Member Info for DelBoi

Is that the builder from Aberdeen, who put £1m in and made £40m?

1.45p almost gone for good

Taken a further 450k here today over two lots, still not finished loading up. Should see a £40m MCap into Q1 Q2 next year. New farm out and I suspect we may even be awarded a discovery with Shell.

Offer looks light. Looks set for a break out from here.

Agree, I reckon it’s LO offloading, most likely capitalising off forward selling from the SP spike earlier in the year, can now sell at a loss ,evening their book. Once they dry up this will bounce, and hard IMO.

I continue to add, 35% below placing now and word seems to be spreading.
GLA

Anybody got RSP, who’s sitting on the offer at 1.35p?
The buying volume here is immense.

Well summarised Mike.
Once the retail following picks up and the PR machine starts we should see a dramatic rise from this price.

“The blocks applied for contain a number of drilled discoveries, undrilled prospects and leads”

Potential get some reserves or 2c resources straight onto the balance sheet.

Will be taking another chunk myself this week, the cash position makes this a no brainier IMO.

Most likely a II exiting the market, have seen it before in multiple other stocks. Possibly getting out of the oil and gas sector. Or just lowering there %. Value will win out eventually.

The company are working to deliver material news on a number of fronts, which could literally land any day now. I would suggest that the SP will be a lot higher if and when it does. Enterprise value of approximately £3.8m currently!! IMO downside is minimal at this level and the upside is huge.

Sorry to hear you have lost faith Mike, completely appreciate the frustration. I have taken some at this level and will continue to add if it drops. The way i see it, market is pricing the company close to cash, with little to no value attributed to the Shell partnership. Just need to sit tight IMO.

I think I’m correct in saying CLNR have close to £15m cash, leaving them with a current enterprise value of just under £4m, seems cheap considering the partnership with Shell and the potential for more farm outs.

Plain and simple, If Lo weren’t selling, you wouldn’t be presented with this buying op IMO. S1 is a spectacular find. Only thing holding us back is the binary A2 play. You only need to look at JOG and ECO to see the value disconnect here.

That 70mmboe could easily be 100mmboe + recoverable soon. And you can bet that RRE and repsol are fully aware of that. This puts us almost certainly into development with them. I expect we will get free carry on the next appraisal well, and that’s if we want it. We’d probably be closer to a £70m + MCap now if we didn’t have a seller, they’re purely being facilitated by the warrants. Can’t ignore the fundamentals for much longer - after a successful drill at A2, £2 comes into play. GLA

Thanks R, You should be back on track in no time, £4 m MCap seems far to cheap for a company that could potentially be generating that amount in revenue next year. Just a waiting game now.

Good morning all,

Started scaling in here today, not sure home much longer the market can ignore the value disconnect here. Busy few months ahead.

GLA

Great to see the state governments are turning the screw. Certainly signalling strength.

I have been told that Chris is currently in Malaysia with a busy schedule. He’s also stopping off in the UAE on his return, meeting with a major gas power company and a potential investor.

“We have already identified opportunities to progress with strategic partnerships involving the re-development of proven fields which are presently uneconomic for their current operators.”

Petronas have a number of brownfield sites, could be transformational for a company of our size. Especially in oil rich Malaysia. 5k bbl per day easily achievable across 2 or 3 wells, potentially infrastructure already in place too.

https://www.google.co.uk/amp/s/www.nst.com.my/node/320900/amp

No, just you.

Only fools rush in Levis... I’m sure its on a few radars now

https://twitter.com/delboiaim/status/1177978272480743426?s=12

With the formal award of the Saouaf licence to UPL, the company inherited a 227BCF onshore gas discovery, with confirmed gas to surface. UPL’s share of that discovery is approx 20mmboe. Apply a conservative $2 valuation to each bbl = $40 million vs a £12m Mcap. *
Worth noting a single appraisal well may cost as little as $3 million to drill, given favourable rig rates, onshore and it’s shallow nature.

The region is operating at a 50% energy deficit and our licence is surrounded by infrastructure and coincidentally further gas pipe lines are being built around our licence next year.

Just as a comparison the largest ever onshore gas discovery in the UK is 189BCF - with the various companies involved adding tens of millions to their respected MCaps.

People complaining about slow progress and frustrations running high, take a step back and look at what UPL as £12million Mcap have achieved in Tunisia alone. I continue to add at these levels while we’re still understated.