Member Info for Ibiza28

How much oil do we have there to extract. If i read properly just 33000 barrels which does not seem very much so i am assuming this is wrong. 33000 surely just would not be commerical. I am asking about what has been found and proven not what might potentially there and to be explored.

I love the idea and £1 -£2 a share would be lovely and as with some people would mean a happy retirement but some how i doubt it. I do not know much but always thought the Mongolian government was trying to retain its independence from its two or three big neighbours. China, Russia and India and the idea of having its major oil producer sell off to effectively the state owned oil company of china i think is unlikely. Hopefully the licensing committee meet early and approve this soon otherwise we are looking at 7th June would be my guess.

At about 1.00 this afternoon i was in two minds about selling a few thousand thinking that the share price might fall lower but was only offered 8.09 and decided maybe it was as low it would get so bought a few more instead. How wrong could one be.

i topped up with a few more as well but obviously got in a bit too early by looks of it. But i am in for long haul and am not worried too much as i feel sure that we are going to multiples of this price before very long. But the longer it takes to get the EL the longer this is going to fluctuate. IMO

I really thought this would be through 9p and well on way to 10p today. Obviously will have to wait a bit for that.

That should have read Monday 7th June not 17th June which is probably not a Monday at all.

It looks like the Oil and Gas licensing committee in Mongolia meets once a month to discuss the issuance of licenses at a guess. The last two RNS's have come a month apart so as we received up dates on 12th April and 10th May the next one logically will come around Monday 17th June. The committee looks as if it meets on the late Friday afternoon or first thing Monday morning of that first week in the month. Here's hoping sooner but logic would dictate.

Thanks very much very helpful and informative. I know markets move upwards on more buyers than sellers and vice-versa what i am not sure of as i have never been part of is when there is a short supply of shares. ie There are buyers but no one wants to sell. How does the price go up then. At some point everyone has a selling price and that would determine what happens if that selling price is above what someone wants to pay for it. How would the market reflect if it reflects it at all what a deemed Selling price should be. It is very possible that the free floating shares here could get taken up very quickly and with other shares in sticky hands i can see very few shares remaining on the open market. I do not know the percentage of free floating shares 2021 against the free floating shares of 2011 as someone bench marked that date a few days back.

We should be getting close to our first set of results. Are the company likely to accumulate them all and release all in one go when they are all in or let it out gradually. If let out gradually first due imminently otherwise another couple of months to wait at a guess.

I always felt it would be this way a relatively low number of shares in issue compared with many so a small volume once we had rinsed out most if not all the MM's was going to have this affect. Wait till the big boys come in post EL approval i would really hope to have some rocket injection i would not be surprised if it doubled overnight on EL approval. Let us just hope it is not too long because if it does take time the fizz might got out of this share and we would have to start again so to speak.

If pigs fly and there really is a yellow brick road or in this case an oily black road the short answer is no. The rights issue is obviously not being taken up. The shares will go out to placement and will not get taken up till there is some serious good news not just a few additional barrels of oil from Saffron or Trinidad. Then we might see this move.
This has not just badly handled it has been appallingly handled by the board.
If back in September they had come out said "Look we think that we are fully funded but just to be sure we are planning a rights issue of 1 every 100 shares and raised the money in one go and still set a CLN as a contingency" Then i think that many on here might have taken them up but no they cut off all avenues end up with a bad drill that mean a fully funded well gets you 80% there and what makes it worse i fell for it all. Some on here questioned very closely the fully funded part and the other methods of financing in place. In the end we were screwed by our incompetent board, a vexatious legal claim and an ill timed attempt to raise money with a company that i believe have noted they are going green and then off load everything at the speed of light. We were trying to raise less money on more shares being issued because the SP was falling every five minutes. I still have a lot of shares in and quite frankly they will stay in bottom drawer until hopefully a farm in or Geneiss finally come to the party because at the moment i am starting to wonder what the hell they are meant to be doing.
If Geneiss had come up with something i think we would have heard by now. So now we are raising funds desperate to prove we are a going concern. The only problem the CEO has left but actually no he is still there. We just have a new puppet in charge except the old puppet master is still there. I am guessing but take up on the rights issue is minimal reason everyone put there money in at the beginning and run up and not now. It might have been different if they had done the consolidation first with the announcement of any Gneiss deal and then done an RI if there was good news but not now. Now are ripe to get taken over or just wait till we are no longer viable.

What are people projections for share price here assuming no major dilution and oil at >$60pb and of course the EL is granted before end of June for say the beginning of winter period here ie middle of October or there abouts and then again end of April 2022. All i know for certain is that 6p is way too cheap for this share for what we have plus what we may have. Personally i would hope for a sharp rise to around 20p then flatten out a bit and then with drilling a rise up to possibly 40/50p. I mean is 350m MC ridiculous for a company with our barrelage.

