Member Info for mcadder

"as at June 2021 the Company had cash resources of $7 million and total reported payables and borrowings of approximately $23.3 million."

Wow that sentence really sums up the dire situation here...

Nice. Things finally happening there! Hopefully will be good for us soon

Try reading the question that was being asked before shouting me down. The question asked was where do we see the SP if the drill goes ahead at Chuditch which, as we all know would likely be sometime into next year and would mark a huge game changer milestone for Baron. So with that in mind it ain't unrealistic to see the SP heading there in a couple of weeks from that kind of announcement. At the time of this announcement we could already be at around 0.3-0.5 following on from the initial and final results of the 3D seismics

In all honesty given the sheer size of the resource I can see a spike toward the 3p area over the course of a week or 2 and then settling down to around the 2p mark....

On the subject of share price PP try pricing this in if it comes off and this is JUST on Chuditch just a few months ago....

"Baron said that an independent review at its Chuditch production sharing contract, offshore East Timor, confirmed its view that the project has significant hydrocarbon potential.

The London-listed oil and gas company, which holds a 75% operating interest in the project, said a review of prospective resources indicated gross mean prospective resources of 592 million barrels of oil equivalent, of which 444 million barrels of oil would be attributable to Baron."

So yes as the other poster's alluded to it might actually pay for you to do some actual research so hopefully you'll get to make back what you lost in Angus energy and then some!

Update literally anytime on 3D seismic.....

"Encouraging progress is being made with the reprocessing, affirmed at a key milestone meeting held during August 2021. Initial reprocessed data are scheduled to be delivered in Q4 2021 with final data due in Q2 2022.".........

........."We believe that recent events in the Timor Sea area illustrate the high value potential of Chuditch within this important emerging gas arena:

· acceleration in regional gas development following the Santos US$1.25 billion acquisition of ConocoPhillips' upstream and midstream assets in northern Australia and Timor-Leste;

· infill drilling results by Santos on the Bayu-Undan field in Timor-Leste waters demonstrated high initial rates of gas and condensate production from the Jurassic Plover Formation (the reservoir encountered in Chuditch-1), expected to lead to an extension of infrastructure life;

· announcement of a Memorandum of Understanding between Santos and ENI to jointly explore synergies for the development of gas resources and infrastructure in the Timor Sea; and

· robust demand and price growth in the SE Asia liquid natural gas ("LNG") market, where future demand is forecast to exceed supply."

"Going to fly soon??"

Err NO

And a nice 17.6M buy this morning to start things off

Added some more on weakness today. Next few weeks could be extremely rewarding....

Nice 13M buy at the end today...

Well at least I managed to get out there with a 40% loss and fight another day unlike some that held to the death to be 95% down and then suspended...

There are some seriously deluded people on here and advfn bb that are trying to suck more people into here. Zxie for one who was flooding the oil and gas bb's on advfn with this morning with the one line message "CEG shares jump soon"
It's people like that who are dangerous and more fool those that fall for it

Well that explains why we are back to flat this morning - 40M sell just popped up from earlier. Still looking very good here despite that huge sell

And no matter who decides to sell there seems to be too much buying pressure mopping them up so the trend upwards is looking like it will continue...

From the way this has moved over the last few days I'd say the market is expecting something material pretty soon. My money is on the 3D seismic perhaps Nov or even sooner? Looking to take a position here tomorrow.

I feel an update coming this week.......would be fantastic if they can confirm that they have secured contractor's to complete the next round of drilling ;)))

News
Energy crisis: UK could run out of gas during especially cold winter ahead, industry boss warns
Sir Jim Ratcliffe, owner of chemicals firm Ineos, said a prolonged winter ahead could mean demand for gas outweighs supply, leading to widespread shutdowns
October 14, 2021, 8.30am
. REUTERS/Stephane Mahe
Industry figures have warned that soaring natural gas prices could push further UK energy firms into administration
By Poppy Wood
October 14, 2021 8:30 am(Updated 9:02 am)
The UK holds enough gas reserves to meet the demand of four to five winter days, or just one per cent of Europe’s total available storage.

British billionaire industrialist Sir Jim Ratcliffe, owner of chemicals firm Ineos, has labeled Britain’s gas storage as “pathetic”, adding that some countries on the continent have for or five times’ the amount.

The Netherlands has capacity more than nine times the UK’s, while Germany’s is 16 times the size.

Mr Ratcliffe said the poor gas storage capacity in the UK has made the country more vulnerable to soaring prices, and that a prolonged winter ahead could mean demand for gas outweighs supply.

The industry chief told ITV’s Peston on Wednesday: “I think it’s quite difficult to predict how long this sort of current situation is going to last, but I suppose if you were a betting man you’d assume it would probably run through at least through the winter because obviously our gas demand increases in the winter.”

Ok topofthecharts with a grand total of 2 posts please enlighten us as to exactly what 'massive issues' there are with the permits as you claim

With every sell going through there are plenty of buyers picking them up :)))

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