Member Info for ryn82

Well that RNS just shows lack of attention to detail, from 2 lawyers on the current board. Errors on basic principles. This board just need to go, will be voting for the new board without hesitation.

Looking decent the last few days. I like the new oz silver and Iron ore projects so i am in.

cash of $2.7m, disposal of celadon for $4.2m Gobi Coal and Moly World the main investments left, which should attract similar values as Celadon. That gives around $15-20m. Ords get 20% so say $3.5m or £3m. Then its whether there is any value for the other assets and if there is any merit in litigation for the clear unlawful use of shareholders cash by the previous board which must be over $20m. Finally post the disposals there is a cash shell with huge tax losses. Interesting that this is classed as an investment company......similar to PIRI.....I think. One of the evergreen types.

News out of the blue and a decent sale value for Celadon all considered. Great news!

From twatter

#OPP just sold Celadon coal asset for $4.2. This cost $13m back in 2011. They also have Gobi Coal (cost $15m) and Moly World (cost $10m) to sell. Similar type deals and that could be another $10m in disposals. Add that to cash of around $2.5m. at £400k market cap this is cheap!

You sound like a right grouch - enjoy yourself lol

3) Moly World (Mandal project JORC complaint 256k tonnes of molybdenum) – 20% interest
http://www.asiaminer.com/news/latest-news/6172-positive-study-for-mandal-moly-project.html#.XcF0i252vIU
At the time of the study moly prices collapsed from $25k per tonne in 2014 to $15k per tonne in 2017. Prices have since rebounded to $26k per tonne. Therefore the project economics are probably about right today as they were in 2014 at $80m NPV with a modest $44m capex. In August 2017 Moly World was granted a 30 year mining licence.
Another thing to contemplate is the misuse of fund by the previous board. Noting this statement from OPP
“The Company has continued its efforts to recover the Company's books and records. Several of the Company's former directors have been cooperative in this regard but the two founders have not. This is a matter that continues to be dealt with by the Company's lawyers.”
Looking back over reports would suggest that aside from the interesting investment decisions, fees of over $16m have been paid which are connected parties. This of course sounds fishy, so would it be a surprise to see some form of legal action coming? The fact that OPP has not been wound up and liquidated privately could mean so, and if so that’s a large sum.
In the last report OPP also go on to state that after the remaining assets are auctioned off
“the Board expects to call a shareholder meeting to determine the future direction of the Company.”
It would seem as though OPP will then become a shell which may offer something for the future also, not the least attribute a shell value to the current offering.
It is also worth noting the pref/ords split. This is essentially pegged at 80/20 upto $15m then 44/56 split.
So what could be the upside for ords (which are what you are buying here)?
Market cap at 0.2p = £750k.
Cash $2.7m
Celadon $9.8m
Gobi $5m
Moly $1m (a simple guess as no information available)
Total $18.5m
$2.1m has already been redistributed of the $15m. Therefore $12.9m remains at the 20% split with $5.6m split at 44% to ords.
That’s gives a nice $5m value to ords, along with a cash shell value going forward.
If OPP manage to bring the previous board to book and manage to obtain any of the $16m+ fraudulent fees then fantastic.
At 0.2p the OPP ord shares are valued at approx $1m. You could argue that the cash and cash shell value covers the current share price with a lot of upside available.

Following the $2.1m capital redistribution in October 2019, the company have cash of $2.7m.
The focus is now on disposing of the unquoted assets. As stated in the recent interim report a liquidity event is scheduled for November 2019 for the Celadon investment with the remaining assets to be auctioned by the end of the year. Realistically the Gobi Coal and Moly World assets are the significant assets to be auctioned. So the question is what could these be worth?
Celadon and Gobi are private companies with large coal projects in Mongolia. There is a scope for optimism given that Aspire Mining on the TSX are capitalised at c$40m (c$55m approx fully diluted) with the Ovoot mining project. Total resources of 281m tonnes and total reserves of 255m tonnes, C1 costs $81 tonne and $758m NPV, capex $275m (including $165m for roads).
https://aspiremininglimited.com/akm/wp-content/uploads/2019/03/190315-AKM-Investor-Presentation-vFinal.pdf

1) Celadon (8.9% interest) – Celadon is a China focused coking coal mining and development company. Through its Chinese subsidiaries Celadon owns three coal mines and a substantial exploration area in Heilongjiang Province and Chang Tan West which has total reserves and resources of approximately 1.05 billion tonnes in Inner Mongolia Province, northwest China. The last report states a liquidity event in November 2019 at a substantial premium to the carrying value. Celadon advised the previous board regarding a liquidity event a few years ago in which the advice was that +/-20% of the carrying value at the time which was $9.8m.
2) Gobi Coal (10.8% interest) – has two projects Zeegt and Shinejist with total resources of 318m tonnes and total reserves of 95m tonnes. At usd$1.7 per tonne, Gobi have previously stated a value of usd$400-500m, however comments have been that the most recent NAV available is usd$50m, although from when I am not sure. It’s worth noting that the Shinejist project is already exposed, stripped and ready for mining. There are also reports that Gobi acquired a large Uranium licence in Mongolia in 2017 and had planned an IPO to the value of usd$750m.
https://www.marketwatch.com/press-release/gobi-coal-energy-acquires-advanced-uranium-project-and-plans-public-listing-2017-02-28
Whilst this sounds a bit fanciful large deals for Mongolian coal mines do happen, there is news of the state owned Mongolian mines IPO’ing for $1bn for up to 30%.
https://www.bloomberg.com/news/articles/2019-11-01/mongolian-coal-giant-is-said-to-select-banks-for-1-billion-ipo

