Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
baits
Posts: 9,272
Price: 1.525
No Opinion
RE: Do not forget guysToday 09:02
PHILBORO, I was lucky thats all never expected this RNS in a million years.
Baits generally we have not agreed but I have to say you are bang on here. Even I never expected such a catastrophic RNS
£ 7 million quid ??? Looks like they go their sums wrong again - and still "10 days Drilling after 5th of January - in other words they will be well over 5 week late!!!
". The thing is, if this is such a money spinner and great chance, then why has nobody taken it yet? "
First thing was the political issue that has been less noisy recently but it is still lurking - not many companies are willing to take that level of political risk
Secondly - its a long way from anywhere and the logistics - having to operate out of Europe put people off
Just as Sea Lion was proved up the oil price cratered and stayed low until last year - there were plenty of other investment opportunities close to home if you wanted them - the number of rigs in the N Sea for example collapsed during those years.
"Says our new deramper Mirasol "
and neither have you Adrian - you stalking me again?
"I see Ruth has now started to post on ARG lol."
another small oiler who intend to sell out for Canadian paper in a private company that no-one will be able to trade - even worse than the UK operating small oilers TBH. Really Adrian you should DYOR
I think we all have a pretty good idea who cor19n33 and J hemmings are - turning late up on Friday , either all or almost all their posts on this one stock, abusive..............
and 'spoons isn't even open when he starts
This is the big question - if you hold JHI stock how can you sell it?
It won't be quoted so there is no market, no market maker and no hope of finding a buyer for the tiny percentage of the company you'll hold as an individual
The only thing is it may, just may, come good in a few years and they float
" Exxon Mobil has applied for an environmental permit to drill up to 12 further exploration wells on the Canje Block offshore Guyana during 2023-2024, according to Eco (Atlantic) Oil and Gas."
I'll believe 12 wells when I see it................
"Industry will be watching as with the Pensacola Deltic drill."
thats offshore - it has zero relevance to the onshore
or have you missed the last 35 years of oil company involvement in the UK -= get out of the onshore
"If that's the case, Why are you here then"
I've been in AGR for years - I hoped they'd drill after Sea Lion was discovered. I wrote off the investment years ago but its was never worth selling the shares at the SP prevailing. It's like owning a lottery ticket or a premium Bond now - its worthless but there is a very very small chance it might hit the jackpot.
RKH is slightly different - they have a large asset but can't monetise it - I've been in and out several times - right now I'm out but will probably go back in when the FDP fro Sea Lion is announced
"I also think RKH (which I own) and/or Navitas could make a all-paper counter offer."
I'm sure ARG have been talking to both for years - but no sign of any serious interest. And FIG will probably want to keep some degree of competition in the N Falkland's Basin.
"However, if Exxon strikes oil in Canje,"
problem is they've drilled two wells already and not found anything whereas they can't miss in the next block . That suggests the geology is different - so they won't be going back soon to drill a third well IMHO.
And have you ever tried selling stock in a private Company? and one in a different country?? Its damn near impossible
"Leopards don't change their spots do they."
I'm not impressed by most small oilers if that's what you mean - they're a sink for PI's cash BV as any look at the SP graphs will tell you. Occasionally you might get lucky but overall it's extremely high risk - you've seen that Argos are going to quit AIM and swap stock for paper in a private Canadian Company? Another failure on AIM.
But I'll correct anyone who s talking technological nonsense whatever my opinion of the management