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Borgny Dolphin was a good old rig in its day :-)
Lasmo (consortium leader) drilled 1 well but it was dry
Amerada Hess drilled 2 wells and had hydrocarbon shows in both
Shell drilled 2 wells and had hydrocarbon shows in both
IPC (which later became Lundin Oil) drilled 1 well but alas it was also dry
yup em were the days alright
toodlepip x
the FI leg end (aka garbled) has been on the old slippery street sauce again
"we will see in the next 12-24 months which SP will do better"
didn't he say that during the 2010 campaign and again during the 2015 campaign
3 wells and 3 rigs wasn't it
£20p
nothing left
Who brought the last rig to the Falkland? - Premier Oil
Who built the temp Dock for the oil? - Noble Energy
oh and as for all this (unfortunately I hold shares in RKH) malarkey
since when did having a few quid per point on the old never never via a spread bet (borrowed shares) ever be construed as a being a err umm genuine share 'holder'
Argos its been 26 years since their inception and they still haven't managed to drill a single well
maybe they should stick to what they know best - fishing :-)
50p on Rhea LOL
tralalalala
"Argos has the advantage of undiluted shareholders and an extremely lucrative income stream by way of royalty payments on production"
tuggy with all due respect, I think you will find your 'lucrative income stream by way of royalty payments' went out the door the day Noble walked.
but one thing for certain is that no Argos acreage farm in partner (if one ever materialises) is going to go it alone by hauling a rig all the way to the NFB (and back) to drill a well or two (or however many it might take) given the ALL IN operating costs and requirements of fully servicing and supporting any remote drilling campaign.
trust me, hiring a rig is the easy bit :-)
'the clever ones keep adding and keep quiet'
yes well based on your own logic your inability to ever keep quiet rules you out as being one of the clever ones :-)
https://www.youtube.com/watch?v=wOSseI1hao8
its a no brainer innit
lots of irons in the fire and it is envisioned (Linda Cooks words) they will be taking things slowly this year whilst they continue to align and embed the business units and gear up for their intended FTSE main market listing in September.
the 2 projects mentioned with most interest here were
Zama - review is at an advanced stage and targeting FID approval sometime during 2021
Sea Lion - early days in the review process but it is ongoing as part of their prioritising CAPEX expenditure for next couple of years but any FID decision is unlikely to occur this year.
a general comment (again from Linda Cook) on capital allocation - its only day one of the enlarged company so there are still many variables that are unknown (SP, POO, Covid, etc) that will effect any capital decisions in both the short term and long but they are looking at months rather than weeks before any final decisions are made on capital distribution and any priorities.
I'm sure the FI picture will be a whole lot clearer later on in the year once things are settled down and bedded in.
in the meantime Sam & Stu better hope the Italians pay up big and soon or else they might be putting the hat round for a contribution towards their excessive annual packages.
TTFN
here's a recap just for you ... see I did say :-)
barnyards
Posted in: PMO
Price: 26.69
22 Mar 2021 07:52
RE: One for one shares
whether it x billion this or y billion that, surely given all the uncertainties surrounding what the market will value PMO's existing shareholders 5-5.45% holding of the new enlarged (HE) company the appropriate thing to do (for most) would be to sit it out and wait for it to re-emerge on the 1st April and then decide IF the SP on the day has added value or not.
IMO this is like holding a share going into a make or break exploration well for a junior oiler on the red or black drilling results and the only ones who normally do that are the gamblers and rainbow chasers.
investing in the unknown ?
well that's not really a strategy for an 'investment' is it :-)
barnyards
Posted in: PMO
Price: 25.00
23 Mar 2021 09:07
RE: Manipulation
roll on the 1st April and lets see what Mr Market has to say
20p would be good :-)
BTW it's 21.5p to sell now but I think I'll hang on for just a wee bit longer
TTFN
LOL that's quite a statement coming from a brickie
thing is I remember you trading PMO not so very long ago for penny swings in the 19's and low 20's and then selling out completely in the 21's to go chase some other 'rookie' banking rainbow just before their steady rise back up to 33p
RRE did me proud, almost a 3 bag in just a few months (if you include the 4 fig dividends) whereas I recall you were holding and topping up in the £20's screaming £40 soon before it all came crashing down in March and April last year
rookie by name rookie by nature
nothing changes :-)
why would anyone buy and hold into the 'unknown' and that 20p 'could be' fair opening value :-)
anyway bagged a bunch @ 18.75p
I do hope SK wasn't planning on any high wire walking today
onwards and upwards
'we are missing the guru's comments'
oh please not GGG the re-moaner :-)
but since you ask, try this
https://www.youtube.com/watch?v=hEBpuWxR1P8
and remember the house rule that nobody understands anything in an RNS but the great man himself
play nice
yes but when YOU ARE the CEO who's going to be asking you that question :-)
most AIM CEO's don't give a flying fig about retail shareholders because the simple fact is, they (the PI's) are nearly always powerless (even collectively) to do anything about it.