Got a link

ERIS are well set with market cap covered by cash, Abbeytown looks like a shallow commercial project with discussions on a JV ongoing and Centerra footing the bill for Scandinavia exploration to find a 1m+ oz gold project. I have looked at Sakiatieva and there is some decent info out there with a Finland Geo survey available on prospectivity. These surveys are usually quite conservative, but it goes on to say that there is potential for significant mineralisation based on drill holes and historic workings. To me it looks a very promising prospect and look forward to an update with what the ERIS JV team have looked at. It is only going to take one piece of good news, Abbeytown and Sakiatieva are front runners. Not to forget the backing of billion dollar company Osisko Gold Royalties.

I am sure that little ERIS are going places and soon.

That is the bones of it Stalin. The next few RNS releases are going to set the tone here in terms of what we have, direction and ultimately if the company is doing enough to get the retail market excited and onside.

Its clear that the investment in PQE is not going to affect AOGL materially, at least in the short term. The holding value has haemorrhaged significantly over the last year. For this to change PQE needs to 10 bag and even then it would only cover half of the current market cap of AOGL.

In all fairness AOGL has recovered from the complete mess that Eddie and Charlie managed to create with production increased from an unthinkably terrible position of 3bbls per day to over 100 bbls per day. This along with the oil services division should see AOGL break even or even a small profit at corporate level not just operational level.

The building blocks it seems are now there for a better future.

I do hold a good whack of these which I have added to recently. There is risk here of course but I am for some reason mildly optimistic so lets see.

Serious question, can you read or count?

Cash flow positive and a growing business operating oil fields and our own workovers and increase in production

Following the results reported from Mayan's Austin Field on 15th April 2019, the combined group is expected to generate revenue of approximately US$190,000 (US$60 WTI/$US2.60 NYMEX Gas) per calendar month. The combined acreage of the group following the Acquisition will total 8,481 acres which is comprised of 1,378 acres at the Austin Field, TX; 1,640 acres at Zink Ranch, OK; and 5,153 acres at the Fort Worth Field, TX.

So did you vote no?

And we aren’t starting from standstill

Given your inane drivel I presume you voted no???

https://oilvoice.com/Press/18387/Mayan-Energy-Ltd--Zink-Ranch-Field-Development-Programme

worth a read on ZR

I’ve heard they voted yes but everyone needs to cast their own :-)

Or actually I have voted yes to both.

Tbh I do not understand anyone voting no or atleast saying as much. Seems to me more like doom sayers.

GW converted shares into INFT at a premium before suspension.

The strike price of Transgas deal is 0.4p. Both are reasonable.

Transgas have more km2 than UKOG and will be the largest landbase onshore UK. UKOG do not own 100% of their licence areas and neither will INFT.

200m barrels conventional
And 11bn barrels unconventional is some number which is going to increase after analysis of the additional two prospects stated in the letter.

The shares to GW as part of the transaction are not available for sale so they are stuck until INFT perform some sort of corporate deal later on but the yardstick has been put down.

It’s obvious from various news sources that Gw has ‘another way’ for
Exploration with possible new technology so this will be interesting as it developes.

There is a CPR for these figures whereas some companies do not have this.

This is really a simple game. Want to make money with the CEO heavily invested and aligned to shareholders then vote yes. It is rhat Simple.

This whole process has taken a long time and Transgas as it is now has been built up over a much longer time frame.

MYN, this is now a company going places. 282 BOPD (137BOPD to MYN) from 4 x Forrest Hills wells and 1 x Stockdale wells. This is generating approx. �2m free cash flow per year from now. There are another 3 wells to tie in at Forrest Hills (Collins, gilbraith 49 and another one I cant remember the name). There are another 6 wells at Stockdale. Then there is the 3BCF gas that has been recently discovered (and yes that's PER WELL not overall) that is estimated to produce arund 1.3 mmscfpd, that's about 50 bopd equivalent to keep it simple. The company are also looking to complete deals on another 30 wells at Forrest Hills and start working on 8-12 in the next few months. Then we 'have to' add in Asphalt Ridge to the mix, currently being ramped upto 1000 bopd which should be completed in the next 4 weeks (although I believe the plant could achieve 1250 bopd) of which 8.7% I to MYN. Break even of between $18-22 per barrel so with oil at $70 the realisable price is around $64 currently. That's another �1m profit per year. They are also going to scale this up in modules with 5000 bopd the target in 2019 (probably H2) ultimately targetting towards 35k bopd over the next few years. Once this tech used at Asphalt Ridge is show cased to the world you watch the next steps as this opens in trillions of barrels that are currently locked in the UTAH oilsands! Interestingly the tech can be used to remediate land - just a few minutes googling the Canada oil pools will tell you how big that could be. Check out the connections with Davis Sealock - the recently new CEO at Petroteq (the partner at Asphalt Ridge) and a large Canadian heavy oils company......cant remember the name off the top of me head, think its Sunshine Oilsands............ Do some research on this guys seriously!

Why are you asking for so many companies emails?