Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
You don't get much for a pair...
A pair of twos doesn't look like much, but with an ace up your sleeve and deuces floating you're suddenly in the game big time.
Deal the right cards in the next few weeks and we'll all be big winners.
With the elections out of the way we can hope for political stability that will encourage all involved to get the Timor Sea projects moving.
https://www.theguardian.com/world/2022/apr/19/timor-lestes-presidential-election-ramos-horta-and-lu-olo-guterres
Did anyone see the official results of the licence round which were supposed to be announced on 15 April?
None of the companies we're invested in are in business primarily for our sakes. If they do well, we stand to make money as a spin-off from their success. But the time frame for them doing well is not under our control. When you invest your money you have to be willing to accept that you could lose everything, that a good return may never come, or that you may have to wait years or even decades before your big pay day comes.
Peru was always the least significant of the three assets. I take the RNS today as being very positive. If drilling does get under way in Chuditch and/or Dunrobin next year the multi-bagger scenario we have all been hoping for WILL happen. Two decades is perhaps a long time to wait, but the wait will have been worth the while.
"On the Chuditch TL-SO-19-16 PSC, offshore Timor-Leste, we have a 75% interest in a gas discovery and associated prospects and lead that have an aggregate gross Pmean prospective resource of over 590 MMboe independently validated to the SPE PRMS 2018 standard.
In the UK we have accelerated progress and increased our interest to 32% by executing a farm-up agreement in the P2478 licence containing the "Dunrobin" prospect with an internal, non SPE PRMS 2018 standard, estimated gross Pmean prospective resource of the order of 100 MMbbl.
In both cases, we are making good progress on the respective seismic re-processing projects and other technical studies with results to be announced later this year. In 2023 there will be the potential to be drilling at Chuditch and a drill or drop decision on Dunrobin. By contrast, Peru Block XXI has a materially smaller prospective resource with no certainty around pathways or timelines to drilling, hence the Company's decision to relinquish the Licence and ultimately withdraw from the country.""
https://www.dailymail.co.uk/news/article-10658053/China-creeping-closer-Australia-stealth-PNG-Solomon-Islands-Timor-Leste.html?ns_mchannel=rss&ns_campaign=1490&ito=1490
Come on, Australia - pull your finger out! Get that LNG Partnership Fund working!
A golfing holiday in Portugal?
At our expense...
Innovate Licence P2478, Dunrobin
“The licence’s current modest work commitment is to undertake reprocessing of legacy 2D and 3D seismic data and perform other studies in order to reduce risk and refine volumetric estimates ahead of making a “drill or drop” decision before the end of Phase A of the licence period in July 2023.”
Before the end of Phase A - in other words, anytime between now and July 2023...and sooner rather than later if the pieces fall into place.
“In April 2020, the joint venture partners signed a Work Sharing and Confidentiality Agreement with a large European E&P Company (“Interested Party”) for licence P2478. Under the terms of the agreement the Interested Party completed its own regional technical work and shared its data and interpretations over the area with Corallian and its partners in February 2021. The technical studies delivered by the Interested Party confirmed and enhanced our geological understanding and corroborated our view of Dunrobin as a potentially attractive and substantial target. The results are being incorporated into the ongoing work programme which includes preparations for the seismic reprocessing in order to reduce further the pre-drill risk on the prospect.”
Does anyone know who the "large E&P Company" is? With the current political climate and renewed commitment to the north sea, could it be that this is going to kick off earlier than expected?
The group of companies' accounts are due out within the next few weeks. BOIL will have to issue a statement then - but perhaps some good news will come before then...
Onwards and upwards... :)
According to an old story, my grandma had a stroke when a streaker ran by...her friend would have done too, but she couldn't reach... ;) :)
We just need the same to happen to us :)
https://www.thetimes.co.uk/article/north-sea-operator-ithaca-energy-in-1bn-buyout-of-siccar-point-97mspqj9v?msclkid=5a34cfd0b6df11ec91ea115c1597dc39
We don't need a drill in the ground for the SP to really take off. Baron Oil is not a drilling and production company. We've been waiting for years for a sea change in government thinking in Timor Leste and for drilling permits to be issued - all the signs are that this could finally be the year that Chuditch will be monetised. The political climate has changed in the UK in terms of north sea oil and gas as a result of the war in Ukraine, which may well result in the Dunrobin prospect being developed earlier than expected. News of a drilling partner in Peru, so far held back due to COVID restrictions, would be enough to see a significant lift in the SP. Any news of a major getting involved with Chuditch or Dunrobin would turn this into a multi-bagger. If you still have a vested interest at the time when a drill goes into the ground then that will be a bit of icing on the cake. This is not a pump and dump share. It carries more certainty than most of the others I've ever invested in - it has just required a lot more patience! It will be worth the wait - the licensees and we shareholders will, in my opinion, be richly rewarded for hanging in there. The licensees have had a lot more invested than we have, and yet they have stayed the course; that gives me confidence that all will come good in the end.
"The UK Government is set to unveil its long-awaited Energy Security Strategy on Thursday, with new renewables, nuclear and domestic gas “all a crucial part of achieving its aims”, according to Prime Minister Boris Johnson.
It comes as the UK looks to forge a path of greater energy independence amid spiralling energy prices, and a drive to wean the country off Russian oil and gas imports.
All the while, the course must also remain firmly fixed on the country’s 2050 net zero target.
Secretary of State for Business, Energy and Industrial Strategy (BEIS) Kwasi Kwarteng has made it clear that the strategy will see more local energy production, and faster, though full details of the plan are not yet clear.
