Member Info for pijoe1212

Just noticed a mistake in my post .. for 2c read 2p.

all i can say is LOL..and LOL...!

given the insults you have lobbed in my direct while i have tried to explain facts to you, i trust i do not see you invested in pmg (which is a proper oil co with assets and income and a future), or more importantly and specifically invest as much as you want but keep the insults off the BB.

of course it does..um...???!!!! (i give in on this subject and we have not even started on the op co overhead prior to distributions back to holding co..which is of course rbd).

i 100% agree the return on capital is great..but it was the posts that claimed this one small well would cover overhead costs that made me react...i would also note there are no "freebies" - we paid to buy our slice of this. we have also paid our slice of the wick drill..we did not get it for free. how the bod comment on asset value v investment cost and we as investors view such is just a view..nothing more.

nianjabi. once again you prove yourself a plonker first order. indivestor makes good points. even pauperbob seams to understand some of the realities. but you and ****e for brains and belicone know better (does he still do good parties?).. anyway i am not Indi..i can prove this with a simple statement...i do not invest based on credit cards (sorry indi but i quote you...!)

anyway.. i note no comment about my comment that copl currently own NIL % of essar nigeria but pay all the costs..its in black and white in the RNS..also my prior comment that Essar are on the hook for a $25M performance bond...

regarding the service co getting its money back from production..what about the first charge security to the post drill funder? (a bit of a show stopper in my view) and is there not a rather large amount of debt against first oil (essar / service provider and post drill funder)? whats left for copl?

by the way - do not forget copl do not yet own 80% of essar nigeria. they run the co and pay its costs but the SPA with essar is not yet complete. so currently they own SWA of essar nigeria.

To add to my prior post on the quality of the assets ( absolutely rubbish!), the posts about this bringing Cash flow- just how does this add cash flow? No producing assets and no cash to develop then (even if worth if!)
If I understand it correct $110m sunk into the PSC for 2/3rds of naff all results?

I am now even more interested in why the bod have gone this deal.

The 2p is 220k bls....tiny can not have been worth the cost of the cpr without even considering drill and production costs...
The 2m prospective bls can not be worth the cost of drilling...tiny quant!

The gas is over 50% co2... it can not be burned in gas engines for power ( 40 to 50% is the limit depending on engine and gas comp).

Why have Adl bothered with this deal ( I am not long or short)

Found it - csfg rns today £200k stayed for a simple aim quote with a single nomad broker.

So the 3 brokers and 1 nomad all work for nothing? This includes Roland Cornish ( the biggest downside to this stock I have found!) ? Try £3 to £5k each per month as the retainer...plus of course the commissions from placing etc. This is normal for aim cos ( except the THREE brokers..). But pls any talknof cashflow breakeven is rollocks!

These are the sort of posts I expect to read on that centre of monetary madness also know as Ukog bb.. never mind I continue to hold..

If rbd was the same co but private it’s costs would be £200k per year lower on a reported to co house ( statutory accounts) basis. Hence the cost of the aim listing is £200k ( approx ) per year.

What discount rate did you use in your calc? What balance sheet asset value write back basis did you use? What overhead have you allowed for? Or did you mean cash net back not profit?

Oh dear...you really don’t get numbers do you?
FWIW I am long rbd and have been for some time. So pls put your insults were the light does not shine.

I hold sdx and Pmg as long term. The businesses are very different and can not be compared. Sdx commercial production sharing agreements need much effort to understand( it is not just about bopd!). As pointed out Pmg has percentage only of the gas ( I have highlighted to the co they need to be clear on this point in rns), but have cash and 2c oil ..both cos need a lot of research and reading, but clearly I rate both as investments.

And you point is what? The cost of the list is the issue at the heart of my comment- free cash flow to get rbd to cash flow positive. The aim listing costs ( direct and in direct ) are a key part of the business costs. What don’t you get about that?

Or 3 brokers retainers rather than 1...

Oh dear....that is the fee to lse (aim)..what about nomad and broker costs and accountants to acceptable standard etc?

just a quick comment..i read an rns recently (one of the top fallers and i can not recall the name!)..going to delist as the costs of the aim listing was £200K per annum. i have heard that figure used before on several occassions (and often it is far more!)..as ricfle has pointed out one has to add the ceo's costs and the general overhead also..anyone who thinks rbd is at cash flow positive on current results is, in my view, financially illiterate.