Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Likely to reconcile around 4.75p - 5p for next couple of days before the next leg up leading into start of mobilisation and then its 10-14 days until spud.
Now expecting 6-7p here before spud. First potential oil shows within first 10 days of the drill. 88e to provide periodic updates throughout drilling
Why haven't you been averaging down over the last 6 months in the 2p range? Funds.
If we strike you'll be in profit. Looking for 30-40p here on a strike.
Its almost as if with regular updates it becomes difficult to post conjecture...... Some people don't like that. Wonder why.
Good to hear the drill is on track
Not forgetting that 3D does not cover the whole licence area, specifically the south/West & South/East edges where the anomalies are prominent on seismic. Given this information, if successful considerable upside would be presented
100% agree with that. Some commentators on Twitter indicating they wouldn't value anymore than $0.5-$1 upon discovery on the basis that further appraisal drilling would be required. Whilst I agree further drilling would be required I come at this from the value proposition to Oil Search & partners further enhancing the economics of the Horseshoe development. We already know the access to market is favourable another reason used on twitter to down play the potential value.
For me the excitement for this well stems from the previously drilled well on our acreage which flowed oil to surface although deemed non commercial which with modern 3d seismic has since shown was drilled in a location without anomalies synonymous with Oil discovery's in the nanushuk.
This will rocket on the way down on oil shows which seem inevitable given the information on hand provided by Horseshoe well and well on our acreage.
30 days estimated
Perfect summary Boom. My thoughts exactly. Were on the potential cusp of a transformational period for the company and were focusing on a drilling program back in 2010 in a volatile country (Somalia) and undeveloped oil basin.
Have you even looked at the asset to be drilled in February....
10 bagger if we find 400mbo yeah I'd be disappointed with anything less than 40p. In terms of safety the rule is generally don't risk what you can't afford to lose. These types of drills don't come along often so you have to look at the risk Vs the reward. The reward here for rmp is massive
I agree, everyone is different I guess but just thought I'd bring some context to islandgirl's issues.
I was in rmp back in puntland days but I'm back because this asset is too big to ignore and a great chance for us all to make some serious money. You don't get these all that often on aim. Not of this quality at this price.
I can vouch islandgirl is not a paid deramper. Just someone who has been around rmp for a long long time. Used to post many years ago more positively about rmp. Just been burnt before, this drill looks like a different beast though to assets rmp have had previously which were complete wild cats in basin opening plays. This is in a region synomous with oil and 3d defined prospect 4 miles east of 1.2bb discovery.
Boom, Probably a slightly more robust valuation would be the $3.1 PBGV oil search (However In their presentation packs they do indicate they feel this was extremely good value) paid to buy into the Armstrong and Repsol project round the corner. This still puts RMP in the region of 60p on success.
Its still the bench mark for us though and would be one hell of a return from 3.5p
Gla
Sorry Timetoact, Didn't see the question
I got my information about the 1972 drill by ARCO from the below link
http://www.petroleumnews.com/pntruncate/24872661.shtml
If you then start searching for "Itkillik River Unit No. 1" you can find some more information regarding location of the drill etc
You can then look through the 88e presentations to see the location of the 1972 drill in relation to the 1/1a Horseshoe well and the Stoney Hill Discovery
All rather compelling evidence we'll at least get some fireworks on the way down to spark interest, Whether we have commercial oil is the question here in my opinion.
Same Happy, Bought most of mine at sub 3p and I'm happy to hold them for results. Chance of success publically 30% but internally it will be considerably higher given the recent discoveries.
Backed up by the 1972 drill on our acreage (Which modern 3d showed was drilled in the incorrect area) flowed oil to surface just not in commercial quantities.
2.8p 100m shares.... I was close lol. Do I get a cookie
It's a positive imo. It would have been reckless to go into the drill without future funding place. Hopefully as I predicted 100m at 3p however we know the market likes it's piece of flesh so I wouldn't be surprised if it was lower. Good luck all
8m Australian dollars which is about £4.5m. I still think a raise is coming the timing will be interesting, do they have supreme confidence in the asset? As not to raise and failure will be lights out. I'm invested here and would welcome a 100m raise around these levels to shore up the balance sheet. On success it will have minor impact on returns
It was reported an hour late and the mid price had moved. If it had been reported as executed it would have been displayed as a buy.
Your trade has now appeared disguised as a sell
Agreed Jon, A placing needs to announced asap to avoid any hangover going into the drill. 100m shares at 3p would be welcome by most I'd imagine as it limits the downside.