Member Info for Helpful

Good, glad to hear it. Is there really any need for personal abuse to get your point across?

In meetings now and then travelling so no time to play.

Again if you have useful information you want to share, lets have it.

I know about the Ukraine deal, I looked at it along with a couple of other deals. I said no to the Ukraine deal. I have not heard back from anyone who is in it about what has gone on except DK reckons it is going very well.

Quite how a deal that is nothing to do with Mayan should be taken into account when discussing Mayan is beyond me. As to his dealings with Mayan, he is a consultant, he is not a director. If he has a conflict of interest it is not an issue for him because of his status.

When the Deloro/Petroteq deal came up, I knew about his status and the relationship to Mayan, Deloro and PQE. What's the big deal? As to people saying that Eddie brought the Deloro/PQE deal to the table, it was DK. David was involved with PQE as a consultant. PQE uses one of his solvents and he brought the cavitation technology to them.

In my view, and I probably know more than most, Mayan will do well out of Deloro/PQE. We would already be at that position except for some crazed hippy/greenies who make up stuff and then want it investigated by the regulators.

I hold Deloro personally and am quite happy how it will turn out.

DYOR

Well you obviously know a lot more than me: I bow to your superior knowledge.

Why would CW have a terrible reputation if he is UK based and little involvement in the US open the US operations? Genuine question?

Well you obviously know something I don't: do tell.

Why does production cease on the 12th?

Yes but they adjourned the AGM on the grounds that there would be board and management changes.

Those changes and what is happening about them is inside information. Until it is in the public domain the insiders are restricted, as Align have indicated. The company has written out to the insiders confirming that they are still inside and asking them to confirm that they understand this.

I am inside and have received the communication. We should all know a bit more next Thursday or it could be before hand. Either way it will out shortly.

One thing I can say because CW said it at the AGM in the question and answer bit: the break even figure was 80bopd including all costs at $65 oil and $40 netbacks. So they were providing for $25 per barrel costs and overhead. The price of oil is now $75 so the net back should be $50 (most costs stay the same except for state taxes). If that is right, it has the effect of reducing the b/e figure to 60bopd.

Do the numbers on the update. Fine, the production figures will drop back a bit after the "flush" is done but it seems to me that based on that RNS the company is above breakeven at the moment. It might not be in a few weeks if it doesn't get the workovers done. I would hope that they can get at least one Austin Chalk well done this week.

None of the above is inside information it is in the RNSs and complies with CW's public comments.

DYOR

That was from a few days ago and has been reissued.

Interesting that he comments on the sand having no emissions. FFS what saddo raised that as an issue with them?

They can't trade. They are inside and if they did trade they would be in serious trouble.

https://www.cnbc.com/2018/10/01/oil-prices-opec-powerless-to-prevent-prices-surging-to-100-a-barrel.html

Well it looks like NH will be pretty bad. Early snow in Austria and Italy. NW Italy deluged in hail storms yesterday. Speaking to someone in Canada last night and it has turned cold early there too.

$75.50 and heading north.

CW confirmed that was all costs, including operational costs.

$73.46 heading to $80.

Break even at 80 bopd based on $65 WTI and $40 netback. Break even bopd just got a bit lower.

Again, I see some people don't understand commerce.

Steelmin has a value, it cost RRR nothing (in fact they made a profit on the transaction when the loan was repaid). If it gets sold and the return is say £2mil net of debt then RRR gets £440k. Unless Steelmin is worth nothing net of debt then RRR will have made a profit. It would be better if they sort out their issues but nonetheless there is upside there for RRR.

I was hoping that they could sell it in better circumstances but there is no downside here for RRR only upside.

£440k profit on a 12 month trade costing nothing would be pretty good in most people's books.

Hopefully, they sort it out and get it going properly again. Fingers crossed.

DYOR

Standard stop loss action: price drops, triggers the stop loss, that moves the price down, that then triggers the next stop loss and so on.

On the way back up now.

https://www.investegate.co.uk/red-rock-resources--rrr-/rns/update/201809280700102573C/

www.globaldashboard.org

https://www.bloomberg.com/press-releases/2018-09-27/petroteq-reaches-commercial-production-milestone-and-publishes-statement-from-the-ceo

https://www.google.com/amp/s/www.fairfieldcurrent.com/2018/09/26/petroteq-energy-inc-pqe-director-aleksandr-blyumkin-purchases-336871-shares.html/amp