Member Info for Macminchus

Could I check what happens in Jan 18 with sc55. Do they have to drill cinco or risk losing the licence? I''m guessing they apply for a further extension but being honest I don't know so thought I would ask probably another stupid question.

Is it possibly for shareholders to petition for a company to be wound up? Still keep popping my head in every now and then, don't see the point in jumping back in till we get an rns stating what the new project is even if it means getting in at a higher price. Bandy does nothing for years. At least with the price of oil on the rise sc55 starts to look more attractive.

Really would like to think there is a deal on the cards but I don't have enough to belief in the board to see it happening, I have taken some of my profits out of another share and was considering putting it back in here but unless I see any movement I am reluctant to re purchase especially given the spread.

Yeah island girl, did not want to mention another share on this board. This will multibag once there is some activity and yes getting in early is the way to secure maximum returns. However if he is allowed to sit and take a salary for the next 2 yrs I can not see him doing anything. My guess is he is just waiting for oil prices to get high enough for someone else to come into the sc55 licence and drill cinco. Main issue I see is although we can see oil prices higher in the future, they will not be $100 . At what price does this not only become commercially viable but a big enough risk for someone to take it on where there are so many new play type out there which will be commercially viable in a lower oil price environment. What happens in 18 months when the moratorium runs out? Do they just keep re applying to do nothing with the licence or do the end up losing it all like the other licences which RMP holds.

when do you all get to try and get rid of bandy? was it November? can not believe the spread on this share at the moment. I keep checking in to see if it is worth buying in again at some point but bandy has just taken his salary for the last year. Pleased I sold as I have made up all of my losses and started to make a good profit now. How much cash is left in the bank?

For such a large company I can not see how this is so cheap. Rates are now at 0.25%, the pound should fall even further which makes London property prices even more competitive for investors from overseas. We have already need a number of take overs (not that I can see this being taken over) since the brexit.

Hopefully rates drop tomorrow

Let's see tomorrow what happens if rates drop tomorrow

More opportunities? Weighted average leases according to the last set of accounts was something like 10 yrs, with 98 percent occupied. Good strong cash flows, I'm struggling to,see the downside and would be more than happy for someone to educate me. Britexit is the biggest risk, potentially everyone leaving the south east but personally I can not see it happening, if anything rates could reduce short term therefore decreasing costs in this company.

It is too soon to understand the effect of britexit on new builds. However I work as a mortgage adviser and have seen no effect at all since the result. We work alongside new builds (not persimmon) but reservations and demand as far as I can see has not slowed down at all. The risk as far as I can see to new builds is government policy around help to buy. Persimmon should do very well over the coming years. People will still want to move, as long as they can get an affordable mortgage then they will consider it.

There are just so many good opportunities at the moment. Wish I had more money to invest. This In my opinion is way oversold, Commercial property should not drop that much and with talk of a potential drop in rates should make this an even better prospect.

Well why not, I usually ask them. Could I just ask why no expenditure would be required for sc55?? if they own 30 odd % of it now and otto could not farm it out then RMP and partners would need to spend to explore the area? don't shoot me down, its a genuine question as I am still interested in this share?

If the share de lists do you not loose your shares?

The current share price does not factor in any value to the licence anyway. We are below cash so it is just a case of waiting for the next adventure. I really can not see rmp doing anything with sc55 if otto could not sell it why would we be able to farm out to someone else.

Otto exited oil production after agreeing to sell its stake in the Philippines' producing Galoc field in September 2014, in what turned out to be a well-timed deal, given the subsequent plunge in crude oil prices. The company used part of the $77.4 million it pocketed from the Galoc sale to drill the Hawkeye prospect in July 2015. The Hawkeye well offshore Palawan was targeting oil beneath a known gas reservoir but instead found water. Despite the failure to find oil, Allen deemed Hawkeye an "outstanding experience" for a small cap player. "We went into the plan expecting to spend over $50 million on the well and we ended up spending under $24 million, which gives an indication of how rapidly the cost deflation has gone through the oil and gas sector over the last two years," he said. "We were very proud of the way we operated it but unfortunately it wasn't a material enough discovery to stay with it. It's going to need a major company to go and explore that area quite hard and spend a lot more money on it," Allen added.

Just came across this not sure if anyone wants to read it. It talks about the sc55 licence http://www.platts.com/latest-news/oil/sydney/interview-australias-otto-energy-to-rejoin-ranks-26439068

I was under the impression that is was free. Could be wrong, however, that would allow them to farm it back out to fund the cinco drill. Leaving funds (plus clearly in true bandy style a placing to ensure he has fund to pick up his salary if it all fails) to fund a new acquisition.

Just read my last post. Sorry I did it on my iPhone and it keeps on changing words...

I have made it clear I am wanting back in so not a dermap. I agree there must be something going on in the back ground for the sp to jump up so much in the last few weeks. However 6 million is not that much cash, with the rising oil prices will it not make it harder to get into a quality asset. Otto managed to get the rig due to lower oil prices (although we are still in a low price environment) the longer it takes them to get another asset and with the trend in oil prices (hopefully continuing) will till not work against us?

I've signed too