Member Info for eegbvi

Administrator indicates Rame will within a couple of weeks be recapitalised and then relisted asap thereafter. If so that's one major headache gone for Pires.

Looks like a recapitalization is on the cards within about two weeks if agreement is ok. Relisting shortly after that, but probably at a discount to previous SP

Does anyone have any idea what other assets Rame may have left to sell after the Chile deal ?? Clearly not much as if it did the Administrator wouldn't be considering leaving the field. All views are welcome !!

So far ok !!

Should be to say how asset sales are going. If Administrator gets good price Rame survives, if not its the Bankruptcy Court.

I stand corrected then but Mandalay seems to be the interested party now with a cash box of C$32mln

Next week should get interesting with the Administrator talking to Mandalay. Hope its settled quickly so we can move on. With luck Mandalay will offer what they were committed to already as a minimum in the JV. I suspect there will be eventually a relisting at about 5.25p plus perhaps a rights issue.

Well all going smoothly for former JV partner Mandalay (typical Canadian Pakistani outfit) exclusive for Chilean deal at a lot less than your previous commitment and 100% of it this time. Have to hope they pitch the bid too low and the Receiver tells them to take a hike. Guess Rame may get $1 mln back with luck. Anything more the Receiver deserves a medal.

Early this year, even by TRP standards. My own company six months ago offered them a small producing oil and gas deal. Cost $3mln for guaranteed $3mln pa net income for many years more now with higher oil price plus two P50 onshore exploration blocks with about 450mln bbls possible. Once they realized it may even cost a few BoD places they didn't even show up, indeed one member was looking at bluebells with his wife. Says it all really about the lot of them

If he has it right it's pure guesswork. What is certain is next week normal service will be resumed after the Rame fiasco..

Yes the temps I mentioned are shade ones. In the sun its often 63+. Basra is the hottest place in the Gulf and by mid Jan the coldest at sometimes -5 to -7C with occasional snow All the Indians will start wearing 'biggles' headware end of November.!!

Topped out last year @54C against 57C in 2014. Should soon start to cool into Sept which is usually about 90% humidity though. Then you get some decent weather pre the November heavy thunderstorms. You know its very hot when you feel your blood starting to 'prickle' in the veins. Dec-Apr is usually very nice though. Have your blood pressure checked regularly also as heat stroke can be very dangerous. Good luck. !!

Pires needs Rame bits like a hole in the head. If Pires carries on with wind farms better it picks up Rame's senior technical people and injects them into a new SPV together with other first class track record people in that business already.

I get a lot of general information from friends at Aramco and QP as I visit them plus ADNOC quite often with useful snippets from a couple of the Oil Ministers in the Gulf from time to time. Not always accurate of course but usually quite good. I can say with some certainty that US shale is no longer in the race and Putin's Russian output is starting to fall leaving Saudi to fire on Iran and its proxy Iraq. So we're getting there.

Welcome to the Middle East travel club. Done it all myself over the years. Welcomed it while living in Riyadh but always refused Baghdad and still do. Now I pick and choose though rather than be told. Not wild on the Emirates flights though as its grown too big too quickly. Qatar Airways is good as is Oman Air. Good luck, just be careful with Seychelles airport as that's hairy.

I am most certainly not blind to PMO's problems. Know about most of them plus the possible solutions thereto. Their first key is $55 for crude and work from there. As to FIG it moved a lot quicker than expected which is good lets hope its new block awards are also sooner than expected.

Not quite sure why you keep on hammering about NBL which has its own problems with Leviathan Israel plus US shale oil. This one will more than likely be settled in Whitehall and Downing Street. Either way it should move NFB forward positively. BP is rumoured to be looking as it needs a lot more crude.

Doesn't need to bother simply pick up the best of the Rame technical people and inject them into a new SPV with people having a clean many years track record. But the Pires BoD may go off in a different direction with perhaps a not so good result. Their choice.

Snookered by Mandalay Resources Canada which raised C$39 mln cash equity last week but instead of injecting some of it into the JV with Rame in Chile as it should have done chose instead to hold back presumably to get the whole project cheaper. Never trust any Canadian minerals company !! There is a much better deal than that about, cash and profit positive if the Pires BoD picks it up. No guarantee with that bit though !!

Its not Receivership yet so there should be some assets presumably. Suspect this is all a hard-ball game starting to play out with Mandalay Resources which probably stands to get its hands on the entire Chile project on the cheap instead of putting its cash into it. Never trust Canadian mining companies, almost all sharks !!