Member Info for rongo

wonder if we are going to get a parrot egg for Easter. no doubt it.

if the latest set of accounts are anything to go buy which we should be a bit dubious of, at the burn rate from days gone by, even with the supposed cost trimmings they must be out of cash at the end of this month, no production and nothing of any value to sell . perhaps MEO are going to stump up to keep the office running. still haven't figured what the million GBP they received was for in the last set of accounts.

300 GBP take the cash if you can find a buyer, no use staying in till it wont buy you a chip butty. the Parrot is dead and almost ready for the quick burial .just don't know why they gave their Puka farm in saviour a million pounds last year accounts don't explain or have I missed a page again, perhaps another cost over run which was quite normal

notice yesterday on Bloomberg, Bakken oil had touched a low of 36 odd dollars, this deluded parrot company ain't going anywhere but down the drain, at this price it cant pay the bills to keep Puka operating, (its shut in remember) need at least 60 dollars to remain solvent, it just keeps waxing, perhaps the BOD and rockpoint could consider going into the candle business.

as I have been saying the Parrot is pretty much done for, cant see how it can recover anything of value from this hopeless financial position unless oil goes to 200US a barrel, that should give them enough to pay the various office rentals and expense at the very least, perhaps a chip butty between the shareholders at the next AGM if the BOD hold one which I doubt. shakey,the truth is in the balance sheet and it is hurting so you are correct again.

global storage almost full,production increasing, price unstable, cant see anyone putting up the 6 million GBP to drill Shannon in NZ any time soon considering it would never make economic sense.. !! then add Keas failure rate to the equation for the Beluga and Mak, both high cost total failures, don't think so some how

thanks, could be a doorperson/barperson where IGS takes a beer and when they give you share tips/advice it can end in tears , not Shannon from Soho ?

sorry mate can you help me here, Kea total market cap now about 700k GBP, just enough cash on hand to survive another couple of months possibly, cost to drill Shannon well on the basis Kea is operator upwards of 6 million GBP with at best a one in 12 chance it flowed at all let alone economically ,based on a breakeven oil price to get it to economic production 50US per barrel, NZ Govt royalties to pay who in their sound mind fund that type of risk when they can go to the market and pick up already producing assets with no risk and plenty of exploration upside managed by a competent production team. now come on based on the above do you really have a case here to endorse Kea.

at these prices we have already filled our pants !!, now our Boots also, well, not for me thanks all the same for the offer.

looking at the present cash position of the parrot and its ability to survive from here unless its nailed to its perch again, IGS and the BOD couldn't raise enough money to get a hole drilled in a bad tooth let alone organise the required amount to drill Shannon

sorry you feel that way, if there was a simple answer to get some capital back out of this mess I would embrace it, after all I am waiting for the latest careful evaluation from IGS, (WHAT A LOAD OF RUBBISH) after the beating I and others have taken with Kea .I like others have sat on my hands far to long..i am sure you understand if you are in the same position ? cant get to positive at present with the oil price where it is and little cash on hand.

the parrot isn't going bust it is bust, any profit making oil company would not be bothered with the noise associated with the tax losses associated with Kea and its subs unless it had nothing better to do to fill in the day, the Parrot parent company has limited and the subs are subject to ongoing litigation, they hold the value for tax purposes if you can believe Keas releases. there will not be enough left in the company to hire a bike stand in London let along buy a studio.

takeover by Rawson,most unlikely if you read their own latest news releases, they can hardly pay their way with lots to do in front of them .IF in fact I am wrong then we can expect their shareholders to kick up a stink, buying into a dog that cant pay its own way and no real chance of doing so without some serious serious expenditure.

it is worse and deteriorating further ,short or no short no chip butty for anyone,not even IGS at this rate.

it seems to be taking Rock Point a long time to count the pennies, or is it possible that the big launch of the review that IGS described last month has failed to ignite, it certainly hasn't fired up the share price, although he did mention there needed to be, for some reason (careful evaluation), one would have thought under the circumstances it should be all hands to the pumps.

I have just noticed your post regarding Ian Brown, well (no pun intended) if you look at his track record economic disaster followed to most if not all companies he has been involved in ,hence take a closer overall look at Kea this is the common thread since IGS took the reins so cant see why there is any reason for this situation to improve as it is impossible through good management from the BOD .

sorry mate, it wont be a chip butty but will have to be a small bowl of carrot soup.. cant afford the bread, apparently quite common during WW11,the Kea situation has reminded me so muchof the Gallipoli debacle History.

its a chip butty then,no Cornish pasty this time round. dead parrot

The way its going there maybe enough left for a beer and a chip butty, bet the BOD will do that hard for a change poor old s/holders again.With some stroke of luck maybe able to manage a Cornish pasty. nah doubt it.

by the looks of it MEO is under the pump as with most of the juniors and also under attack , even the bigger guys are wondering where the cash is going to come from to keep up with their programs alive, see today Hercules Offshore Drilling in the USA isn't expected to live past this year without a major injection of capital to reduce debt due to a cancellation of a large contract,need more life rafts and a sharp increase in the oil price..