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It would be nice CDF1 if that pushes ENI towards us even more, I'm sure they have us in their cross hairs anyway but it may put Libya on the back burner, it may not. What would be interesting is if we could know the gas volumes ( TCF ) that ENI were prepared to stump up £8bn for, may then be able to calculate what 5.56 bcf (3.89tcf recoverable ) is likely to command against it.
atb.
Agree totally, we do not have to convince anyone, least of all ourselves, as the CPR will do the talking. For me, seeing as we actually had a volume upgrade from 3.89tcf to 5.56tcf that takes away the uncertainty of if we only had the initial figure we could be sitting quite nervously, but to increase the figures suggests a hard evidence from data to be allowed to do that.
As we know ERCE have worked with us before and will be relaxed in dealing with known customers.
atb.
Shell will play hard ball irrespective but a good recent yardstick is Corallian received, from Shell, £50m for 189bcf. That equates to just shy of $1 per boe.
Even on that low price our 2.7tcf recoverable would see circa £750m ( approx ). Think we could hold out for a bit more.
atb.
0.2p is still a crazy low price, even Dunrobin could see a rise of double that, this low price allows PI's to accumulate very high numbers for not so high funds.
I hold 81m and the facts are for every 0.1p rise ( one tenth of a penny ) I gain £81k every time, CDF1 you gain £36k for every 0.1p rise, as you know.
Those are facts, plain & simple, an awful lot of people, not just you and me, will hopefully make life changing amounts.
atb.
dougb, excellent post, this is what happened to GGP ( Greatland Gold ), as a minnow with massive gold grade finds they 'gave away' 70% to Newcrest in order that they bore all the mining costs, developments, utilising their infrastucture etc. GGP could not have gone it alone and it was an excellent deal, made many small PI investors millionaires overnight, myself included.
It can and does happen.
atb.
Whilst not certain if a one off special dividend is offered that alone could be substantial for the bigger holders and will most likely prevent an immediate sell off on news of it if its a couple of months down the line before issue. Quite possibly we could have our cake and eat it. Apart from Rob who we know is holding 300m ( ish ) be interesting to know who is holding how many shares.
atb.
Grill79, more than happy to corrected on dividends not taxed within ISA, knew there was no CGT on ISA's but thought Rishi had stated recently that dividends would be subject to tax irrespective of being in an ISA or not.
Very Happy if that's the case and apologies CDF1.
Agreed, but might be worth considering, before hitting the sell button, if we, as some have suggested, could be in line for a one - off Special Dividend. If circa £300m - £500m hits the coffers then I think it is highly likely that the BOD will want to return a decent % back to shareholders, anything from 25% - 40% is possible, so could see 0.5p - 1p a share returned.
A big return for those holding a significant amount, even with tax deducted you could see a windfall of £100k+ on dividend alone with 36m. As you say feet on the ground and nothing guaranteed but it doesn't hurt to dream.
Addison, regarding the twitter post, with shares in issue, every £189m is needed for every 1p in sp. As a yardstick Corallian sold 189bcf ( 33mbbl ) to Shell for £32m so it went for nearly £1 per barrel, I remember, as an RBD holder, that investors were fuming to sell it so cheaply but my point here it gives a recent price deal to gauge it by.
We could end up with circa 598 mbbl net to BOIL if the 5.56tcf ( 3.89tcf recoverable ) is confirmed by ERCE.
Andy did state 'for the right price' so its a question of the negotiations but even £1 per barrel would see an sp of 3p ish, every 10p a barrel higher than £1 sees an uplift in sp of 0.3p.
It's all ifs and buts, however, if ERCE's CPR comes in close to BOIL's expectations we could see a few pence provided Andy can negotiate a 'fair' price, may even get a 1 off special dividend.
atb.