Member Info for LONGWAIT

I don't follow your maths at all, either, Rocklawn.

$65 is only the Gross figure.
Let's say

My recollection, Double (by which I don't mean I was there when it happened), is that the extinction of the dinosaurs was caused by a meteorite hitting Earth and covering it with a cloud of dust.

According to Darwin, all species ultimately become extinct, at least in their present form, which is of consolation to me when I think of some of the posters I've encountered on LSE - especially on UKOG and SOU.

'Jersey Oil and Gas details Buchan’s "significant" resources
10/8/2019
ST. HELIER -- Jersey Oil and Gas PLC has revealed the findings of a new independent evaluation of its recently acquired Greater Buchan Area project in the North Sea.
Moreover, the stock market statement gives a valuation of £791 million for Jersey’s ‘mid-case’ contingent resources – including the new GBA estimates along with the explorer’s share of the Verbier discovery.'

As there are 22 million shares in issue, that gives a valuation of 3595p per share.
Presumably, the valuation will decrease when Buchan is farmed out, as the valuation given is based on JOG's existing one hundred percent interest, but it gives an idea of just how undervalued the shares are.

I don't think the APEC deal will be resurrected and I don't think PVR would trust APEC even if the transfer were miraculously completed.
In any case, if APEC's share of EXOLA is restored to PVR and LOGP, that will be the end of the matter because, presumably, the transfer would then be cancelled.
I disagree that TOR's leaving has been the biggest shock.
He did say he staked his reputation on the transfer being completed by the end of September, so his days seemed numbered.
The whole thing is a mess and, like you, I don't see a way out of it either.
Everything seems to be in limbo - Barryroe because as ever, there is no farminee; South Dunquin delayed; Spanish Point never mentioned by the company.
I suppose we could be looking at further dilution next year.
Unless a deal is done on Barryroe, it may be that PVR's future will depend on something happening with South Dunquin instead, but the delay there looks ominous.

'I honestly think this a class investment, just cannot understand why nobody else does...'

AIM!

Yes, Manyana.

I agree with you that my theory that TOR was forced out doesn't square with his staying around.

But when you say the 'orderly handover' must refer to his replacement, PVR have said they are looking for a replacement.

According to LSE, sells outnumber buys by 8-1, yet the price has risen by 14 percent!

I would have posted a comment along similar lines, but I suppose I didn't want to tempt fate or be accused of ramping.

I do recall commenting, 'Am I the only one who has the feeling that the share price has bottomed out?' shortly after it bounced off about 24p, just over two years ago, and someone replying, 'No, you're not'!

Sorry that you find my explanation of TOR's departure indecent, Manyana.
I did say that I was puzzled by it and thought that major shareholders could have pushed him.
I also speculated that he may have been unwilling to accept low offers from majors, but I think I made it clear that I am bewildered.
Must log off now to clean the tar off, as I don't want to mess up the bedsheets.

As the festive season is approaching, may I provide some light entertainment, courtesy of our friends on LSE UKOG?

' [HUR has] no revenue,no oil,huge losses year on year. Yet they a market cap of 600m. Down from 1.2 billion since June 2019. Junk share which is heading towards insolvency. Hope your losses aren't too excessive !'
(Sachs1 to JK1)

'[HUR's]latest RNS states a marked decline to only average 12,000 bopd since 20th September. That is a steep decline in such a short period. Now a reported water cut increase to 30%.'
(Argus1 to JK1)

'The way things are going it could be 20p Hurricane / 20p UKOG.'
[UKOG is currently less than 1p]
(wizard125)

Thanks for the info, JK1.

It's really disappointing to know that HUR are unlikely ever to become a producer (or were they referring to the movies?)

We had better let BP know that the water content of their barrels from HUR is 100 percent, considerably higher than even the biggest deramper's estimate we've had here.

I suggest we also remind RT to turn the lights out.

Linns:

Someone said that once gas is being produced at TE-5, it will provide enough revenue for a 2p p.a. dividend.

Is this your estimate too?

In the event of a similar discovery being made, could that reasonably be expected to provide a similar pay-out?

With 4p per year, it wouldn't take that long to recover one's losses, provided one had been able to average down sufficiently.

With sentiment being so bad at present, I think such a scenario is not far-fetched - provided the deal goes ahead.

Are you saying that you think PVR is going to be taken over - in which case, it wouldn't need a new CEO - or that a new CEO has been lined up, in which case, presumably, it isn't being taken over!

We don't know why TOR went and the reason could be the key to what's going on in the background, but the fact the company announced they are seeking a new CEO suggests they haven't got someone lined up.

I still suspect that major shareholders could have been behind his removal, which perhaps suggests they lacked confidence in him to conclude a new deal, but I don't buy your theory that a major or potential farminee insisted he go.
TOR said that majors expressed an interest in taking APEC's place.
In the light of his history of farmout deals, it seems very unlikely that he would have made that up.
So the question is: why did TOR have to go AFTER expressions of interest were received?
My theory was that he wouldn't accept an offer because it was inferior to APEC's.
However, would you really have to remove a CEO and wait to find a replacement before you could accept an offer?
It doesn't make sense.
If there have been expressions of interest, what is the point of leaving them in limbo, with no CEO to represent PVR, and if the majors aren't interested, what use will a new CEO be?

Does anyone think the Dunquin South exploration well site survey, delayed since June 2019, will ever be carried out?
DS could be worth a pound or more per share to PVR.
I can see why major shareholders have stayed: PVR could, as indicated by analysts, be worth pounds per share.
The danger is that its assets are picked up for peanuts - the very possibility TOR said had been prevented.
Does anyone have any idea of how much money would be required to keep PVR going, bearing in mind that if a new CEO is found, it will actually cost more than it is now.
If the major shareholders want a new CEO - to negotiate a deal with a farminee - how do they expect his salary to be paid, unless they or another major shareholder are prepared to provide the money?

Well, I didn't expect to see a post full of drivel - from Robone - in response to my report about the lies being told about HUR over on UKOG, but now I see that Robone has been having an altercation with JK1 there.

Here's what Robone himself wrote there a week ago about HUR:
'... sp will fall to 20 or below...'

Yet on 7 November, he wrote about the price of oil, which obviously affects HUR's profits:
'... I can see 2020 as a turning point to the new level at $80 onwards in coming few years.'

His posts there are often derisive and abusive, so I'm not surprised by the comment he made about me here.

I'm adding him to my growing filtered list.

I did, JK1!

Over on UKOG, the poster called Petercraigscot is again making things up about HUR, now joined by Argus1, who has posted a pack of lies.

It does make you wonder whether there is a plot to talk the share price down.

I see you're at it again, Petercraigscot, making up things about HUR.

Argus1:

You're telling a pack of lies about HUR.

Based on your estimated P/E ratio, JK1, the UKOG SP should fall if production is 'only' 1200 bopd!