Member Info for Treasures

Hi o2, do you think UOG could hedge a bit at these levels

Your right IMO about how cheap it is but they do not get all the revenue you mention as the Egypt gov get a bit over 50 percent. If you go back through this BB it gets explained every so often. We’re waiting on an updated reserves report and also the oil seepage report which is other news flow to expect as well as the current drilling which is going rather well

Proactive interview about 20 minutes ago for interested.
Waiting for the SR me

I think a previous poster said that the shares PM bought were over more than 1 fund so if it is them they don’t need to notify as none of their funds own more than 3 percent in their own right. Don’t no whether true or not though

Good point but had they bought millions after the first kitchen sink or last weeks there would be a shed load of posts giving them the shaft as well. The bit that baffles me is why Chaffe didn't make a purchase when the others did. No excuse for that even just 5 grands worth. I just think 2020 soon over along with the worst blocks of news and a line written under it. I just cannot see that shareholders would back dilution at anywhere near this level and if there is it would be after the sidetrack of 7. If that fails then no cigars a croissant for breakfast.

Why on earth do they need to raise 230 mill to pay the bonds back. The bonds are currently worth around the cash pile HUR have. The bonds need to be kicked down a further 3 years then maybe bond holders get ALL thier bond value back and juicy interest along the way. The 7 sidetrack is only focus at present at 60 million or whatever. That process will possibly lower the WC on 6 and get prod back north of 15000 per day which will be of benefit to all investors. I suspect that bond conversion price is gonna be the big change but will only be an issue if the WI fails a few years down the road. I think HUR need to say we will offer to buy back 50 million of bonds at 50 percent of value which gives a big uplift to any that want to bail which would help.

Planted-Agree what you suggest for 6 & 7 seem very plausible but I can't see WI going ahead. What cost do you assume for Lincoln tie back and suggested sidetracks, cheers.

exact ammount that RKH had then another 80 million ish went through in bits.

got to be RKH as exact ammount they were issued. i hope UOG bought em back and cancel...

i reckon they might have just got rid
of the UOG shares

if there is a resource downgrade does anyone know what effect that would have on the licence obligations going forward. I read somewhere it does. ta

What's is the bond conversion to equity price please anyone in 2022

CS - As you are probably aware MB has stated numerous times that even 50 bopd could be commercial if you are near to the imfratructure which of course Heron is. He has stated that Heron is certainly commercial i recall. When he says he hopes Heron would be commercia or whatever it was then you are correct in pointing out that if they do not get the exploitation licence then of course its not commercial. In terms of the wasted year he is surely stating a fact that if the licence is not confirmed early enough ie q1 then yes maybe 2020 would be defined as a wasted year if no further drills take place. Yes, there are risks as there are with all stocks and he has stated q1 so we are not late as ther is another month and a half before that statement expires. If the Mongolian governement do not give the licence what message does that send out. They have a soft loan for 1.2 billion to build the new facilities i dont see that they are going to fritter the chance to fritter away oil from the Heron field. For all the talk about elections could put a spoke in....what a lot of nonsence whoever was spouting that recently. The short term risk is that yes the is a raise of sorts at a stupid price which would not be in the interests of shareholders as they may as well sell the hole thing.....but the likely senario is a farm out. Not sure but the coronavirus perhaps does not help in that neck of the woods.

But what puts me off at this stage is the 600 volt DC battery not the 12 volt AC in my current petrol vehicle.

Would anyone be able to explain with clarity how long it would take to put out a fire in a car with an electric battery and also if you were driving an battery powerd car and the battery went faulty how long would it take the AA RAC etc to replace it. It's quite easy with a petrol deisil

Hilly Billy's
Have a listen to the presentations etc from MB. Need around 3 million a year to run the business and had 3 million left at the end of last year

Levis - Agreed, think this BB will be a bit busier tomorrow tho. It's going to be interesting early Feb to see where all these shares have landed. Will take a look at various funds etc

Hi neeko, I'm sure in one of the podcasts/presentations in November this was highlighted. I think that your right they have to report the oil discovery within 3 months and also don't they have to state the likely recoverable barrels. Just my opinion but at the end of the day they can't do allot externally until April and as they are permitting anyway it does not make all that much difference. I don't for one minute that there is an issue with the exploitation license if anything it would be the permitting not that I expect anything ultimately significant. My hope is that that they can start pumping heron 1 in May slightly earlier than q3 as per presentation. It may have an impact on then with the extra bit of income help to then also get at heron 2 without any extra funding. The other interesting point MB made was that they have in storage 3 pumps. Therefore if they utilise 1 on heron 1 maybe the production will be a pleasant surprise and help to mitigate further funding. However my belief is that it will be farm in with Petrochina and as he said they would look at 60 wells and we are off to the races.....

Good luck with what you invest in. Divis are not for a company this size. May be different if Jamaica is a bit hit...but re the director buying, all I can say is 2 directors for 8.4 million in the 3 p placing. 2020-2021, the company will produce money to drill and not to return it back after just raising it. But no need to raise new funds not for ages unless they do find another bargain. At least drilling is paid for from production going forward and the 3.5 million for the 4 drill in Egypt in 2020 is already accounted for.

What about the 8.4 million shares 2 directors coughed up,for at the placing?