Member Info for Jeremiah99

It just needs HH to flow as well as expected then we should start to tick up. We don't have the millstone of a payday loan company like Ukog so we ought to outperform them on any good HH news.

Yes, I keep saying that once we get a CPR on HH after flow testing for a while, 11%+ of the recoverable oil down there can be attributed to Alba. Not sure of the value of each barrel in the ground though I believe offshore is around $3-$5? So I would like to think $7-$8+ for our sweet, cheaply drilled HH oil? Lately there have been hints that there is more connected oil than first thought. I would hope that the Portland zone alone would give Alba several million barrels, which would then translate into several multiples of current s/p. If the Kimmeridge, being 10x bigger can also be shown to hold proportional amounts of recoverable oil, then we ought to be many multiples of our current s/p. Once in the ground reserves are attributed, non equity finance can be raised to progress our other projects. So again, IMO, it would be daft to contemplate a sale of our HH stake prior to a CPR. Of course we are not experts nor privy to inside knowledge, so maybe things are not as rosy at HH as Ukog paint them to be, so if it turns out that we do sell our stake there we have to assume our own oil guys are less than confident of the longer term prospects.

Really? After all our hopes of 30p+ a share you'd settle for just over 4p?

That equates to just $2-3/oz in the ground. Must be one of the cheapest prices in gold mining history - useless.

I thought Nick said it was worth something in the $15-$20m range and he wasn't going to give it away cheaply. Another broken promise...

for peanuts at first glance...
"The cost to Arc of the shares being sold is £5.1m ($6.5m) against the gross consideration of $9.8m representing a potential $3.3m gain. " £5.1m costs of sale? Really?

I hope they aren't simply confiscating licenses from small scale Zimbabwean miners and handing them over to bigger international players? If so that's the reverse of what happened when Mugabe took over.

GR/Lenigas/Dattels/Zim govt = Fairy dust/hot air/smoke and mirrors/Scotch mist

Great, we just need to find some then..

Yes, I may start to filter those replying to him as being nothing more than accomplices. ;-)

.7 to .8p nowadays is equivalent to 2p before the last couple of years dilution. I can't see it hitting that just on sentiment alone, gonna need a good JV partner/deal for Zulu. As for detailed 'well researched' posts, we had all those from Xulu a couple of years back, just prior to the s/p losing 95% of its value. Only in cloud cuckoo land will both the Zim govt and Prem manage to deliver prosperity for their people without any setbacks, failures or disasters.

From Arigarosa's original post of 30th Oct -
“Today the company is in crisis. We will reimburse our salaries after overcoming difficulties. But today you are asking for money from a company that has no money ... then why would you not try and get more oil? There would be no crisis!”

This replica caused a lot of people's anger.
One part of the employees also stated that if they do not receive salaries, they will not refrain from picketing the railway, and they received a threatening response: "Whoever hurts the company will be severely punished"!

Sounds like proper argy bargy and not just histrionics to influence to GG, unless it's been very well staged. And, going by previous reports, what are we doing with supposedly over 200 employees anyway? Sounds rather a lot..

A little bit muddled, but it does clarify at the end of the article that water injection isn't the same as fracking. Anyway as the local man alludes to, they've been producing oil from Wytch Farm for decades and no sign of any seismic activity.

https://www.telegraph.co.uk/news/earth/earthnews/10233955/The-town-where-a-form-of-fracking-is-already-happening.html
"In the next few years, the UK is expecting the biggest acceleration of onshore oil and gas since the Second World War, with tax breaks already announced and 176 licences issued."

"Richard Davies, Professor of Energy at Durham University, agreed fracking has been going on in the UK for decades.
He said the risk is fracking for shale gas.

“The oil industry is correct in saying they have been fracking for some time. What is new is the widespread deployment and possible fracking for shale gas.”

Prof Davies explained that unlike fracking for conventional oil and gas, fracking for shale gas requires multiple wells and has only happened in Lancashire so far, where it caused a small earthquake.

Durham University has published peer-reviewed papers explaining that earthquakes and contamination of aquifers are unlikely with this sort of fracking."

My 1.63p being above gezza's 1.66p is playing havoc with my OCD, fjones40. I could barely sleep last night! :-)

Unless something is in the pipeline deal wise with Amitsoq I'd guess next news will be HH flow rates followed by CPR figures a couple of months later. I think first drilling at Clogau is due in spring? You can't expect every project to be a winner, some will shine while others struggle to deliver. Both Greenland assets look more 'stable' and near surface so more easily quantified and should sooner or later be of interest to other parties, while IMO both UK assets are a lesser known quantity - there may be oodles of high grade gold in them thar hills or there may not, similarly with HH and the oil. The UK assets both have the potential to surprise to the upside - or disappoint greatly, so it's good we have four legs to stand on at the moment. ;-)

https://www.accuweather.com/en/zm/kabompo/355464/satellite/355464
I use this site for checking local rain and storm movements. I set the location on Zambia but you can zoom out to check anywhere in the world. Apart from some heavy looking showers a couple of weeks ago there hasn't been much cloud about over Zambia recently.

And what do we need cash for right now anyway? Outgoings of only £35k a month, winter kicking in so no work in Greenland, HH hopefully ready to gush...

Thanks Bloodshot. Ten years of listening to over optimistic and ill informed forecasts on AIM has left me well out of pocket so I try to do the sums myself, weigh things up and even take what CEOs and brokers say with a pinch of salt. Kalaba and CE don't look like huge deposits but I'm hopeful there will be better quantities found elsewhere. We don't even need a 5m tonne Sentinel sized deposit to shift this, 1-2m tonnes would do nicely IMO, and would send the s/p to around the 20p to 30p mark.

Apologies lonely_shooter for having a little joke at your expense but it really isn't a bad thing to be either Zimbabwean or Jewish nor is it a particularly good thing to take pride only in one's own country/race/creed, IMO.