Member Info for oilmanmike

a mad an. do you wear yellow socks?

Are you a marshmallow?

Bear I take you point but given the circumstances and without a crystal ball to hand I STILL think Asher has played a blinder and a have no problem with them taking warrants price on the quarter day as previous indicated to conserve cash. In fact I would go further and say it is absolutely the correct. Thing to do. These are not options vested in future performance which are usually at a premium, they are in lieu of cash payments owed to directors for their fees. The strike price should
be at market on the day before. IMO this still inspires confidence because they are effectively buyers at 0.2p. As am I.

The most important thing for this company is the price of oil which is beginning to recover on hopes that the USA will somehow join OPEC+ to stabilise the oil market.
Most AIM oilers are up today reflecting a significant improvement for the oil market.
Bone heads are busy berating the issue of warrants with a strike of market price in lieu of cash
in order to save funds.
This is a perfect illustration of AIM investors. Too busy chasing rainbows to look at the facts.

The warrants are in lieu of directors fees owed for the first 6 months of 2020.
This comply changes everything.
First it is entirely appropriate the strike is at market price.
Secondly it does show confidence as they all could have had cash had they wanted
but have decided to preserve company cash in these difficult times.
I am surprised that some posters this morning cannot see this.
I guess everybody is in panic mode at the moment.
I am buying more at 0.2p
Bargin of the century IMO

Contango !!

US markets up 10% so not too optimistic short term !!
He also said US strategic Oil reserve will be filled up to
the max!! Brent $35 up 6%.
I was a buyer at $33 for the record.
posted a couple of days ago!

Totally agree BigBear.
Asher has played a blinder and deserves a second Gong from Malcy!!
Do not underestimate Asher he is an excellent CEO as as you say is fully
focused in getting Thali across the line.

Buys outweigh Sells
2 v 1
should start to move back up in a meaningful way.

Agree very confident Jeremy Asher.
Oil for delivery Dec 2021 trades at $46 a bbl.
I predict that by the time the drill bit hits the sea bed the spot price will be in excess of $44 which
should push the forward curve up a little more. Oil prices on 10th March when the report was finalised were around $31,a little lower than current levels.
This updated reserves report/valuation at $31 provides solid support for the project
going forward. The cost to farm in partners was always going to be $15m for 49% as this
is the cost of the drill. Falling oil prices over the last two weeks have reduced the current project value some but as the report shows it is still economically very attractive even at lower POO.
Asher has always been upfront and open re the Cameroon whenever he can be.
This report is a heads up as far as I am concerned and indicates the farmout process is still very
much alive. The slip in the price of oil this week reduces the competition significantly.
This is part and parcel of operation in the Oil and Gas Industry

Oil must be close to the bottom of it's CV based rout.
The Saudi/Russia split will easily be repaired once
Asia gets back to business IMO. Current OPEC agreements
expiring in March will most likely be extended and with
a limited Global CV impact and a recovery in Asia I am calling
the bottom. Shell are hiring tankers to store Oil for a couple
of months. It will not be too long before some of the bigger
Energy traders o the same. Tanker hire is nothing compared
with the profit on a $10 bounce back to $40.

It's a complicated picture but the stats from China and S.Korea shows that CV is nowhere near as bad as the global panic reaction indicates. Markets hate uncertainty and there are bucket loads of it currently.The Authorities have to plan for worse scenarios and take action early to prevent the worst from becoming the reality. Therein lies the problem.
As China gets back to work they will start to buy Saudi Crude again and the Saudis themselves will
feel less panicky. The Russians did not see a drop in Chinese purchases of their Oil and hence did not see why they should cut further.

20IQ more like. You have completely missed the last 6 months developments.
Farm out to fund drill not equity. Der!!

Bright tie for a Bright outlook!!

In a very very poor market for just about everything is a very good sign here.
As soon as JA pulls the 2nd rabbit out of his top hat this will be over a penny.
4p plus on drill success and flows > 2500 b/d. A very simple investment proposition
just nobody watching at the moment. They have all switched off.

maybe he should try children's TV. Chuckle come to mind!

I strongly suspect it will not be long before those kind of trades are a reality here.
Then later they will become a daily occurrence as the market cap expands to the
kind of number it should be. c£30m

ignore that wrong line on my Pf Lol

just stamped 10:21:41
Ticked up 55 to 60 now

Monday. Open 0.630 H 0.65 L 0.45 C 0.462 Vol 18.M. FTSE +75. Vol 1.8bn
Tuesday Open 0.50. H 0.50 L 0.45 C 0.475 Vol 21.5M. FTSE +64 Vol 1.3bn
Wednesday Open 0.466 H 0.59 L 0.419 C 0.5125 Vol 18.4M. FTSE +97. Vol 1.1bn

The US markets closed up 4% and London is owed 140 points.
Aim lags the FTSE by a day or so.
CONCLUSION this will trade at 0.65p tomorrow or Friday.
I don't really care which.
first thing!