Member Info for pawnsacrifice

Agree re the Chinese and happy for them to go it alone and am still a buyer not a seller but believe it would be good now if they started updating their twitter page with pics of mine development etc. Think the market could do with a bit of mollycoddling for a while confidence wise. I know i could.

Beluga still sound very keen from their website...
EXPLORATION & PRODUCTION
In our quest to become fully vertically integrated, Beluga Energy Limited is taking giants steps into carving our niche petroleum exploration and production footprints.

We continue to place premium value on highly committed E&P technical and commercial professionals, with robust experience and extensive track record within the upstream oil and gas industry. Our team comprises of highly knowledgeable asset managers and senior technical members with combined 60+ years of industry experience managing subsurface reservoir and engineering projects.

Our approach is to seek assured entrance through Farm-in into producing assets and de-risked assets nearing production, and this shall be executed through a disciplined and systematic pursuit of exploration, appraisal, development and producing opportunities.

Our immediate focus is on Nigeria and Cameroon, with future expansion into other proven basins across Africa. At all time, we shall maintain a balanced portfolio of both Exploration and Producing Assets, with near-term goal of achieving low-cost operations of acquired oil blocks.
https://www.belugaenergy.com/services/

Its more the case that they appear to have dropped the ball lucky. No mention yesterday of the contract with the Chinese which given they stopped production early this year and cancelled the two $1m/month contracts they'd rns'd before xmas to get ready for said contract isn't very good.
They're now planning to start production some time in Q1 for un named customers and are hoping to finance and build their own coke plants which is quite a change of direction presumably brought about by lack of interest from the Chinese.
Good that they're planning a further update on the gold project before year end though imo, that along with the interview to come and finals end of this month does give chance for positive newsflow and more meat to the bones on their plans for both projects.

Not selling either, there's results to come end of month and the new interview to come too so they've got opportunity to turn sentiment around imo and I dare say that wouldn't take much.

I watched that video when it came out EB. Have been holding a long time now. Well before initial production was promised at Lubu Q1 2021. Been very patient and remember well the royalty part of the interview. I agreed entirely and still do however that doesn't change the fact they also promised early production of 10K/annum this Q and it doesn't appear to be happening either.

No its two completely different things. One is the early production they promised beginning of year the 2nd that you are discussing is the exploration drilling they wanted to do alongside the early production in order to prove up as large a resource as possible before committing to a royalty deal as they didn't want to give oz's away to the royalty provider that they didn't have to.
The explo should have had no effect on promised early production/expedited cashflow whatsoever.

https://www.youtube.com/watch?v=ybC0d2BDc6A

Are you sure you're not mis remembering EB? I'm aware that they didn't want to arrange finance via the royalty route until they've proved up as much as possible but have seen/heard nothing to indicate that your claim about not wanting to pay contractors more holds water?

Below from 31st March. Wouldn't want to be called a deramper and am holding still just a few red flags with these delays imho.

" Our current focus remains on delivering cashflow within an expedited timeframe and the team in Mali are currently planning an accelerated development schedule targeting first gold in Q4 2021 in conjunction with expansion drilling."

Agreed re the gold project. Been very disappointing year there. Was supposed to come into production this Q with 10Koz/yr. Everything keeps being put back not good imo.

I thought they'd run late til the 60 day rule was explained on here too. Looking forward to Monday for news now.

In their last update they gave this advice..
"The highest price per carat achieved in the Period for a white Type IIa diamond was US$47 574 per carat for a 65 carat diamond"
Take it these would be the no's to expect given the diamond market still appears strong?

Very quiet board esp after todays update.
Any views on whether they'll get a partner or have to resort to a placing again this year?
Wondering if a placing would be so bad at this level? Might end up giving less of the project away but not up to speed here.

Ooh look a move North. lol

So FOMO has become FOBI. lol only on aim.

Funny I took the 400k as a buy this morning with it being an ordinary trade and jumped in after for a few more, was annoyed with myself for dithering beforehand as it moved the price up for me.
Would be happy if we got news after each large(ish) buy would indicate when to top up.

Beluga still sound keen which is comforting. Maybe taking time but from their site Cameroon is a major play for them going forward..
"EXPLORATION & PRODUCTION
In our quest to become fully vertically integrated, Beluga Energy Limited is taking giants steps into carving our niche petroleum exploration and production footprints.

We continue to place premium value on highly committed E&P technical and commercial professionals, with robust experience and extensive track record within the upstream oil and gas industry. Our team comprises of highly knowledgeable asset managers and senior technical members with combined 60+ years of industry experience managing subsurface reservoir and engineering projects.

Our approach is to seek assured entrance through Farm-in into producing assets and de-risked assets nearing production, and this shall be executed through a disciplined and systematic pursuit of exploration, appraisal, development and producing opportunities.

Our immediate focus is on Nigeria and Cameroon, with future expansion into other proven basins across Africa. At all time, we shall maintain a balanced portfolio of both Exploration and Producing Assets, with near-term goal of achieving low-cost operations of acquired oil blocks."
https://www.belugaenergy.com/services/

re cruickie1 share should double on the artwork alone. lol

Working with the biggest in the US healthcare industry too. Their cred must be fairly high I'd of thought for the level of partners they're accruing?
Take it they'll be comparing their ai product to these GBCA's in which case its patience is all imho.
https://www.fda.gov/medical-devices/premarket-submissions/premarket-notification-510k

Done all that blissful and am fully aware they're after other projects its the cash position I questioned re further purchases.
Recognize they've stated they had enough cash for "current" obligations back in April just wondering about cash for new projects as stated.
"The Group has cash and cash equivalents of US$8,103,000 at 30 April 2021 and the Directors are of the view this is sufficient to fund the Group's committed expenditure over the next 12 months from the date of approval of these financial statements, without raising funds in this period."

Are these getting ready for their next acquisition before spud and if so do they have the cash? Asking after the "seeking growth through acquisition or farm-in to non-operated interests in discovered upstream project" comment in the RNS this a.m.
Thinking a pre spud spike would be a good time to raise.