Member Info for CaptainSwag

ex - No we don't know how Leni intends to fund it? Since we have already established they do not have enough cash

Will he sell shares in the kimmeridge jam? how much will be needed ? - not just for exploration drill to confirm whether or not there is a commercial discovery but to complete the mission? ? will they in fact have enough money to complete the mission if there is a commercial discovery?

Is he hoping that if he release jam RNS - then he will get enough traction to do a placing ? not on the evidence of this one.

one thing is for sure it is always interesting with DOR!

it is a pity if posts get deleted.

Some of us on here like to hear all sides of the argument to help us make decisions. If I hear all the negatives and still want to invest then it puts my mind more at rest.

Ross - I do read a lot of your posts and value your opinion. Maybe leave out mentioning other stock ?- to be honest again I am interested in what other posters invest in and why - However you obviously lead yourself open for someone who wants to shut you up.

yeah i always like the RNS that start.."we are pleased to announce the issue of a zillion more shares at a lot lower price than current SP - lol

unfortunately the SP still ended down for the day - which supports my theory that the convicts are a little less gullible than us in the UK.

the big issue is how will the drill be funded?

my guess...........update on monday if good news..update on thursday if treading water

I don't think there will be bad news but i think that there is the possibility that the figures won't be dramatically increased - which could see SP drop.Thursday could limit damage.

be interesting to see if there was a motive behind the tweet

agreed london....if the convicts want to go for jam down under thats up to them...i would be happy to get the opportunity to get my holding to a size where it is worth selling up - and be done with it.

going to be interesting to see if they go for the jam - my suspicion is the aussies will be less dreamy than us brits so i think it will be a much harder sell. i guess leni figured he has more chance on the promise of aussie jam than kimmeridge jam.

good luck all

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i totally agree johnjunior.

Sentiment drove the SP up and disappointment brought it back down. Koot needs to regain the confidence of the PIs.

I am sure it will happen with time - I am just concerned that the next Update will have to come too soon.

haha...yes we will find out if the convicts will play or not.

Leni has put the jam on the shelf now they have to put int in the basket

we had the jam of DOR possibly being listed on the main exchange and it never happened. I suspect if they could have done it they would have

I strongly doubt they would ever let leni on.

it may be announced this week? - really ? how do you come up with that?

I especially like

"While we are still trading under $1, we are always sitting ducks for a derisory lo-ball offer like this, but we have SEBB (the Self Erecting Big Bastard) ready to drill the crap out of the Canning Oil Basin from Easter to Xmas this year, in addition to the Butler Conventional Gas field, which we are about to seize control of from the empty shell and the skint wannabees currently sharing it with us"

ex - you did see it was an Aprils fool joke about BURU?

i agree with ghengis that the tax year could be affecting price. people selling to transfer into a new isa / tidying up / etc. with no immediate news due it gives a good opportunity for a bit of house keeping.

I bought £12k for a little trade as expect it to go up after the start of the new tax year

ex - REY do not seem to be in my opinion in a healthy state. they have $14k cash and only $38k total current assets in total. their non current assets are made up mostly of the valuation of their projects. however they were forced to write off $7.4m as an impairment in the last accounts - basically assets had been over valued.

even if the assets are great - they have no income

I think the fact that they were looking for $12m investment for the gas play and have now done this deal with DOR shows what a desperate state they are in.

fingers crossed that if DOR go ahead and sell their shares to raise finance it all goes ahead and the tests prove a discovery. However my gut feeling is that it is not going to end well

the trouble with AIM is that unless you do dummy trades at the exact time of trade you can't work out if it a buy or sell. it is graded by its relation to the mid point position..Another way the markets stacks the chips like a casino

i do not know if ASX is the same.

with DOR the value is so small that any movement either way seems to be 10%

you are right that i need a 1000% increase to break even - however there will be lots of selling points - of all the various placings

the only issue i have with sites like samso - is that they are paid by the companies involved for PR.
interesting comment at the end by a poster called miner

in samso's first article on dor he says

DOR has a lot of upsides as the Executive Chairman is David Lenigas. David has had a lot of successful corporate activities and the most recent is that of Artemis Resources Limited (ASX: ARV). David is also the Executive Chairman of Artemis Resources Limited (ASX: ARV), Southern Hemisphere Mining Limited (ASX: SUH) and Clancy Exploration Limited (ASX: CLY). That is all that I know.

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not sure how he determines a lot of success - looking at ARV share price dropping 70% in the last year and how leni resigned in feb!

