Roundtable Discussion; The Future of Mineral Sands. Watch the video 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.
Wow, with that news I'm going to but some more tomorrow!
Could be because what FRR say they have & actually have are 2 different things.
Madpunter,
Why does it say only 9 tcf recoverable on the FRR website ?
hello hello! I see we have come full circle and now we are all going to be rich again! We can dream.... why not... it's got to be my turn to have some luck. All the diehard FFRsters on here bloody deserve it. I would settle for £19b i guess
832k every year over forty years less tax. Since I'm 72 can I have mine in advance please.
I've copied my reply to AussieB from the 6th May below :-
AussieB - The deal I'm referring to is between the GG and FRR for the transfer of 95% Block 12. However, it's possible that the super majors have come to the same valuation. The valuation is based upon the price of oil this year at around $60/b, with a typical buyout price is 1 - 3% of the in ground valuation. Block 12 contains 18kMMbbls oil and 202TCF (at the same recoverable rates as the figures in the CPR = 2.9kMMbbls and 140TCF) . If this is converted to oil equivalent (1TCF = 170MMbbls oil) = 2.9 + 23.8 = 26.7kMMbbls. At $60/b = $16bn, therefore FRR's half share of production = $8bn at the 1% valuation. The 5% left in FRCC would then be equivalent to $400m, which is the value of the sunk costs. The 5% left in FRCC could also satisfy the judge that it was provision for the debt owed to SH/O, who could have then negotiated with the GG to recover the $20m in exchange (Grimbold and regdik both suggested that the 5% could have been provision for the SH/O debt). All conjecture, but the figures seem to equate.
Therefore, if there's a buyout of Block 12 $19bn would be within the 1-3% typical price of the in ground valuation. As the GG gets 51% of production, then the $19bn equates to a valuation of around $40bn ( 5% will remain in FRCC, as it is at present under the control of the liquidators). Once SH/O is paid (either from money from FRR or damages paid when FRR win in court ), then the 5% royalty after splitting with the GG will become a very good future dividend.
Just for illustration, if the hydrocarbons were extracted over 40 years, then when at full production 26.7MMbls/40 = 667.5Mbls/y. Therefore, the 5% royalty = (667.5 x 5/100 = 33.375)Mbls/y x $60/bbl = $2002.5bn. After deducting the GG's 51%, FRR would receive $981.225m, which is £788.337m at todays exchange rate of 1GBP = 1.24468USD. This equates to a dividend of 5p with 15.76bn shares.
id be happy with 2.5p even happier with 5p and over ecstatic if 10p. :) i have 2.5million shares.
Yeah, thought it looked too good to be true!!
Windfall for us INVESTORS. Poverty for shorters.
Justice. My son would be speechless, my daughter
delighted and I would modernize where it is badly needed.
Money has to roll and I have a plan how to spend it. Wisely.
Really not wanting to p**s on the bonfire but just had a look at the fundamentals of another company and the data was exactly the same - line for line. Clearly an issue with LSE..... no big surprises there, then.....
bumming around the world - we don't want to hear what you get up to in private thanks. this is a share discussion board.- I think there are other social media sites for that sort of thing.
Net Asset Value per Share 171.70p
Some in here have their while lives on the line, for most it would be life changing if FRR came in. Were you trying to be funny ? If so you were the only one who found it so.
Interesting.... Just looked at the fundamentals tab above, and saw some figures with current dates... Income Statement Sun 04:36 13 Jul '19 5 Jul '19 27 Jun '19 19 Jun '19
Revenue 118.39 118.39 118.39 118.39 118.39
Operating Profit / Loss 72.92 72.92 72.92 72.92 72.92
Isthis a glitch in LSE? Or is this actually being populated by something?
Earnings per Share (Basic) 15.96p 15.96p 15.96p 15.96p 15.96p
anything goes. AIM is a nasty game and because this share is still
there it will go up somewhere higher and high. Shorters will suffer and cry,
cry, cry ! They did spread a lie.
just out of curiosity and not taking it as gospel - but what price would 19b$ would actually be per share?
I wouldn't take any notice of it until I hear news from reputable sources. Too much has been said for the last few years from different people but none has happened yet
GIPPS51 the sun is obviously getting to you today, suncream might help, cold beer will definitely help, so please chill out and wait for the £19b announcement, it’s coming, never been so happy with an investment. Nearly beer o’clock, might knock of early, nice to call the shots, and not waiting for the clock to say I can go. LOL
johnnybbad: I am confident that delisted shares cannot be held in an ISA so if they're still there they shouldn't be ...
My shares are held by Computershare who refuse to supply certificates. Have closed my selftrade isas and left the nominee account open in hopes, damn that word.
Try again ... Jekyll.... T.W.A.T.
Jekyll..... ****
FRR Next! ;)
Shares in United Oil & Gas PLC were suspended on Tuesday as it announced a "truly transformational" acquisition from oil and gas explorer Rockhopper Exploration PLC.
UOG is to buy Rockhopper's Egyptian subsidiary, which owns a 22% interest in the Abu Sennan concession. It will pay USD16 million, with a USD8 million prepayment financing structure coming from BP PLC.
Abu Sennan includes a large exploration area, UOG said, and the other partners are Kuwait Energy, which operates the site and has a 25% stake, Global Connect Ltd with 25% and Dover Investments with 28%.
Abu Sennan produced around 813 barrels of oil equivalent per day net to Rockhopper in 2018, Rockhopper said, generating revenue of USD6.2 million.
UOG is also to raise cash through a share issue to fund the rest of the deal, without specifying how much it will raise. If there is a shortfall between the amount raised, the already paid cash element, and the USD16 million total, UOG will make it up by issuing shares directly to Rockhopper.
As part of the financing from BP, UOG has also signed an offtake agreement with the oil major.
UOG Chief Executive Brian Larkin said: "This is a truly transformational deal for United. Not only will it deliver our first production, positive cashflow and significant reserves it also offers very promising infill and exploration upside.
"Having reviewed many opportunities in the last 18 months, Rockhopper Egypt was by far and away the most exciting opportunity and the best strategic fit for our business."
"United has already built a world class portfolio of assets, combining high impact exploration in Jamaica and Benin, with low risk, low cost European assets in the UK and Italy. This diverse portfolio is already offering shareholders a range of options for value enhancement. The proposed acquisition announced today would deliver production and cash flow to this already impressive stable."
"In addition, we are very pleased with BP's support for the deal, through the provision of acquisition finance, and we look forward to developing future business together," Larkin added.
19billion? Is that it? #justlols