Member Info for belisce6

No overreactions whatsoever..

Folks need to tell sefton.

Give us tge r1r2 and mengo results before you ask for more money !!!
Simple really..

In the meantime.. if there really are delays due to mud tanks being stuck..
Well. Sefton can roll up his sleaves and get to work !!!

As you can see.. no overreactions by anyone at all..

I sincerely hope the capital raise resolution gets knocked down completely..
Thay sefton gets told to produce the oil results for r1r2 and mengo.. or to walk..

I donot believe in so many coincidental timings..
Without successful news on both oiley areas before the vote, i believe we are all being had..
Nothing more to it..

I donot believe the slowness is to do with drill company trying to make up for rates at all.. we donot know the full details of the contract..

I believe in the more obvious.. the sp is purposefully being suppressed by actions of the company cos they want another 5mill cash..
Not much else to it...
I hope those major shareholders ask sefton to walk away.. at the monday meeting..

Hopefully we will NOT be having any more private conversations with either of those two..
Cos so far it has proven to be garbage :-(
And nothing else..

I donot believe a word of any of it...

I sure hope that the bod arent behaving like right plonkers.. and that these timing delays are not part of more sinister motives connected with sp suppression for upcoming capital raises..

It is quite ridiculous to be reading for 4 or 5 days in a row, private messages from chairman or ceo to punters, telling them they are about to drill thru the horizon.. only for the same carp to be repeated tomorrow..

Absolute rubbish...

R1r2 at 90%cos means something like, 98%×98%×97%×97% on average :-)

Mengo at 60% cos means like, 88%×88%×88%×88% on average :-)

Almost absolute certainties..

But even if the charge was more of a sure thing.. like say 70% probability,
the overall djeno COS would still only be about 38% or so..

The charge at 50% figure is simply referring to it being a 50/50 as to whether the gas cap is present in djeno in aaog turf..

If the gas rim is present then its all systems go :-))
( by the looks of things)

I have seen companies provide indepth info over a wkend via media to then do RNS on the nxt monday (and not necessarily before the open)

Why would or should he be investigated ?
He has done nothing that can move th sp at all.. seeing that an RNS first thing monday morning is expected by most :-)
Can only get done for insider etal if it can actually have an effect..
That wont happen if the info is out on the weekend preceeding an RNS...

I do try not to think about if they do get some major items sorted by yr end.. But geez yes.. on success.. should rocket past recent placing price..

Well end of this week they should possibly have drilled thru r1r2 but then casing thru it.. so when exactly ? Soon we find out :-))

Yes.. new project news soon.. And info on r1r2 workovers soon.. I think these pieces are being held back and timed for very soon as a possible backup if the mengo and djeno turn out to be disasters.. Cos with 103 thatd could be 3 producing r1r2 soon.. meaning they can produce a small profit after covering admin running of the company.. Hopefully new project us something good that congo government has been sitting on.. with local 44% take youd think it might be :-)))

Yes.. current market cap would be even too low for mozambique licence completion :-))

Not necessarily.. if em say ok to a buyout from future production revenues or to a compromise with shorecan of any sort, then its game on.. I think the disagreement is just part of normal business. That copl sp was pumped up in leadup to capital raise.. which was completely forward sold.. hence em disagreement possibly wrongly exagerated to fall in line with this.. It is possible.. Nevertheless.. once em agrees to any possible scenario, then it matters little about mother company bankruptcy etcetc... it does look like a services contract will sort out em issue.. i guess in a simplistic sense, shorecan needed to know before closing services contract, as to whether em would veto etc... who knows for sure, but things look like hottingup soon :-))

Mengo should give a market cap of minimum 35mill quid at least.. So minimum 21.5p on mengo possibly intraday spike to closer to 30p.. Djeno should burst the 50mill marketcap.. so easily way over 30p etcetc.. Only my thoughts :-))

Hmm.
So if acellormittal takes over em.. then it means they have their 20mill for the production ? Or ?
What a mess..

Of course he needs to go..
The cash has been sliced in half because he was incapable of any farmout on the duster..
I cannot believe that he couldnt get a deal for a farmout % plus 33 to 50% premium on that amount at least..
Even if he ended up just farming out half the 65% stake for direct cost levels.. it would be accepted due to "risk management"...

There are even more potential deal types.. farming out with premium as stated above or for a complete freecarry which is paid back from potential future production cashflows...

The other issue is this.. if the overall markets are such that these farmout styles are no longer really possibly any more.. then the matter of salary levels for these wildcat explorers comes into play.. these guys should not be given more than 100k per yr but instead a tonne of inthemoney share options which would be valuable only on success.. the problem is.. that mr bottom and similar ceos will not tell us that the farming out deals are no longer possible as before.. because of their own personal interests..

Its a shame em didnt already go into administration.. copl and shorecan couldda offered the administrators a penny for every pound owed :-))
Either way.. if em goes down then its all for shorecan :-))
The only nuisance will be tgat of what administrative effects it leaves for opl226 etc.. me thinks that potentially nnpc and shorecan are in cahouts . simply waiting for the lame em to finally meet its maker...
Surely if em goes into administration or solvency etc, then shorecan wont have to worry about em vote gor the opl226.. they will then deal with the administrator.. who is there to mop things up.. shorecan will easily be able to cut a deal with an administrator.. my opinion anyways

Your so wellrespected docmin provides no evidence that the rights issue is oversubscribed.. none whatsoever..

There are various reasons for anyone to sell

Unfortunately your wellrespected poster who trades 88e (vs longterm holder) has not addressed what he labelled as silly..

I suggested that if a current holder who has rights via the rights issue, but is unable to take them up, simply sell on market at same or above price the same amount of shares, then pull the trigger on taking up their rights issues.. if getting the same or higher price then it works.. this way a longtermer doesnt leave his or her rights issues for a shortfall and instead pushes any chancers or sharks to buy on market..

None of what docmin has stated, actually addresses why he said my idea was silly..
For the record.. docmin had orders in for lower price than currently on 88e.. he is openly and actively trading 88e..

It is a shame that brombarb is unable to provide balanced views..
Once upon a time brombarb appeared to be solid..

Probably anything below this 3pish level.. cos cpr on morocco should be a positive.. albeit shortterm.. and real info on neighboring brazilian acreage drills going into 2019 should also provide some upward movement to sp..