Member Info for V111JAS

Very true isas .
Last year Prelea had it all . With a sensible clearly thought out strategy the funds could have been raised to bring BP on stream this year .
Instead , arrogance , ignorance , incompetence and blind stupidity have reduced us to the parlous state we are in right now .
AHHhhh ! ~~~~ Hindsight .
If I had known more about Prelea then ~~~~ My mistake .

Agreed . I think you will be satisfied ~ Neversatisfied !
1 . If this was something insignificant DW would not have chosen this Farminee in the first place .
2. If this was not going to proceed , either party would have pulled the plug months ago .
3. The time taken signifies that there are very complex arrangements at stake .
4. There seems to be serious focus on the leases south of Prudhoe bay , specifically the North slopes .
5. The secrecy and confidentiality suggests the huge significance to both the Farminee and 88e.
6. 88e has other interests , which might be of interest to the Farminee .
7. The information flow regarding the FO has become steadily more positive culminating with the $500k .
8 . 88e SP should improve dramatically with confirmation of a positive outcome .
9. The consequences of a positive out come should see continued uplift in the SP through 2020 ..
10. A robust financial position will enable development of other assets .

Looks good to me and as another mot has gone by , I`ll be in the market for just a few more this week .
Can`t be long now , even if it does go beyond 30th !
Good luck everybody . (Well almost everybody !)

:)

Gemstar : That`s a very fair point , however surely if were the case all the Company has to do is to confirm that as fact to stop any further adverse speculation ? Also , if there are flattering sections of the report could they not release a few paragraphs to support a statement indicating some exceptional value , or even value confirmation ? Most reports will have a summary .
I don`t know the answer to this conundrum .

- ~~~~ "someones interested! "
Me ! I`m buying more this week while this is (imo) totally undervalued .
( I didn`t buy that 600k )

I think we would have required 1 Million Exclusivity for the hire deposit front payment on `The Beast` .
As we only got 500k , perhaps we should be looking for a `Rig 13`, which is presumably half the size of Rig 26 , and called:
`The Insect ` !

A pity , I think they are turning left , they don`t seem to be going straight on . Could we turn the sign posts round ?

ConocoPhillips orders monster rig to set new drilling standard and tap new field in Alaska
pencil Author: Alex DeMarban clock Updated: October 7, 2016 calendar Published October 6, 2016
ConocoPhillips has ordered a powerful new drilling rig that will surely crush long-distance drilling records in Alaska while allowing the company to unlock oil from a new field northwest of the Alpine development.
The company said on Thursday it has signed a contract for the building of the rig with Doyon Drilling Inc., an Alaska Native corporation.
The news comes on the heels of an announcement from ConocoPhillips last week that it set a new mark for drilling length in Alaska with a 5-mile well at its CD5 field on the North Slope.
This new rig, set to arrive in Alaska in 2020, will allow development of Fiord West, a field discovered in 1996, the company said. It will be able to drill wells 6.25 miles long, more than the 4 miles often drilled by long-reach rigs in Alaska.
[Caelus claims Arctic oil discovery that could rank among Alaska's biggest ever]
ConocoPhillips has drilled exploration wells at Fiord West, but is not ready to provide details on how much additional oil the field will add to the trans-Alaska pipeline, said Natalie Lowman, communications director for ConocoPhillips Alaska.
The new Doyon 142 drilling rig operates on the Kuparuk Drill Site 2S pad in August. (Judy Patrick / ConocoPhillips)
The pipeline, moving the oil that pays most state income, is shipping an average of 508,000 barrels daily this year, down from the peak of more than 2 million barrels daily in the late 1980s.
Gov. Bill Walker said the drilling unit will have a "multiplier effect" on the economy. He lauded ConocoPhillips and Doyon for efforts to "spur production during fiscally challenging times."
"This is welcome news, as it fulfills lease terms for Fiord West, which is near Alpine in the Colville River Unit," he said.
Most of the leases are on land jointly owned by the state and Arctic Slope Regional Corp., another Alaska Native corporation. The state would receive royalties, as well as property, income and production taxes from the development.
The rig will employ about 100 people during operations – 50 workers in two shifts – and support hundreds more jobs, such as contractors involved in transportation, drilling materials and logistics, ConocoPhillips said.
"The addition of this rig to Doyon Drilling's fleet means more jobs and more opportunities for development," Aaron Schutt, chief executive of Doyon Inc., owner of Doyon Drilling, said in the statement.

Manwell : I`m not sure that monster rig is destined for our `little patch` , but just imagine what that would do to anticipation and confidence in 88e should we find out that it was ;)))
GL !

Exactly H G .
Sadly the closer we get to the FO , the closer I get to being rude to a few people !

SSssshhh~~~ I shouldn`t really say this ~~ But ~~ You would probably be able to make a better job of presenting than PH.
Unfortunately his poor presentation skills could be interpreted as ; immature , inexperienced , or even incompetent .
When the little puppy came bounding out of it`s playpen , barking and drooling over the Proactive Desk we all took notice .
Since he was dragged back into his kennel and castrated , he`s been (understandably) rather quiet . He wont be performing those happy little puppy tricks again .
I`m sure he`s also been undergoing some strict obedience and house training classes , so I`m hoping that he will grow into a much admired well behaved dog .
Puppies grow up very quickly , so I am reserving judgement because , he was quite probably on the right scent all along !
GL .

Fingersadtoes :
No . and No .
"One of my first business ventures in Romania was in the early 1990s as a bulk iron ore and steel trader, a role I held for almost seven years before moving back to Australia to develop a career in the property and earthmoving sector. Having built a successful business in Australia, I returned to Romania in 2003 to apply the skills I had developed to this growing economy."
See earlier discussion should you be interested .

Indeed , often a pattern to these sort of things .
See below ;

A little information re South Pacific :
South Pacific
Discussion in 'Romania property' started by TomW, Sep 21, 2010.
TomW
TomW
New Member
Does anybody know if the above firm of Sydney, Melboure and Adelaide developments has now gone under? I had the following sent to me
South Pacific joins string of insolvencies
marti, 23:57 Autor: Cristi Moga
Australian real estate developer South Pacific has filed for insolvency in view of reorganising subsidiary South Pacific Group Melbourne Residence, which is developing a 71-villa project in the Tunari commune area, near Bucharest, with less than half the villas sold so far.
The Australians, which have developed another 100 villas in northern Bucharest as part of Sydney complex, are putting the decision to file for insolvency down to disagreements with representatives of Hardwick Holdings, the company's partner in the project.

"Works on the project have been 98% finalised, but we need money for the finishing touches, with works likely to take around ten weeks. We have the approval for the money from the bank, but our partners declined to sign the financing contract, so we decided to start the insolvency proceedings in view of reorganising, and let the court of law decide how the project is completed," Andrew Prelea, CEO and shareholder of South Pacific, told ZF.
Investment in the project amounted to around 9 million euros, with more than 5 million euros being sourced from a loan from the Banca Comerciala Româna (Romanian Commercial Bank - BCR).
TomW, Sep 21, 2010 #1
thebutlins
thebutlins
New Member
Tom,
We bought in Sydney (due for completion June 2008). Wasn't completed so took S.P. to court Jan 2009. Had 6 court appearances and making very very slow progress. As far as I know. S.P. Melbourne has filed for insolvency, the rest of S.P. is still afloat but are being taken to court by unpaid workers on Nov 19th 2010, after that point we will know whether S.P. has staved off insolvency or not. Hope that helps. Contact me on 0 1 2 0 2 4 6 6 4 7 8 to chat further if you like.
Thanks,
John
thebutlins, Oct 23, 2010 #2
woodcliff
woodcliff
New Member
We were notified by LI , MRIs legal side kicks, that SPG were gone under and that last chance to be registered as creditor coming up next Friday 29/10/10. Send them a load of money to represent us but they cannot guarantee anything.......no thanks.....good after bad.
What happened to 9,000 sent them already to take SPG to court because Melbourne development not completed?? Total loss I fear, deposit gone and a furniture package to go with it....what a load of gangsters !!!!!!
woodcliff, Oct 29, 2010 #3
tmn64
tmn64
New Member
hi does anyone have any information on what has happened with south pacific development have they gone into insolvency. i have been trying to speak with them regarding our property in the sydney de velopment but cannot contact them., can anyone help.
thanks
~~~~~~~MMMmmm

