Member Info for miker444

I will start this post by apologising as I do not know if its the same Atlantic OG involved in Badger as is stated by Malcom Graham Wood ( Malcy), I am sure most have heard of him.
On RBD chat it states Malcy had a positive meeting with EcoAtlantic OG and is now booked for a meeting wih Steve / Sachin of RBD etc.
I am probably totally wrong chaps but we are due a resource upgrade / update from Badger and just wondered if its one and the same Atlantic, Malcy seemed upbeat so positive news, question is same or different Atlantic?
As I say apologies if this is an embarrassing post naievity wise but posted in all sincerity.

I think the mm's will take the sp up 5 - 8% during the earlier sessions to drop it back just before close on a daily basis until news, and profit very well on this, almost a licence to print money until the end of the month.
atb

Hi FB it can take a couple of days to process the impact of scenario's such as Bunga, people talk about mm's factoring in such news to the sp but in my own experience the biggest 'factoring in' is the effect on shareholders sanity and being able to seperate it from the negativity to actual reality, its what makes us human.

I too have calmed down and can see Colter is as far removed from Bunga as it can be, UK jurisdiction and regulations and an appraisal well not exploratory etc.

To reiterate my post yesterday historic drills have shown oil on 3 separate occasions at Colter, the geology is text book for oil to exist as ialso the nearby infrastructure of neighburing Wytch Farm is excellent positioning for saleability.

Colter has a greater chance of success than failure and its possible that in 2 weeks time things could be a lot rosier than they are now, won't be a game changer necessarily but may allow peeps to recover all their investment and some profit to boot.

The next 2 weeks will pass in slow motion that's for sure.

atb

Unfortunately until news the mm's can do whatever they want with the sp, there is nothing supporting it at the moment, only news will do that I am afraid so it will be a long 2 weeks, nothing anyone can do.

I very much doubt it, more that people are spooked at losing it all. With a timeline of approx 3 weeks for Colter drill seeing as it was spudded only 1 week ago today there can be no knowledge to anyone of a success or duster, it's too early even for those drilling. I do understand people selling out of fear and I toally respect that but my view is to sit tight as the COS is greater than 50/50 and it's only a couple of weeks away afterall.

What goes in our favour is Wytch Farm as you know has produced 450m barrels to date has depleted its known resources considerably and would suspect, certainly hope they would want to increase their stocks. Colter expectation is best part of 25m barrels and can be produced onshore from Wytch via sub sea horizontal wells.All the infrastructure is in place.
Shouldn't be a problem finding a buyer.

The possibility of an IPO was dicussed at length by Reabold CEO Sachin Oza at the Investor evening on Monday night, either way what kept coming across was Corallian would sell / IPO with immediate effect if Colter succesful, so we could see a significant rise in sp which would go a long way to correct the recent disappointment and doom.
Here's hoping.

totally agree Jace best to walk away and anyone who moves the goal posts imo will have no conscience whatsoever in moving them again when it suits.
Word has it if Colter is succesful then Corallian will be looking for a very quick sale probably via an IPO, if that is the case then the money would hit the bank account very fast and in one lump sum therefore sp would have to fall in line with new revised MarCap.
And yes it has to be succesful.
atb.

Fully understand the disappointment of Bunga Mas but there is a better than 1 in 2 chance that Colter will be successful.

RBD (Reabold Resources ) have 16% interest in Colter, exactly double ADL's 8%, their NPV estimate worth to them is $56m, so ADL's would be circa $28m.

Remember 3 historic drills penetrated the structure and ALL found oil.

More importantly recently processed 3D data has identified significant vertical relief up - dip of the discovery wells the same geological stata as Wytch Farm literally next door hence the 58% COS figure.

It's not a cert as nothing can be but it's more likely to be successful than not, we will soon know.

atb

Irrespective of the Bunga outcome, (I suspect we will not proceed), it is best any final decision on it is factored in and out of the way before Colter news, don't need a second negative whammy, best to draw a line under it and move on.
Colter and Badger under UK jurisdiction and Regulations so no Banana Republic shenanigans.

Bunga a disappointment at this stage obviously but Colter with a 58% COS will turn that MarCap to double figs £10m+ if succesful and sold off so the very minimum sp 2 - 3p, worth waiting a couple of weeks for imo, a chance to buy in cheaper.

Hi TomE I read it and took the view that if anyone was expecting an average of 5g/t they would be disappointed, you would be but was that realistic as an average. The grades are not as high as HAD005 but as Gervaise and Sprotts all point out it backs up that we now have scale and bulk tonnage to add to the previous high grades of HAD001 & HAD005.
Also we have only scratched the surface of the 2 large magnetic bodies highlighted in the 3D surveys.
In my view what we didn't want was to hit no grades at all after HAD005 and we have not done that, we have actually hit what looks like a decent cobalt find throughout all of the drills and peak copper at 12% so the next drill campaign all important.
Bring on March and let DDH do their drilling, 2 rigs already in place with provision for additional if needed.
atb

Yes I was a little surprised at being allowed to buy the volumes so close to Spud and as you say there had been restrictions. I said yesterday I didn't expect much reaction in sp from Spud as it is another necessary procedure in proving up, that's when the sp will pick up.
Bunga Mas as you say anytime soon and I am still excited by the sheer volume of gas Badger may have.
atb

Oops! Apologies Flightman.

Hi Flightman its Negotiated Trade, my 3 buys yesterday were all NT and all it means is you are not given a definite price to accept there and then i.e you can't click on accept to do the deal with guaranteed sp. The price is set by the brokers who get you the 'best' available sp at the time( in theory). It leaves you not knowing what sp you will end up with, hence I paid 1p, usually denotes shares are at either end of the spectrum in demand or not wanted at all.

Thanks chrishutch, that's my view also spreads the risk.

No problem PDMS just that Colter links RBD,ADL,BOIL as many of us are invested in some or all but hear what you say.

Thanks homebrew, i appreciate this is RBD board but obviously ADL and BOIL linked via Colter hence the question, I am also in ADL to spread the risk ( not all eggs in one basket etc) and ADL like RBD have more strings to their bow, Bunga Mas you mentioned but also Badger in N Sea (potentially largest undisclosed gas find to date)
Just need a sucessful drill outcome on Colter to get the ball rolling.
atb

Boom as always mate appreciated and thanks for the explanation of Bunga Mas, any one of the three could make some serious profit for all of us.

Mike

Anyone invested here also invested in ADL or BOIL