Member Info for therealengineer1

Having held here since the price was above 100p what maybe 10 years ago now (average now 1.4) based on the Thar project which seems as far off now as it did back then- in the next couple of years. My concern with the gold prospect is it’s going to be an excuse for another placing as that seems to be the habit for the company rather than delivering on the original investment proposition. The risk of even more dilution prevents me from investing further here. I’m just hoping I’ll get some return to justify holding for 10 years.

I can only think fear of political risk in Egypt is holding the share price back as the other news seems all good.

Transformational at 1100 BOEPD ! now at 3060 BOEPD. great listen again.

3060 BOEPD at say 35 dollars to be conservative is what 107100 USD per day or about 86,000 GBP per day with 300 days production is just under 26 million!!

Is that correct? with a market capitalization of under 20 million. That was purchased for 11.5 million and some shares to RKH.

I hope we get something but I am concerned by the Pakistani press news that these power purchase agreements with the Chinese are costing too much and this will lead to a delay.

http://www.ppib.gov.pk/N_upcoming_ipps.htm

Looking at the other Private Power supply agreements it seems this project is running late in terms of LOI compared to other projects that are due to complete later. Hopefully there will be some pressure to move this along to meet planned schedules.

From what I see price dropped but is on way back up.

Not the LOI news we were expecting.

RNS says expected 2500 BOE/d! net to UOG with production cost of 6.5 usd/barrel. Happy days .

1 MMSCFD is equivalent to 178 MBOED

Hopefully I'm not back at break even til 5p. Was hoping this news would be later in the month after my next rent payment has arrived to average down.

https://www.nelincs.gov.uk/meetings/planning-committee-virtual-meeting/

Yes I meant the 10th JCC date.

Don't know about Pakistan Ramadan but in middle east it is a shorter working day and generally people not around to make decisions and EID is 4 days of total holiday and more for government workers and people combine it with annual leave to get more holiday days.

Cyrox, yes this is a very real threat. I'm hoping with the fertilizer option the overall investment will progress. Especially as in a post-covid world it appears countries will be looking to become more self reliant.

Don't expect any news this week, still Ramadan. Next week will be Eid so holidays. So earliest is going to be 1st week of June.

Still can't find a published date for the next CPEC meeting.

Only reason to buy was for the yield - gone - I expect it will also not return at the same level.

The problem with these dividend cancellations is it introduces even more uncertainty and instability into the market.
What level will the dividend return at in all these companies, buying a risky share with a 10% divi is fine but if that is suspended and returns at 2% that is a different prospect. Also how will people in the future be persuaded to invest pension and ISA into shares going forward or is this an attempt to kill off this asset class after killing of buy to let.

Not wishing to rain the parade (I'm heavily underwater here) but this looks very similar to the last consortium agreement signed in Nov. 2017 that went nowhere...just needed the LOI etc.

Maybe the economics are better now with the Coal to gas and Liquids in addition to the power station. Pakistan seems to be more positive on this now so I have my fingers crossed but until then this is still a very risky prospect.

I would also think that the proximity to Newcrest processing facilities significantly improves the financials of havieron. No need to construct huge processing facility to begin monetisation.

Not a drilling engineer but work in the industry-I think zero oil in the mud is normal if you get oil in the mud your mud pressure is too low.

Initial thoughts are is that a typo in the RNS - is it really 20bn? If correct over how many years? If that is a 20bn framework agreement is there any commitment to spend against that agreement.