Baron Oil Share Discussion Threads

[valentine] 12/10/2016 18:33

Sold over half holding here to put in Amerisur @ 23p. Ok so far. 36p on horizon. Bought more today on that principle. Yhihf. Game changing news soon, no lose. Boil in bag here.

[valentine] 12/10/2016 18:33

Sold over half holding here to put in Amerisur @ 23p. Ok so far. 36p on horizon. Bought more today on that principle. Yhihf. Game changing news soon, no lose. Boil in bag here.

[simon8] 12/10/2016 15:25

infa on a sustained fall, hope that is reflective of the fact this is taking ages and the mms are just marking down (like BOIL)on virtually no volume and not reflective on the market not thinking they can get a deal away.....

[nlmbidc] 10/10/2016 16:19

Oil over 53 dollars today.

Lets see what SE Asia brings before we knock it. This partnership is in its infancy but the background knowledge is clearly in-place.

[valentine] 10/10/2016 12:19

Rather stick the money in Amerisur now. All go there when they receive Ecuadorian licence to pump oil via oba. Politics holding up grant. Should be later this week but no guarantee. Happy to have what little left there on prospect of something happening 'imminently' than waiting another decade to get a glimmer here. Rudolph was irreplaceable imo.

[chinadog3] 10/10/2016 11:44

Questions after the event wont help me!!

[pembury] 10/10/2016 11:35

Depends if anything comes of it before year end. It it doesn't then questions will be asked. How much are Baron Oil paying them also should have been made very clear from the start.

[chinadog3] 10/10/2016 11:13

It seems a concern that we are now paying a relative to find us a deal or more

[valentine] 10/10/2016 10:53

0.040-0.045 on negligible trading.. uh oh! Poss to buy sub 0.042p.. halved holding last week..whew!

[valentine] 08/10/2016 11:25

The diff with Boil and PVR/GKP/TLW is we never went to their dizzy heights to fall back. Still, with AIM, they keep paring away.

[pembury] 08/10/2016 10:21

Not thinking as short term as that nlmbidc!

[nlmbidc] 08/10/2016 09:38

Pembury,

$60 dollar oil is the price required for a lot of the US fracking to become viable again. I suspect that as soon as oil is around $60 per barrel the price will plateau or drop down again.

[nlmbidc] 08/10/2016 09:33

Valentine,

Are you telling me there are people in other shares that are worse off than we?

No more griping from me then.

Oh I am so lucky....

[valentine] 07/10/2016 12:25

Sell it off then and use funds in se Asia.
It could be worse. I have mates who were mad for gkp in 2012 over £4.00. now 2.25p. I didn't fall for it. TLW either or the biggest Culprit Inc PVR 40mls offshore western island.
So there is still sort of hope. Ar least there are hydrocarbons down there in offshore Peru. Sell up and put it into gkp ..ha ha.

[pembury] 07/10/2016 12:05

This is true pete but the main lead is viable at $60 so surely with oil $50+ they are upping their game now?
Good timing perhaps with depressed rig costs?

Still not convinced by them to secure a farmout

[petecb1] 07/10/2016 12:01

I know Pem but that is history. Right now and for the last year or so, no body would've drilled.

[pembury] 07/10/2016 11:48

pete
when Union farmed into Z34 op were $90+ for well over a year and even breached $100 for a while. In that period despite drill ready leads and a substanial amount of very costly 3d seismic acquired and evaluated by Boil and De Golyer (funded at 100%) Union still
didn't manage to take the asset forward.

their strategy is to acquire numerous onshore/ offshore assets and sit on them for years on end and do nothing it seems

There has been nothing from them since the deal was signed April 2013!

[simon8] 07/10/2016 11:20

nlmbidc - I think generally we are on the same page -


INFA - why would INFA BoD give away potential value to BOIL - it never really made sense to me; we surely can't commit to any spend on the EPC FEED contracts that will need to be placed so it is a punt on someone coming in pre March to take it. Just can't see it happening.

NI drilling, depends when and how much cash we have left at the time...punt for nothing perhaps when it comes around?

