Member Info for miker444

Mornington-oz that would be a dream sp but with 25bn shares in issue we would need a MarCap of £2.5bn. If we get news of a huge uplift in tcf from Chudditch-2's 149 metere gas column the we could get several pence and also it will depend on the deal Andy Butler strikes up with Tier 1 operators, hopefully.

Still think Andy has big ambitions to not just go for a total sale but secure a % of production revenue, even if 10% - 20%.

atb.

On June 21st?

I think it's fair to say that most assume, myself included, that a Director will have money to burn and a lot of spare cash but quite often is the case that people live within their means and cut their cloth accordingly. I have some affluent friends who are on enviable salaries with large properties and impressive motors but are maxed out in keeping this lifestyle and are not 'cash rich'. The Director has stumped up £5k, not a fortune, but a move of confidence nonetheless and may well top up in tranches further down the line.

I agree with SprintRS that the rns's are not earth shattering but I see it as Andy Butler keeping to his word in keeping us shareholders informed with regular updates, true to his word and something the 'other' Andy did very little of.

atb.

Crabby when Chudditch-2 is drilled mate, simple as. We have a lot of news before then, just take a little time in reading the last couple of rns's and look at Baron website and latest presentation. That will give yiu a good handle of where Baron is currently placed, I would say that is a better approach in deciding whether to invest here as opposed to anything I say or other posters.

Wasred I quoted my own opinions of Chudditch-2 having a multiple of nearly 5 regarding the gas column depth of Chudditch-1, i.e 149 metres as opposed to 33 metres and we know that Kelp is similar strata formation and basically next door. It was not a ramp and may be considerably less but if posters want to believe there is less gas in 149m as opposed to 33m then that's fine, it's all opinion but we do not have long to find out anyway.

The 1p - 3p is relevant for Chudditch-1 all going to plan and basically a sale, if Chudditch-2 comes in with 'scale' then it could well be more, impossible to put an accurate figure on it but it could be more than 3p. Either way it will be multiples of where the sp is now. I just have a gut feeling there are more options than a straightforward sale for Andy Butler and he will consider a deal involving a % stake up to production.

It all depends on the size of Chudditch - 2 ( If successful ) We have possible 2.7tcf recoverable from 33m assigned to Chudditch - 1, that's just from a gas column of 33 metres, Chudditch-2 has 149 metres so nearly 5 x the size in gas column depth. It has the potential of rivalling the Kelp field estimated circa 10 - 14tcf.

Not done yet but if the drill is successful Dec / Jan time then we could be looking at sp of several pence and a nice one off Special Dividend to reward existing shareholders, some of whom have been holding a fair while.

Whilst the BOD hold shares then a dividend is likely imo.

atb.

This 9% rise being sold in to by the day traders so yes easier to buy now but hopefully in a few days time with positive news / funding etc we could see 0.2 - 0.3 sp.

I bought 10m with no problem and then several million in smaller tranches, do as per Odins post and you will be fine, there are 25b shares in issue.

atb.

Do we have to have an RNS by JUNE 18 as the following was included In the recent RNS...........

"Hence the Company will automatically progress into Contract Year Three on 19 June 2024, and does so with confidence around its plans to drill a key milestone well on Chuditch, subject to securing drill funding."

Automatically.

'As part of improving and extending its Investor Relations Baron CEO Dr Andy Butler will today give 2 video interviews on Proactive and Directors Talk platforms'. Looking forward to that.

atb.

My opinion is that the front runner is ENI. We have already had assistance from a 'nearby operator' which reduced the costs significantly of the sea bed survey to locate optimum drill location. Are they already in the picture in that were the significant reduction in costs due to them helping with a freebie / gesture of goodwill? ENI are Italy's largest Oil production Company and they have the financial muscle to assist any works in the knowledge they get access to several tcf of gas as a result.

They are also next door, their license bordering ours. Really convinced its ENI.

atb.

Jarvy wholly agree,

"Liaising closely with other operators in the region" was stated by Andy Butler and one of the reasons our recent seabed survey came in 'well under budget'.

Just ask the question why other operators are so willing to help / advise when in theory they would not want other operators taking the spoils.

The obvious answer is because they are already in talks with us and wanting to become a joint force.

atb.

Jarv excellent post mate particularly your last sentence which is pertinent to the last sentence of the recent rns.

I can't be the only one that believes Andy Butler's comment on a pipeline of material ( means they exist ) new venture opportunities is also connected to his recent comments on 'very interesting talks regarding funding' or words to that effect.

I think now that he has been approached, more likely in my opinion by ENI due to their license next door, with suggestions of not only going in with a JV for Chudditch-2 but to then 'partner' ENI or whomever to continue a 'relationship' in working together on other projects seeing as, and agreeing with your comments, we will have a shed load of revenue at our disposal to be able to commit to such a programme of works.

I think we are much further advanced than just in talks of JV Funding. ENI do not know what they have yet in their license next door but they certainly know what Baron has in theirs and will see a huge opportunity in getting a foot in the door as a means to the start of a lot of activity, with us, in an area very rich in hydrocarbons.

atb.

Irrespective of how long before news it may well be that Andy Butler has, in his words, "Some very interesting discussions regarding funding....", decided that it is now time to put possible options of those funding discussions to financial astute people who can cover all the fine detail and ramifications be it contractual, legislatory, regulatory or conditional.

The new BOD appear to also have previous extensive experience in deal making and with Andy Butler in tow will give quite a formidable team going to the 'negotiating table' and yes, maybe, that time is now upon us.

atb.

Jarv & VT totally agree the emphasis on the new arrivals is heavily weighted towards the financial aspect which suggests Andy Butler is very comfortable in overseeing the decision making of everything else, a sure sign of strength of leadership in his own ability.

atb.

Tradedesk, seconded, good posts, I don't normally hang on every word a CEO says but there is one word Andy Butler added regarding funding which could be open to debate. He doesn't just say we are in discussions with funding partners but uses the word 'very interesting' e.g " having some very interesting discussions with funding partners".

Might not seem relevant to some but if it was straight forward funding I'm not sure you would need to use the words 'very interesting' which suggests to me there are some variables / options that are being offered alongside the funding.

The obvious one is we retain an interest in a % of production, despite, as others have already correctly stated, we are currently an investment company only, or be offered what I would describe as 'royalties' / receiving a % of the profits ( as a sweetener to a deal) from the production company.

Could be wrong but I have watched the video a few times and as he makes that statement I can see him thinking we have more than one choice in making the funding deal.

atb.

Oops hit the button before i finished the post, was just going to add the sp will move solidly and not retrace as more and more news de-risks Baron Oil.

atb.

VT just need the rig news to be announced which should be the next update and this will start to rise, JV before end of June /

Doesn't matter, 149 metre gas column is huge, Chudditch - 1 potential 3.2 tcf recoverable from just 30 metres. This will give double figures tcf imo possibly bigger than Kelp's estimated 14.5 tcf.

Just a question of time, anyone not adding at this level will miss out on a lot of upwards movement in sp, even if its not overnight it will happen and is happening.

atb.