Member Info for levistubbs

Totally agree burningspear. Dr.S seems to have gone on radio silence as well. Not had a reply to an email and he is usually quite good at replying.

burningspear we can only calculate a value with the assets we have at the moment and one should rightly conclude this should be £15-20m mkt cap ahead of drilling Wick. But the big news will be the assets we are hopefully going to acquire elsewhere. That could be the real value kicker and the reason Tune invested imo.

328matt I wonder if that 15% is what Coarallian were looking to get back? I can't see how they are going to get it from anywhere else unless Corfe just want to hold 5%.

Thanks Lotto. I know its O&G but see how RRE have returned from suspension today after taking over producing assets and a well written prospectus. I see no reason why we can't return much higher in the same way with the quality BoD we have and what looks like a decent asset in Minto and prospective surrounding ground.

More news on Wick today, Boil buying in for a 15% interest

WRES just secured $35m loan with black rock to build a tungsten mine in Spain. I should imagine with our contacts and an already producing mine with all infrastructure in situ it shouldn't be too much of a stretch for our BoD to secure a decent amount of debt against Minto.

Yes Lotto good luck to us all we certainly deserve some.

Hi 328matt just a couple of points. Corallian have not increased their holding back to 40% yet but they are hoping to although I don't know where they are going to get the extra 15% from. One can only deduce they like what they have heard and seen after upl re-checked the seismic. Also 100mb net to Upl is oil in place with probably 25-30% actually produceable. But I agree when we get close to drilling Wick the mkt cap will be significantly higher and that is without any upside from other projects. Exciting times indeed.

I am hoping existing shareholders will have done well enough not to have to take part in any fund raise to look to try and eek out some value unless they like what they see and want to average up. I for one don't want to be averaging down and throwing more money at it in the hope at some stage shareholders do see some return. Existing shareholders need to see some value this time when this comes back to the market. It is a must, DL and the crew need to make good on the current poor performance shareholders have seen.

Bythesea currently it is Pembridge only mine but I agree with Lotto this will be the first asset that will act as a catalyst for them to bring in more.

Thanks okenia. Yes it was rather unfortunate the mention of 1p shares and possible misinterpretation however I think some have come to the conclusion that with the sp currently 1.3p the best the company could have hoped for is 1p in a raising. Very interesting your thoughts on tsx and look forward to hearing the podcast. Whatever the raising and how it is done all that matters to me at this moment is that existing shareholders are benefitted this time and not bent over.

Sorry in my earlier post that should have been 'HAS' failed us, damn stupid phone. MrChow, I wouldn't let Parker Schnabel run a tap, now Tony Beets I think you might be on to something but he would be no good doing an interview without the bleep machine lol.

Thanks for your thoughts okenia. Hopefully it won't all be equity as you suggest. However it is done existing shareholders must get a good deal this time as up to now the BoD hasn't failed us. It is time for them to step up and ensure they provide shareholder value as they have said on the tin as it were.

Yes I remember such comments on different types of funding before we moved to the standard list and we ended up getting bent over with a crap raising that raised a fraction of what they were hoping to raise. Let's hope this time they can get investors involved in a way that benefits us. May be now having an asset this may be more possible but the BoD have yet to prove they can create shareholder value and thus til I see it in black and white I won't be holding my breath.

Thanks Lotto whatever it turns out to be I just hope we can benefit for once.

Evilplum it is to be funded by raising it is all there in the RNS.

Great post evilplum and on the face of it does look a good acquisition but for us existing shareholders holders much depends on how and at what price that money is raised at. Having already been here 18 tortuous months I want to see some value and not have to wait another tortuous lengthy period hoping the company can get the sp back up to something like I paid having been diluted once again at below the prevailing sp.

Thanks jup. Wow doesn't give much away does he. But adamant it is good for 'existing shareholders', time will tell I suppose and fingers and everything else crossed.

Lotto yes the intention is April but would not bet against it going in to May or June. I suppose it all depends on how quick they can get funds together. If this comes back at less than the suspension price then the BoD will have quite frankly failed existing shareholders not once but twice. Oilers manage to come back stronger in similar scenarios so it should be possible for our strong board to get something decent away and reward shareholders for a change instead of the opposite. We always knew it was the intention to take a problematic asset and turn it around with our experienced people. What we actually have is something much better than that by the looks of it and is producing, not mothballed or mired in waiting for permits etc. which is a massive plus but that has obviously come with the fairly hefty price tag. Lets hope that the BoD can find a way to reward us long suffering holders. I am on the fence as to whether they will as they have yet to prove that.

Feel pretty underwhelmed at the minute due to financing by placing another area where I feel the company has let us down. We were led to believe this was a special purpose vehicle and other methods of financing will be found. If the raising goes as well as the last one we could see our value halved again or worse.