Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Brom,
Nice article about Castrol history..
Like this part, so true
You still catch the scent of the substance that made his company a household name in the early 1900s wherever older racing engines are exercised: that distinctive, heady perfume of Castrol R. Although castor oil, the origin of the smell, was still the purgative bane of many a childhood
Mmmmmm
Hi Reaper,
I love the smell of burning rubber and gasoline.. never know, one day it might be 88e oil and gases filling the air at silver stone.. just hope the weather holds up.
All the very best to you
Someone has kindly given me 3 tickets to the above this weekend..
Looks like a nice day out.
Thank you Brom making that nice and clear.. Appreciate the reply.
Have a good evening
Does 88e have nearly 10 years worth of HRZ data for them to look through? Taking into account how long PB was exploring before 88e came along.
I also don’t think 88e will be sold for anything less than 50p imo.
. A feature of the Cove business model was that it was sufficiently funded through all stages of its development to support the dynamic and active exploration programmes in all its operations and was also adequately funded to make strategic acquisitions.
Highlights
The company focussed on young and emerging basins, de-risked through 3D seismic. It also aimed at partnering with proven and reliable operators.
Cove was acquired by PTTEP in August 2012 before any of the prospects were drilled.
Very similar scenario to what’s occurring here if you ask me !!
In Q1 2012, Cove and its partners shot a c. 1,200 km 2D seismic survey covering Rovuma Onshore Block. Interpretation of the seismic data resulted in two prospects being identified, which were believed to be gas prone. Cove was acquired by PTTEP in August 2012 before any of the prospects were drilled.
Snippets from cove energy wiki
Cove's strategy was to create value for shareholders through acquiring participations in exploration assets and appraisal programmes. The company focussed on young and emerging basins, de-risked through 3D seismic. It also aimed at partnering with proven and reliable operators.
Cove was listed on the Alternative Investment Market of the London Stock Exchange. Over a period of seventeen months, between June 2009 and November 2010, the company raised a total of £182 million through four placings. Each placing was done at a significant higher market capitalisation than the previous one:
June 2009: £4 million at £0.12 per share
September 2009: £42 million at £0.20 per share
March 2010: £26 million at £0.40 per share
November 2010: £110 million at £0.76 per share
The funds were mostly used to acquire assets and then to keep up with the cost allotment of the fast-paced and expensive drilling campaign offshore Mozambique. A feature of the Cove business model was that it was sufficiently funded through all stages of its development to support the dynamic and active exploration programmes in all its operations and was also adequately funded to make strategic acquisitions.
This was the patience DW asked for. Let’s give it a bit more!
Where are ya?
Even though I find your posts annoying at the best of times, I find you quite amusing ;-)
Or it was bad and he turned to the alcohol and done a runner ??????
The deal with the FO partner is That good, that DW and the JV partners have been drinking and partying hard since the paper work was signed. He wrote the Rns sipping on ice wine, got distracted And continued to drink and genuinely has forgotten to press send. He probably hasn’t even logged back into the PC, because he’s forgotten the log in details!.. ??
Hope you great bunch had a good weekend.. raise a glass for the week ahead!
Love this company
Bit of a sore head this morning..
I recommend not to mix drinks. Started on Beer, Then whiskey and coke, Pimms and whiskey and finally finished on just pimms :-/
Thank you for the nice replies..
All the very best to you great bunch
Have a good day
Love this company
Ty Rog (JENKS7 )
Took me an hour to write that ??
PB came across as someone that wouldn’t give up if he believed in something. I think he was a firm believer that if something doesn’t work in the manner that we expect it to, for eg -ABC. As we know nothing is straight forward in science, you have to try and find a formula that will! Hence, he’s formula ACB.
I recommend everyone to watch the golden age of shale, that insight into Pauls theory on the future of shale is very much interesting.. one thing that stands out to me, is the part about other explorations over time that failed the first time around.. Like our IW with the Vertical drill, also Prudhoe bay, like Eagle Ford etc
He never gave up on Eagle Ford, everyone else did!
Let’s not forget! We are only here because of one person, who had a vision and wanted to prove that small oil & Gas Exploration companies could go it alone without, the so called big boys!
He also wanted to prove that Alaska apart from prudhoe bay up in the north area, also west of the bay, but not so much East. That it could be possible the mid to south, west where no one really bothered to explore, could be rich with the minerals that is needed for oil! With years of experience and knowledge ( taking in to account the way he orchestrated the discovery of the biggest oil field in Texas, which is now Eagle Ford), the potential of oil discovery had a chance. He obviously knew that the rocks up north are rich, and wanted to prove to I think to himself which I guess was probably bothering him, that the possibility that in a way ‘what goes up must come down ( Einstein) that if you have billions barrels of oil rich rocks in those areas, there should be oil south.. he went Exploring as exploration companies do.. 6 - 7 years that man dedicated to Ice wine, before any of us had an inkling about it! During his work he discovered a different type of formation, to which we know as HRZ unconventional! To this day a lot of people think it was a failure due to the vertical drill. But if you take into consideration the point of going down that route for us was cost effective.. we got enough data to prove that to hit the sweet spot it would have to be a horizontal.. why take that cost and responsibility, no need! We as a JV have purchased 690,000 arces of land, that’s because of the way the HRZ formation travels across our acreage. On top of that across Our acreage we have conventional rock formations, a added bonus to our portfolio.. that’s why I think the reason for this long winded delay, obviously is purely down to gathering data on conventional. Why sell our land for half what it’s worth, why not wait a little while longer and sell out t for what it’s worth!
RMP, Winx was a cheap punt, for us it was to hopefully make a few ££s, It was also to show that we have some sort of authority on slope.. from a single man to a failed company in the TPT days, other companies are now looking to us for help and advice. Says a lot to me.
As for Yukon who knows!
Paul’s vision will come to fruition, the data we have amassed over the years is gold dust. It will save the farm out partner a lot of money ??.
Hey what do I know sweet FA. But I bought in on the late PBs vision and will stick to it! God bless you PB never met you, but watching and listening to you, I could tell that you were the best in the business and a genuine geeza . And that what we have was never going to be easy to achieve but time and patience will eventually benefit us all!
Had a few drinks and thought I would express my feelings.. been waiting since May 2015. My very first investment, and with no clue about shares etc! I found 88e did a lot of research on PB, BOD and Alaska
Thanks MW93...
£1 is good but even 50p is a fair offer don’t you think , £3 bill!
I haven’t gone for anything lower than 50p because I believe our assets are worth a lot more.
Just my opinion
Loool Torham.. and he can’t handle the drink
Around midnight and 1am and then between 7am and 8.30..
Really bleeping annoying as everything is crossed before I go to open it, hoping to an email from 88e. Only to be disappointed to find that it’s Michael Kors or AvaTradeGO etc!!