Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I've read TP have an EV of £10mln. But what are folks targets here IF the donovan drill campaign delivers?
I'd agree with your figures. However, due to selling it, they would have to ensure there is profit for the buyer. I'm gonna say (with a high degree of confidence) in the range of £1.5-2mln in a sale scenario. Maybe more, but I'm not sure of that.
Cash
Anyone want to take a stab at how much the oil assets (less liabilities) are worth at the moment?
It would seem the proceeds from the sale of oil assets will be huge factor in determining the overall market value and cushion for success of the new CBD business. I've not followed HNR for a few years so have no idea.
Cash
Lots of Rookies on this board. The signs of an oncoming placing were clear as daylight. For the experienced investors/traders who have been around awhile, they were calling it right. The signs are clear; strange SP action, Big sells being put through (mistaken by folk on these boards as big buys), management silence or the usual 'copout' answer - we are fully funded for current/immediate operations. In many respects, the price achieved is actually respectable. So what would you rather; dilution ahead of ops - or - take the risk of running ops and then dilute (no guarantee of success)?
What DB did was good business sense. Take the money at a good price now because it may not be available after at the same price or level of dilution. Remember, AIM is placing/dilution heaven, so be careful. You won't always get the placing at the price you were expecting.
Cash
The SP action looks suspect to me. Are those massive trades some are calling buys, actually buys? (Priced at below 0.19) I've seen this many times before in smallcaps prior to a fundraiser. Note all the PR they are about to do aswell, the usual routine.
In fairness, a fundraiser for a good reason/purpose is not always bad. Also, small companies tend to do them before crucial operations, even when they have 'sufficient cash' for forward immediate operations to mitigate in case results do not turn out as expected. When asked about dilution, the 'sufficient cash' answer is a necessary copout by bosses who do not want to answer in a straight forward manner because they may not be allowed to if its yet to be agreed.
As for TR-1s, someone mentioned the otherday, there are only a few people with the volume to sell those huge amounts. One left the board recently. Not saying its him, but very few others with that kind of volume.
The well ALSO encountered hydrocarbon shows within the deeper Cadeby formation, a secondary target.
A net 65 metre hydrocarbon saturated interval has been encountered from within the Kirkham Abbey formation indicating a substantial hydrocarbon accumulation, including a significant liquids component.
Vanguard, doubt 'big boys' will gobble ujo up for control of WN and the overall license. If they want control, its clearly Rathlin they will make a move for. I think they have a good idea by now the likely scale of resource at WN based on logs and cores.
I will also say, investors should focus on the Gas and its liquids component, not necessarily get too hung up on the deeper oil. That will be intercepted at a better location in next well.
Cash
May well do. But they will need to increase their stake for it to be meaningful to the cornerstone investor. Which of the current partners will sellout?
Cash
The dilution for the Shaikh stake is tiny, I struggle to see what they can get with that small amount. That's more like interim working capital until something is reversed into them or they takeover something.
Cash
One wonders what his plans are. If he wanted MXO, he could have bought it out for very little.
If he backs it financially or brings new people/assets to the table, then it has legs. But with rich folk, if they want this at any cost, they will just screw shareholders and get a scheme of arrangement or something else done to force their control, then delist it.
Not enough is known just yet, its telling they want to change name so to me it sounds like new assets maybe on the horizon funded by dilution down the line.
Cash
I make revenue $3-3.5mln a year based on lifting cycle of 3 cargos a year.
Cash
Hi happhols,
I switched my position here to PANR upon the Great Bear merger. They have exposure to more Alaska operations than merely Winx. I like the Winx target but as below, even when you think you've got it in the bag, it may fail for other reasons. As RMP are exhibiting similar form to their previous wildcats, it means it's a do or die situation here.
Keep in mind this company was involved in oil-to-water episode in Puntland. In fairness that was down to Keith Hill and AOI. But even when logs indicate oil, you still can't be sure.
Folk talking about who will increase the most in a full on success need to ask the question what will happen in a failure case. That's all I'm trying to get across, be level headed and remember, the key to longevity in this game is to preserve capital. Don't blow it on a single outcome with next to no recourse or fallback position.
Cash
RMP has the most exposure to success/failure. It will be feast or famine.
88E similarly exposed and do not have much money or other projects to fallback on. They dilute on a regular basis.
PANR are diversified between Alaska and Texas. Their Alaska position benefits from $100mln 3D seismic spend by GB, which virtually fell into their hands via the merger. Their Central blocks have 3 known oil discoveries, the most recent being AlKaid, which is huge (549mmbbls in 3 intervals) and will go into testing in April or thereabouts. They will follow that up with a Texas production well where the company has some cashflow. Great Bear petroleums people are now with PANR, they are the ones who licensed and even made Winx possible. They are keen to test AlKaid because the prospective resources on the mammoth acreage, now held by PANR, is in the billions for conventional and unconventional alike. Having followed the renascence of Alaska, I believe that GB acreage, now controlled by PANR, is the sleeping giant that many have not realised yet. The oil discoveries have been moving into the interior away from the coast - PANR has some the best turf south of Prudhoe Bay and Kuparuk.
Important to note, RMP need a successful discovery at Winx. So it's basically a roll of the dice for them. A textbook gamble, win big or lose the shirt on your back. This is not investing.
To see what the outcome could be like for RMP, go back to 2012, and see what happened after Puntland failed - many those investors have not recovered their losses. It was a bloodbath. I am not here to scaremonger, just challenge much of the prevailing narrative that RMP is the best way to invest in the forthcoming Alaska operations.
Cash
That's very high risk. I would suggest RMP Winx partner PANR is a more diversified and safer option. PANR; One of the biggest acreage holders on the North Slope after the merger with Great Bear petroleum. They have 10% free carry on Winx and an option to back into another 10% if the well is successful. They will also be testing the long awaited 2015 AlKaid oil discovery (75%, 549mln bbls prospective resources) in April, situated on central blocks of Alaska North Slope. Then they will be drilling a production well in Texas (eagle ford sandstone). The well to watch is AlKaid, already a significant discovery which due to conditions at the time they were not able to test. Many of PANR's shareholders are Great Bear investors and management.
Listened to the Vox interviews re. this new WN-A asset. Can someone confirm whether I heard this right, DB states in the interview they have 'Graham Dore' reviewing the subsurface data for this asset?
Cash
After the last update, that led to this fall, someone posted a message on here from GH where he alluded to the potential JV partner having structural issues. I said at the time that sounds like Repsol Sinopec who are completely restructuring their North Sea business. They are also partners in Blake.
Cash
They have pretty strict reporting guidelines when it comes to frontier exploration wells on ASX, so it could be standard update indicating all is well and they are upto so and so depth. I believe they have to report progress every couple of weeks on high impact wells, regardless of any oil being encountered.
Cash
BarkingCrazy,
If the rig is not fit for purpose, someone needs firing - I recall AAOG posting pics of rig acceptance testing on twitter.
I don't think its that, I suspect its just a glitch with one area or part of the rig that needs addressing.
Importantly, the update is reassuring that it is a rig problem and not a reservoir/downhole problem.
Cash
Just been looking through this today, after first seeing it two years ago.
Any reason why there is such a discrepancy between ADL's/Eagle assesssment of Badger prospect and Atlantic's?
I was not a previous holder so no axes to grind, just a genuine question, because I cannot reconcile the two.
Cash