Member Info for Coldjoe

I reckon we need to get the rig first and then we will start to move up end of Nov/Dec and Q1… either way MATD always surprises with that so I don’t think there is much point talking about it, let’s just wait and see;)

Good timing for us if it happens:

https://oilprice.com/Latest-Energy-News/World-News/Bank-Of-America-Sees-120-Oil-By-June-2022.html

Haha wtf indeed, filtered too

You have never seen CEO run any company remotely? I think like quarter of companies on AIM have assets in Africa and offices in London… anyway why am I even replying? Filtered

Hah it’s not even listed on FTSE you absolute kettle! And MB is not the one choosing placing price, it’s the brokers… jesus

Would be nice to go to the placing price, current valuation is a joke

Hmm that’s always tough to predict, I think a lot of people are planning to buy in late Nov/Dec so I would expect at least the placing price this year (if we get our rig)

Yep my thoughts exactly, I reckon we will get some operational update in Nov too, fingers crossed for the rig!

No surprise, the MMs are taking the pis* today

Manro, I don’t think anyone here thinks that MB is exceptional CEO, I reckon average at best (pretty standard for an AIM company), I was just curious why are you still in if you think what you say about the company and why you stayed all those years, but I guess even you don’t know, so let’s just leave it, this debate is a waste of time :D

Hah Manro good luck with PFC, but I don’t understand why you haven’t sold all your shares here when it was almost 9p this year, but whining people like you are on every BB unless the company is on ATH so I guess there is a pattern

Hmm good question actually , I’m not sure either what are the costs per barrel, I would hope it’s less than 50$ though - quick search:

Conventional Oil
Conventional oil production generally refers to the pipe and pump production off a vertical well. This means a hole has been drilled straight down into a deposit and a pump jack is put on it to help pull the deposit to the surface where it can be sent on for further refining.

The cost-per-barrel of conventional deposits varies, with Saudi Arabia able to produce oil the most cheaply, sometimes under $10 a barrel.2? In the Middle East, non-producing onshore fields can produce oil for less than $20 per barrel with an average of $31.1?

Well we are getting decent volumes past few days, hopefully we can flush out the sellers soon and move into 3s before news (and pray for a rig meanwhile :D)

And yeah if we can get a rig I would expect 7p on spud with this oil price, who knows

Some of the questions such as royalties/tax can be answered here https://youtu.be/TgS2huAm0Fs

Tax is 10% and royalties 5-15%, the bit about logistics is there too I think

Anything is possible Hamm, this is Aim after all, place your bets and give it a few weeks, we shall see soon enough

PM was always able to secure rigs in the past, the things that make it more risky now are:
1. PetroChina's backlog of work from past year due to covid
2. higher price of oil - possibly more activity by PetroChina + higher rig costs? (in one interview of Kistos I heard that ironically the costs of equipment are still the same, so not sure)
3. most of the rigs and crew are owned by PetroChina so perhaps they could use that as a leverage on farm in talks (on the other hand we are a tiny player for them, hardly worth some shenanigans)

I'm confident that we will get our rig in the next few weeks, but it is definitely a risk, no question about it.

Hah well as MB said the biggest risk is getting the rig now, so let’s see how that goes… we should know sometime in the next few weeks, I reckon if that works out then we will be pumping oil next summer!

Well it’s a classic garbage talk as we wait for next news and the sentiment is low, wan*ers like Hamm and Superroty are everywhere, I’m sure they would both do much better job than MB, especially operating in country such as Mongolia

hmm well I don't see the point either to do the same interview 3 times but okay I guess it's their idea to keep the investors "updated" regularly.... with the rigs it is obvious risk but it's still quite suspicious to hear him say it all of a sudden :D fingers crossed we get some positive update soon.... renewable energy is the trend these days it seems like, but I hope we won't spend any bucks on that until block XX is making some decent cash