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I would say anyone who wants a position here to get in this week, next week things will start moving very rapidly, a lot of news and updates are about to break on projects that have been worked on for many months and years. A heck of a lot of work has been put into these projects regarding there feasibility and overcoming the environmental issues that have held things back. But significant progress has been made and a new phase in enegi oil s progress is about to be revealed. Wait for the update!
Ad equals as lol
Yes Bern I had the same prob as you any mention about on going events was met with derision and abuse. There are a few genuine investors such ad last throw 007 danpoe kmack amongst others the rest are there to keep the board ad negative ad possible. Keep standing yr ground m8
Rapter has been one of the most aggressive de rampers on the ii blog for the last year or two as he trades the share. Bern 2000 bpd with the present data will give us a m cap well in excess of 100 mill and that is conservative.
I was banned due to trying to set up a blog for serious investors you are banned if u promote a competitive blog for which the de rampers such as yourself picked up on. Yes £1.00 is easily possible if it was cert we would be there now. But they are slowly lining up the ducks, remember they are operating on a shoe string but with big assets that once they crack one and unlock some of those reserves then it will snow ball as the value of the company increases more investment is made and more assets unlocked.
I spoke to the company myself about valuations, a confident valuation of GH at 300 bpd was around 50 mill not my words 300 barrels a day is approx $10 mill a year enegi have 50% interest this would not just value the company on the one well as it will prove up the field which initial data shows around 100 mill recoverable. The asset will be then proven as commercial and the upside substantial with significant value priced in. The one well will just be the start of the start as more data comes in and further drills prove up the field. This is why this story is compelling, with such large assets for a presently a minnow of a company and we have 1070 and 1116 yet to add to this. A 50 mill valuation is nothing for a company with a well or two but it is the bookable reserves that could catapult this one to well of a quid short term.
Yes Bern keep it up by the responses you are getting it seems they are bent on keeping the blog negative. Why? Well why do they spend so much time de ramping if invested, they are just out to keep the sp suppressed as much as possible and think they could have some impact talking it down by trying to ridicule genuine investors such as yourself. As you say if three drills are completed this year and the marginal imitative gets approval the sky is the limit here with such a small market cap presently with so many assets working to prove up booked reserves. This, once it gets out of the blocks could be very lucrative for us. They need to get over a couple of hurdles approval from the d n r and a deal struck with the WG then this could fly. The market cap of a one well company with just 300bpd with a few mill recoverable is worth well over 50 mill. We have three drills this year and a potentially lucrative deal moving forward with implementing the buoy tech in proven fields. Approval for the fynn itself would value the company many times its current value and they are looking at several other fields. So we can see the upside from these levels is staggering. Ducks been lined up its been a long wait but this year is the year to be in this one it seems, news looks around the corner as we enter q2.
Keep up the good work on the ii blog bern, the traders there can be very aggressive,although they may infer they are invested most trade and can be very sinister. It got so crazy last year I tried to set up a blog for the genuine investors, I mentioned the blog on the site which viminal or GCtrader, highlighted it to ii which is an instant banning promoting another site, my mistake. It highlights how desperate these guys are. I have done a heck of a lot of research on the company which I posted. I posted one photo of a flare that hadn't been seen, which I was accused of being misleading. Anything unless the company is going to the wall they will deride. Just stand your ground when they try and abuse and ridicule its because it is in there trading interests to do that and not personal. Remember that. Specially now as they know big news is close and the sp still bottomed, they want to make the most of it while they can.
Bern, don't get to worried about the cases on ii. A few have been trading this for three or four years and either will go silent if good news hits or be on it like flies on excrement when there is weakness on the sp. As a long termer I hold in hope that after so long the ducks are getting lined up now in NF and the NS. For such a small cap the ambition is big. All we need is some booked reserves from one or both avenues which could take the m cap into mid tier territory. Perfect storm would be a commitment from the WG to develop the buoy tech and a couple of successful drills that could take the market cap well over 100 mill and with booked reserves from the marginal field initiative the sky s the limit. Exciting times for the company but we need a solid deal now with the WG which will signal the technology is going to be moved to the next level and implemented in the field.
