Member Info for MrJinx

Jungmana "The main reason that repsol walked away was due to the size of the discovery and priorities elsewhere."
You have quite clearly made that up. Could you please reference your source?

In 2012, when the license was relinquished, oil averaged $111..fool!!!!!

...Or we've signed Sebastian Veron!!!!

...when things aren't going to plan with the ramperstampers you soon get the 'patience is needed' posts. If Larry secures a sell-on for this project and secures say, $4-6 boe, then this will fly. However, I still can't get the niggle out of my brain about why Repsol and partners didn't give too shites about this discovery. They had ten years since discovery and seven years after relinquishing to come back to it but they haven't. :/

You're not the only one who got taken in by Conroy and his companies gobshiteness!

Are you sure you want to start being abusive 'Rift'?

As much as I believe Larry and Co couldn't sort a dogs breakfast without raising money for it, you rampy sorts have certainly put a smile on my face. 6.8p and I'm all square! C'mon boys keep it up :D

Scored against...! Did you not read the bit where Workover states that the license was relinquished in 2012? It appears that the partnership took advantage of the low oil price environment and drilled more wells to try and expand the discovery. They couldn't. Had this discovery ben onshore, 70m barrels equivalent would be an economical no brainier. In water? I'm not so sure. Any oil exploration economists amongst us?

Thanks for the insight Workover. Again, it appears one of those 'hope for the best, prepare for the worst' scenarios. The cynics amongst us may actually suspect this is just a strategy to make headlines and boost a flagging SP prior to a placing...maybe!?!?!

...on here! :)

...B R A Z I L??????

Doesn't the fact that Repsol and Dana walked away and didn't even glance back for a coy wink, set any alarm bells with anyone? 2009 the legacy 3D is from and our experts, who keep getting their analysis wrong, now think it's spectacular because of evidence from the failure at Rabat Deep...and we still keep trusting them not to guck it all up again! We should be held at gunpoint on a funny farm!!!

None of the former, lots of the latter! This could well be another project which keeps being kicked into the long grass. Had this RNS been about progress with Brazil, then I'd be dreaming that I may actually get my money back someday. But again, the caveat to that would be if Larry doesn't fund raise into any meaningful rise, which undoubtedly he would. The money in the bank, even if they did nothing else but sit on it, will only last three years at the current cash burn. That is shocking in and of itself. Still burning cash at £5m a year...it's absolutely staggering.

Oh my days!!! :D)))) So, you think 'future investment decision' means it's nailed on? :D

Give it time Workover, give it time!!! :D

...not know what '2c' means? "Prospective Resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects" Anybody would think all we have to do is stick a pipe in the ground and hey presto, "$280m please!"

Are you Wheepo in disguise :/

...However, it gives me the jitters that no-one has acted upon the data collected in 2009 until now and this action is based upon Chariots own 'in-house' expert analysts. You know, the same ones that have us already swimming in black gold...oh wait!!!

Down 7% just before news hits...not good.

I do have a funny feeling in my waters about this one. I'm sure if the update is dreadful, the sp will drop off further, maybe by another 20%. However, production is now on a continuous upward trajectory so at some point in 2019, profitability will be reached. On a risk/reward basis with the Mkt Cap only at £1.4m, investing here appears to be a no-brainier...perhaps:)