Member Info for ismalia

Perhaps we need to remember that the £300m is retail value that will need to be extracted at a cost and over several years. Revenues will not happen for years - why didn't Shell do it - and with any success there could come political implications and perhaps Tax implications.

Thanks for your thoughts Mirasol - I have a reasonable holding and have done for some time but you make me wonder why. Wressle, Biscathorpe and the drill ready North Kelsey come to mind and the two producing sites, and of course there are others in the mix. Funding is always going to be a problem for the onshore companies but, as progress is made with some of the projects there may be consolidation to develop the more viable sites. Then perhaps we can be almost self sufficient or a te least cut back on imports.

I suppose my thoughts are that at some time soon we will need to raise further funds to develop our onshore interests notwithstanding Wressle will be on stream shortly. Premier will I guess put their hand in their pockets as will the Americans so why not talk to the Americans, make a general offer for the company and keep the sites local. MA and others could stay and Premier could consolidate and grow the UK onshore market. I think only of this possibility making commercial sense.

Don't worry the Swans legs are still working.Nothing has changed and we can expect positive updates going forward . Keep adding at these levels, buy from frightened men so they say.

Oultonmike can I suggest that you do not invest in Boil or any other company until you have looked at sp performance and investors posts on these boards. You will learn a lot as lovsing money is easy but taking a profit is tricky. What's the company really worth and is the sp ahead of reality. To answer the question you raised I feel that those who were subscribing for there shares felt that 0.10 p was a more realistic valuation for Boil than 0.30p. 0.30p was hype and fed by expectations that imo was never there.

Those holding over the weekend may sweat a little.

The problem may have been that the new placees could see through the real value and it was always going to be 0.10 if they wanted to raise the money they needed. I feel sure buying at 0.10p for any of us will be possible before Easter. That of course if there is anyone who would like to!

Yes but all numbers will be relative

Greed and the inability of many to see beyond the sp. This has caused many small investors to lose a lot of money. MC still £4m but wjth shed loads of further shares in issue. The time line is still 3-4 years and that is before the drilling starts which will mean further raises as the current funds raised will have gone - there is still the costs of the abortive RTO to clear up. There may be £300m in the ground but it will take about 10years to dig it out with the associated costs being about 80pc of the £300m selling price. Peru is the only near term money that can be expected IMO. VS for those who have lost out here but averaging down is not yet the answer until the placees at 0.10 have sold.

I don't think it's a ramp as I feel it is only sentiment that has pushed the sp down. Overall the facts remain the same as far as the sites are concerned but I confess that their PR could be improved upon. I have a Broker note from July that look for a valuation of 35p and I am happy with that. As far as Jim is concerned he also posts on the BBs but his only interest is to make money notwithstanding his broadcasts which can be interesting at times.

As the onshore market looks set to develop in the near future - Biscathor, North K and other prospects where we have substantial interests could Premier use its current interest to make an offer? It could buy the other major holders interest and mop up the other investors. I ask this as there will need to be further funds needed and Premier may wish to consolidate the onshore market.

In view of the size of the WN field do you feel that prior to the release of the numbers UJO and RBD could ask for their shares to be suspended in order that the market can digest the numbers. This could happen IMO as in each case the value of the find will swamp the respective MCs. In each case neither will want to develop the site so a major could also be being lined up as this will be of national interest and not simply commercial interest.

MC is about £5m so what you have to decide is what are you getting to make that £5m worth say £10m to double your money. The asset in Asia will take at least 3 - 4 years of investment of time and money before it can start to produce our share of any revenue. So we will need more cash unless we farm out some of our holding. So what will any investor pay knowing the timeline and cash needed to progress it. All other assets will need further cash and dilution to further the prospects. There seems to be a lot of investors in here for the long haul whatever that means when we are all here to make money. My long haul ended for 80pc of my holding when I sold at 0.43p. It may go higher in the coming weeks and for those still invested I hope it does. Now I retain a fair holding that effectively cost nothing - so nothing to lose. I like MB but I feel he will need a lot more cash if he wants to capitalise on the assets we have, and a lot more time.

And the share price reflects this.

Rathlin 54% owned by RBD will look to sell WN to a major once all of the ducks are lined up. They will not want to operate the site IMO

I am not a fan of Eridge so will vote against. But it may have stirred things up a bit and we may see some influential parties taking a look to see how best the company can be developed.

Looks as if we may be somewhat oversold here. We must remember that our interest in Rathlin gives us about 40% of WN and when that comes good it will swamp our MC. As far as I am concerned S&S play a calm game and will come with some very positive news shortly.

Probably left investors to pile in whilst slipping out. Too much money needed over a long period before any return. That means things could also go wrong politically in the region.

So where for the sp over the next few days?

I sold out in July but like to keep in touch with progress. Looking at the latest RNS I suspect that the company will slip into administration with the major shareholder picking up the client base but not the liabilities. What must the old Higham Directors be thinking?