I have been going to Ibiza for years man and boy and when my parents needed to get a tradesman or something delivered back in 60's and we heard the phrase manana manana we would shiver. It is meant to mean tomorrow morning but started to mean the never never. Now when we say Manana Manana we know they mean tomorrow morning and unlike England when they give between 9.00 and 13.00 they will give a time and keep to it.
Somehow i get the impression this EL granting is similar in that it will take time and nudging ( a lot of it) but it will come but in years to come it will happen almost overnight as i think we are guinea pig western company for Mongolia to get its practices around and people learning on the hoof so to speak. I mean how many exploitation licences can they have to grant. Probably one body covering umpteen areas and they look at exploitation a bit like my glass collection down here every last Monday in the month. In future they will have plenty of days in the week to review exploitation and a dedicated department.

At the moment i am not too worried about the share price. If it stays low and the RNS hits in near future i will jump in and hope to get a few shares just before the sharp rise that would come knowing it is safe. Alternatively i wait it out get twitichy feet toward the back end of the quarter. I just hope second quarter does not mean last week of June or dare i say it 1st week of July that would be too nerve wracking and this share could well go down significantly if this EL gets delayed much beyond that. Just hope not lets get this RNS out ASAP please.

I think that the MM's have decided what their price for this share is until the EL gets granted. The current SP is way under what i would expect it to be but then what is this company worth without the EL. I think we are all sure it is coming otherwise why are we invested and when it comes this will be a major jump from current levels. iwonder if there are some shareholders who hoped that the weekend might have seen some news. Personally i have more than enough shares and ideally would like to off load some before hand but not at this price that is for sure. But if the EL comes before i off load i make a lot of money but with a big tax bill. If no EL then we all end up losing money i would guess. Whilst this period of limbo extends on then the more the SP will wonder around. The quicker we get the EL the quicker this will shift very quickly upwards plateauing out at some levels.

I am not trying to make any point about reserves and i do not claim to have any inside knowledge on how to value this other than work it out. I believe we are currently well undervalued assuming we get the EL and i believe we will, when i have no idea, As an earlier poster pointed out it was valued at 1.75p per barrel on his calculations and i am not going to dispute that. My opinion is this is still a very low share price because we are if you like breaking the mould in Mongolia ie first outside eploiter coming in as i understand it so therefore rest of world looking on with interest.
Assuming EL comes through then the real valuations would come through and i would hope/expect share price to at least double on release of RNS granting EL. After that another rise on news of Farm in details and exactily what we are exploiting etc. Personally i woudl settle for 40p per share but if indications are right about the 2bn barrels as reported here and mentioned in an RNS then £2 a share not impossible of current shares in issue.

I do not think any one does not know this Share price is well undervalued and D1nger post really highlights how far undervalued we potentially are. And the undervalue is not because of Resources over Reserves but more of a will we won't we. Normally i reckon that if was a 7bn Share issue and not 700m i would be waiting on the side lines and try and get in when the RNS was announced but i am in for FOMO when the RNS comes. IF you believe like that the RNS will come sooner rather than later then yes this share is going to rocket on the RNS and maybe even a bit sooner. Personally i would love to double digits in near future it means i could get part of what i want done and still leave a decent holding for the rest of what i want to do. At the moment i have got a kill or sale order for next week of 6.5p which i am now thinking of cancelling. I will be looking to be out of my original investment and leave a substantial holding behind by second week June up till then we or rather i play a waiting game. GLA

I have sold out a part of my holding realised the loss and put it else where. The loss will come in useful to offset against other gains. This rights issue i do not beleive will get fully subscribed and the rest will be put out on he market. There will be a big over hang from the placement until we get some news. I do accept that almost any news at the moment would be good news but to shift this over hang it going to need to be smoething special. So i reckon on coming back in later on when i see something positive that is going to shift this share price significantly. Mind you there is one that i think that could shift this share price significantly and that is Potter leaving the board altogether.

I do not want this going up too quickly to avoid the MMs playing the stock. There is enough of that with this wait as it is. 6p by close tomorrow would be good then maybe a rise up through 7p next week and hopefully 8p week after by which time we should be close the estimated date given by some of 17th May. Am not sure where that comes from but suits me infact tomorrow would suit me. Minute EL granted we could do 50% jump and then flatten out till next news regarding farm in deal then we wait the finance raising. I am here for one thing only and then i am out and hoping to be done by March/April.

I have been running through a few calculations and i reckon we will be at 10p very shortly after the issuing of the License until then we will be up and down like a yo-yo i would guess..
My Calculations are at 100% owned 33m barrels to exploit at a price in ground figure of say $3 is 99m at $1.4 to the £ is just over £70m ie 10p per share. This i would see as an almost base level for this share once the EL goes its full course. After news of Farm in plus and maybe more barrels and this starts to motor toward 50p subject to any dilution. GLA