Member Info for miker444

Oil & Gas terms. A lot of you will know but some might not that that COS or pG is based on the individual % of success against 4 sets of criteria, i did know them of old but rock strata is one, permeability is another. Each one is given a % figure of success, they obviously can vary but will still be multiplied out to come to a final figure.

To come to a figure, in this case 34%, you multiply each % figure by the next one.

So you could have 80% x 70% x 65% x 90% for the 4 individual criteria and it will give you a final figure.

For 70% x 70% x 70% x 70% you end up with a final figure of just 16.8% CoS Chance of success.

80% x 80% x 80% x 80% = 32.7% which falls in line with Dunrobin (34%)

90% as above would give a final figure of 59%.

So whilst it looks a low % it is not applied as a % that we all were familiar with at school. Apologies if mansplaining but for the few that were not aware of this it makes the 34% better reading. The mm's know this as well.

atb.

passiton , nogamble thanks for the reply, with some holding in the millions a dividend could see a significant amount of return without touching a single share, a win / win in my book.
atb.

My point being if it is announced that if in any event a dividend will be forth coming then the vast majority of holders will do just that and wait for the payout. This should stabilise any big gains being sold in to apart from the traders imo.
atb.

passiton do you believe, in the event of a sale / jv that a percentage will be returned irrespective to shareholders via a dividend.
atb.

There will be profit takers at this level but sp should form a higher base level with each rise now so close to news imo.
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If that's the case passiton my message to Andy is " can we have $3 per boe please", (i think that'sat the right price lol)

Apologies I didn't read your post correctly, yes it does state page not found.
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Davies the link from CDF1 post @8:22 works fine, for me at least, huge amount of info on Timor Leste.
atb.

passiton thanks and apologies for time taken to reply, (late lunch).

It just needs 1 buyer mate, that's all, then life changing rewards for many, incl, hopefully, a special dividend.

I've a good mind to e-mail ENI and give them a gentle nudge towards Chudditch :¬)

CDF1 excellent response, thank you, so making $3bn+ a quarter NET profit for 2022 comes in at $13.26bn, more than enough to buy Chudditch outright with just 1 quarters worth!
:¬)

Forgot to add what funds do ENI have at their disposal, i.e if they do stump up $8bn for the Libya deal do they have any more in the coffers to make an offer for Chudditch, genuine question.

It would be nice CDF1 if that pushes ENI towards us even more, I'm sure they have us in their cross hairs anyway but it may put Libya on the back burner, it may not. What would be interesting is if we could know the gas volumes ( TCF ) that ENI were prepared to stump up £8bn for, may then be able to calculate what 5.56 bcf (3.89tcf recoverable ) is likely to command against it.
atb.

Agree totally, we do not have to convince anyone, least of all ourselves, as the CPR will do the talking. For me, seeing as we actually had a volume upgrade from 3.89tcf to 5.56tcf that takes away the uncertainty of if we only had the initial figure we could be sitting quite nervously, but to increase the figures suggests a hard evidence from data to be allowed to do that.
As we know ERCE have worked with us before and will be relaxed in dealing with known customers.
atb.

Shell will play hard ball irrespective but a good recent yardstick is Corallian received, from Shell, £50m for 189bcf. That equates to just shy of $1 per boe.
Even on that low price our 2.7tcf recoverable would see circa £750m ( approx ). Think we could hold out for a bit more.
atb.

0.2p is still a crazy low price, even Dunrobin could see a rise of double that, this low price allows PI's to accumulate very high numbers for not so high funds.
I hold 81m and the facts are for every 0.1p rise ( one tenth of a penny ) I gain £81k every time, CDF1 you gain £36k for every 0.1p rise, as you know.
Those are facts, plain & simple, an awful lot of people, not just you and me, will hopefully make life changing amounts.
atb.

It appears to be a tree shake as buys v sells 4:3, bought £400k sold £300k.

possibly dougb, but I think one thing we all agree on is that any deal will be a game changer for BOIL, some deals better than others but a lot of profit to be had for existing shareholders irrespective.

dougb, excellent post, this is what happened to GGP ( Greatland Gold ), as a minnow with massive gold grade finds they 'gave away' 70% to Newcrest in order that they bore all the mining costs, developments, utilising their infrastucture etc. GGP could not have gone it alone and it was an excellent deal, made many small PI investors millionaires overnight, myself included.
It can and does happen.
atb.

CDF1 I would wait for the dividend mate all day every day, as a large holder like yourself a special dividend approaching 1p would be the icing on the cake.
atb.