Whatever its contents, all signs point to a strategy that places a renewed importance on North Sea oil and gas.
The North Sea Transition Authority (NSTA), has already confirmed its intention to hold a new North Sea exploration round this year, while other reports have suggested development plan approvals for six key fields could be fast-tracked to spur momentum this year.
A licence extension granted to the controversial Cambo project also suggests it could see a renewed route to final investment decision (FID) as domestic production is prioritised.
Meanwhile in a recent interview Brexit Opportunities Minister Jacob Rees-Mogg batted away calls for a windfall tax, saying that companies should seek to extract “every last drop” from the North Sea.
Other measures to shore up investment may also be announced. A Treasury representative recently noted that the department is already meeting with lenders to encourage them to back North Sea projects.
However, it is clear that any new field developments will be long-term solutions to short-term problems, as projects will still take years to come line.
Trade body Offshore Energies UK (OEUK) recently warned that if there are no fresh exploration and production facilities, by 2030 around 80% of UK gas supplies and more than 70% of oil will have to be sourced from abroad.
There have also been calls to boost the UK’s gas storage capacity, after the closure of the Rough facility left the nation without much seasonal flexibility beyond the spot market."
https://www.energyvoice.com/oilandgas/north-sea/401201/what-to-expect-from-the-uks-energy-security-strategy/?msclkid=3aa47ea0b5da11ec9bc94027ba95c197
Old news from 26 January - but still good to be reminded of the content :)
Let's not get personal, JoeBloggsUk. I offered my responses today to help, not to criticise.
If you, or anyone else for that matter, can clearly demonstrate that I'm talking nonsense then please do so and I'll take it on the chin and revise my opinion - but please, don't just make a general remark about me talking nonsense without detailing the specifics...so I'll throw that challenge out to you.
This is probably the best BB I've been involved with since the 10 bagger I made on Dragon Oil all those years ago. We get some trolls occasionally, but they soon become - in keeping with the metaphor - water under the bridge.
Was that you who made the 100m buy? ;) :)
I hope to meet you one day with a bunch of other guys on this BB when we've all made a killing from BOIL shares - and I'll happily shake your hand and buy you a drink :)
I hope you did buy in today - buying in at less than 0.0008 may have already become a thing of the past...
HFB, I just hope it's not Uncle Albert's gravy!
Qui audet, vincit, Rodney! :)
JoeBloggsUk, that's like saying the roast potato on your plate doesn't exist until you stick your fork in it and put it in your mouth.
If an asset is a proven reserve it exists - end of. What doesn't exist initially is the monetisation of the asset. But if you're going to wait until a drill strikes oil or gas before you invest then you're going to be too late!
I'm not going to waste my breath on semantics anymore. DYOR and weigh up the risk for yourself. There are no guarantees. All of us could get shafted. We accept that. But the upside potential in BOIL is huge. Caveat emptor. Qui audet, vincit.
You're talking about proving commercial success, not proving the existence of the asset. If we could prove the commercial success before it actually happens we'd all be selling our houses and cars to pile in some more! There is absolutely no doubt about the proven existence of the massive Chuditch and Dunrobin assets.
JoeBloggsUk, it's just the way you are phrasing your questions. You don't put a drill in the ground to discover oil or gas. You put a drill in the ground because you have already established solid facts with regard to proven reserves, through seismic data interpretation in the main. Both Chuditch and Dunrobin have proven reserves - establish through 2D and 3D seismic interpretation a long time ago. The seismic reprocessing that is currently under way is to make use of improved technologies and to provide better imaging - so that they can have the best possible knowledge of where to drop the drill and to thereby maximise the chances of commercial success with the first drop. The proven reserves are massive - of that there is no doubt.
"have they actually proven to have a worthwhile resource anywhere as yet" ?
If you have to ask this question you probably shouldn't be investing...in anything!
There's a reason why "Do you own research" is laboured so much. It's to protect you as an investor, to guard against investing on a whim, and to give you the clarity and confidence that can only come from establishing the facts of something for yourself.
You'd invest in BOIL for the Dunrobin prospect for the same reason that you'd invest in BOIL for Chuditch - fields currently valued at $0 but worth $billions with just a nod in the right direction. The value is there, undisputedly - you just have to decide on whether there's a realistic chance of the assets being monetised. For the North Sea and the Timor Sea, everything has recently escalated to the point of monetisation becoming a reality...and soon!
All investments carry risk. Invest what you can afford to lose. Give yourself the chance of being rewarded for taking the risk.
DYOR
It's just a matter of time for Dunrobin
In the last 2 hours
Green light for North Sea project with first oil this year Offshore Energy10:08
In the last 4 hours
Oil Plus wins maintenance contract with North Sea operator Oilfield Technology10:00
Shearwater awarded large North Sea OBN project by Equinor Splash 24/708:39
Equinor hires Shearwater for ‘large’ OBN survey at North Sea project Offshore Energy08:37
In the last 6 hours
Israeli-owned North Sea firm posts $1bn profit after surge in oil and gas prices The Scottish Herald06:06
Yesterday
UK Regulator Extends License for North Sea Cambo Oil Prospect Hart Energy19:20 Wed, 30 Mar
Cambo licence extended for two more years amid push for North Sea exploration City AM18:04 Wed, 30 Mar
Tuesday
IOG North Sea field on track for 2022 first gas, after spate of delays Offshore Technology11:28 Tue, 29 Mar
https://www.newsnow.co.uk/h/Industry+Sectors/Energy+&+Utilities/Oil+&+Gas?search=North+Sea&msclkid=8b75b8f7b0e111ec8ecc8636a3c38bcf