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Hi, first post on this board, have been doing a bit of research on LOGP and interested in taking a position; seems a fairly compelling case given the 100% reliance Ireland has on imported oil. Am I right in interpreting this as a fairly binary case: the ministers either grant a Lease Undertaking for Barryroe or they don’t? All potential value hinges on that, right? TIA
Morning BOILers, just spitballing here, but I was thinking about our capital structure and wondered what people thought about the likelihood and merits of a future share consolidation. If/when good news begins to land and our MC starts to evolve (with the accompanying increase in volumes and volatility), would a consolidation be a good thing in your opinion? I’ve seen it undertaken in other small caps that had unavoidably ended up with substantial / excessive volumes of ordinary shares. But it had mixed results regards whether it helped bring about ‘stability’ or even dissuade the day traders etc. Not an area I know enough about, so interested in views of others - thanks
Might be nothing, but was interesting when Andy Y was handing over to Andy B during part of the Q&A and he said something like “you pick this up Andy, I’ll jump in if I need to stop you saying something” (or words to that effect). Hoping that means something juicy is brewing…
@HFB, when BOIL does its investor presentation this month, it’d be good to hear them opine a little more on this area of the story. Your posts have helped to educate me and others on here as to the reality of the situ on the ground when it comes to TL and the posture they’ve adopted for the last 20 years - which I thank you for. But I haven’t heard too much from our CEO on this point, from what I’ve read and watched. If the reality is as binary as it seems, I hope they would be honest on this point and perhaps expand on what they’re doing to lobby etc? I agree the SP could explode if a buyer, JV offer or approved export route were to come about (which is why I’m invested) but I guess it walks hand in hand with the risk we don’t get those favourable conditions in time for the drill/drop deadline…
@Percy197, I don’t mean this argumentatively / antagonistically, am genuinely interested, why do you think 0.4p+ will never happen? If a major wanted to buy out or JV in some way, and/or the island announced a positive decision re export routes, we’d expect the SP to explode. Interested in your thoughts - thanks
Happy new year BOILers! Here’s hoping 2022 is our year and that we get delivery of some great news - from the island or otherwise - that brings the value of Chuditch to life, as we march towards an eventual drill or drop deadline.
Some might already have seen it, but V O X have included BOIL in today’s trading overview, given the bit of movement it’s seen. For whatever TA is worth, the Oct resistance line has been crossed (potentially indicating it’s bottomed out) and a close just below 0.08 today would indicate 0.1 as the ‘likely’ next target (with 0.16 the next milestone).
I place little stock in TA when it comes to micro caps, but I suppose charting can provide an interesting complementary bit of info, if nothing else. Hell, as long as it’s pointing upwards, who cares!
Good reminder Bonzo82 re the interim survey results; we should hopefully have them before end November, going by their earlier ETA, but might creep into Dec. Even with very positive indications, those results may not lead to any seismic shift in SP (though a wee uplift would be nice, for blood pressure purposes if nothing else), but might help create some news/chatter about BOIL on the various trading/stock pages and get it back on some radar screens.
Slightly unanswerable question, I know, but do we think it likely we’ll receive an update before the festive period? Was reading back through some of the RNS’s and reminded myself about the comment in the interim results around BoD being ready to commence discussions with any potential parties who may be interested from Sept; here’s hoping there may have been one or two parties keen to discuss the benefits of getting an early foot in door (assuming they have confidence a route to monetisation, one way or the other, will unfold). Am hoping recent months’ relative silence is because they’re waist deep in negotiations. Fingers crossed!
Hi Spudton, I think the ref to Q4 2022 is in connection with the ‘drill or drop’ decision point on Chuditch, which is the ultimate deadline. It’s not quite the case of waiting until then to find out if this is a winner or loser, per se. We could get a decision re JV partner, or a buyout, between now and then! And any news could land from end March 2022 (now following the TL Gov six months extension) regards the wider situation re end of bid round and what might transpire re bidders for other licences and the bigger picture regards routes to monetisation for these fields (ie does it look like an on-island processing plan route or FLNG or existing Darwin pipeline infrastructure route?). HopingForbags has posted multiple helpful posts on these matters. But there’s much between now and Q4 2022 that could transpire to create major volatility in the SP :)
Well, all in, remaining flat today is not a bad outcome considering we’ve held onto the gains of recent days and withstood the big sells we’ve seen come through today. Could this be the beginning of a new level? Let’s see how Thursday/Friday pan out, but hoping we’ve ushered in the > 0.10p era :)
Totally agree Shaa, CEO sheltering shares under his ISA must be a good omen, lol
But in the meantime, breaching 0.10 and holding above would be a great technical and psychological barrier broken down, and might/should open up a new front.
Hi Shaa, I guess we could get a game-changer RNS any day - in theory - when we consider the interim results mentioned that they “anticipated initiating” conversations with potential partners from Sept onwards. But realistically, I’m sure it’ll take more time, but you never know.
Given we’re not part of the licensing rounds and already have an independently evaluated prospective resource - which the BoD is confident is of a sufficient level to attract the interest of major regional gas players - it’s not impossible that a major could be motivated to JV / buy out early. As HFB has articulated in various posts, I guess it’ll hinge a lot on their confidence in/inside knowledge of how the route/s to monetisation may unfold for ours and the other fields in the TL waters that the Gov has confirmed it wants to address collectively.
I’m not getting my hopes up for an ‘any minute now’ announcement, as I’m sure it’s a complex, lengthy business trying to attract and negotiate through these things, particularly given the situation and history with TL. But would seriously hope the BoD can throw us a bone before year’s end and a meaningful investor webinar, as they indicated.
@Spotify, according to that chartist, the movements indicate an upper ceiling of £0.0013 by year’s end, with a “fair wind”. I’m always on the fence with TA for micro caps - some place great faith in it, others think it has the credibility of a horoscope. But either way, if it’s indicating any sort of upward trend, and possibly generates some interest in BOIL among others, I’ll take it! All I know is that when the market gets a mere sniff of positive news around BOIL, and new money starts to flow in, we’ll move fast. I’m hopeful that exceeding £0.0013 will be a doddle once the momentum begins.