Member Info for belisce6

https://www.zerohedge.com/news/2018-05-07/arctic-about-face-oil-opposing-alaska-natives-now-lead-charge-drill-baby-drill

Hmm a quarter you say.. i reckon up to a half.. :-) It could even not be forward selling but instead a bunch of nominee holders having been given those new shares at 2p, now dumping their existing holdings to pay for tge cheaper shares, thereby giving the company funds while getting a same holding back at postdilutive levels.. Although i do think the forward selling method is going on.. If there is about another circa 50mill per day then by end of next week itll be done.. just my opinion :-)

Its possible that about 225 mill or half of the new shares have been transferred/forward sold etc over the past week.. If so then probably this finishes by end of next week.. Just in time for update announcement on ice2 operations etc.. :-)

Thanks brom.. will check it out..

I have feeling that maybe some 135 to 140mill of forward selling of the new shares has occurred over the past 3 days.. Possibly if the bookbuild day was also majority forward selling then its quite possible that already about 200 to 250mill shares have been shifted.. of the 460mill odd.. If this is the case at all, then thatd mean up to 200mill left, and if theyre all gonna be shifted, at say 50mill average per day, then possibly the drag on sp gets completed by next thursday or friday.. just in time for rns about reopening of well after that weekend.. :-) All around the oilers, there seems to be that bullish momentum starting.. Just like in previous oiler bull markets.. It is nowhere near the lofty levels of momentum.. but geez.. If brent really does touch 80bucks by july, and if 88e comes in with a trifecta.. then we may really get to enjoy it :-)) Heres hoping :-)

Does anyone have access to the trades list for the bookbuild day? I think it was 1st of may ? It was when the total volume was like 140mill or so.. Wanted to know roughly how much of that total was made up of trades for 500k , 1mill and above, in trade volume..

I guess that before the several mnths, they can announce what theyve applied for seeing that from 1 july the sarawaks should be taking control.. So something like that could happen before the several mths comes by.. Not sure what sort of tenement lease or sale program the sarawaks may have, if anything at all.. I guess it doesnt matter.. 2 of the upl directors are effectively sarawak topknobs, so upl is in..

So what is the issue ? What other news is expected out of sarawak other than an acquistion ?

Several months to sarawak news.. =ss comments on podcast (That article the other day did state that sarawak should be officially set up for 1 july.. so obviously no deals could possibly be signed off before that) Hoping to have nth africa news before that.. =ss comments on podcast So nothing very very soon by the sounds of it, and nothing signed sealed nor delivered, so thats why the sp is doing what its doing.. It will go gangbusters if they get the two or more projects across the line... even one of them :-) SS doesnt seem to hang around for piddly projects.. just goes for big things... re: independent resources italy and tunisia projects, Cove project, Far (?) project, and 88e project...

"Following the chief minister’s announcement, a new licensing and regulatory regime will be imposed by the Sarawak government on July 1. It will detail the applicable rules and regulations applicable to bona fide players in the upstream, midstream and downstream sectors of Sarawak’s oil and gas industry."

Once the placing goes thru, does anyone else expect the sp to be pumped up to double level of today?? I mean the instis must get an opportunity to get out at decent profit right ?? :-)

Just wondering.. is the receng rise in sp due to exxon farming into namibio offshore nearby? Is trp still holding some namibian tenements ??

328matt.. yeah.. gonna remain rocky over there till it goes only one way :-) am not in upl just yet, been following... am not sure whether i will be too late or not... gotta bide my time for a bit, then when have the funds i hope it hasnt already run away too far.. for me at least..

so that is the start date of meeting, but is a conclusion or decision possible on that day as well ?

haha... yes... my bad... missed that... thru some very quick clicking of links etc... am not in yet.. was hoping to have more time to get in... but looks like the sp might run away for the timebeing... nevertheless, if the project of the RTO is a good one, then i guess there will be a few chances during sp dips etc, to get in along the way

y is the price much higher than the bid-ask price levels ? seems rather strange that it is at 12+p yet not takers but for like 20% lower prices...

the only one potential 'negative' is that possibly it means no material news for a couple of months, due to possible insider trading etcetc... but if that was to be the case, it wouldnt matter, cos it is the material news of decent project acquisitions that we want to hear about, regardless of whether it comes thru next month or closer to the end of the year :-)

yep... basically if anyone say got the same amount of shares they already have at much higher prices in a rights issue at 0.3 to 0.5p, then one would be effectively halving his/her buy-in prices... although my example would mean only 25% of final stock could go thru such a process meaning it wouldnt be a one for one, but it could be a one for two issue with allowance to subscribe for unissued rights shares with a max capped amount... sure hope it happens... was hoping theyd give everyone such an opportunity after that first post-morroco disaster capital raising...

am wondering whether they offer existing holders an opportunity to get in at such low levels.. hope so.. to be on the safe side, they might pick up the minimum AUD 3.5mill via placing, and open up a rights issue to get another max of AUD 2.5mill etc... i do hope they give existing holders an opportunity to get in at lower levels, in order to average down by half for those that got in at much higher prices etc...

the majority of the first years exploration is going to be funded by bank debt or similar using the tax credits of 85% return as collateral i believe... how much existing cash will then have to be burned i have no idea, but hope that they give existing punters and opportunity to get in at the sale level as recent capital raising... a one for one or one for two rights issue would be good... would mean everyone gets to average down significantly and basically half their existing buyin price while not being diluted further... the other concern here is at what price of oil is this type of project profitable... i read that eagle ford and similar are ok to a tad under 60buck oil... seeing that there has been comparison of this alaskan ground to eagle etc, hoping the sale holds for this ground... i imagine that less than 60buck oil would only hold for 3 to 6 months? in order to burn off the higher cost producers everywhere... then due to lack of investment and project closures, one would imagine the oil price to be closer to 80bucks perhaps... time will tell...