of the prospect, ERC Equipoise Pte Ltd (“ERCE”), a globally recognised
independent specialist resource assessment consulting group, were commissioned by two of the interest holders in the
permits, Doriemus PLC (“Doriemus”) and Buru Energy Limited (“Buru”) to undertake an independent assessment of the
prospective gas and liquids resources of the Butler prospect.
This independent assessment by ERCE has confirmed Buru’s and Doriemus’ view that the Butler prospect has the
potential to host a very significant conventional gas and liquids accumulation with gross unrisked mean Prospective
Resources of 3.14 TCF of recoverable gas, with an associated 42 million barrels of condensate
SS is casting around for new fields to conquer, the AGM is Thursday, lets see.
we had the jam of DOR possibly being listed on the main exchange and it never happened. I suspect if they could have done it they would have
I strongly doubt they would ever let leni on.
it may be announced this week? - really ? how do you come up with that?
DOR have 3mill UKOG shares, and 5% of Arreton the IOW drill planned.
If UKOG bought out the 50% partner of the Aussi gas play, DL and SS would be conjoined, hopefully forming a Footsie company, breaking free of the poisoned nursery that is AIM.
With income from the `permanent` testing of HHDL, enhanced by the new drills at Horse Hill, there is a fighting chance of a stable company with steady growth rather than lurches.
It may be announced later this week.
And the greatest of these is leaving AIM.
"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)"
The above is a bit rich. I agree with all the other points. But the Greenland move was indeed pointless and a serious waste of money. Doriemus wouldn't have any thing close to the sort of capital needed to explore that "opportunity" not to mention it was just flat out wrong. They also messed up by not doing due-diligence and got us kicked off AIM. Credit where credit it due - they[BOD] made some serious mistakes not worthy of the salaries they are pulling as directors.
Of course onshore investments were great opportunities. But lets not turn these guys into saints.here.
As for thanking DL for not diluting - he is probably well invested himself. Believe you me, were he not - another dilution would be around the corner.
All in all - this is looking good. :)
All the best.
yes just noticed!
couldn't have been right with them the wrong side of the basin!!!
UKOG going up i see and Angs higher than before
I especially like
"While we are still trading under $1, we are always sitting ducks for a derisory lo-ball offer like this, but we have SEBB (the Self Erecting Big Bastard) ready to drill the crap out of the Canning Oil Basin from Easter to Xmas this year, in addition to the Butler Conventional Gas field, which we are about to seize control of from the empty shell and the skint wannabees currently sharing it with us"
ex - you did see it was an Aprils fool joke about BURU?
yes i had an even quicker look than you and saw their lender had renegotiated without any trouble and Rey market cap is $34m as per my link. You don't have such a market cap and RISING if market sees major problems???
Buru getting takeover bid at x3 their market cap is big news IMO
Dor will drill and see what's there and i've got a very good feeling about this. The feeling i get when all lining up and about to blow. Never been wrong so far
ex - REY do not seem to be in my opinion in a healthy state. they have $14k cash and only $38k total current assets in total. their non current assets are made up mostly of the valuation of their projects. however they were forced to write off $7.4m as an impairment in the last accounts - basically assets had been over valued.
even if the assets are great - they have no income
I think the fact that they were looking for $12m investment for the gas play and have now done this deal with DOR shows what a desperate state they are in.
fingers crossed that if DOR go ahead and sell their shares to raise finance it all goes ahead and the tests prove a discovery. However my gut feeling is that it is not going to end well
just noticed this!
hotcopper.com.au/threads/ann-snp-proposal-to-acquire-buru-energy-limited.4693129/
hotcopper.com.au/threads/ann-definitive-documentation-signed-with-doriemus-for-ep487.4689499/
REY market cap recovering to $34m
Dor imho shoud be $10m-$15m and that's just as a base before the action
School costs money. In the last few years I have paid mine by investing in a D.L company. DOR I knew the risks and took a small punt I have never put more in as I believed my initial investment level was the correct level to be exposed at.
I, along with many others, have watched the dreadful decisions of D.L and I now see (in my opinion) his strategy to make money for him self and his like fellows. Their is no plan to grow a company for the shareholders. I too would need over 1000% to break even.
The biggest lesson in the school of D.L is if you see that name in or mentioned by a company leave alone or if invested already just get out.
Good luck to all fellow long term investors, we are certainly going to need it
the trouble with AIM is that unless you do dummy trades at the exact time of trade you can't work out if it a buy or sell. it is graded by its relation to the mid point position..Another way the markets stacks the chips like a casino
i do not know if ASX is the same.
with DOR the value is so small that any movement either way seems to be 10%
you are right that i need a 1000% increase to break even - however there will be lots of selling points - of all the various placings
AIM is infested and manipulated by MM's?
ASX doesn't seem to be better
Buyers (Bids) 8627
Sellers (Offers) 40000
and we are 21% up!
Sadly 21% is nothing worth noting as we need rises of 1000+% to get anywhere near where most once invested.
the only issue i have with sites like samso - is that they are paid by the companies involved for PR.
interesting comment at the end by a poster called miner
in samso's first article on dor he says
DOR has a lot of upsides as the Executive Chairman is David Lenigas. David has had a lot of successful corporate activities and the most recent is that of Artemis Resources Limited (ASX: ARV). David is also the Executive Chairman of Artemis Resources Limited (ASX: ARV), Southern Hemisphere Mining Limited (ASX: SUH) and Clancy Exploration Limited (ASX: CLY). That is all that I know.
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not sure how he determines a lot of success - looking at ARV share price dropping 70% in the last year and how leni resigned in feb!
When Reyes originally were trying to sell 50% of the project in 2018 they were looking for around $12m investment to get it to production.
how are DOR going to get that amount? and they certainly dont need to waste money on Kora