Member Info for miker444

dkok did an interesting post at 09:50 this morning regarding sp calcs with oil in the ground @$8 and nothing wrong with that except the accepted yardstick for oil in the ground is $11 if oil is at $55 retail.
I note that Brent Crude is now approaching $52 so personally I think we can upgrade from $8 seeing as how favorable onshore costs are compared to offshore and Cadeby NPV was given at $850m for 79m barrels i.e $11 in the ground, irrespective if Cadeby is a no go it shows $price in the ground was used.
So dkok sp came in at 17p, see his post at 09:50, at $11 sp comes in nearer 31p, yes this is best case scenario for 350m barrels but i would not bet against BMD's thinking at this moment in time, 118 metres instead of 65 metres, stranger things have happened.
Dividend? Yes Please.
Good weekend everyone.

The results of these drill exceeded everyone's expectations, that's an understatement. We could even eclipse Wytch Farm that's how big this is.
Right now I don't give a monkeys what the mm's do because once EWT's are completed and volumes are known the 146m - 285m barrels original estimations will be piffling compared to what we have here.
118m hydrocarbon column and no water at the moment with the options of drilling WN-C and WN-D wells which look like they could be a copycat of what we have already then monetisation will be a breeze, in fact I would say there will be a queue of companies bidding to take it off our hands.
This is now de-risked and 14% porosity to boot.
Huge enough for an IPO in my book, bring it on and roll on 2021.
atb.

Feeks, Manwell is spot on , if you look at June 17th 2019 RNS it's all in there mate.

However, the $247m NPV was for the existing pre-drill estimates and has been upgraded since to Base case of 211.5 bcf to Upside Case of 265.9 bcf so you can revise those figures accordingly to RBD if they are correct.

Base case would be $154m net to RBD and Upside case would be $195m net to RBD.

Manwell, for me whats missing is the final proof of volumes RNS of what we have / have not. That's it and when we get volumes confirmation the re-rate will be aligned to what our MarCap is calculated at.
If we get the volumes expected, between 146m - 280m barrels of oil and Gas at 189 bcf - 265bcf then we will have confirmation of the largest onshore discovery since Wytch Farm.
It's not happened yet so the sp is reflecting this, but if above does happen then we are looking at $1bn play minimum.
atb.

WN: 146m barrels up to 285m barrels of oil, imagine if it comes in at the 250m+ end and also possible 200 - 300bcf of gas. This is a $1bn + play if successful, that's without Cadeby which is a wildcard, just have to see, not long to wait now the sidetrack must be there as we speak. I expect an RNS Monday morning, if not sooner.
atb.

Truth, I think people has misread your posts and I agree entirely with you about Corallian. We are talking 11,666 barrels of oil per day or oil equivalent with 4,300 barrels net to RBD per day.
Theses figures are superb and what you would expect from an offshore producing well. It still has to be a success and flow but if and I say if it does then the value to RBD will be a damn site more than $30m if they stay for production.
Just do the maths on POO @ $40 for an annual turnover.

We're talking 36.9% of 11,666 boepd, so 4,300 per day to RBD. Per Day. I aam also happy with that.
atb.

Firstly JackD cracking post mate. Secondly if people only took a minute to look at Steve & Sachin's credentials they would see that these guys are at the top of their game regarding investment acumen.
Both have years of analyst experience with the likes of M&G, J P Morgan, Tokyo Mitsubishi, Guiness and a small Company by the name of ExxonMobil to name but a few.
Therefore I think they might, just might know what they are doing with regards to the financials and any investment dealings they choose to undertake. Perhaps they even applied due dilligence, you never know!
Then again I could be entirely wrong and should listen to posters on here with their bountiful expertise in finance and investment strategy.
Have to say it's a difficult call to make :¬)

GOBITL, I think you have nailed it mate. I work with several Pakistani people, all learned and one was with a major bank another in Pharmacy, and if I had known what I now know from their experiences of Pakistan and the sheer volume of corruption, insider dealings and positions given to who you know and not ability I would never had invested here. That said, I have and I believe their has been quite a personnel change in the PIIB structure in light of the internal goings on to which was causing the hold up, this has not all been down to Covid - 19.
So it would appear a rocket has been put up the backsides of certain positions and it does seem apparent they have been told to get on with it.
How long it will take is uncertain but we are closer now due to the meeting yesterday and I think this is what Naheed was indirectly pointing to in last weeks podcast as she was no doubt aware of yesterdays planned meeting.
Just a waiting game now, unfortunately.
atb.

