Member Info for ismalia

I don't know but I understand that the CEO of Block Energy is in charge at Eagle .

Whatever it cannot be bad for the sp - next move onto the bod.

I think we all need to remember that any deal with GW is the only way to recover any locked in cash. For my part I am supportive as much time has been spent putting the business together and over time GW has supported INFT with loans. Also he has other complimentary businesses and no doubt other potential acqusitions to put into the group and not simply UK. This will be a main listing and not an AIM play so the man means do it about right. There will be sellers but no doubt serious buyers will appear.

They seem positive potentials as well. Colter may well pay a decent dividend and the other prospects could be very interesting, and the result of the 31st round could also add value. With a MC of £2m or less, it is good option money taking into account cash in the bank and £23m of tax losses.

Not much to do with shares in issue - more to do with mc. Prior to fund raise at 0.45p there were 366m shares in issue at 0.54p or a mc of £2m ish. Now we have 606m shares at 0.17p or £1m ish. So instead of just having the Colter potential we have that plus £1m in the bank and a mc that has halved. Forget if your are here and well under water as I am simply look at it as being a new investment with huge potential. Nobody who paid 0.45 will be selling and they will also be on SG case.

The company is being run by bankers and not engineers - in other words it is simply being managed. I feel sure that non of those who are running ASBE and have skin in the game do not want to do a deal. It is an ideal RTO candidate with assets ahead of mc and huge tax losses. Perhaps a deal is being sought all the time and perhaps it could be this year. Only the one mm so they dictate the price to suite their book.

Colter comes in at 15pmbs plus, is very commercial and our mc is less than £1m which it is today. I suspect the sp will rise 5 - 10 fold and we will have many posters regretting they had not topped up. I also suspect that if a potential investor was not as yet invested here they could feel that at current levels with the mc in the bank and the possible result at Colter ADL was a very good option.

So when there was a raise at 0.45p (MP 0.54P) there must have been substantial selling to arrive at 0.15p, and no marking down. Is that about it?

A chum of mine who I talk with over the phone due to distance, and seems to know a bit about the City suggests that the MMs are happy to take stock, are keeping the sp low, feel positive about the drill outcome and are preparing to cash in on the bounce. Is that possible?

S S of RBD both very upbeat on the potential of the Colter South result saying that the 15m could be conservative. They have about 40pc of Carralion. With all the JV partners seeming positive could be an interesting couple of weeks ahead of the analyses.

Thanks m444. The drill was some time ago now so I imagine there is currently a fair bit of analysis being carried out on Colter south and further connected areas, all of which could yield good results. For some to blame SG for the situation is a little unfair IMO as there are other well known JV partners involved. I feel ADL is good option money and has a MC only a little above the recent raise with Colter as a bonus. I have topped up with a couple of buys at 0.1575 which I feel is a reasonable price.

Why or the gloom? As I understand it Colter was looking at 22m bls and it came out at 15m. Also BL of UOG tells us that this number could be conservative. Eagle where we have 25% has Paul Hayward as its CEO and seems to be doing OK with Block Energy, so not all lost there. Also there is cash (after paying side track costs) amounting to more than the MC. Also SG with his new investors at 0.45p will need to achieve or loose control of the business.
So if Colter comes in at a commercial 15m or more what is the value of our 8%?

There seems to have been a massive overreaction in the sp to the recent updates. My understanding is that we have about a 14pc interest in 15m barrels which according to the CEOs of the JV partners is a commercial prospect. Also we have a good prospect in California so I deduce that we are considerably undervalued and will be topping up on Monday.

8pc of 15m cannot be bad. I will add on Monday

Agree and most of that value is in the bank.

Update in the next couple of weeks and I expect this to be upbeat. Also could well find out more about the strategy going forward as this seems to be a fast moving vehicle building for shareholders not just BOD lunches.

So what's the problem? 8pc of 15m bls instead of 22m lbs. If commercial and that is the current thoughts then the current mc is somewhat on the low side IMO.

But take on board the 15mbls against the 22mbls projected then it's not that bad. We have 8pc of 15m at £50 a barrel less say £ 20 a barrel costs which will leave £30. That is 1.2m Barrels at £30 which is about £36 against a very low MC. So imo both ADL and BOIL each with 8pc could be considerably undervalued.

There are three very attractive prospects underway - Colter - USA - and WN shortly to start. We have a 50% income interest in California which seems to be gathering pace and further income. When this matures then I guess it could be sold either to, or with the other 50% holders interest to a third party. Colter should provide an answer in a couple of weeks and this of course could be massive if the two drills come in or even better if there is simply one massive field, and remember RBD have put another £750k in the pot. WN could also be a massive winner. I can understand the market not pushing the sp higher as in reality there is no reason to unless there are big buyers around. The MC is about £27m but once monetising the assets kicks in then the real potential will be known. £27m, £57m, £157m, who knows, but I feel it could be a lot of money. There are of course other prospects including Romania so the show will continue so if we can be patient and be prepared to continue to add at current levels we should all make some serious money over the next six months or so IMO.

Very low mc and worth noting that the large investors bought in at 9p and no doubt knew where they wanted to take the business. GC is no fool, will have connections and will be putting together a growth business. Vastly undervalued imo and it will be interesting when we get the trading update by the end of March.