Member Info for miker444

Yes as per Jimbo66's 11 o'clock OGA post I make it 21 licenses of 100% ownership and 2 split licenses. That's pretty adventurous if nothing else.

Also knowing how astute / shrewd Steve & Sachin are at making deals it is not beyond the realms of probability that any further funding for Corallian could come at an increased ownership % wise of Corallian.

Holding the purse strings puts you in a stronger position than that of the person asking, ( just ask my Bank Manager!)

Fair point Badger, hopefully with N Sea volume potential it will only need 1 decent find to get exponential returns, and that could include gas as well as oil.

Badger indeed lol. It may be that not all of the blocks will be successful but it just shows what a terrific deal Sachin & Steve did when acquiring 33% of Corallian. None of these are factored in with RBD's current portfolio. Once that 33% was acquired we can sit back and do nothing, It's almost like a pop group receiving royalties from an old record every time its still played on the radio.

atb mate

An awful lot of blocks by the look of it :¬)

Thanks Ismalia, I just assumed PI's were using the spud date as that is definitive of the drill start, my bad. In any case a strong chance of news next week.

atb

Morning all, back from a week's hols in sunny Wales, not sure anyone has to back up opinions and chat, can I remind people this is what this board is a share chat site, the clue is in the title, erm… share chat.

The posters here, myself included, are not issuing rns releases or legal documents, just opinions and chat and their belief's. You can choose to agree or disagree but no one is bound by opinion, your choice how you interpret it.

Morning try, do you mean 36 days not 56, don't think we have run over the estimate yet, possibly news this week if drill has not hit any problems, I don't mind either way so long as we hit the gas!

atb mate

I don't think many will invest here Jace, it's just that a fair few people are 'locked' in, myself included, as we are sitting on huge paper losses.

I took the view that I may as well hold and not sell in the hope I get something back, no point realising a big loss unless you desperately need that remaining 10% book value until its all done and dusted for definite.

If I had my time again I wouldn't have invested but I have and holding, in limbo, in hope.

atb

Yes and he reiterates a total of ten to twelve wells on California, I stand by my 1500 - 2000 bopd when thy are all done, I also get the feeling that with 90m & 60m of pay the statement in yesterdays Rns regarding additional reservoirs not yet perforated there could be a significant upgrade in production volumes per well, they have said that oil flowed from all reservoir perforations within the same well of those already drilled.

Thanks Greg I too think that the vast majority including Simon expected Colter to be a sucess, caught a lot of people out, believe it was that 'success' which Simon had anticipated on to move ADL forward in whatever direction.
It did not happen but still might and it does appear ADL / Simon in limbo until Colters fate known one way or another, however if he dithers for too long though offers have been known to be withdrawn.
Just need something or a timeline for the start of that newsflow would be nice.

Thanks Mohh, just backs up what Sachin stated yesterday following the Rns, all good and what ost of us already know just wished the interviewer would have asked for an update of Colter South, irrespective of outcome it would have been nice to hear talks still ongoing to prove up commerciality / monetisation blah blah

Hi Greg, agree that something going on with Eagle Gas hence Victor Hwang / Paul Haywood and others all taking a stake, question is what or how is Simon / ADL involved in that scenario with our 14%.

You say Colter & Eagle only options, do you mean for Simon or ADL as a whole i.e would you say rumoured talk of India other destinations gone cold / unlikely or would that be part of future plans if ADL bought out etc.

Very general I know just still intrigued with BMD's 10m+ 'deal' where he stated Simon should accept in the interest of shareholders etc etc.

atb

MB when gas separator permit is sorted we will have 250 bopd net from VG-4 alone so I wouldn't worry about 10 barrels or so :¬)

Hi MB It is quite relevant when RBD'S quoted NPV figures are based on oil at $55 a barrel, so there should be a natural uplift to those figures for anything above that and $73 is big mark up, 34% in fact.
atb

Looks like we will get West Newton Gas news first whicjh should see a significant rise to the sp to be underpinned with another rise on production flow rates from California a week (ish) later.

Not many places like California where it appears you can add extra drills at will and agree with bob that with 90m & 60m pay zones a lot more reservoirs to be perforated. Can see a total not far short of 1500 - 2000 bopd from California once were finished with all the wells ( x 10 ) planned.

Yes just a couple of little snags, the water ingress which will be sorted soon and the gas permit to sort out then its all systems go.
Agree we will see some very good final bopd figures soon, what the total will be with 10 wells producing possibly by Xmas / New Year god knows.

ADDITIONAL reservoir zones from the Burnett wells that have not even been perforated yet. The final bopd could be way above expectations.

Also the cash already generated will finance the other wells that are planned.

Excellent news and full production rates to be announced in 2 weeks.

atb

Just 4m Barrels was needed for commerciality so hopefully 15m will make a buyer interested, just a question of how easy is it to produce from.

No, because if it was official then we would know, this is a share chat board and people chat and give their opinions, it's not all factual.

I believe it will come good, others don't to which I don't have a problem with either.