Member Info for miker444

If the north side appraisal is succesful it will be commercial, I keep looking at RBD reaction to the additional appraisal, at no notice whatsoever they stumped up £750k, that's confidence and they would have been in dialogue with Corallian with an awful lot more info than we have.
Not guaranteed but de-risked massively with the 15m surprise find, remember the main appraisal was expected between 19m - 23m and we are not far short of the lower figure from the south side alone.

If they have raised £1m and only need £200k then perhaps an announcement relating to the last paragraph will state we have got another investment on the go, sounds like some inward investment also from a third party ( support ) perhaps.
We shall see but we can't change history so no point keep looking to the past, it's done. Forward looking for me then if it still doesn't happen so be it but at this juncture in time it could, it can't in the past.

Agree Jace which is why i posted about the last pargraph in RNS stating 'support to pursue other interests' or whatever (from memory) so inclined to agree with Boom below that something else is going on which may underpin the mass exodus sp wise, to a certain extent at least.
I have read it several times and for him to include it in the RNS its sounds a though its already happened and he will update shortly, i could be wrong just feel something else going on.

BP are huge, it was not commercial for them, an awful lot of North Sea rigs were capped off by BP,Shell etc that were yielding 8,000 bopd or less as not commercial in the numbers they were interested in.
However, these rigs are now being re-opened by the smaller 'bottom feeders' who are more than happy with such volumes.
Corallian are not BP, this will have volumes commercial enough for all the parties currently involved, that's my opinion and others are free to disagree.

Considering the 1830m drill took just 2 weeks instead of the stated 3 weeks then it is more than possible they may complete the sidetrack equally early, could hear by end of next week.

Stand corrected Ihadanidea I was using the current 365m shares iissue, so you are right, that apart obviously we will get more than $7 a barrel so if $15 then nearly 6p., and that's using your calcs just to be sure!
atb

It is @3m barrels mate ( which is what I was using ) $6 / $7 will gve $18m - $21m MarCap, 4p is easily achievable if $15 a barrel is the yardstick that was the point I was making, i.e how low you can go a barrel for excellent returns.

But we have got 8% of Colter, fact. Until the oil figures come in people will be hesitant. RBD UOG BOIL have not / hardly moved sp wise even though funded.

4p will mean $6 a barrel if we get 3m barrels so easily do able, I actually think mm's know this fund raise is positive in the bigger scheme of things, after the fal out we moved up slightly when we walked away from Bunga Mas rather than throw good money after bad i.e not depositing money in an escrow account ( not that we had it )
We live to fight another day.

Analysister, it is what they do and as you say it does not get better than this. Even at 10,000 bopd it would take 11 years to deplete 40m.

minermate do you mean Wytch Farm as opposed to Wick, if so they have extracted 450m barrels to date and are now only producing 20,000 bopd with a capacity of several times that. They would jump at the chance of 40m barrels on their doorstep.
It's what they do!

minermate do you mean Wytch Farm as opposed to Wick, if so they have extracted 450m barrels to date and are now only producing 20,000 bopd with a capacity of several times that. They would jump at the chance of 40m barrels on their doorstep.
It's what they do!

We still have 8% of Colter, 8% of a possible 40m barrels. Wytch Farm can see the rig, they can get to it onshore. Let the dust settle but does not anyone wonder about the 'secured support for further upstream business' statement in the RNS. This has already been done and is an announcement without us PI's being aware.
Just curious as to what / who it is, another RNS due referencing that imo.

A £1m raise to get potential $45m, (3m barrels @$15)
Irrespective of past accounts queries that is a positive reason to raise.
It's happened we can't change it but have to see if North Colter comes up trumps, if so it will be a different scenario altogether.
We have to wait.

Last paragraph we look forward to updating shareholders soon as "we have secured support for further upstream business"
Support from whom? It's not part of this equity raise by sound of it?
I expect another RNS soon and from that statement an inward / private investment, can't be anything else surely.

It was either place to fund sidetrack or have no money to fund it. black or white. Colter has an additional 15m barrels and an expected 23m from main appraisal so next to 40m barrels in just a couple of weeks.
This will give ADL 3m barrels with a MarCap of £2m or so currently. It could be better but it could be an awful lot worse.
As Boom says switch off for 2 weeks.

Just got an impression that prior to Holes 6 - 9 Sprotts talked at length about how important it is for any explorer to follow exceptional individual hole grades with adding bulk tonnage and that in their mind is what determines a company maker. Lo and behold GGP then announce 367m of 1.15g/t and also other higher grades in the mix.
Genuinely believe GH was part of conversations with Sprotts and it was this that made his decision to take Greatland forward to a exporer / mining company in its own right.
I do believe Sprotts and others are waiting in the wings for the follow up drills at depth including the 2 large spherical anomalies to be announced and will then make a decision.
atb

The $ per oz may be immaterial. We have talked best part of 2 years of what we can command an oz, ranging £30 oz to anything up to $90 depending on ease of extraction / shallow depth / infrastructure / roads etc.

But what struck me in Gervaise's last proactive interview which I have never heard him state before was that he wanted to turn Greatland in to a very very large Company. He actually says that so it would appear that he is not looing at 'giving it away' at $30 -$90 in the ground an oz or whatever when he can turnover best part of $1300 oz, $800 oz ish prodution costs and $500 ish an oz profit.
He does state it may well not be him at the helm when that happens but GH wants to create a very vey large company.

Now it may or may not happen but it does beg the question as to what MarCap would value the term large company in the gold mining sector if you have 10m + oz's in your 'portfolio'. Why settle for in the ground when you have discovered it, its as near as having your cake and eating it. GH wants to keep it imo and $1bn is small in comparison to our neighbours valuations and would not be seen as a large company.

Just saying.

Think we have about 370 bopd with VG -3, VG - 4 and the workovers.Gives an annual turnover of $8.9m @$65 a barrel. Not profit but turnover, but still worth having.

Now that the dust has settled and taking a step back I am quite reassured by RBD immediate response, they will have been in direct talks with Corallian and will have been privvy to far more info than the content of the RNS.
So their response " Lets stump up three quarters of a million cash"
A whim? A hope?
No don't thnk so.