Member Info for oilriches

10% up

going on here with the rise? Oil price and sentiment returning?

paid

That cash value is £70million and sey have a cash value at 30P when will this correct to at least cash value???

is on the move

2K i am getting offered 18p

stock available to buy

paid

I am not sure why we have such a disconnection in the sey share price at the moment but this is how i see the value. (1) circa $100 million in cash. (2) Cameroon: Ntem where sey have a 100% stake nil value (3) Madagascar: Ambilobe where sey has a 50% interest. again i am not going to apply any value to this asset but sey have a $15million free carry on 3d that i will include. (4) Madagascar: Ampasindava i will add no value to this 30% block but sey have a $28million free carry that i will include. (5) Somalia where sey are carried free for their 40% interest on 2d and a drill. A drill in Somalia is $25million so i will apply a $12.5 million value in that asset. I will not include any of the companies producing assets with the current oil price environment. My valuation here is $155million circa a 50p share price.

Hold a good holding here now

Get in. I have just put a £20k buy order in

To bail here before we lose all.

Having said that there is the probability that we could all make some good money via primary bid if the shareprice keeps ticking up. Oil price going back up and puka 1 and 2 back online and 3 million in the bank could see good gains. If this is circa 1.5p before placing closing date its a good bet

Is if the shareprice is circa 1.5p, would investors jump on primary bid for a healthy profit?

Only reason they have done with primary bid is because they are unable to raise any funds or sell assets. All this funding is to pay wages, no way £3 million will cover drilling costs. looking at the history with this management, I am walking away from this offering

This have no activity at all on the cards

I seem an article that the transaction will be approved by this Friday - 3 bagger if it happens

I think the approval is on its way

5.48 just in

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