I think Sam & Stu's thoughts on PI's were made quite clear last year when they refused to publish the results of the boardroom votes.
who knows, this time next year rodders, you might be like the FI legend and his beloved Argos
still dormant and in waiting
I expect this is going to be somewhat underwhelming reading for some of the forums jam tomorrow remoaners :-)
i3 Energy plc (AIM:I3E) (TSX:ITE), the independent oil and gas company with assets and operations in the UK and Canada, is pleased to provide the following update.
Maiden Dividend
i3 has allocated CAD$2 million (£1.16 million) in relation to its planned Q1 2021 dividend. The Company can only pay a dividend out of distributable profits and i3 currently has retained losses. i3 is expecting to effect a reduction of share capital to create distributable reserves to offset the losses and create surplus profits. A reduction of the Company's share capital is subject to loan note holder, judicial, and shareholder approval by way of a special resolution at a general meeting. i3 expects to shortly distribute a special resolution and circular to its shareholders which will specify the exact amount of the proposed reduction in share capital and explain the background and reasons for the reduction. Upon approval of the special resolution at the general meeting, i3 will apply to the UK courts to confirm the reduction and will immediately thereafter distribute the abovementioned dividend payment to its shareholders.
Noel Gas Well
As announced on 23 February, in December 2020 i3 completed a successful flow-test on a horizontal gas well into the prolific Falher formation at its acreage in Northeast British Columbia ("BC"). The tie-in project in Noel, BC progresses on time and on budget. Regulatory approvals and First Nation consultations are ongoing, and construction is anticipated to commence once surface access conditions allow, following spring breakup (an operational lull during which snowmelt and frost-release create soft and muddy ground conditions). The well is expected to be brought on at approximately 500 boe/d.
Majid Shafiq, CEO of i3 Energy plc, commented:
"Although our balance sheet re-structuring has taken longer than anticipated, we are delighted that we are close to entering the final stages of the process to allow the declaration and payment of our maiden dividend and commence delivery on our promise to distribute at least 20% of our free cash flow annually to our shareholders as dividends, subject to necessary consents. Our Canadian production assets continue to perform well, and we are actively advancing projects to maintain and grow production from our current portfolio and are evaluating a number of production acquisition opportunities. In the UK, negotiations with counterparties for a farm-out of Serenity appraisal drilling continue to be advanced."
remember the house rules
no hats were eaten during the recreation of this newsflash
TTFN
forum police work fast here :-)
BHA 'Lost In Hole' clauses are in every service providers contract where the 'LIH' charges (at replacement cost or a % of replacement cost) are at the operators (BPC) expense.
depending on the actual assembly and what was lost (left downhole) this could be anything in the region of 1-2 million dollars (on average) or in some more complex assembly cases a lot more.
99% of the time it is nobody's fault but good old mother earth ergo 99% of the time the operator picks up the bill and there is no maybe this or maybe that about it.
here's a quick confirmation bias summary for ya Tony
the bottom is in, the 50% bounce is back on, its a technical no brainer at this bargain basement price and if its not at least 30 or 40p or triple digits soon I'll err umm 'eat another hat' :-)
T Minus 6 and counting - tick tock
Ciao remember to play nice and don't you go forgetting the house rules
Tony, it sounds like you are in need of a quick 'house rules' refresh :-)
" Sadly I have to take the money out on April 1st"
what's that all about ?
Christ you've only been here 5 minutes and all you've done is moan about market manipulation
if you can't weather a bit of headwind then perhaps you shouldn't be gambling in the first place.
anyway roll on the 1st April and lets see what Mr Market has to say
20p would be good :-)