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HFB.
If you think the Co is well run on the historical Comms to us loyal SH, you clearly have your head up your bottom, perhaps an enema might help you !!
Questions, lets start with
1. PG has raised money on three different occasions to test MOU-1, almost 3 years later, no definitive test results, WHY has this occurred ? It is clearly not acceptable to raise cash for the same stated objective three times, what mitigation is in place, what have you leant, what went wrong
2. MOU - 2 UPDATE PLEASE !!
Etc etc
Anyone with half a brain can see that PG is a superb geologist, but equally I am not sure he is the best Communicator.
I am not going to waste anymore of my time, except to say, I have full expectation of further delays in Morocco, lots of excuses, I am starting to think of PG as Reggie Perrin (latest excuse…..tiger on the line at Barking)
If no IRL SA, how long until yet another Placing, dilutive again.
An accretive Placing would please us all, but unlikely.
Timing is everything, I fully expect the Sage of Sevenoaks (GRH) would have hoped to see his considerable SH start to increase in value by now.
Let’s see what Thursday brings, I would be overjoyed with some tangible good news.
MEM
Guiding. If only we knew what was going on !!!
Some transparency is needed, but I have been saying that for 3 years.
I emailed PG 2 months ago re better Comms to SH, I had zero response from him.
I strongly suggest some SH are running out patience with PG and how he handles business.
As someone stated earlier, PRD/PG has raised money on three different occasions to test MOU-1, almost 3 years later, no definitive test results, and still no news on re-entering MOU-2.
Before anyone has a pop at me for changing my tune, swinging through 180 degrees or being negative, don’t bother, instead perhaps join the club and admit PG’s Comms strategy could be improved, simple.
I am not trying to manipulate the SP, its just simple business to advise your LOYAL SH of W T F is going on, rather than the majority of the last 5 years leave us in the dark.
Will anyone actually stand up on Thursday and ask deep meaningful questions around Governance???
Predictive text
COTRILL not Vitriol
Vitriol, are you saying there is zero money to be made ??
Timing is everything to being successful.
I expect the SP to move up and down as news is released.
The smart money makes money on the way up and on the way down, as the SP cycles up, down, up.
I fully expect to see this cycle
Re GGP SP history.
1st Jan 2020 SP 1.8p then started the incredible rise, month after month the SP carried on rising until 1 year later it peaked at 36.9p
A staggering 20 fold increase
If EEE emulated that performance the SP would go from 8.5p up to 170p and the M/Cap would rise from todays £50m up to £1bn.
Very similar to GGP M/Cap.
Given initial reports of our discoveries, as each drill result is reported, confirming a bigger & bigger prize, its only a matter of time before the SP starts an upward trajectory, especially if investors/traders start to see the extraordinary story unfolding and the next drill results are as good or better, some will say EEE is the doppelgänger of GGP.
I reckon anyone who wants to invest has probably 2-4 months to complete their DD/DYOR and decide to buy.
DYOR, whatever you decide, as Vince Jones would say ‘it’s going to be emotional’
Good luck
Who has the rig right now???
The more I think about the timing of MOU-5 and phase 2 testing, would it not make the most sense whilst also saving cash by starting testing of MOU-1,3 & 4 whilst running a twin track approach of drilling MOU-5, at the successful completion of MOU-5 move to testing ASAP
I also wonder if we will complete drilling of MOU-2 to gain a huge amount of technical date and add testing somewhere in the above timeframe.
Hopefully all will be revealed on Thursday.
IRL news should be due any day now…….. just imagine an RNS stating we have SA and then an additional RNS stating HOT with Vermilion and $$$$$$$ contract all agreed.
All to play for
From the RNS.
Star Valley Rig 101 contracted to drill MOU-5 during April - May 2024
This RNS just happened to be published on Feb 5th… coincidence or by design, it does state CONTRACTED.
Should an offer be made, with the current No of shares in issue, think 165p per share per £1 billion offered.
Given the size of the prize, anything is likely, inc dirty tricks.
I take comfort from our Saudi friends, they will have completed their DD, plus the highly experienced Ti engineers/experts.
Ultimately we will sell this, the price tag will rise as we move forward with the work schedule, there is a timeframe/window approaching where we will prove up enough to satisfy a bidder, but not too much proven or the price asked is too much, that window will be in the next 12-18 months. The SWEET SPOT.
What will the price be?? Many billions, depends how much one of the big 5 majors want this, to secure 100+ year life of mine, with possibly the lowest OPEX of any Ti mine in the world, in a mine friendly country.