Onshore Peru - Cutting it a bit fine especially if not farmed out by mid next year - worry is of course most PSC's will have significant penalties attached to not meeting commitments in an exploration phase... worst case scenario, no farm-out, no drill as cash spent before mid 2017 and license forfeited with company breaking penalty for failing to drill a commitment well.

SE Asia - we have such a limited cash pot what can we buy in terms of production.. I think likely outcome end up with a small percentage of an exploration PSC we never drill.. happy days though for the nephew, hope lunches at Raffles are still up to scratch!

UOG - worst of all worlds, rubbish partner, collapsed oil price, no farm-outs and no $2M for years past and how long to come - whose chasing the pieces of paper at the ministry.....anybody.....nobody...do UOG care, why do something that will cost you when you have nil intension of doing anything with the acreage [Z34 -DEAD DUCK]

[nlmbidc] 07/10/2016 10:33

Simon8,

This is my take on some of the key points from tour post:

INFA option - how likely that will be monetised before option expires?

Very unlikely. According to the last RNS there should be an investment decision on the FEED stage (Front End Engineer Design) by the end of this year. The FID (Final Investment Decision) is due in late 2017. I assume the monetisation will coincide with the FID. There should of course be some indicators along the way. How well the FEED is going etc.

NI exploration drilling - do we want anymore of this high risk, cash burn we can't afford.

If there are gas shows on the 2D seismic the offshore P2123 well could go-ahead at very low cost to BOIL (10% interest).

Onshore Peru - can't farm-out, BoD don't want to sole risk - current exploration phase ends 2017 with drilling commitment(?)....we need action and we need it fast - BoD promised to drill this three years ago now promises by mid next year......Do we believe them?

I think the board's priority is to explore options in SE Asia to create an income. XX1 seems to be being delayed until as late in the drilling phase as possible so that BOIL can invest current cash in profitable options in SE Asia. Hopefully a partner will support BOIL and pay some/all the drilling costs.

Offshore Peru - as said above a dead duck really not worth thinking about other than to eventually get our $2M - where is it UOG?

UOG will be making the call on this once they are 80% owners - hopefully the change of ownership of 80% will be completed by the end of October. Whether UOG can find a partner remains to be seen.

[petecb1] 07/10/2016 09:26

Penury no company wouldn't drilled z34 over recent years. There's far better and easier prospects out there where drilling is being cancelled. Would've been crazy to drill Z34

[petecb1] 07/10/2016 09:24

Don't forget Simon selling is always an option. 0.4p is better than 0.0p

[simon8] 07/10/2016 08:47

Pem, agree, I've ranted about UOG for years, they were the dead end partner from hell, Z34 was meant to be the jewel in the crown but I don't see it getting drilled for years with UOG at the helm...which will probably be too late for BOIL as cash will run out long before that [Z34 was why a lot of us have hung in here for so long] unless we have success elsewhere... we seem to be reaching for the last few straws afloat:

INFA option - how likely that will be monetised before option expires?

NI exploration drilling - do we want anymore of this high risk, cash burn we can't afford

Onshore Peru - can't farm-out, BoD don't want to sole risk - current exploration phase ends 2017 with drilling commitment(?)....we need action and we need it fast - BoD promised to drill this three years ago now promises by mid next year......Do we believe them?

Offshore Peru - as said above a dead duck really not worth thinking about other than to eventually get our $2M - where is it UOG?

Our roaming nephew picking up a pot of cash from his uncle around SE Asia, I ask you...

No revenue coming in and G&A and large salaries going out the door.....


Happy Friday all

[pembury] 06/10/2016 17:00

Union would fail to drill it at $200 OP imo
Needs someone who knows what they are doing, unfortunately Boil got in with the wrong partner as it has been stagnant under them for years even though they regard the asset as "world class"

Then why hasn't it happened Union?

[the guardian] 06/10/2016 16:42

Only without recovering the money!

[nlmbidc] 06/10/2016 16:38

Didn't we do that already to UOG.