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Zhende ma?

EDR announced today that Shell has walked from licences P1929 and P2304, which contain the Endeavour and Resolute gas discoveries. The licence are not far from Selene and very close to Pensacola. Not exactly the best read across for DELT.

https://i.ibb.co/x5kXQxW/DELT-05.jpg
https://www.londonstockexchange.com/news-article/EDR/withdrawal-of-shell-from-p1929-and-p2304/15424505?showDisclaimer=false

EDR announced today that Shell has walked from licences P1929 and P2304, which contain the Endeavour and Resolute gas discoveries. The licence are not far from Selene and very close to Pensacola. Not exactly the best read across for DELT.

https://i.ibb.co/x5kXQxW/DELT-05.jpg
https://www.londonstockexchange.com/news-article/EDR/withdrawal-of-shell-from-p1929-and-p2304/15424505?showDisclaimer=false

Monday is the 2nd and it's a bank holiday. Tuesday 3rd seems a good shout for news.

Follow the geology? Head says yes IMO.

EOG is not all about Serenity you know. This has huge cash flows from Wressle and oil is over $100/barrel.

+1.4%

Jade on the other hand is a full on exploration well. If successful then we book a brand new discovery and if it's as big as suspected it should be hugely transformative for the company. GLA

I think MATAD's Heron-1 was actually a step-out appraisal of an existing discovery that had already been made in the adjacent block. Very handy for MATD, but not exactly unlocking something unexpected.

A SP can do many things, particularly in the short term, but it doesn't alter the fundamental situation. This and BOR reacted to the much anticipated announcement by RKH last week that Navitas has taken over HBR's tranche of Sea Lion. In reality the update was actually pretty lackluster, more a case of keeping the lights from going out and it remains very uncertain as to whether the Sea Lion development will actually go ahead. Easy to interpret moves in ARG and BOR as confirmation of greatness, but most of the move is just the diabolical spread on tiny volume.

While it's sensible to look at all UK related oil investments in light of the Russia situation, should the global geopolitical situation deteriorate further, then the UK's tenuous grip on the Falklands looks like it could once again come under threat. At this juncture, I think there are far safer places to invest hundred of millions in oil developments than out on a limb in the South Atlantic.

Could this and BOR do OK? Sure, anything is possible, but there are a huge number of ifs to sort out between now and then. If you want a small long term punt or want to play the volatility, which is not my thing, then go ahead, but at present I have success here as a very low probability outcome. You may get lucky or you may lock your money up for a long time and get nowhere and miss out on investments elsewhere. That's the choice. We look at the situation and make our judgements as best we can. Best of luck.

A SP can do many things, particularly in the short term, but it doesn't alter the fundamental situation. This and BOR reacted to the much anticipated announcement by RKH last week that Navitas has taken over HBR's tranche of Sea Lion. In reality the update was actually pretty lackluster, more a case of keeping the lights from going out and it remains very uncertain as to whether the Sea Lion development will actually go ahead. Easy to interpret moves in ARG and BOR as confirmation of greatness, but most of the move is just the diabolical spread on tiny volume.

While it's sensible to look at all UK related oil investments in light of the Russia situation, should the global geopolitical situation deteriorate further, then the UK's tenuous grip on the Falklands looks like it could once again come under threat. At this juncture, I think there are far safer places to invest hundred of millions in oil developments than out on a limb in the South Atlantic.

Could this and BOR do OK? Sure, anything is possible, but there are a huge number of ifs to sort out between now and then. If you want a small long term punt or want to play the volatility, which is not my thing, then go ahead, but at present I have success here as a very low probability outcome. You may get lucky or you may lock your money up for a long time and get nowhere and miss out on investments elsewhere. That's the choice. We look at the situation and make our judgements as best we can. Best of luck.

Absolute p_ss take. Cheers Gil.

Taking the last balance sheet and adjusting for changes since then I get $746K (current assets) minus $43K (current liabilities) minus ($205K / 6 x 10) (ten months admin) gives a net current asset position of $339K or £260K without accounting for any other expenses since last accounts. ARG clearly needs to raise funds to keep the lights on for another year.

RKH has 35% of a major oil discovery. ARG has 100% of some 3D and a piece of paper. HUGE difference.

Sorry, but 30p is over £70M market cap for ARG yet RKH is only £40M. As things currently stand, why on earth would anyone pay 1.75 times RKH's market cap for ARG when RKH has a huge share of the Sea Lion oil discovery and ARG basically has a piece of paper and some 3D? It's complete nonsense. Need to come back down to earth.

41.7p on TSX.

This followed soon after the other day. Are we about to get another move?

Given RKH can only manage £40M with a big chunk of Sea Lion and a farm in partner, nearly £10M for ARG looks too rich.

Given RKH can only manage £40M with a big chunk of Sea Lion and a farm in partner, nearly £10M for ARG looks too rich.

'China’s largest offshore oil producer raised 28.08 billion yuan ($4.41 billion) in the country’s 11th-biggest public stock offering. It said it would use the proceeds to fund one gas and seven oilfield projects in China and overseas, and to replenish capital.'

https://oilnow.gy/featured/stabroek-block-co-venturer-cnooc-soars-in-shanghai-debut/

Looking good.