There could be a left field bid from the likes of Glencore
For every share you buy at 9.2p, you can probably sell at many many multiples within 2 years.
For once details seem stacked in SH favour, but there will be bumps along this road and dirty tricks galore.
I have bought to hold and add as dips occur.
GLA DYOR
Various figures from 250bcf to 91 Tcf
DYOR is best
Those dims equal 1,400 cu Km and 1cu Km = 1 billion cu meters
Therefore 1,400,000,000,000 cu meters of ore
Assuming 40 year mine life, that is 95,000 ton of ore crushed per day.
Completely impossible.
Now I’ve made those calculations you can see what a gigantic mine and story this will become, perhaps a 120 year mine.
Adding Billions in profits with its cheap extraction, and Trillions as an asset on the balance sheet.
DYOR, tuck some away and WAIT
Given the global market will rise from 23 Billion USD (2022) to 58 Billion (2030)
Likely mine life of 40+ years
A gigantic investment opportunity
Let market forces work their magic, the prize is too big, think about the major mining Co, this will be their prize asset.
Can they afford not to bid😎
I do not think we will have to look too far re a Bid/takeover.
The Saudi Sovereign wealth fund are actively looking for such projects, but they will wish to own 100%
I fully expect a takeover in the next 9 -15 months, circa 150p, a fraction of our true future enterprise value, what a prize, other bids could come along from a major, leading to a frenzied bidding war.
In May 2019 the M/Cap was approx £66m (excluding any Warrants)
Today the M/Cap is less than £8m……….. a huge erosion of SH value over 5 years. What next, a Placing, more of the same lackluster performance.
I do not doubt BLOE could be massive, but I think PH has had his chance, zero credibility and fresh blood is required.
With better leadership I can see a startling turnaround and a possible M/Cap of £250m within 3 years, without that change we will bumble along…………
Not belittling PH efforts but that video is 8 months old, you forgot to mention that small detail.
Lets see what he has to say on the 11th March, then we can all decide
Lots of gas, agreed.
The reality of changing from explorer to producer is a huge step.
Planning, logistics, EIA’s, cash flow and long term sales agreements are a few of the issues facing our CEO, plus a credibility issue.
New blood brought in maximise our asset with a proven track record.
Ram Head has been assuming greater significance in the context of European security and diversity of gas supply as a result of the Ukraine-Russia crisis. In particular Ireland's requirement to independently meet the 80% gas storage guidance milestone set recently by the European Union for winter 2022/2023 has to be assessed in terms of how this will be achieved in the short- and medium-term.
The Ardmore field was previously discovered by Marathon Oil in the 1970's but not developed after testing gas at a rate of 8 mmcfd. The discovery well 49/14-1 was drilled at the gas-heavy oil contact which impacted gas flow rates. The Company's internal preliminary scoping storage capacity is targeted at 12 BCF with a maximum send-out rate of 80 mm cfgpd.
In 1998 RDS Resource independently assessed the Ardmore gas field as being capable of being developed by two wells, which based on P50 gas-in-place of 148 BCF, gave P50 gas resources of 47.4 BCF and P10 gas resources of 77.3 BCF based on a 30 mm cfgpd initial production profile.
For gas storage operations, 4 to 5 production/injector wells would be required but development costs could be financed by the blow down of gas in this virgin field to create the gas storage capacity.
The much deeper Jurassic gas reservoirs discovered by Marathon Oil in 1984/5 have the potential to create a larger gas storage facility in the future should the Ardmore gas field be successfully developed as a preliminary gas storage facility.
Gas storage is a critical element of security of energy supply.
Let’s not forget RH….. Marathon discovered gas there nearly 50 years ago, one by one our assets will be sold to deep pocketed majors..
BRV - Thanks for your thoughts/outlining our possibilities
HartleFOOLbob, you simply have no idea, back to your turnips.
You and all your chums are clueless, simply no idea, you see me as a trader, how wrong you are.
I see huge huge buys, are you so simplistic, this is the super smart money.
I have become far more cautious as time and history have proven PG promises one thing, then he moves the goal posts, again and again.
I have healthy dose of scepticism built in to every promise/RNS
You and your chums repeatedly calling me a trader, trying to influence the price is rubbish, how little you know of or understand the market.
You sit in your turnip field wearing your rose tinted glasses.
I shall continue my slow but steady accumulation, sceptical until we have a series of positive RNS.