Member Info for RatHole

Oh dear Gazza, the terms ARE a 51% back-in right,
not 20, 30 or 40%,
these are normal CNOOC terms, hence little interest in the area despite prospectivity,
do you think in the event of a discovery they will allow the round-eyes more?
Presentation obviously fell on deaf ears,
no buying,here or in Coro, no fools those Chino's
please explain.
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CNOOC have a 51% back-in right which means it is virtually impossible to farm out and retain a meaningful stake.
Terrible fiscal terms as evidenced by the lack of anyone from majors to minnows active in the area.
The company appears in full cap raise mode
Todays RNS is bum fluff imho but has got a few long termers excited so enjoy the pump while it lasts.
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The Indo drilling result is already baked into the current SP, so downside only imho.
China cannot be farmed out under the current fiscal terms so a decision to 'sole risk' will be made mid next year imo, no need to hold for now. 4~5p buy target.
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Mid 2020. Nothing material til then. Yawn
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Late Q3 if you can read? I think you are confusing Duyung drill with Dempsey Frac coopgare. 8p to sell, Ouch.
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Appears they need to raise $15m for Indo development next year and similar for China, these liabilities are scaring the horses.
California also requires funding.
No need to buy now as you say. Worth a nudge at 4p, or when funding issues resolved.
Plenty downside fishing opportunities over the next 2 years.
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Where are Kalahari? Gazza? Big Spike?
Target hit.
May not be the bottom but a fair punt here?
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Back to 8p now, then 4.5p if that will not hold
Better odds on the pools?
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Moosh has promoted more dogs than Crufts.
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Possibly they meant Q4 2020.
Could be an action packed year with Dempsey Frac, Alvares, Anzus and 3 analogs, all free carried by Exxon?
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Ok, so the funding was voted down at the AGM but days later they raised more at the same price?
Bizarre.
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post the link Gazza

Gazza, XSTs funding for Alvarez was voted down at their AGM yesterday.
On goes this painful saga it appears.
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Gap at 4.5p yet to be filled.
A real chance in this macro setting?
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No Placing Gazza?
Yes they cut it when the SP was 11p, and fair play the placees honoured that despite the predictable smack down that preceded the RNS and will surely follow it.
More care next time Gazza.
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Gazza, you posted on Tuesday there 'would be no placing'.
How say you now?
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$323k?
Explains the pre placing selling?
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USD7m cash balance? What nonsense. Cenkos could lose their license for that kind of obvious mistake imv.
The market isn't buying it in any event.
Closed under 200MDA with only a few numpties piling in on the errant report it seems.
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jurgens you must take more care. What you provided, and 'doubled down' on is actually insider information.
Now the GCOS at 30% is not unexpected given 'nearology' but the actual chance of 'Commercial ' success will be more like 10% in my experience. This is wildcat imv and will not likely excite potential partners (after CNOOCs 51% free equity is extracted) so the reality may be that EME have to raise their own funds and sole risk a drill. No problem with that, certainly more prospective than the Californian dream, by an order of magnitude.
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jurgens is clearly another fake news freddy ala bigspike and coop
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