Member Info for eegbvi

Winger1 I wasn't referring to their geologist but the BoD negotiators who have previously turned up at various oil exhibitions etc. Even some of the Arabian Gulf majors have the sense to put the right people forward at major exhibitions and conferences. To date ARG hasn't exactly covered itself well in that sphere with its "For sale" label hanging out.

Murray 604 this one has been looked at many times by different oil cos including even FOGL and they turned it down because they couldn't see any value in it. Its quite a different geology to Sealion and if anything at all could be gas. But given the latest GTL proven technology gas will eventually prove to be more valuable than oil.

Luckyman2 yes he must have a lot of rabbits but my own oil co has been offered this one at various oil shows I've attended. I was not impressed with the presentation nor with what was on offer. Got the distinct impression it's a bunch of amateurs trying to be oil men.

ARG has no chance of this as the BoD have been two years trying to find a partner at various oil shows etc. No one is interested as the ARG BoD are fishermen converts. FOGL looked at it & didn't like what they saw and its been the same with everyone else. You may be lucky but don't hang your hat on it as it will take a massive change at BoD level first plus ARG doesn't have enough cash to do anything with its blocks. Its only hope at least for now is perhaps get FKL involved but ARG is trying to ask too much for too little But if the fishermen running ARG start to get real for once then it just might change.

Bamblemash interesting that its all from one pad as this indicates they're likely using the new Octopus system which is fully computer and optic fibre controlled. This is much cheaper, quieter and cleaner than the usual horizontal drilling and will take six wells on a one acre pad. Fingers crossed time !!

Peacelover1 its going up again slightly and seems to have stabilised for now but it could drop again somewhat prior to moving higher again. Outlook is $80-82 by year end to coincide with Saudi budget as Saudi will start to turn the taps down in about six weeks or so on the back of more US shale oil chapter 11 bankruptcies. If you want to keep up re price go to Oil-Price.net

CoconutGrove thanks for copy article, most interesting. To move on have a look at www.synfuels.com/GTL . This is the way forward for natural gas. Petroleum at 85% cheaper than crude oil petroleum. Synfuels has a 25k bpd pilot plant running in Kuwait very successfully and is building two large commercial plants in Canada plus SE USA to have 80% US cars running on it by 2019. Its also had two years testing by USAF B52s and goes into commercial airlines later this year. So if 88 has a lot of Alaska gas it will be profitable.

Darkblue, there is already a listed 888 Holdings so it really had to be just 88.

Its probably that the guy understands and maybe believes in numerology as this runs 1-9 in cycles and 8 is the strongest one. For example 2015 is an 8 year if you simply add up the figures. You can do the same with birthdays by adding together day, month and year of birth together into a single digit number. It certainly seems to work, far more than astrology ever does.

Quindell Sorry don't have the link to hand but it will be on the US and Alaska Govt sites. Try under oil drilling rules etc. I forgot to mention that quite recently the Royal Dutch CEO said on a Sky News business interview that Royal Dutch Shell is looking to go into Alaska re both conventional crude and shale oil. So I really would try to stop worrying over this particular point since its quite usual in the oil industry as I well know from being an oilco director myself.

No its fact ! I recall it was even mentioned by TPET Oz in one of their press releases. But if you want to check go to the appropriate Alaska Govt website probably under bids & contracts. My concern is when the rights issue is forthcoming some sort of preferential treatment may be given to Oz shareholders.

Quindell some of the existing large Alaska players were excluded by the Government and local government on competition grounds and a more varied mix of exploration companies was required. Sound familiar in UK for example. ??

Sophiegborowman it would be better if these people got it correct that Alaska is the possible world class asset rather than the Moroccan busted flush. Doesn't exactly inspire any confidence with Proactive does it. As to the S/P this will probably drift for the next couple of weeks until the BoDs funds plan is known. There will definitely be some dilution but by how much ?? That will hold the S/P down until details come out. If the board is smart they will issue some cheap interest convertibles rather than a straight rights issue. Let us hope the company does not issue millions of warrants either as some of the Oz companies tend to do.

