Member Info for muscat

Here we go again, price action pointing to another cash raise.

Back in the game , probably have another go with us

we know what we know. Farm out and drilling next year. need to see about funding. Everything else is just speculation. The deal will no doubt get done . Then we can see what the true value will be. We just have to wait. I for one have added more shares over the last few weeks to add to my already substantial holding. I believe this will come good in the end and in it for the end game and have no intention of selling out until then.

D Trump. I saw that in the march report and based on those figures money could run out. No dispute on that. We have been here before and got the funds to keep going. All I say is on taking over XCD he must have some plan of action in the back ground in order to capitalize on the recent takeover. I expect there are sources of funding we have yet to be told about. Share issue probably not so easy. private placement could well be done re Houston, credit lines could have been established, private equity - lots of players in this space. We just have to wait and see. Can't see us coming all this way to fail now.

D Trump Brombard gives the link fri 9.34

Everyone is able to make their own opinions . I have stated mine and don't expect all to agree. We will all find out eventually. Thats the risk of investing in stocks.

go into Petroleum News and under article headed Lone Explorer.

guzzler1962 actually i first met Dave in London after the Tangiers failure when he was raising funds to keep the company afloat. I together with some friends put our first money in at that time. We have followed him ever since taking opportunities to trade the shares around. We are still shareholders and intend to remain so until the end game. We still have faith in the project and as said before its a exploration company and accept the risks that carries. As said before he has taken this company from nothing to where we are today. The Tangiers failure was not his having been appointed after the deal was agreed and had to choice but to run with it. He was second choice after the previous MD left ( who had intentions to pursue exploration in Africa.) the first choice having turned down the offer as he was already running a large oil company. I think he was the correct choice by the major shareholders at that time and once again with his knowledge and contacts in the oil area has brought us to where we are today. As Phrontist says he does have resilience to keep going which a young company needs.

Perhaps you don't know or forgot but Dave has taken this company from less than 100k in the bank and nothing, days away from going under to its current position. Its been a rocky ride for us all but as said earlier its an exploration business and carries all the risks. i think he has done a good job with the limitation of funds available to him. Time will tell if I am wrong but currently I continue to back his judgment.

At least he has a stake in the company and has all the way through. I think he has always taken up some shares in all the cash raises done. Many in a similar position hold very little shares and just take options for free. For someone who has turned this company around from nothing to where we are today , credit must be given where credits due. We are an exploration company - the key is in the exploration word- , and he has always made plain the risks involved. Just unfortunate not to have made the big hit todate. I believe its coming and continue to hold and add to my positions. Have traded it around and made money so can't complain. As they said if its too hot then get out of the kitchen. No one has force us to buy shares each and everyone has made their own decisions.

Obviously you have done your research, no money, no drill, need to be RNS, money run out by jan, shame its all flawed. If you did you research with due diligence you would have found what I have posted. Its not rocket science , its known as fundamental research not pie in the sky. Homework for tomorrow find out where its posted , not too difficult. If cant find it will post tomorrow unless of course someone else posts the link.

Its in the public domain and has been since 13th july.

With Harrier 1 and Marlin 1 to be drilled this winter by lightweight workover rig that can be transported off-road in pieces by tundra-safe track vehicles, versus a heavier rotary rig which would require an ice road. Depth for these wells 5000 feed and Harrier Deep for later as its some 10000 feet. Appears we are the only ones putting down wells this winter season.
So plenty to look forward too. Anyone know how much cheaper this type of rig is re other ie % terms. Appears a cheaper way to drill so maybe we have funds to do it.

Appears to be a DIY drill . I expect he has already thought about the financing of this as part of the plans in taking XCD. Its all part of a jigsaw and he is putting the pieces in place as we go along. Give credit where due he is trying to add value all the time some times it works other times it does not. That's the whole point we are an exploration company so it carries risks all the time. One thing we have come along way on limited funds, and the exchanges are littered with companies who have got no where. At least we are moving forward all the time and still in play. Bet the sp will not be at these levels this time next year. For those non believers get out now and stop posting negative sentiment as you are not wanted here.

Still worth adding to even after recent price rise. This was never going to be for the quick traders but longer term hold. Potential is massive but will take time. Just look at the prospects and more importantly the backers. They are in it for the longer term. I think $5 -$10 is very possible but as said will take time.

Well Dave pulled off another surprise. Must say has got the timing spot on. Buying new company at near the bottom of the market . He obviously had a plan B and with us being the only company in Alaska drilling this winter the focus is once again on us.- can't be bad. Don't know how much cash is available but using the cheaper method of drilling perhaps we have enough reserves to do this ourselves and should it pan out we have 100% with no sharing. At least we have another bite at the cherry and something to look forward too over the coming months. We will get there in the end just needs a little faith.

Don't forget. Buy in london could mean MM's go short and then borrow stock on asx to cover, and vice versa. Therefore the arbitrage between both exchanges means cost and currency moves. So you can see an up move in asx does not necessarily mean a corresponding move in London.

The licenses and work to date must show something worthwhile for some larger company . pp as it would cost very little.

Someone could now buy the whole company for the cost of one well.

I expect to now see a share consolidation probably around 1-100. That readjusts the price and together with a share placement again at discount. This will make the whole business look more attractive for equity partners. We need funds and this will be the way to go.