Member Info for miker444

Corallian's gaffe and reiterates my post 2 days ago that it's all about Indonesia and further deals with CAV, that's it in a nutshell, for me anyway. The only important RNS is the one due stating final stable production rates from the work overs.
atb

FB the one thing you are not is stupid so please do not pretend to be, neither are you a beginner.

Just marked them as buys from unknown

and given as unknown ( not a buy or sell ) pmsl. Not that it really matters in the bigger picture.:
:¬)

FB you are correct in as much as yes you totally misread that.

and very decent not to take their full salaries so as to keep costs down, they deserve a bonus once the already cash flow continues to build.
:¬)

Far enough Helpful, when you put it like that it's a valid point, nothing though from other interested parties RBD, UJO, BOIL etc.

Be interesting to see if they can get near the water / oil processing volume of 6500 bofpd, the historical 70 bopd was from 2,000 bofpd I believe so if declining rate can maintain at least 3% by volume we will exceed target of 150 bopd.
Colter / IPO may be just in the very early / planning stages and not enough meat on the bone for an announcement yet
atb

Been here a million times with the £500k, it's about Proof of Concept and the additional work which will / could be put our way from CAV. These 4 wells have always been about can their production volumes be increased. Looks like they can.

Yes a few 5,000,000 buys, if we can come in on or near target of 150 bopd I would expect a decent rise in sp, certainly from the current sp of 0.17p.
I am focused purely on Indonesia as it is a definite involvement, as for IPO talk of Colter or whatever the goings on with Eagle Gas if it happens its a bonus but not holding my breath they are a bottom drawer job (and then some :¬)

Would have thought an RNS perhaps? It is exactly double ( 166666 to 333333 ) hopefully not a calculator typo :¬)

Hi Greg had written off Eagle Gas, but new figures do show on Companies House, not sure what Eagle are up to, I know Paul Hayward (BLOE) on board and billionnaire Victor Hwang.

thanks chaps lets hit that 150 target and see if we get further involvement requests from CAV.

Would be nice to approach 0.2 before news, just need to hit that 150 bopd target which I think would be comfortably achievable if they can get the flippin' water injection pump churning out 6500 bofpd!

Hi Helpful
Can only see a couple of decent sized sells from yesterday and would expect it to have not only dropped the sp but as you say why the rise in the first place, water injection pump now commissioned / news incoming?

What we are experiencing is the doldrum that every share has immediately after a placing until news lands, this is understandable but the fundamentals haven't changed in that RBD is about monetisation.
I know you all are aware of that but it is easy to lose site of it.
West Newton CPR will more than likely come back with a volume of oil in excess of 100m barrels for the 45m column alone. Throw in the 74 million barrels expected in the Cadeby Reef and it is approaching 200m barrels. We have 50% of that (if the placing goes ahead).
This is why Sachin could barely contain his excitement in last week's interview 'almost impossible to understate the significance to RBD etc etc' or words to that effect.
So for me there is room for many multi-bags from here but it will need monetisation and that will not be until next year.
£20m for a potential $1bn return in WN and £4m for similar returns (pro-rata) from Parta (NPV $1.183bn).
Apart from California it's all about cashing in.
Has anyone looked at Corallian's 31st round awards and the figures associated to them, gas 20 TCF, 100m barrels + oil, historical flow rates of 6,000 bopd. We have 30 odd % interest and nothing factored in. Its a good read.
I am staying put.

Thanks again Helpful and apologies , just noticed you already stated that you informed ADL in your original post at 12:35.
atb

Thanks Helpful, interesting to say the least. I wonder if Simon is aware of the IPO, one assumes he must be.
atb

Hi Helpful, myself and other posters, certainly Greg25 have stated similar in that not only will ADL offload Colter as soon as they can it will be offered at a pretty decent discount to enable that to happen. Question is until it is proven up for valuation we have to wait before we can monetise but genuinely believe Simon will get rid as soon as he can.
The proceeds could definitely be put to further and better investments.
atb

To put in to perspective It shows just how successful Indonesia could be if we get the 150 bopd target and god forbid nudge the 200 bopd in that UKOG the british flag ship for onshore oil is quoting 200 bopd for their Kimmeridge production. We could get this from just 4 work overs.
Pretty damn impressive if they can pull it off and what total production increase could we achieveif we are let loose on the other 19 producing wells in the Betun licence.
CAV here we come, they are only the largest Fund Managers in the whole of Indonesia but it's a start :¬)