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SI10............ "Impetus", in the most energy hungry country on the planet. Commercial flows here and no-one invested will look back. And that's before a possible acquisition. The big (enormous) hitters on the BoD aren't here to just fill their time till retirement. Stopping in here as I just don't see it not making me money. GL
Evening Big. This will be taking off soonish imo. Others will too as you know. September looking like it might be alright mate!
First invested here about 18 months ago.....well, in LRL. met PA and what a charming and charismatic guy he is. His enthusiasm and belief in the ZJ gas project is what kept me invested thru the sp slide and I can say that I am thrilled I held on and have been topping up recently.....in LEN of course. The BoD is exceptional quality and this will get very exciting any time soon. Another no brainier on AIM.......cash in bank>Mcap. GLA
Revenue streams of £18m per annum (Pounds NOT USD) and a claim being made for £50m (again Pounds not USD). The upside here could be absolutely massive!
Hi all. Bought on impulse after seeing todays RNS. Know sweet FA about this company really so any guide on short term potential would be much appreciated but understand if you can't be bothered. Good luck either way!
Trade, Angry, me? nope, sorry you got the wrong guy. Got in KDR below 2p and happy to hold. You posted an inaccurate comment stating the company is so desperate for cash it placed at over a 100% discount. The placing price will have been set long before KDR took off, which you didn't seem to understand. It opened sub 2p on 31 December, so lets say 4 trading days. I think the point is made, cheers. And, yes, I shall indeed wait on the board where I'm invested thanks, only you are the one who raised the issue on this board, where I am also very happy to be invested and remain very confident. And I'm afraid that I'm not "so full of crap". Just wanted to put your inaccurate post right. Sorry for the O/T guys and delighted to see GRL bouncing back.
Sorry for the O/T, but had to pick you up on that post. Absolute rubbish I'm afraid. It was only three trading days ago that the SP was sub the placing price. How long do you think a placing takes to organise...just a couple of hours??? Nothing desperate about it. Just wanted to put the record straight. Re GRL, nice one to hold until news. If news hits elsewhere first I would think some biggish money will head our way. Maybe even later today from GWMO.
possible precursor to a "conditional sale of our 600k oz" gold asset??? Time will tell.
Nevermind. The moment has passed.
Guys, Trying to get a few more of these. Why only NT available???? TIA
Per BM (III Q&A).... "we have BIG producing zones to work with" "The potential of the productive zones is VERY large" Not mincing his words is he?? GLA
is MASSIVE. If it is assumed they can make this beauty flow (it's an easy work around per BM) and the updated CPR uprates the Recoverable Oil to, say, 100mmbl (we have lots of oil per BM), then the SP will sky rocket imo. Assume a T/O price of $20/bl ($25 - $40 per BM) that equates to £12.50/bl or £27.77 per share assuming 45m shares in issue after a bit of dilution for the Bod and Treasury shares. The SP is currently sat around the £1.30 mark so a multiple on todays price by a factor of 21+. And that's only based upon the (hoped for) recoverable from one quarter of our total leased area. HAPPY DAYS INDEED!!!! Many thanks to Bamster & Colon (and also Myteron & Investor Prime) for some great posting. Concentrate on the facts everyone and dont be distracted by the innane negativity peddled by those with no life but selfish agendas who want to do nothing other than damage your investment imo. Onwards and upwards please Mr.McD.
Sure will Bawbag. Stick a few more 0's on there and it'll sort the Christmas credit card bill aswell! Can we have some news please Mr. McD?
Just to make sure certain postings by another dont muddy the waters on this subject, I have the Q&A in front of me and thought maybe you would appreciate seeing again what was actually said. The relevant section reads as follows: Q.Do you not think it would be more pertinent to move to Eblana#2, which was the declared larger target, instead of potentially wasting funds on Eblana#1 that could still provide a negative result? A. No. We have producer zones. That is what a drill is trying to find. Straight question and an emphatic reply! The bit about adjusting targets was very clearly said in the context of the order in which EB2 and EB3 may be drilled. Indeed, the question referred specifically to the drilling priority of EB2 and EB3.Oh, and by the way, what BM actually said was "we may adjust targets SLIGHTLY". Wonder why that last word was left out of the posting? Did it not suit the posters purpose do ya think? A bit like ignoring the fact that BM was asked the direct question above about moving on to another drill instead of completing the testing of EB1. Just posting this as its important that references to things said should be complete and in context. Cheers all and enjoy the rest of the weekend.
