Member Info for cd66beta

Google "overpaying its ceo", you'll see this is just computer generated tat.

Premier are paying $23M for 60% of "an accumulation of more than 1 billion barrels of oil in place"
88E/Burgundy are paying NIL for 40% of "an accumulation of more than 1 billion barrels of oil in place"

I hope we can do more of these "shockingly abysmal" deals in the future.

Winter is when all the work gets done.

Our partners do seem to know what they are doing in O&G!

Just catching on today's action, saw this "as the perma frost forms" and spat out my tea! Who said great comedy was dead? :D

We'd be ecstatic with 15-18p. Pss poor troll attempt.

Possibly in a podcast, but if there's no link from apunter2 I could well believe Chartman's sauce comment!

In the mean time this is an interesting article on PMO's CEO (I've removed spaces in case it gets mangled). Seems given how close they were to going out of business he's extremely prudent and highly selective on what they choose to now invest in.

managementtoday. co. uk / premier-oil-survived-oil-price-collapse-haggling-bankers-botched-investment-return-growth/growing-businesses/article/1590211

“A man is known by the company he keeps” - Aesop

I too cannot find any reference to this 60 well plan.

apunter - can you provide a source for this?

He made good points on why it was Premier not a "major" re timelines, working interest and culture. Basically with a major there would have been no split into areas A, B and C they would have wanted the lot, they would have wanted the HRZ as well as the conventional and there would have been no drill until 2021.

Chartman - like this one "All the companies on the North slope said no." - I mean how could anyone except an insider possibly know that?! Utter nonsense.

Q. "Serious question.. why store it and not just ship it straight out in a tanker?"

A "why have a bladder in your body? Just pee on the floor continually"

"cost of extraction at 60 bucks per barrel or less sees little or no profit"

That line makes absolutely no sense whatsoever. The rest is just a rant.

I topped up with another 1m this morning. I've been on a free carry since getting back all my initial investment when we got up to 4p or so a couple of years back. CR and dilution is often disappointing but can be a necessary evil. This funding will see us through the PO testing in Q1 which was a concern to lots of people. I think there's a very good chance of the drill being successful given the partner and time involved and the sp to reflect the success, hence my top up today. GLA.

Gosh, someone who believes a politician will do what they say they will do.

If the BoD have a legal obligation to get the best return for shareholders then there must be an open bidding process for the assets, not merely allow an ex-BoD member to buy them unchallenged. There's a clear conflict of interest here.

"... right from the start why EWTs were not done" is of course a complete oxymoron!

No surprise Miloh posted this.

Good posts Mike, Brom, Spine - also worth mentioning Dave has said in interview he has reinvested almost all his net salary into 88e stock and options. As a major shareholder his main return will come from a sp increase, not from his salary however large some people regard it. Failure of course will me no so increase and likely the end if this "lucrative" salary. c.f. 88e with AST where their board has almost zero shareholding.

Bob, as CO has not sold all his stock you have defeated your own argument. If he was going to dump it all he would have done so. He's retained 60% with a free run strategy which is common sense.

Also you're clearly in Reabold and slating UJO which is exactly the tactics you are accusing CO of running.

... Night of the Living Dead ... :-O :-O