There will be one which I suspect will be a private placement plus a rights issue but we have to wait until next month to see just what the BoD wants to try to do. If its like the usual the BoD will get their financial friends to push the S/P higher so they can then issue new rights stock at a discount which is a bit of old fashioned manipulation. Its difficult to call this one as usually what happens is the price then drops back shortly after any rights issue as surplus shares are sold off and if that happens you may be better off buying a week or so after closure of rights, as it could well be cheaper. The choice is yours.

Stew200 the Saudis will turn the taps down when about 30% or so of US shale drillers are in chapter 11 bankruptcy. That's about 350-360 so we have about 150 to go yet. Probably another 6 weeks or so. Then you should see a slow but steady rise to $80-82 which is Saudi budget price perhaps early Q3 for that. Meanwhile Saudi Aramco has for the last six weeks been increasing the price of Saudi blend to Asia while offering Europe a discount of $1.30 per bbl for Saudi light which is only 15% of production. Except for Iran there are no other discounts available. Saudi is also after the Venezuelan heavy crude market into Texas so is in no hurry to increase the price of that which is usually 25-30% cheaper than Brent. I am based in Bahrain so have good OPEC contacts.

This looks good on paper but read the disclaimer which clearly indicates OIP and recoverable somewhat less, as mentioned by myself yesterday. Seems from the well OPEX and CAPEX that they have costed in the present conventional horizontal drilling to come out at $45-50 per bbl, but if they use instead the new octopus system which is both fibre optic & computer controlled this cost should reduce costs significantly. It will take six wells per acre and is cleaner, quieter and cheaper so should help profits. The shale wells usually deplete at about 85% per year so you need to keep drilling new ones so the octopus will help with that also. The conventional wells deplete though at 5% per year so are much cheaper. We will now have to await the cash call presumably next month to get s clearer picture but my guess (and its only that at this stage) is $60 mln or perhaps a little more. It depends very much on the J/V agreement which is not public. Food for thought. !!

Yes I've read the Edison analysis (not report) and I'm not plugging any other shares as no names were mentioned but maybe in your anger you don't read things properly. I have several Edison notes on different companies and have to say that they quite often get changed depending upon the writer. The changes are sometimes up-grades and sometimes down-grades - take your choice. I actually take care not to push a share nor pull it down but you'll have to take my word for that. Meanwhile just calm down a bit as its not good for blood pressure. Finally I apologize if I have offended you.

No I don't hold 33.33%'of TPET but neither am I depressing the S/P can't see where I even mentioned it. When our own company lists I will be diluted to about 20%, but that's OK. I am an investor in oilco stocks and have never lost on any them simply because I understand what is going on. I have though lost a small amount on a pharmaceutical co because I did not quite understand it. It may interest you to know that Sky news has just interviewed the Royal Dutch CEO who said that non OPEC oil production will reduce this year while the market grows 5%. We all know what that means but the question is timing, probably 3-4months depending on Saudi/Opec being satisfied with the number of US shale oil Chapter11 bankruptcies which are now 160 or so whereas Saudi will be looking at 350 or so -,6 or 8 weeks. ?? Right now TPET will have P20 or so mainly because this is OIP not recoverable numbers which are P90 having been drilled & tested. My own company has P90 offshore Arabian Gulf 28api low sulphur and wax free whereas the Kenya oil(or gas) is 2.5bln bbls but its P20 so we may get 600mln bbls recoverable with luck.The other interesting bit is that the Shell CEO said that Shell is going into Alaska conventional oil and shale oil later this year so TPET will be in good company. You really should know what you're talking about pre launching into people who have no view re any S/P one way or the other. Hope this clarifies it.

Don't get carried away. !! That probably will be about 800mln bbls recoverable if you're lucky. I know a bit about this as am an oilco director and 33.33% shareholder. We may list in Frankfurt or London 2016 but only when in production (Arabian Gulf and later Kenya)

That was a sensible move as Morocco still flatters to deceive. Seems BoD is likely to look for something more tangible at a more reasonable cost. They should look at East Africa as Somalia will have blocks on offer Q3 2015 and there are at least two world class potential fields there. Plus Kenya and Uganda new blocks will be available Q2 or Q3 this year. Re the Irish blocks doubt this will go anywhere soon, if at all. By end Q2 the oil price should have stabilised as the Saudi budget is targeting $80-82 for 2015.