Member Info for Bridgedogg1

lots of trades going through to close, people looking to get out with profits but also new buyers. Consolidation for another push later in the week??
GLA

Held up quite well with some consolidation after the day traders took their profits. Ready to continue the upwards trend over the next few days IMO

The known asset values this company at well above MCAP, but the 'unknown' asset could be a game changer...

My chart is showing 2.1p from here, maybe i'll be right (this time)((first time))

the 1.41 level is a difficult nut to crack but its certainly getting bashed

FOMO hitting hard

Another subtle de-ramp from moneymaker, didn't get in yet? Dont worry this is just getting going!"!!"!"

draft - certainly wont be for free and we dont have the cash or wherewithal to raise to buy even a small tangible stake. Expect a large chunk of the company and some control would have to be exchanged in some way.

EM have valued the asset at $250m so maybe the asset will be RTO'd into the company?

Happy to give away £1m MCAP for tens of £millions£ worth of asset. As a listed company we can be very handy for the shy investor.

Looking good

Very happy with the share price today with no fall after yesterdays rise and the lacklustre performance on ASX. As I said before should be single digit blue days from here.

US giant Exxon Mobil is reportedly looking to sell its participation in the Neptun Deep project, which involves exploring and exploiting Black Sea gas, valuing this asset at USD 250 million, according to sources cited by Reuters.

The company currently holds a 50 percent stake in the Neptun Deep project, while the remaining 50 percent is owned by OMV Petrom. So far, Exxon has invested over USD 750 million in the project.

During 2009-2010, ExxonMobil’s Romanian subsidiary, ExxonMobil Exploration and Production Romania Limited (EMEPRL) acquired more than 3,000 square kilometers of 3D seismic data over Neptun Deep Block using state of the art technology. In March 2012, Domino-1, the first deepwater well in Romania, located 170 kilometers offshore in water about 1,000 meters deep, confirmed the presence of natural gas.

Further, in 2013, EMEPRL completed a seven-month 3D seismic study covering approximately 6,000 square kilometers in Neptun Deep Block — the largest seismic program ever undertaken in Romania. In January 2016, we successfully completed the most ambitious exploration drilling campaign in the Romanian deep water sector of the Black Sea which included in total seven wells drilled with exemplary safety and environmental performance and fulfilling all minimum work program obligations.

In February it was re ported that the Domino-1 well had encountered 72m of net gas pay, suggesting as a preliminary estimate that the field could hold between 1.5 and 3 Tcf of gas. This discovery is potentially the biggest gas find ever for OMV, although Petrom is already the largest oil and gas producer in South East Europe.

Looks bang on. I have to say I didn't think the deal would be as big as this, I wonder what stake we would be getting. Exciting times for holders. Great investigative work!

The 'action group' have no positive info to share, if they did it would be all over here because they are invested. Hence they turned u, vote wasn't passed, did their little speech and went home. Outcome - company has no cash. Hope you are pleased with yourselves, got your little say didn't you? After all this time the shareholders who have been banging on about what the BOD should do. So you organise, get a bit of power, and wham - shut the company down in 5 mins. Yeh, you lot should be dictating what the BOD should do, that turned out well.

I think we will had a financier and be part of a larger consortium buying the asset.

Just had a relook at the acquisition rns and noted the ‘purchasing parties’ indicating we are buying with someone else??? Interesting. Over a month ago now so could drop any time.

The purpose of the exclusivity agreement is to set out the heads of terms upon which the purchasing parties will acquire 75% of the issued share capital of the operating company from the Vendor, in consideration of an upfront payment and a free-carry component of the initial development capital. The agreement also sets the terms for the exclusivity period necessary to allow the purchasing parties to review and carry out due diligence on the transaction. The exclusivity period has commenced and will run until 28th February 2020.

Still only worth 2m, still has a great asset and news of another in the pipeline. A few of the trades have jumped out but I see this doing at least 200% from here. News could be massive due before end of the month. Can’t wait that long?

Based on available info:
22 feb - rig mobilisation (rns)
14 March - spud (Permit 20 days from rig mob)

But latest update said spud late feb so the rig must already be on the way and/or the permit to drill timetable had significant contingency built in.

Although we will have less acres now that the leases have been transferred to PMO just goes to show what good vision was had in those early days.

I’m sure already posted but I noticed the write up on the 2019 lease sales showed north slope bidding at up to $277 per acre 9 time highs than Beaufort sea. We have 500,000 acres and I think we paid around $30 including costs for the original tranche.

http://dog.dnr.alaska.gov/Document/48A493BFCFF742C795D07BFE62723DD7/12-16-2019_Newsroom_2019_Oil_and_Gas_Lease_Sale_Delivers_Positive_Results?

The state received 56 bids on 56 North Slope tracts totaling 108,320 acres. With the highest bid of $276.95 per acre, these lease sales will bring up to $6.6 million in cash bonus bids. The state also received 13 bids on 13 tracts in the Beaufort Sea area, totaling 46,290 acres. With the highest bid of $31.13 per acre, these lease sales will bring in up to $1.2 million in cash bonus bids.

“Current plans of development indicate up to 10 wells will be drilled this winter to confirm the size and reach of oil fields,” Stokes said. “And we’re getting quite a bit of inquiry about permits for 3-D seismic work that could direct future exploratory work. It’s all very positive for the State of Alaska.”

MNRG have said they want to be a holding company for investors who may not want to be front and centre of the asset purchases (Chinese, Russians etc). It may be that the asset is being targeted by an outside investor who has approached MNRG to purchase, in which case we may see a large investor issues with say 40% of the shares, maybe a representative on the board, in exchange for the asset funding. Also worth looking up reverse takeover.

Edit: should see some more 5% daily rises with a few flat and the odd down day taking us to around 1.5p spud ;)