Member Info for TheDogFarther

Another Caribbean producing country is Guyana. One question that I imagine people are asking is, if there is oil offshore in Jamaica , why hasn’t it been discovered yet. The answer to this may possibly be found in the Guyana Oil . story, where the world largest oil company Exon/ Mobil is currently drilling an estimated 8 billion barrels.

It must be true. I saw the first episode of the Beverly Hill Billies, where there was oil seepage on their Texas farm. Look how rich they became (:

Thank you loads of Money,
Jamaica farm-out success upside: UOG holds 100% of the vast ~22,000 sq km Walton-Morant
wildcat licence, which used to be part owned with Tullow Oil (prior to its retrenchment from
exploration). The block is subject to a late-stage farm-out process which has attracted interest
from multiple parties and on success would see the group fully funded for one well, adding a
major drilling catalyst. The high graded Colibri prospect contains 406 mmboe of gross
prospective resources worth an estimated ~US$1.4bn unrisked (at US$65/bbl). A further 2bn
bbls of upside has been allocated to follow on prospectivity, offering significant running room

Apologies 2.4 billion . From the latest business update at UOG

"In Jamaica, the farm-out of our high impact exploration licence with 2.4 billion barrels of unrisked.

I am interested as how this could be valued on the Balance sheet.

Interesting Article

https://mercercapital.com/energyvaluationinsights/the-fair-market-value-of-oil-gas-reserves/
Anybody got any idea what 2 billion barrels of oil is worth ?

The next development well ( note development, not exploration) well is about to be spudded. High confidence that it will be equally as successful as the the last one , RNSed yesterday. At current oil prices and if successful, the net income (after tax and drilling costs) from these two wells alone will be $13,000,000 , thats roughly £10,500,000 , well over our current market cap. Crazy valuation ( soon to change for the better).

Obviously the sale kept the price down. Free of that it is already rising. Lots of very exciting news due here.

YeahForest,but at least he had the excuse that he came up with the Crep before the £1.62 BILLION contract.

That sounds fascinating, but i would rather be here.
We’re delighted to be exhibiting at the Seatrade Cruise Global 2022 in Fort Lauderdale, Florida! Come see us at stand 561, where we’ll be showcasing our flagship shipyard Harland & Wolff (Belfast) and its vast capacity, ready to host the world’s largest cruise ships for repairs and refurbishments. Held at the Fort Lauderdale Broward County Convention
Cruise ships and renewables. The future is very rosy at HARL.

This says everything a Noddy.

24 May 2022 18:03
I have suggested this in the past. I would not put it past John Wood to be purposely running the SP into the ground and that he has a friendly bidder lined up to take HARL private .... at our expense via a low ball offer as a) he cannot manage a public company and b) he has ensured we have no other option.
What a loser.

Better to get in before the rise and the next drill.

The drill is already on the way to the next well. Im expecting an equally good result .ie more income per year than the current market cap. Talk about a great buy.

This is just the start.

We may have to wait for Noddys answer as he appears to presently be driving to his high powered job.

https://www.youtube.com/watch?v=Q2Ab4vcyltU

Nobby, i am assuming that you meant what makes a company a good loan risk or investible, instead of " what makes a bankable loan or investment", which is nonsensical. It not very difficult actually, although you dont seem to have any idea. Loans and investments are too completely different categories, although you dont seem to understand the difference.re loans , the most important point is the company's ability to repay the loan. In HARLs case , the fact that the payee is the Government, put the income derived from the contract as of The highest level.
The bank or loanee will also take into account the loanees assets. Once again , the fact that HARLs facilities are being upgraded to the amount of £ 77m , will put it in excellent stead on the banks Risk Register. In fact these assets can be used as collateral on a loan. Ie in small business Directors may have to put their houses on the line ( as i have done in the past)
Finally, the banks or finance companies will take a view on the companies business case. Ie the markets they do business in and the likeliness of future success. HARL comes out very high on the lack of risk scale from a loanees point of view and that is why i am very confident that a loan package that will allow it to become a £200 million turnover company within the next few years, will soon be put in place.

Basically HARL is de risked by the UK Gov. The finance will be sorted soon and those sitting on the fence will be clamouring to get in.

Im expecting an equally good result at the next development well. As the excitement builds so will the SP. Any idea Greg on the next drill flow rates ?

It will come when the herd realise how undervalued this is. Just our job to get the message out.

Greg, what’s your prediction for the next development well. Same , better worse flow rates. They brought this one on line ahead of expectations. Looks very promising.

Added another £2000 this morning. With another development we’ll soon to be spider, this will be heading for 3 p.