Member Info for BumblingFool

I would think and hope they are not intentionally reducing production. Highly unlikely in my view. There is lots of reason why thoughput might be down. Possibly storing more due to oil price drop. (They did that before) could also be government taking there barrels from well head by truck again.

I find the lack of update regarding 3rd party crude disappointing

Big smoke that land base value the company has in presentation doesn’t include OBA or any upside. I think 30 p is very realistic, it’s actually a steal for the buyer!

Interesting QandA doc has been added probably some time. For those who like technical detail stuff

http://www.ongcvidesh.com/wp-content/uploads/2019/05/Reply-to-Bidders-Composite-Response.pdf

Thanks ab 76 for confirming my suspicions. I can now be sure I don’t understand these forms!

Oh yes missed that 4.8% so maybe 11% all in.

Total swinging in would be an interesting development. It’s going to get interesting over the coming weeks.

Im no expert at understanding these forms but the AXA form names m and p and shows holding of 5.6%. The Stifle form showed buys and sells so I’m not sure what to make of it. But I’d say no more than 6% total.

The axa RNS names m and p

This new AXA also looks like acting for m and p

SCOPE OF WORK
The Legal firm/ company should provide the following services to ONGC-VL- Colombia
? Provide legal opinions upon consultation.
? Design legal strategies upon request and among with legal coordinator of ONGC VL.
? Attend and actively participate in meetings upon request of ONGC VL, providing legal opinion
and advice align with the contracting company aims.
? The agency shall provide legal advice in all areas of law to ONGC-VL, under all applicable laws
of Colombia and upon request of contracting company.
? The agency shall make the best efforts to provide the most accurate advice to the contracting
company.
? The agency shall provide the opinion within a time frame jointly define once the request is
made by contracting company.
? The agency shall provide guidance in order to meet mandatory requirements applicable
according with the nature and industry of the E&P company.
? Drafting, reviewing and/or analysis of agreements upon request of contracting company.
? Support analysis, evaluation and reachment of agreements from legal perspective of
potential business or alliances.
? Advising and support regarding compliance under Colombian regulations.
? The team members of the firm must be promptly available/reply for the project as and when
required.
? Any other matter related to the nature of the service rendered.
? The team members must essentially have experience as under:

Nonsense why does it have to happen. If it doesn’t it doesn’t no big deal. The market will have taken a good look at the assets and a new base will have been established. This has come about earlier than is desirable for max investors value. I think it will probably be sold and we probably won’t get as much as some hope, but there is strong grounds to argue for a valuation north of here. It might go for less than 25p which will be a tragic. 30p+ and I won’t be too unhappy. Might be a combination of shares and cash. Personally I’m ok with that if the cash is 20p plus. You seem to think higher expectations 46p etc are unfounded but such a view can be argued given the assets and potential. I think it’s unlikely but I’m happy to accept that upside potential is really good and downside is limited by improving market knowledge of the company. In a no sale scenario a drop below 15p for long now seems unlikely in my view

Says they talked to significant shareholders over the weekend. Guess they are trying to convince that the share offer part with accelerated development and exposure to there wider portfolio will be attractive to II. Hopefully they are as underwhelmed as me!

12.5 cash and rest in shares. Low ball! But a starting position

Can’t help butt feel this sales process is too soon. We really needed to prove up some prospects for maximum value. I think the received offer is probably at a decent enough level to tempt the II who are likely fed up by the poor performance here. I expect the sales process is our board trying to delay and respond to prevent this getting away on the cheep. I recon the offer is probably about 30p which is a significant premium on the last 5 years trading but way less than what we are likely to be worth at the end of the current planned fully funded program. Still I won’t be unhappy with 30p if that’s what we get, but can’t help feel it could have been a lot more.

I believe the 367 stated was or the land base and did not include pipeline.

Itron

I feel for you this has been a hell of a tough ride! I’ve been holding on substantial losses for some time. Back in profit today but actually underwhelming response by the market given the assets.

Worse case I recon is 21p but I think 24+ is more likely. I doubt we will be sold for anything approaching fair value, which is more like 50p but it’s possible. I’m holding and watching how this plays out for now. Thought for sale sign would have put us strait to 20+ but I’m down grading my expectations as 17p is looking hard to breach.

If ongc didn’t believe the block would be capable of producing 25 thousand bod they would not be developing it.

148million currently

The value of shared areas with Oxy and our cash in the bank are roughly the equivalent of our current market cap. That doesn’t take account any producing assets or prospects. I can’t understand how we haven’t at least got back to a 200 million Mcap by this point. It defies belief.

https://oilprice.com/Latest-Energy-News/World-News/Obamas-Clean-Power-Plan-To-Never-See-Light-of-Day.html

Shame!

Not a surprise given the current SP. won’t matter in the grand scheme should CS come good