Baron Oil Share Discussion Threads

[valentine] 08/9/2016 11:19

1.2m sold @ 0.046p on isdx.
I have enough and will resist temptation.

[pembury] 08/9/2016 11:11

resident seller couldn't resist a mighty 0.5p

news flow please bod

[pembury] 07/9/2016 07:51

Possible IF drill one offshore succeeds? BOIL are fully funded/ carried for the first well via Union farmout worth $80-100m (Boil carry 20%). No dilution required here.


Island Magee is a £400m project so surely we are talking huge numbers here. Back in 2012 BP took an option to acquire a 50% interest. Would expect a major partner to come in or the asset sold given the drilling success. EU/ Government backed funding will also attract any new investors.

[simon8] 07/9/2016 07:47

at 30p a share I would be a millionaire and sailing off into the sunset....PLEASE!

[pembury] 06/9/2016 19:31

With an share price of 0.5p that would be amazing!

Then there is block XXI (unknown potential/ decent seismic results evaluated by Nutech), Island Magee and any other new project to value in

50p will do it lol

[nlmbidc] 06/9/2016 19:29

Things have changed since that report was published.

We now have only 20% interest and 50% or so more shares.

Still comes out somewhere around 30 pence a share.

[pembury] 06/9/2016 19:22

Based on the independent Z34 CPR;

DeGolyer MacNaughton resources potential assessment - mean value of $2.6 billion or
£1.90 p/share

[nlmbidc] 06/9/2016 17:51

Pembury

You have hit the nail on the head. How much is Z34 or IMSL worth.

The answer to that depends on when infa or boil get some value out.

Both projects have the 'potential' to provide considerable value. Its only when this is clearly imminent or actual that the share price reflects that value.

As an aside the share price for Karoon oil and gas values the company at considerably less than its cash reserves.

[the guardian] 06/9/2016 15:23

I was surprised to see that there are people living on Islandmgee.

If the cavern is filled with gas, the locals could see a BOOM time.

[pembury] 06/9/2016 13:55

How do you put a value on anything these days?, Boil currently valued around cash so the market values assets at about zero. Union carry worth about $15-20m net to Boil. No debt also
Mkt cap £6m ish

Cash in bank with no major obligations with Z-34 carried and XXI farmout (to come)



All the monies put in by Boil for 3D surveys and independent analysis confirming P50 2bn bbls put into Peru worth zero, also onshore seismics funded by Boil at 100% + backed up by Nutech worth zero (see UKOG) - plan to farmout 100% WI for free drill carry c50%, Island M worth nothing yet BP wanted it even before the drill success from INFA/Boil ptnrs

Surely IM got to be worth a few quid even at this stage


Also looking to acquire another project with cash at hand ready to invest, plus to come shortly Union Group cash to Boil as part of the farmout deal offshore

[simon8] 06/9/2016 11:11

Perhaps I am not following the INFA option properly, the 100% market cap of INFA is £2.3M, why would we pay them £1.5M for 15% of a project they do not own 100% of in the first place - the current value of the project you would of thought is reflected in their share price - there is a huge capex outlay required point forward to make this work, so any buyer (BP? 360M??)would take that into consideration?

If we think this is a great deal why not or example buy 50% or any other % of INFA now????

[pembury] 06/9/2016 10:32

They will also have the Union cash by then nlmbidc so money is free to invest now. cash (-tax) will buy the 15% in Island M if they want it

Hopefully by next March IM will be even more derisked and the big boys buy it out? 50-60m will do it?

[nlmbidc] 06/9/2016 10:28

The good news is we have the money to invest in a new venture and if one cannot be identified before March 2017 we can reinvest the cash to get the 15% interest in IMSL.

A win win situation.

[pembury] 06/9/2016 09:23

good to see interest paid, but should have been made clear in the first rns!

[pembury] 05/9/2016 15:57

wait and see i guess, just digging for something as bored to tears here!

action needed

[the guardian] 05/9/2016 15:36

Looks like you spoke too soon pem.

Infact, reading it again, I'm not sure what it is saying. Sounds rather ambiguous.

[valentine] 05/9/2016 14:32

Plummet airlines flight time. Another top up at 0.40p... or not. Funny broker asked if I wanted to clear holding this morning to buy in something else. Probably not so positive right now.

[nlmbidc] 05/9/2016 14:19

Pembury

Agreement to what. Increasing production?

[pembury] 05/9/2016 13:31

zzzzz yes

in the meantime Russia & Saudi A have reached agreement

[nlmbidc] 05/9/2016 12:18

Exciting here isn't it.

[nlmbidc] 02/9/2016 18:15

P2123 is the off-shore Northern Ireland well - part of the Larne basin prospect.

I was told at the AGM that if gas was detected from the seismic that it could result in a well being drilled. Very low cost for boil if only participating 10%.

[the guardian] 02/9/2016 15:37

I forgot about p2123. What's that then?

[nlmbidc] 02/9/2016 13:27

I would add P2123 into the mix.

If there is no farm-in to a new asset, P2123 could be our next drill in Q1 2017.

[pembury] 01/9/2016 14:36

Nice post nlmbidc

few more buys on isdx 0.529p



XXI farmout & drill, IM asset development, Z-34 farmout cash and a possible new asset deal...........got to be some action somewhere soon!!??

[nlmbidc] 01/9/2016 11:04

Infa stated earlier in the year that they would monetise the ISML facility having proven its capability to contain the gas.
That presumably is still their aim. I understand that they wanted to sell the facility on completely if possible.
The FEED stage (Front end engineering design) is due to be in place by March next year. There are a few open question:

1) Can IMSL be sold off in its entirety - the last RNS restated that they were planning to complete this during the summer months. I guess that includes september.
2) The last grant of 4.02 million euros was for the feed stage. Will there be further grants following brexit. From UK or EU?