Member Info for Ibiza28

I think you miss my point. Yes on an on going basis i would love 7p a share but i am suggesting that we sell now and i think that with what we have plus the gas and a completely tidy house plus 14m ASD in the bank that we are worth 70p a share or approximately $1usd a share would be about right imo. And i would want 70p in near future for my shares to be sold than wait for possibility of them going £1 in two years. Yes i think we will find more than it would cost to find it but then there is the time frame involved. Personally i would take money from any sale now and run. But short term obviously i would want 7p but i think just a matter of sitting back and waiting now for next RNS and move.

Surely the question is would the proving up earn the shareholders more per share than they already might get. Would the additional spend plus time earn more with a further diluted share base. I think the company have proved up and tidied up quite nicely, the danger is surely they do not find any more dilute what is there even further and mess up your own house at the same time. I suppose the next stage is all exploratory and therefore still a gamble. Personally i would like something from a buy out now, Rather have 70p a share now than have to wait two years and maybe get £1 share. For me the risk does not outweigh the reward but having said that would have no option but to remain in.

Am i mistaken but i thought we were due COP court case news today maybe later on. Does any one know.

Personally i think there are far too many shares in this company for it to go anywhere quickly. Meander upwards. It will probably go over 3p during the week and then drop at the end at people start to take out their profit. This is really a traders share and not a buy and hold unless you have alot of money that you do not need use of. I am hoping that there will in time be other news. I will give that a month or so and see what other news there is and then think of moving on with shares i have got. I still believe there is something else brewing as i cannot understand why we have done all this housekeeping without a plan in mind. If there was an interested party and now not interested or gone cold then that would be unfortunate and puts back at square one but with some real potential. As regards massive dilution by means of a placement i am not sure if ASX rules allow it.

Update just come through on Hotcropper.

https://hotcopper.com.au/threads/ann-umiat-oil-field-update.6202070/

Do not be surprised if we do not get news tomorrow morning it will very possibly Wednesday morning after the COP court case hopefully has a conclusion. Personally i think it has been delayed for this.

Maybe this is just my wishful thinking but i think there is a lot more to this news than just news so to speak. If it were bad i am sure by now we would have had the news broken to us. Also if the news was equivocal ie good in parts i also think we would have had. My thinking is this news is good and they are trying to line up the next move as quickly as possible to put alongside at approximately the same time. Some how i just cannot help think that the delay is good news but having said that i am in for enough.

Obviously imminently does not mean imminently at all but very soon or fairly soon or more accurately when we are ready. Do not be surprised if they results do not come out till Monday....

I go along with the line that we have gradually been preparing ourselves for a takeover. To me all the indicators have been there since February but more so over the last month or so.
We have been polishing up our assets or at least making them far more presentable hence buying out 50% Peregrine and move on Umiat makes the rest of our assets far more attractive if there is no danger of border disputes.
Then there is the sale of the tax credits and instead of banking the cash we clear the balance sheet of debt (other than normal trade creditors) again a matter of making the house in good order before a sale.
Combine that with the fact a busy oil exploration company with a number of wells around Alaska loses its CEO in February. There is no attempt to head hunt another oil man no we go to our CFO who happens to be well versed in M&A#s in the oil business.
Plus a lot of creditors on the drills took shares instead of cash
To me everything points that way let us just hope that i am right. Nothing new what i have said Stocktwits have said it all far more eloquently.

It really cannot be 5267 metres that is over 3miles below the surface. One hell of a drill. Must admit i read and re read the piece and i do not remember seeing anything about water or mostly water either. But there again i might have missed it. GLA

Personally i think this news of the results and a buyout or JV partnership will come together at the same time. This share could do anything in next few days or so. Down 50% or up 2 or 300 %. At the moment it is a bit of binary gamble. Not much point in coming out and losing money when results come out it goes to 1p from 2p or 50p give or take. I have not got so much in that it affects me but i am sure if the right results come through it will do me no harm that is for sure.

Does anyone know where the RNS when it arrives is likely to arrive first. Ie Aus because they are the primary listing is or the US because that is all the drilling has been and probably the testing or even over here because it is London.

Seems too high to be a sell price yet too low to be a buy price so really cannot tell what it will be.

Personally i think they know the results already and if they had been bad they would have been released and the share would have plummeted to below the 1p. Now i am a kind of glass half full guy so i think they are holding back on issuing results at the moment to coincide with other news as this is incredibly price sensitive and the share could sky rocket on the news. My reasoning on this is the announcement that at beginning of August we get the announcement of new Non exec chairman, a COO and another geologist on to the board. Somehow i do not think they would have done this if the results had been equivocal or uncertain or bad. This was done at the time that we were expecting the final results beginning of August. Now the question is what does a non exec chairman and COO do in a company with plenty of assets, no debt but also little cash (Cash used to pay off long term debt). Unless there is a major shift in policy the company has been positioning its self for a sell for some while now. Be patient the results will come and they will be good. How good is anyones guess.

When the news comes when ever that is tomorrow Tuesday next week. Let's not over react. It is possible that not all the results will the positive. Some might be below what we hoped for and others might be better than expected.. I would want to wait for the opinion of those on here with experience of oil drilling and or geology before making a decision.
Personally i think regardless of the result there is something going on in the background the manouverings of the company over the last 6 months indicate this and the latest appointments now indicate something although i am not quite sure what. If we are about to sell i am not sure why we need two scientists and a COO on board. I would imagine that would mean carrying on ourselves, but then when we sold the tax credits why not then bank the money instead of paying off the debt. An oil exploration company without needing money is something new i would suggest, unless we will not be exploring or drilling any more!!!

Thank you had completely forgotten about that. I remember now something about new unexpected depths and i think multiple reservoirs or am i mistaken. Assume more will become clear in next RNS i assume.

Does anyone have any idea as to how much oil we actually have claim to. From i can tell there is 1.636bn from Merlin and Harrier and a further 94m from Umiat at the moment at the moment but i am guessing the latest results when known may well up date these. Are there any other reservoirs i am missing. I thought i heard mention a 3.4bn find but i cannot find any mention of that anywhere.

Slightly disappointing video was hoping production would start March rather than middle of the year. I am going to stay in and wait certainly for now. One thing i am certain is that this company is worth more than £25m. Just for the moment the shares are in the bottom drawer.

what are peoples thoughts on the near and long term future on this would be welcome.
The appointment of a COO and two further geologists is very positive. They would not be doing this if the results were not expecting to come back negative or even equivocal. IMO the results are going to be good.
However the appointment rather rules out being taken over and seems to point to going it your way drilling which for a short term result is not good. The long term maybe brighter but how long term and will the markets allow us to reach those levels at least with a takeover you know what the price will be. Maybe less but sometimes a bird in the bush is worth more than two in the hand.
So question is do these appointments preclude a takeover or do we sell on part of the sites for royalties etc or do we drill ourselves or do it the JV or all of the above.

This all depends i would rather hope they will do a buy back of the shares if they get a reasaonable amount and do not sell the company as a whole. Assuming they sell off some of the licenses for fee plus royalties then who knows if enough. Keep some for Future drilling, maybe a small dividend and maybe a capital repayment but personally i want a buyout.

No idea but expecting to be a lot better than 2p that is for sure.