Member Info for oilriches

Yeah iv been buying a small amount over the last few week and they have oil reserves. dyor all the best

Is current cash levels in aey with no assets included

A few other rns state this figure also

The sale of ARNIL in April 2014 resulted in the repayment and settlement of all outstanding obligations under the Company's bank debt and financial derivative. After commission and the payment of any change of control payments triggered by the completion of the ARNIL sale, Antrim estimates it will have working capital of approximately $17.1 million. The Company will also have limited contractual obligations and commitments as noted in the table below. Extract below from accounts in April

Give me a minute mate

The share price should easily multibag based on the assets below and no bank debt

Valuation should be a minimum 13.5p based on cash and assets

Cash in bank £11million, fyne oil discovery @ 50% of 10mmbbl at oil in the ground valuation of £3 a barrel is £15million. farmout of cosmos for 3d undertaken i will add £1million. all other exploration blocks i will value at nil (note that aey have 10's of millions in tax losses). Minimum value here is a market cap of £27million circa 13.5p

Any 1 tried accumulators on football? I did a £250 five fold but only got 3 out of 5 but the returns are potentially massive if they do come in.

http://www.proactiveinvestors.co.uk/companies/news/65670/big-picture-antrim-energys-future-secured-though-us53mln-asset-sale-65670.html

http://www.smallcapnetwork.com/Enegi-Oil-PLC-standard-solution-for-stranded-fields-carry-a-price-tag-of-more-than-2-billion/s/via/35680/article/view/p/mid/1/id/130/

That's a question only the company know. i invested here based on cash in the bank. Another company similar set up to this is aey with massive upside. sro are cheap as chips but the bod are not the best. p.s i hold here also

Interest looks set to return to aim and aey look well placed to move forward in the coming weeks

Ireland Frontier Exploration Licence 1-13, Antrim 25% Antrim acquired a Licensing Option in the 2011 Atlantic Margin Licensing Round which included Blocks 44/4, 44/5 (part), 44/9, 44/10, 44/14 and 44/15 covering an area of 1,409 km2 (the "Skellig Block"). Antrim licensed, reprocessed and interpreted 2D seismic data over the blocks and identified a Cretaceous deep sea fan complex similar in seismic character to many of the recent Cretaceous oil discoveries offshore West Africa. In April 2013, the Company farmed out a 75% interest in, and operatorship, of the Licensing Option to Kosmos Energy Ltd. ("Kosmos") in exchange for Kosmos carrying the full costs of a planned 3D seismic program within the licence area and re-imbursement to Antrim of a portion of the exploration costs incurred on the blocks to date. Antrim retained a 25% interest. The transaction was approved by the Department of Communications, Energy and Natural Resources of Ireland ("DCENR"). On July 15, 2013, DCENR approved the conversion of the Licensing Option to a Frontier Exploration Licence ("FEL"). FEL 1-13 has a 15 year term, with an initial three-year term followed by three four- year terms, following a mandatory 25% relinquishment of the Licensing Option area. The remaining licence area is 1,051.75 km2. The approved work programme for the initial three year term of the FEL involves acquisition of 3D seismic over the FEL area followed by seismic processing, interpretation and geological studies. Seismic acquisition commenced on July 10, 2013 and was completed by the end of September 2013. Processing and interpretation of the seismic data is in progress. Overview of Discontinued Operations Causeway Licences Licence P201 Block 211/22a South East Area and P1383 Block 211/23d, Antrim 35.5% Production from the Causeway Field averaged 1,209 gross barrels of oil per day ("bopd") (Antrim net 354 bopd) in the first quarter of 2014 compared to an average of 3,336 gross bopd (Antrim net 976 bopd) for the corresponding period in 2013. Production averaged 1,714 gross bopd (Antrim net 501 bopd) for the three months ended December 31, 2013. Until startup of the electric submersible pump ("ESP"), oil was produced in the first quarter of 2014 in cycles to allow for sufficient pressure buildup between cycles. Contender Licence P201 Block 211/22a Contender Area, Antrim 8.4% Production from the Cormorant East Field has been constrained for mechanical reasons and averaged 275 gross bopd (Antrim net 23 bopd) in the first quarter of 2014 compared to 688 gross bopd (Antrim net 58 bopd) for the corresponding period in 2013. Production from the Cormorant East Field averaged 377 gross bopd (Antrim net 32 bopd) for the three months ended December 31, 2013. Financial Discussion of Continuing Operations

Fyne Licence P077 Block 21/28a - Fyne, Antrim 100% In late March 2013 the Company announced that it would not proceed with development of the Fyne Field using an FPSO. This followed a significant escalation of expected future development costs. The Company subsequently signed a joint development agreement with Enegi Oil Plc ("Enegi") and Advanced Buoy Technology ("ABTechnology") to undertake engineering studies and preparation of a Field Development Plan ("FDP") using buoy technology. The terms of the agreement include that there will be no costs to the Company prior to FDP approval. During the second half of 2013 and into 2014 Enegi-ABTechnology has worked with contractors to engineer the production facility for Fyne and an environmental statement was submitted to the UK Department of Energy and Climate Change ("DECC") during March 2014. Engineering work is now expected to continue during the summer with FDP approval to be sought prior to August 31, 2014. Upon approval of the FDP by DECC, Enegi-ABTechnology will earn the right to acquire 50% working interest in the licence. Antrim will remain operator. DECC has agreed to amend the terms of the Fyne Licence to allow for a FDP for the Fyne Field to be submitted no later than August 31, 2014. DECC's consent to the amendment includes conditions, amongst other things, that the FDP submission is in its final form, the environmental statement is cleared, the Company is approved as a production operator, there is satisfactory evidence of project financing, and first production is achieved prior to November 25, 2016. If these conditions are not met, or if extensions from DECC are not obtained, the Fyne Licence could expire in accordance with its terms. The carrying value of the Fyne Licence at March 31, 2014 is $nil (December 31, 2013 - $nil). Erne Licence P1875 Block 21/29d - Erne, Antrim 50% The Erne Licence started in January 2011 and is a Promote Licence with a drill-or-drop commitment. The Erne wells drilled in late 2011 met all the commitments on the Licence. A discovery was made with the 21/29d-11 well and also in the up-dip side-track 21/29d-11z well. These discoveries are not commercial on their own, but may be economic to develop as tie-backs to an adjacent Fyne production facility if that transpires. The initial four year term of the Licence expires in January 2015 at which time there is a requirement to relinquish 50% of the Licence area. The carrying value of the Erne Licence at March 31, 2014 is $nil (December 31, 2013 - $nil). Ireland

Sitting at all time low but are financially in great shape.

I think very soon debt free, $17MILLION in the bank. oil discovery with 10.5mmbbl that produced up to 4000bopd and many other blocks. to me this should be 10p and 7p of that is cash. low risk play for me

http://www.antrimenergy.com/operations.php?id=26

In the bank $17million compared the current market cap of $9million and aey have a string of assets at hand

Antrim Energy Snap up shares in Antrim, Peel Hunt recommends. The broker thinks the Canadian-based oil and gas explorer is "an attractive speculative buying opportunity". The company has discontinued all planning work in the Fyne oilfield and the resulting net asset value is 29p per share (Peel's target price)