Scott, sorry for late reply. There are a lot of factors of where the sp could go. I agree with a few on here that the project proposals are much bigger than initially planned, coal to gas, urea, fertiliser etc. I think it is a case of how the market will put a value of multi-billion £ project to our 12% holding MarCap wise against shares in issue.
Therefore I think the sp will rise in stages as each update or news is released, and also if/when the sheikh mou projects are announced in that we become involved in an iron ore mining prospect or two!
I do not see any value in the recent gold investment as I personally could have bought them and as a long term investor in GGP I know it will take many years and many millions to even get to a mining stage and that is with grades far superior to what Naheed announced, the truth is they were not that spectacular.
So sp could easily go to many pence once the LOI is announced followed by ( for me at least ) a bigger sp kick in that of Finance secured by China Coal.
That will be the catalyst imho.
atb.

It is certainly a definite back up after all the silence and as sure as can be is the green light. I do think we may get a blue day especially if more PI's will feel confident to invest on that news, however, the big sp rise will be on issue of the LOI and other news, which there will be plenty including additional projects with the Sheikh and MOU but until then I am not expecting a huge rise. Steady as she goes.
atb.

Bamps if Goliath comes in at 14 Billion tonnes and can be mined via block caving then absolutely will be a life producing Tier 1 even for a major.
Even at just 0.1 g/t the total mozs is just crazy, I have not added that figure here for ramping purposes but it is not inconceivable that in 2 -3 years time with GGP at the mining stage with Newcrest we could be judging the £1 mark.
atb

Yes Manwell, my point exactly, this is still ongoing.
atb.

Apologies, LSE playing up, at least from my end.

to be suitable for a flow test". This from the 4th or so paragraph in the RNS. So from a balanced view whilst this is not the bells and whistles rns updateI had hoped for, at this stage at least, it is still work in progress and a successful sidetrack could turn this on its head. It might not but it's far from over and Rathlin will be pulling out all the stops.
atb.

"to be suitable for a subsequent flow test". This from the 4th or so paragraph down and is easily overlooked but is encouraging in the face of the lacklustre rns as a whole.
A balanced view, this is not the all singing dancing RNS I had hoped for but its still work in progress and the sidetracks could / can turn this around completely.
atb.

PaddyG, interesting and note that just 5.8 m/tonnes @2.3 g/t gets nearly half a million oz's. Think GGP's MRE is going to be pretty impressive even for an initial reserve.

atb

Rubey excellent post and thanks for the attached link on Govt plans for Carbon Capture. As you state it's actually incredibly significant to Rathlin / RBD and Humber is one of the four mentioned in the same breath as BP , Shell, Total leading the development of it.
My point is it reiterates the incredible infrastructure at Humberside and we are sitting bang in the middle practically 'oven ready'

atb mate

Cheapie, Not saying I'm sceptical but if you have got the name and location of the chip shop they probably have cctv and they could play it back to see if it really is Elvis. I personally think it will be someone imitating him or just a plain old imposter.
Not de-ramping :¬)
atb mate.

Why not use a recognised established uk broker, HL ( Hargreaves Lansdown) HSDL ( Halifax ) Barclays etc. I use both Halifax and Hargreaves and have no trouble, there is a fee but unless you are trading every day it's worth it to ensure safe transactions especially where your own money is concerned. There are many others just as reputable as more posters on here will no doubt offer up but Degiro is not a name that rolls off the tongue
atb
:¬)