When Reyes originally were trying to sell 50% of the project in 2018 they were looking for around $12m investment to get it to production.

how are DOR going to get that amount? and they certainly dont need to waste money on Kora

https://www.ogj.com/articles/print/volume-108/issue-17/exploration-__development/canning-basin-west.html

to be honest I don't see how DOR will succeed with west kora 1 where the others (esso / anzoil / buru?)l couldn't. It is not like we have a great track record. Seems a big risk to throw what little we have at such a well. esso only got 350b/d before water cut in problems

i would say the butler gas is a better prospect - certainly for jam tomorrow.. however the figures given are very vague as no "chance of discovery" factor has been applied. so it looks like we are funding the tests to see if we can discover anything. I still see the project needing much more capital than DOR is worth. In addition how long will REY be in business with their lack of cash?

Quite honestly i think they would be better leaving the ukog/angs shares and seeing what happens - unless leni knows something

Weren't we listed as a producer on ASX ? - I wonder if we run the risk of being chucked off if we don't actually become one? hence the move for this operator status?

unless someone wants to contact them and let them know? i think people did when we were chucked off aim to ensure it continued. possibly they would listen to premium member more?

thanks mate. And good luck to you too - and everybody else on here.

Hopefully Leni will prove me wrong and we all get our money back!

Ex – were you invested (not sure that is term that really applies to DOR in reality?..lol) at the time of Greenland?

It was a pivotal point for me because I invested in DOR the day of the BBC announcement (in those days I believed everything on the beeb too!..lol) as it was supposedly undervalued compared to the other HH players. We were still on AIM and my dreams of jam were undiluted.

The whole thing sounded fishy and so I did a lot of research and it was that and subsequent events that changed my view on DOR and everything since unfortunately has just made it look worse and worse. I will give you an overview – I could research again and give you all the exact figures but I feel it will be wasted as you will just not accept it whatever I say. So I won’t waste my time.

Basically Greenland gas and oil were a private company of about 10 people who acquired a licence in Greenland. At that time my research showed licences cost in the region of £85000 and the government seemed keen to give them away. Bearing in mind no oil has ever been found in commercial quantities in Greenland as far as I am aware. That was the only assets they had.

Now DOR was going to be kicked of Aim because as being listed an investment company it either had to make significant investments or undertake a reverse takeover.

DOR then purchase just under 3% of the company for £250k. How was that valuation decided? We basically paid their costs for the licence and their only asset for a tiny percentage of the company

However paying that amount for that percentage then valued Greenland gas at something like £8.3m which strangely enough was more than DOR and could then allow a reverse takeover!

Now a number of us on here strongly objected to this and it never came to pass – a due diligence test or something failed – was the reason given. Soon after we were kicked off AIM and on to the lobster pot ISDX. Which we were told was more honest than AIM and the SP couldn’t be manipulated by the market makers etc etc – sound familiar?

Now nothing has ever happened at Greenland gas . In fact DOR referred to it in the recent document as a “passive” investment – whatever that is? I would be very happy for DOR to sell that percentage back before anything else to recoup £250k – but somehow I don’t think that is going to happen.

As for me thinking that the buying of shares was a means to monetizing for this new venture. We will soon see. Dor needs to raise funds by the end of June. I suspect our ukog / angs shares will have to be sold before then. Coincidence? If I was cynical I might think sanderson knew the dump will occur and that is why he placed at 1.05p even though he said he was fully funded. If/When Dor start dumping who knows where the SP will go?

As for thanking Leni – what for? The SP dropped on ISDX- we then changed to an even worse exchange and guess what ? it has dropped again

But dont worry should this new venture be a success i will be the firs

Greenland was a total scam. IMHO. We are only lucky that they never got their wish of a reverse takeover. The shares will never amount to anything in my opinion.

My suspicion is that the selling off of our assets for shares that could be monetized was all long for paying wages and this jam. Neither Ukog or angs have money to pay for our percentage. So it was the only way to raise cash. This is a lifestyle company for the directors generating £100k plus a year.

Whether kimmeridge ever delivers the billions of jars of jams still questionable. But this new venture will prolong the dream for some and continue to pay the wages.

I am not uptodate on kdmc - but my impression is they are pretty fooked too

well he said we went on ASX for all these institutional investors gagging to get involved but who would not touch AIM - Presumably because of all the snake oil salesmen..lol

my own view is that was not the truth - we were going to be chucked off anyway - for the same reason we got chucked of AIM

so now he can show us the truth of that statement