Member Info for leas

CD, clearly some investors looking at the exit door on the back of Cal-1. Money to be made as the year progresses.

The problem we have as AMER shareholders is our partner on the CPO-5 block. Whenever I check ONGC website there is nothing about spudding of the wells, results or trading updates. Cal-1 is totally insignificant to them when you compare other projects in other countries. They do not operate under the same market rules as AMER as any discovery will not have any impact on their share price.
For us any news could potentially be a gamechanger so we become eager for news. Ind-1 announcement was 'forced' on ONGC by AMER but our partners were only too happy to go public when they could report CPO-5 being a potential significant discovery.
More I read about ONGC I can see that they operate in a completely different manner. They only release news when they have to and that news contains far more information than our standard AIM oil exploration/producer companies.
I know AMER have to follow our LSE rules but could justify any delay on our majority partner.
News will come, but imo as the timeframe gets longer the cos increases.
Never like news on a Friday unless it is bad news, enjoy your weekend guys.

Could be from the company website. Sig. Shareholders.

Well put guys.. Just watch the number of pi's exiting at 20p only to find it double in less than 12 months.
I'm sure many of us admit doing that in the past but you live and learn..

I've always found it harder to figure out the high rather than figuring out the bottom.

willec, there are market rules in place to protect shareholders and the company from a takeover. You also need the majority of shareholders to agree.
You also forget the director deals made in the last couple of years.
Why not use some of your time to do some research or move on if you think the company is going to be bought out at the current MC.

Maybe Kym Denny? Back to sleep...

They seem happy to keep the bid at 16.8 ….

bigsmoke, the rumour surfaced yesterday after the company announced that they are buying the rights for Put 8 block for $19m. The company has already stated that will be self funded but some posters, here and on other bb thought that would result in a fundraise. Last month some poster's were questioning whether our cash position should be used to pay a dividend. Sometimes bb stop becoming useful for research and start to cloud investment decisions.

Keeping the theme of share buybacks, ONGC BoD's met last week in order to discuss a payment of an interim dividend. Not only that, the week earlier they announced a huge buyback scheme. Seems like some oil companies are awash with cash to spend. There is also pressure on the company to sell some of their assets in their Indian Portfolio by their government.

If AMER are spending some of their cash to increase their acreage in a very promising area and is exploited by means of a farm in or partnership then that seems a sensible approach in relation to finance.

jtd, maybe to make it difficult to determine buys and sells. Any pressure on the bid and the bot kicks in.

Gazza, news on Cal-1 will come soon enough. Today's news is completely separate to that expected update and worthy of its own RNS. I guess any news from CPO5 will be initiated by ONGC.

CD, was about to post the same, with GTE taking the lead

Morning Bays.. would make sense. Exciting year ahead for the company and shareholders. The potential for news on many fronts now.

Just a thought... was the option for first refusal the reason we have been held back. Time will tell but exercising their option suggests yo me that the company is moving forward in a positive manner.

Wait, don't forget we have funds coming in, especially when the PoO has strengthened so much.

Bays I read an interesting link on the ADVFN bb today. Russia and Colombia delivering more oil discoveries in the last 12 months than anywhere else on the planet. I'm sure that will continue into 2020

Baysil, good evening. I too think Cal-1 Will be a success but more importantly give a greater understanding of the data. Not a disaster if not, it's not like the sp is 30p.

Not so sure a RNS on Cal-1 and a second rig is a good move. I'm sure the company's Nomad will advise a separate news release in order to maximise shareholder value. Either scenario would be good though.

With the flurry of late AT's the bot has had to work overtime today in order to keep a lid on the bid.
Not concerned whether or not we get news tomorrow. I'm taking a long-term approach and see if CPO-5 Is truly transformational. At the current MC everything that follows is a free ride.

bigsmoke, I think it is the buyers today. Another trade reported at 500k. Volume definitely up today.. safe to say any price at 17 and above is a buy but as pointed out earlier if a sell then there is a buyer happy to take the shares.. looking good

BBN, not underestimating the significance of CPO-5 to ONGC or AMER. Just annoying that some investors here seem to think Cal-1 Is a binary bet and all is lost if it fails to deliver.

On the other hand, some great posts over the last few days, good research and measured views. Some investors determine success or failure on sp alone. Some should consider the risk v reward. At under 17p this is a screaming buy based on fundamentals that are nailed on already. Every other bit of news is a bonus not forgetting the odd setback along the way.

We may be the last people to know what is happening but judging by recent posts the information is out there, we just have to pay due diligence to our investment and find it.

BBN, quality post. 45 days is the timeframe for civil works at Mariposa. Not sure if a contractor has been secured but was amazed how little time it takes to take a facility into production.

In terms of oil price and revenue, ONGC's oil production dipped by over 4% in their last fiscal year. However, they reported a 65% rise in net profit. Outstanding performance, but I'm sure they will want to secure oil reserves and put a stop to falling production numbers. especially when the PoO is looking robust.

https://zeenews.india.com/companies/ongc-net-profit-jumps-65-in-q3-2180501.html