Member Info for joebop

Drilling can be done for free, cash.

Drink a mighty concoction of red bull and monster, whip it out and let loose....

Collect the cuttings.

Viola

Selling your business usually means stepping down, but that's neither here nor there.

As for the C&D (UK) bit, that is like claiming that Facebook, Twitter, Google etc are all irish irish indigenous companies.

C&D, and APB are irish companies.

The British didn't buy out C&D is basically my point.

" finally the last vestiges of it were sold recently to the UK because of Brexit, they say."

Larry Goodman had a large stake in it. He bought it out fully a few months back.

If you're going to talk shit about someone, get the details right.

The model is quite simple lgo.

Fund early exploration. Hopefully find something worthwhile.
Flog it.

High risk, high reward.

And yes, as they have no regular income, they will have to issue stock on occasion.

With all due respect, after your change of heart on cerp, I can't say that it is a stock for you.

Karny, there is another blatantly obvious option you omitted.

D) Walk away and never look back. It is a disused structure in an area where hurricanes like to dance, after all.

Did you all allow for weather down time in your plant run time calculations?

One of lgo/cerp subsidiaries in Trinidad

Lgo, lk is doing a good job under the circumstances.

Mist oil fields need substantial continual investment to achieve a critical mass in production which, hopefully, leads to profitability.

Ie, you have to throw a lot of good money after bad. (Think of the money pit that is us shale investment).

Leo has no money.

Be thankful the cash burn isn't alot higher.

I don't think you appreciate the effects of SPT either.

Calling for his head is absolute nonsense imo.

Seriously daz, forget about this board, this discussion and me, and just read the pertinent documents. Ie, admission docs, cpr's and rns

Have a good weekend too.

In4, goudron is a fickle field.

Ritson had a good plan to try conquer it. Shit happened. Tough luck.

Even Leo can't get a grip on goudron with f all funds.

It was a high risk, high reward game. Fail and die.

This is why they do it with OPM, other people's money.

What's reckless is people investing in companies where they clearly don't understand the risks.

Daz, I corrected your broken drill bit tripe.

I told you where to look to correct your other mistakes.

Look it up, don't look it up, the choice is yours. Don't expect me to spoon feed you and then throw your toys out of the pram when I tell you to grow up a wee bit.

Daz, it's becoming quite clear that you have done 0 research on goudron.

Start when lgo took it over.

Don't rely on others.

Again, it wasn't a drill bit which broke.

I strongly suggest you read up on wireline logging tools.

Re insurance - didn't hear anyone complaining that they didn't have it for the previous drilling campaign. So that's another bs stick to beat him with.

You've got your shallow wells information, production and reasons for drilling wrong too.

"Perhaps if Ritson didn't take a gamble on his drilling campaign where the drill piece broke, and inevitably screwed the company in doing so.."

Ritson had a 5 step plan for goudron. He followed it. It wasn't a drill bit that broke, contractors got a radioactive logging tool stuck down the hole.

There's an important word in that last paragraph, which goes in no small way in explaining the extra monies the company had to spend to try and rectify the situation.

Shit happens. It's a high risk exercise.

Ritson was more than entitled to drill a well in that spot. Possibly would have done it sooner were it not for the $2m 2k bopd bonus payment lgo would have faced.

Those that moan about that lost well situation and blame ritson have no purpose investing in junior, cash strapped oilers.

Alimony!

To be fair, the company was fucked well before he came in.

It's still an obscene sum of money, but a contract is a contract right?

lol @ "avoid over speeding"

Cops must be fairly sound

But that sell price, with the new tvr after the latest placing gives a mcap of 807k....so that means the BOD did a fantastic job in raising the value of the business........Right???

Your right, it's more accurate than a Bible.

Prospectus said a team of 4 salesmen per country.

Can't say I saw any mention of self signing, not that I was looking for it though.

Pg 45 if the prospectus I took that from.