Member Info for fairdealer20

Buchan Alpha, semi-submersible production platform, was removed from field in August 2017 and finally dismantled at Lerwick in 2018. What is the cost of a replacement platform?

Ha ha Dick, maybe you could find a use for the handle?
If the Directors know the cost of restoring the producing infrastructure can you direct us to where it can be found? Not the cost of the FDP they are to prepare.

By the way have you found Sergie Skripal?

Could we(JOG) be in a Catch22 situation? Equinor know JOG needs them to continue Appraisal of Verbier and now has a viable asset in Buchan. Equinor have the where-withal and know it. Being one who criticised past events, mainly because as a Junior partner JOG had little option but to accept the working plans of Equinor, which was not entirely to the benefit of JOG's shareholders. Now JOG have achieved what was proposed, way back in 2015, to become a producer, the game has changed in our favour. Even though Equinor have the option and will drive a hard bargain, it is crucial JOG retain control and not disadvantage it's shareholders. It may even be prudent to have another Partner sitting on the sidelines, and dare I say be prepared to suspend further work at Verbier, depending on the 3D data due any day.

It would be valuable to hear cost implications from someone, who has knowledge, of resurrecting Buchan, which will then give a handle on Funding requirements going forwards.

Bamps majority of consumers want a good deal, supermarkets know it and when Lidl and co are under-cutting the Major stores, Tesco and co are cutting margins in the only way they know, squeezing suppliers. This is not going to change.

Take your point regarding pubs being a social venue, however it does seem this applies, not entirely but by and large to a particular demographic group who like a chat over a pint. The problem here is pub location, drink-driving........rural pubs,where one can find one, have a small clientele. In the last week I have stayed at pubs in different locations throughout the Midlands and East Anglia and apart from one, there were NO more than 4 drinking customers. The other pub is a theme Pub having outdoor facilities for Families and was busy, but come 9.00pm and apart from residents most customers disappeared.

MARS could learn from Amazon which have a disruptive but successful trading model. Some may remember Davenports Beer at Home......I can just remember. Not aware Marstons have a direct supply chain but would suggest worthy of consideration

Sorry Trent, Paulem, you have been robbed. at ASDA 4 bottles of Hobgoblin Gold, imo one of the best beers, are £5.

On a different note, Crowbar has stated several times how contracts have been cancelled after payments completed. Whereas the BOD have authority to make those decisions, it does display a rather cavalier attitude after all the Execs and Directors are there to protect Shareholder's interests. If it is claimed this was part of a money saving ( borrowing reduction) process, it should been foreseen before Contracts were created and certainly before money changed hands. If not competence is in question.
This issue does deserve scrutiny at the next AGM.

Privilege card conditions are being reviewed.

Mike apart from reference to a1m1, the substance of your 2nd paragraph answers the question, "poor form". Control is now with Institutions, Ordinary shareholders have lost out which as stated previously when resources are proven, as expected, Funds with the help of BOD could take the company private which would deny PI's enhanced capital value.

Poster a1m1 has been forecasting a Fund raise for months, something majority of PI's expected at some stage. You should familiarize with a1m1's posts which have "predicted" SP of 15-20p in June 2018 and now 6-9p. Follow his prophecies if you wish.

Oiler if we use your convoluted logic, do you believe Michael Spencer, who took up a huge chunk of the placing, will be flipping some or all of his holding? Remembering 5% of his holding was a side deal with Algy Cluff at 3.5p per share, which even allowing for the placing at 1.75p, his average is likely to be 2.5p at least. Apart from any agenda MS has it is very doubtful he will sell below 2.5p, which is above the option exercise price Nunn and Swindells have just been awarded.
Once Shell's programme is firmed up and additional Dewar is Farmed out, the SP will rise significantly. Funds who have taken up the Placing know the potential and risk is minimised. It is poor form that PI's were not allowed to subscribe too the Placing.

LW judgements made without facts are the tools of Traders. I am not a Trader.....there are many on these boards.
My post was, in essence, an opinion of how ordinary PI's need to approach investments in AIM listings.