See enegi s fb page news of a conference at the end of the month. Looking like its gaining momentum this one.
Yes they were the sources that I drew my conclusion from. They are also looking to raise further funds presently, so it looks like getting through the regulatory hoops is all that is left to do. But I will be happy with a couple of drills this year hopefully three with 1116 now in the mix. The news Monday will be interesting. Any news on real progress will indicate The Wood Group want a deal and that will be a major signal they want the buoy technology to move to development and that will mean big investment by them and with the fynn and helvick along with eneg s other licenses and the targeting of further NF assets value could start being added here from next week as news flow finally stats to arrive which has been what we have been waiting for for a long time.
Berni I know they have raised 20 mill and are trying to raise a further 50 mill or so but don't know what has been raised above the 20 mill maybe we will get an update hopefully shortly. We are due updates any time now, this month should be of major interest to say the least.
I meant this month as we are in March just realized.
I would expect news next month on permitting progress. I cant see BSE acquiring all those assets setting up a new office recruiting etc not to bother with it. Enegi s licenses are the only ones they can exploit presently so I would expect news soon. I expect drilling to start May ish but they need to get two or three wells drilled this year so need to crack on. 1116 only has a year extension on it after they paid 250k for the extension so that will need to be planned now. I expect they are getting approvals for several drills on different drill sites which need doing consecutively which is going to take some time and red tape to get through. But with NF and BSE news looking very close we could see some quick movement on this with some interesting volume over the next few weeks.
A buoy costs £100 mill to build the use will be on average 20 mill proven recoverable fields at 1000-5000 bpd. These are already producing fields but infrastructure is removed or the fields are isolated now. Take a producing field at say 2500 bpd that's approx £100 mill a year for 10-20 years per field. So we are talking in terms of billions of dollars from a few fields. Even if enegi take 5-10% interest we could be looking at a valuation of a 100 tp several hundred million in a few short years. One fields production should increase our valuation by many factorials do the maths. A lot of groundwork going in now to achieve that first oil.
BSE $50 million investment over GHS 1116 and 1070 at 50% interest for enegi. Wood Group £300 million investment over 3 years to implement buoy technology over 100 million recoverable fields. DYOR as to what valuation can be attributed to enegi.
It cant be YA shares their not on the market yet and why sell them at break even. Looks like an ii is buying in before the rush and expected Wood, BSE news arrives. Taking advantage while they can at these levels, a good sign news is close. A holdings rns may be on its way after today. Things hotting up;
Just getting frustrated at the slow pace of progress. I have held for so long but there is a limit. I haven't a problem with being patient as long as positive steps are being made and value added. Building a company takes time, but a lot of promise had yet to show fruition. Lets hope BSE and ABT start adding that long awaited value shortly. Still holding but frustrated and still living in hope bookable reserves can be added other wise its been a waste of time holding but not for the directors on their big salaries.
The jury is out as to whether myself and many other long term holders have been duped as to enegi being a vehicle to con pi s into thinking it is a genuine prospect rather than a vehicle for a few people to gain 3 figure salaries each year. This is a valid concern until they can show otherwise by delivering some value. Presently after 5 years enegi is just a vehicle to pay massive wages to directors while share holders suffer major losses. A few thousand barrels after 5 years umm have I been duped. Unless they can deliver something in the tenth hour I am getting less hopeful after chasing the rainbow for 5 years. Is it time to move on. Three months I will give it and that's it. Has Minty a rabbit or am I screwed.
I must say I am disappointed with the dilution here, but I suppose a placement has to be done at a cheap price to attract the investment. But this has been going on for four years, failure of delivery followed by a new project followed by failure followed by further dilution for another project followed by failure. Thats the negative I hope that this dilution can be negated by some positive news on a deal with the Wood Group and BSE news. If no news is forthcoming on the Wood Group deal then why apply for new licenses as The Wood Group are key to its success. The licenses will be just a liability without the Wood group involved. They have to deliver something after so long, on paper the upside is massive but my only concern is its all set up to string investors along chasing the rainbow year after year while paying massive wages to the board. Shortly I will know whether I am a sucker or have picked a winner. Thats the million dollar question.