Member Info for NigelHaemoglobin

Three primary factors

1/ Cash position and burn

2/ Pre-booked 'talking up' session on Thurs

3/ Costly efforts to get Cloughton, EG-08 and FEL 4-19 over the line concurrent to declining revenues from Wressle.

I haven't even covered the cost of an deviated well from the Wressle production pad!

Adjusted accordingly, also I think it is both imminent and large relative to mcap.

Good try Bengo

At Xmas UOG had less cash than quite a few PI's, raised recently and already significantly below the placing price. They are in a very weak position imo. Few want to drill in the Caribbean if any.

EOG is still cheap and if a deal is probable very cheap!

Good points, thanks. I'm aware of the financial rules re exploration but missed the AGM voting info. Possibly they could take Corrib South if/when the balance sheet allows. I do not know what the detailed regulatory rules are though. Any ideas?

Well, they won't retain a huge tranche of the prospective resources but a royalty deal could be excellent. We will have to pressurise the BOD into cash distribution concurrent to dissuading them from going solo on the Inishkea FEL.

Greatest concern? The usual, cash on hand and placings.

Odd isn't it? A few years ago there was too much money frothing around: think DES, early post discovery RKH etc, micro pharmas, raving GKP briefly raised into the FTSE100!!!

Now and just maybe there are potential gems around, undervalued and boring, forgotten about. On the other side of the equation t**ds a lá PRD are worth triple EOG??

Time to cast the net a bit wider I think.

Incorrect matey, called five out of six placings before losing interest in 'The Mr Bates of the FCA'. Two placings after PRD started to bore me.

Good try though sub-par...

Indeed, and squirting high pressure sand (sandjet) into loose sand now seems sub-intelligent.

Meldew I concur and was a bit (ok very) over optimistic this morning. Without details of the farm in ratios and with no I assume completion date the market has been very cautious.

Could be K3, don't agree re stock and as ever, placing risk exists. On a positive note do you think that a worked buy is in process? Quite a flat SP response so far.

Periodic auctions now hopefully.

The best bit is that EOG had become immensely boring, the Wressle permits were painful to watch but Eggo got there eventually. Cloughton would be excellent: totally annoying that the Reform Scarborough Council are against it. At least they are not responsible for the licence.

How gutless of Scarborough though?

Https://www.lse.co.uk/rns/EOG/eg-08-farm-out-update-a2sgpfwtnr8w2g8.html

There you go! There is still hope for Corrib South here but that LO needs investment and upgrade to a FEL.

Well, we do not know the cost of any carry or dilution in terms of what will remain after any deal. Figures thrown around at 'The Old Willy' last year were on the high side in the 'likely' event of discovery.

The market is not great at valuing small oilers but 2-5 bag today on speculation seems reasonable?

Might even see a few, utterly broken by PRD turning up here!

Compressed Natural Sand, there is a huge marker for sand in North Africa following recent shortages: in fact theft of sand is rife and there is only 1*10 to the 13 million tons left.

Seriously? Are you all not fed up about having your weaners pulled by the in-crowd?

Give him a week to replace some of essentially our money back onto the balance sheet. He has not expropriated it, the bonus that is, but ethics, honesty and sheer decency should prevail.

In one week I will decide re the AGM voting...

As Helium is to struggling weaner gas expo outfits: look at PRD! Drilled a duster but dropped in a helium PPM but PPM in what? Gravy?

All this short term brown sky thinking is rank with desperation, they should have been patient, awaited initial SK legal progress and formulated a strategy in slow time.

Quite surprised they haven't attempted a placing yet. As for Hot Rockets, duplicitous twaddle...

Because the company requires money to operate during the usually elongated timeline to first pour.

I have doubts about the BTC idea, if the intention is to create a royalty type entity then this could be a good investment.

What is clear though is that in general AIM is a placings lottery. Of course who can be certain but you have to play a game with these outfits to survive.

I would say probable. Bitcoin to a junior minor seems outlandish to me: I don't understand it so therefore I'm out. An interesting and profitable ten days but without new numbers for Batangas Bitcoin seems an ephemeral dream...

Https://icsid.worldbank.org/cases/case-database/case-detail

Annulment info announced yesterday? Is this correct? If so, bit of a ratty smell...

Anyway, took a few pre lunch.

What a pile of bulls piles that post was. Reason? Discoveries ALWAYS leak. That was exactly why I chopped my punt during the week before the RNS, called it as well!

Unlike the lizard who sheepishly admitted to 'having sold a few'.