* Pitchford .

`From AP statement when he became the CEO :`
No Professional qualifications necessary , proven or demonstrated .
That statement is so vague it really needs `Fact Checking` and `Detail Confirmation` .
Perhaps people were just so glad to see the back of Pritchard , even the Janitor would have been acceptable .
A bit late now , but after everything that has happened here I am very suspicious of everything Prelea .

The chaos here can`t just be one big unfortunate accident .
Prelea is some sort of ` Property Developer`~~~~ (I think) ~~~~ what are his professional mining and financial management skills ?

~~~~ "Toothless" ~~~
Brian Moritz age 81 Non-Executive Chairman of the Board
Roy Tucker age 76 Finance Director, Director
Brian Basham age 72 Non-Executive Director
Eric Diack age 61 Non-Executive Director

Probaly ~ I guess that`s what happens when you get past the retirement age .

I agree , in part , with some parts of your post Pepco , it is most definitely "A matter of faith ".
1. There is so much confusion surrounding this 6%(?) secret investor that I have to conclude that it`s a myth . in a well run , respected , profitable organisation this very strange behaviour might just be acceptable/believable ; but with this outfit , with this management , with their history ? Nope ! Just another tale from La La Land .
2. Where is the elusive SRK report ? Will we ever see it ? If we can not see it it simply raises the distinct probability that they don`t want us to see it because it`s a load of rubbish . For me it also raises the question , again , about how exactly AP managed to get these `Assets` , " On the cheap" .
3. We just can not move to production at BP without major finance , time is now running very tight (impossible) for the end of this year , so I certainly expect more of the same little CR`s just to keep the lights on .
This raises the question of how . How can they raise anything at the current SP level ? My reason for believing that consolidation is on the horizon .
4. Diamonds and That Road Map ! I totally agree with your cynicism , which is why I have often posted up lighthearted ;
~~~ ` Beep`~~~ `Beep`~~~ progress reports . No map , can`t drive , wrong direction , completely lost , soon back to the start .
I doubt that we will ever find the diamond on this treasure hunt , and even if we get the green light , how long is it going to take to squeeze any value from Zimbabwe ? I could see them splitting Rom and Zim , selling Zim (PP repeat!) to get focus on Romania which is at the root of AP`s future 401k (retirement pot).
5. Finance coming for BP ? Only in the context of some variation of the above .
I doubt they will ever get serious financial support to concentrate exclusively on brining this asset (?) into profitable production ~~~~~ Which takes me full circle : How/Why did AP get this "On the cheap" ?
What a b****y mess . imo .

Hull : I think the Herd knows you are there !!
https://youtu.be/-7sdNOJ3q0U
;))

Indeed Reaper , perhaps a touch of parallel narcissism !
It will never happen , just another bit of - RUMP media trickery to take the focus off far more serious issues which are getting worse by the day and over which he has no control and absolutely no idea how to manage .
Let`s hope for that FO before the end of the world :))