Next week. Could be some very good news??

If many realised the ratio of successes in the AIM market, they would avoid. Most are probably influenced by hype from various pundits with talk of 5 bagger, 10 bagger, that illusive pot of Gold at the end of a Rainbow. Ordinary PI's are attracted by a " perceived potential" , initially and Funds take a cursory interest, until a Company's potential is de-risked with proven assets etc. The Funds then pile in with the help of Directors, achieving controlling Holdings which can and often do, leave PI's, who have funded the initial risk, with peanuts.
JOG came into being in 2015 on the basis it intended to become a Producer. 4 years later it still intends to be a Producer. The poor results at Verbier appear to stunned not only the Market, PI's, including Schroders, but the BOD who are not so forthcoming with a Plan. Possibly because as a Junior Partner the programme intentions of Equinor will dictate the future.

Your aspirations, ajax, for the SP going forward will be something most will relish...time will tell.

GB's clear disappointment/anger is palpable and a lesson to those who shares(AIM) is a very risky market, even when the Company comes good.

Scooby, would you within 6 months increase your holding from 6% to almost 17%, without an agenda?

Jez, guess you are on the Sangria again!! You need to get up to speed. The one and only, A1M1, The Sage and Soothsayer of Carey Street, stated just over a week ago the SP will be between 6p and 9p in a year or so. Fill your Boots!!
Did you realise Cluff have just raised £15m, which according to the CEO, the Illustrious, Mr Swindells, who incidentally has an avid fan in a1m1, will fund the Company through to 2021.

Do agree Algy Cluff would have obtained greater credit had he Sold the Company, it may still happen, however the Big Players hold the reins.

Jez, trust you are following the Prophet's very latest prediction. The SP will be between 6 and 9p in a year or so.

Is there more than 1, or 2 a1m1's ?

Swindells and Nunn are only able to exercise their options over the next 3 years ( 1/3 of the option each year) on condition the SP has increased from a base, by 33% in year 1, 66% in year 2 and 100% in year 3. The base price is 1.75p. In other words the SP must be 2.32p in yr 1, 2.9p in yr 2 and 3.5p in yr 3, before options can be exercised.

Most of us knew a Fund raise was coming, however sooner than many expected and engineered in a way I for one found disadvantageous to then existing Shareholders and ultimately giving power to Institutional Investors, which is a concern. A concern that as and when confirmed Hydrocarbons are discovered, the Company's value will increase significantly and Institutions will act in concert and take Cluff Private. Ordinary shareholders will then be left with crumbs. A possible way to prevent this outcome will be for Ordinary PI's to mop up available shares to form a Majority. One can be sure MS and others will be alert and doing likewise ( mopping up).
This is not a good scenario, I have witnessed it before with SWP.

One wonders how much Algy Cluff knew or even cared about what is happening with his Company. He must bear some responsibility as it was his decision to Employ Swindells and Nunn.

Could it be RG is flexing his muscles??

The Placing was fully taken up by New and Existing Institutional Shareholders, it was not Underwritten. If one or more of those Institutions have reneged it could well be the Bookbuilder is selling into the Market. Poor show really as Instruments should have in place to ensure Bidders were obligated. They did have a period of grace to complete their undertaking and is possibly why the completion dates have been changed.

It is estimated Dewar contains up to 272mmboe, lets say 50% of that is recoverable. Consider the field lies in relatively shallow water, is close to BP's infrastructure etc, what value can be put on 130mboe?
Gasatapeep that gives some sort of handle of where the SP should be at least without the ventures with Shell.

The SP is a nonsense

ajax interesting these sells have occurred since the AGM and the significant share increase by RG.

Food for thought??

Good grief Oiler, an asset is a tangible item, a chair, a table, a barrel of oil, cash in the bank. A Brain is only an asset if it has known and reliable productive capabilities. Do you want one?

How the hell you consider an asset is such if it produces income is beyond words. Have a look at Investopedia it will improve your cerebral capability.

You had better apply for a job at West Newton!