Member Info for Mirasol

interesting - the view from 2014 - seems a very long time ago................

"Do you think there is no chance, slim chance or a highly probable chance that a high percentage of the oil being rediscovered shortly?"

Asking around and looking at commentary when Trice was banging the drum I suspect that the Industry was right and Trice was very wrong

" a proven geologist."

what, exactly does that mean?

he has a degree in Geology?

he has worked as a geologist?

he's a Chartered or Certified Geologist??

and in what specialities??

See Adrain (aka hemmings) is now bashing GL..................

"I'm puzzled as to why this most obvious option has not been pursued by Arg management."

I'd bet serious money they tried to get Premier and Navitas onside - but RKH was no good on their own as they didn't have the money to explore TWO sets of acreage. Presumably PMO & NAV felt they had enough on their plates. Plus FIG probably want as many players round the table as possible

"Perhaps Buckingham is going to fund some or all his self. "

You clearly don't understand the financial world - he is rich and intends to become richer - it will be debt and dilution for sure

"hen the water cut froze and cracked pipelines which were only repaired with Western expertise w"

You know I just have this feeling that the Russian know more about operating in cold weather than most other folks...... you could ask Napoleon - or the Germans I guess

Adrain I keep saying it - yes they have paid the outstanding hedge - but its not totally clear if they have also changed the terms of the hedge think you're right .

You have got it right I think

"The outstanding hedge from this year is now paid off not rolled over anymore."

I think you're right . GY could have ben clearer - lets pray you are right!!

"Mirasols ability to change with wind :)))"

Almost a million quid was somewhat more than I was expecting Adrian - and they haven't finished yet.................

Wikipedia

Buckingham is a former partner of the private military company Executive Outcomes.[4] A top-secret British intelligence report stated that "Executive Outcomes was registered in the UK on September 1993 by Anthony (Tony) Buckingham, a British businessman and Simon Mann, a former British officer".[5] Buckingham denies that he registered Executive Outcomes in London and consistently denies any "corporate ties" to the defunct organisation.[6]

Full coverage int today's Times

It sounds like CA aren't happy with the lack of progress on finding a buyer and are putting in people who will monetise the Company come what may.

personally I have a nasty feeling about Albion - I can't see what they actually bring to the party

https://www.superyachtfan.com/yacht/ngoni/owner/
Who is Tony Buckingham?
Tony Buckingham is a former oil rig diver who became an energy millionaire. He is the founder of Heritage Oil. Which he sold to Sheikh Hamad Bin Jassam Bin Jaber Al-Thani for US$ 1.4 billion. He is also the owner of Diamond Works, a Canadian mining company. Buckingham was previously a security adviser to various governments.

Heritage Oil
Buckingham is the founder of Heritage Oil. Which started its activities in 1992. Heritage Oil exploits oil reserves in Australia, Africa, the Middle East, and Russia. For a couple of years, Heritage Oil was stock-listed in London.

In 2014 the majority of Heritage Oil shares were sold to Al Mirqab Capital. An investment company owned by Sheikh Hamad Bin Jassam Bin Jaber Al-Thani. He is the owner of the yacht Al Mirqab.

Buckingham still owns 20% of the shares. Through his Barbados company Albion Energy Limited.
Tony Buckingham Net Worth
His net worth is estimated at $700 million. In 2010 he received a GBP 84 million (US$ 110 million) dividend.
---------------------
And, to top it all off, Buckingham also has a very interesting, controversial background in private military affairs, which media has described as a “colorful past.” The former CEO of Heritage Oil denied these affairs and any connections with powerful people but based on British intelligence documents and other findings, some sources still describe him as a former mercenary.

" Dr Trice has all the answers. Could you imagine him in the Dock?"

yes - his general attitude to any questions is well known - he'd be torn apart by a QC

HDT - you're assuming that the problem is lack of people - it is much more likely to be delays in getting a response from the buyers of any electricity and various legal and regulatory issues.

Adding people for the sake of it is not a brilliant idea - they cost over £100k a year each to the company and they are a long term investment. The reason EDR have stayed afloat for so long has been their unremitting focus on keeping costs down.

Saltfleetby side track overruns: overruns of £0.9 million have been incurred
Saltfleetby Facilities overspend: an overspend of £0.75 million has arisen

Angus's inability to forecast costs accurately (or at all) is clearly still present

Its hard to tell Adrian - they don't actually say the old hedge is still in place - all the discussion is about their failed attempts to roll the non payment for mid 2022 into 2023. However you may well be correct.

As even on AIM its what they don't say is what is really important

Valuation was talking about
"Tailwind also has more than $2.5bn of tax losses, w"

And those ANGS tax losses are money they raised from us and blew away

"I can only hope that he will be dumped at next year's AGM. "

Who will vote against him? Its all small shareholders who can't get their act together

"If there is a corporate tax expert amongst us, it would be interesting to know at what level of shareholding the tax losses can be used/transferred out?"

Tax losses offshore cannot be "transferred out" they are ring fenced to the N Sea operation

"I now know very little about it, so I'm wondering if the extra 8.33% worth having. "

Whole exercise looks like the seller just wants to get out at any price
"Aurora Production has accumulated upstream ring fenced tax losses of ca.£90 million that should be available to offset tax on future profits" TBH I've never heard of them - seem to be a small outfit based in Aberdeen but with tax losses like that they've clearly been pretty active