Member Info for BigBear2

Aim style movements with one exception we behave like a ftse stock on way up(slow) and AIM on way down..like a knife through butter

Whatever is going on here bizarrely POO seems of little relevance right now.
Transfer of shares occurring as part of a larger game Imho.

Bau stuff from the IIs to control the sp

That as well but Tullow is essentially his baby so yup a) he gets loaded on t/o and b) the company is in better hands.

I am not saying he is bidding I am saying he has connections to majors and may be using his holding as part of a larger plan to bring in Someone with deep pockets... like Total

Play opener and could be massive,
If I am considering a bid do I wait for results or pile in early and treat it as a bonus.
You would have to think a bid just over a quid would go through and mr 10 percent may be a tool to get this done with a block vote..

I’ll disagree on that one in my experience recapitalisation means equity which will then allow access to the rest of the loan.
Good company here with cash flow issues I’ll take a position when recapitalisation announced

Tumbes Basin, Peru

Block Z-38

During 2008 Karoon acquired a 20% equity interest in Block Z-38 in the Tumbes Basin offshore Peru. This was subsequently increased to 75% before a successful farm-out of 35% to Tullow Peru Limited in January 2018, leaving Karoon with a 40% interest.

Preparations are underway for drilling the high-impact Marina-1 during 2020, with a gross prospective best estimate resource of 256MMbbls (net 102 MMbbls to Karoon)*. Details can be found on our Peru operations website https://operacioneskaroon.com.pe.

Block Z-38 lies 10 kilometres offshore from the coast of northern Peru, 56 kilometres west of the city of Tumbes and 39 kilometres west of Caleta Cruz. The block is in water depths ranging from 300 metres along its eastern boundary to over 3,000 metres in the west and covers an area of 4,875 square kilometres.

Block Z-38 provides 549 million barrels (MMbbl) of oil prospective resource potential* into Karoon’s exploration portfolio in an under-explored, highly prospective part of the Tumbes Basin. This pull-apart basin is similar in style to the prolific San Joaquin Basin of Southern California and exhibits a variety of play types. Work done by Karoon including 3D seismic, sea floor drop cores and AVO analysis supports the presence of an active petroleum system with oil from the same source rocks as seen in the adjacent Talara Basin where over 1.7 billion barrels of oil have been produced to date.

Karoon’s acreage is strategically located across the basin axis and adjacent to the Talara Basin onshore fields.

Also looks like stacked targets news could be v quick

Targeting 250mb oil. Oil already recovered from seeps...
30 day drill.

It’s a wildcat so I would say pretty standard

https://www.karoonenergy.com.au/wp-content/uploads/2020/01/Peru-Drilling-Update-3-28012020.pdf

If no placing can someone clarify how the company will be recapitalised?

Onward and upward

Company still same size sentiment shot.
I recall looking @ gkp when it was on its knees and decided not to pile in. Things can change very quickly...

I cannot understand why folk think no placing coming.
The conditions of the loan being extended are that the company needs recapitilising - and that does not mean another loan - it will be equity..

Its a mark of the size of the company that the spud does not even warrant an RNS.

https://www.oilfieldtechnology.com/drilling-and-production/28012020/karoon-energy-commences-marina-1-well-drilling-offshore-peru/

Staggered to think people think fool article moves sp.
This stock is controlled by IIS

Water issues still not resolved I see.
Let’s hope they sort this pronto at balcombe as currently Weald sentiment at all time lows