Apologies, meant to ask, presumably you are not invested? Assuming not, and I ask this genuinely, why do you spend time here?
Hoper. Thanks for the reply, appreciate it. We clearly have a difference of opinion on this and it appears a major part of that revolves around our level of trust in the BoD. BM has explained why the original CPR wasn't published in full and I fully understand his reasoning from a strategic point of view. The covering letter from FG&A was sufficient as I am sure a professional firm like that would not have issued the covering letter they did if anything in the full report conflicted with the contents of that letter. What do you think they may be trying to hide? Since that letter they have done a lot of drilling, agreed. They have also discovered A LOT of oil. If you believe the CEO. I do! Oil did flow to the surface but not consistently. CEO says its "an easy work around". Work has been paused to analyse the large amount of additional data collected and design the next part of the testing...presumably to optimise results (and therefore value). Doesn't sound unreasonable to me at all. Company funded for completion of this testing and next well but will be reviewed as things progress. So, not run out of money. Pursuing certain individuals for libellous comments which damaged the company.....damn right! Did you read any of those posts? Not the first company to do this and far from the last IMO. Last 2 RNS's downbeat. Well I would certainly agree the mid November one could have been put better but it was quickly followed by immensely positive audio interview & Q&A. Interesting that your perceived downbeat nature of RNS's happens after CA's appointed. It's their job to be ultra cautious so more than a coincidence IMO. Hope I have responded to all your points and thanks again for the reply. You may or may not agree with some of what I say but good to swap points of view and remember.....we have discovered lots of oil, they will make it flow and we're in the perfect market place. Get in while you can at these give away prices. IMO of course. Cheers.
Hmmm. Really Hoper? Would be very interested to know what you value the share at and how you arrive at that valuation. Always good to share opinion and understand others logic. I don't agree with you that this share is "way over valued at present" but am open to alternate views.
Wiggy, many thanks for the replies. $20/bl would certainly do for me given the volumes we potentially have and understand why you would use the higher figure based upon our location/infrastructure/demand/security etc. etc. After a drink or two at the weekened I sometimes dream of 250/300mmbo @ $40/bl. Can almost picture myself on that beach.... then I remember about all the money i've got stuck in RMP and come back to earth with a bump!!! It'll come good one tho! Thanks again.
Good Afternoon All. Some news would be good, eh? If paint dried this slowly Van Gogh's first masterpiece would still be wet!! But hopefully it will be worth the wait when it arrives. Was wondering if one or two of you could fill in some of the (many) gaps in my knowledge & understanding relating to the updated CPR which has been commissioned. The company informed us about the first CPR being commissioned in early December 2011 and it was finalised in late Feb this year. So, say, two & a half months or so. Any ideas on time frame with this one? Then I was wondering why the updated CPR has been commissioned now ie. before the testing of EB1 is finalised. Wouldn't it be a more complete & acuurate report if it was done after what further data the company collects during the forthcoming second phase of testing was also available. From my understanding, the main headline of the CPR will be OOIP and recoverable oil in the first tranche of acerage we originally acquired as no meaningful survey/testing has yet been completed on the second tranche acquired. I assume the new CPR will not include anything on flow rates and on that basis maybe sufficient data has been collected at this stage for the report. But then I'm thinking, they didnt test the shallower intervals so presumably they have little or no additional data on this section. Wouldnt you want that info for the purpose of this CPR? Finally, the covering letter to the original CPR stated net recoverable oil of 67mmbo with a ten year discounted NPV of USD514m. That's c$7.67/bl which is some very considerable way short of the $25 - $40/bl which was quoted very often on III board in the past regarding take over valuations. How does that work then and did BM actually say he would expect $25 - $40 on take over? Any help from any of you with the above would be most gratefully received by me..and possibly by others who are here either now or in the future. I would say that the very fact an updated CPR has been commissioned now can only represent very good news imo because why on earth would they do that now if it wasnt going to be a significant uprating. The company know what they have and how much, the CPR is merely the "auditors" agreement to the company's own calculations, which adds great credibility to the numbers and is also a requirement of the US Exchanges in terms of "booking" the reserves to the Balance Sheet. Anyway, very many thanks for any help with the above queries. Best of luck to all.
RigSuper, excellent post. Many thanks and good to get the day off to such an optimistic start. I still think it would be preferable to have the ADR's in place before EB1 further testing results but, quite honestly, if it all works out as you suggest, I don't think I, or anyone else will complain. Sweet light crude will definitely be the icing on the cake as you say. We live in very interesting times!