Baron Oil Share Discussion Threads

[petecb1] 23/2/2017 19:33

Probably not but that didn't stop any of us.

[petecb1] 23/2/2017 18:24

Has Peruvian tax gone up 2%!?

[valentine] 23/2/2017 16:04

Ask him..


He has until April 1st before stipend runs out or, indeed, gets renewed.

[chinadog3] 23/2/2017 15:23

How is the nephew doing anyone? No quips please like: `very well thank you`

[nlmbidc] 20/2/2017 20:20

You could well be right petecb1.

Should get an update on extension - if there is going to be one - before the end of March. Perhaps within 3 weeks.

[petecb1] 20/2/2017 19:17

Not getting my hopes up there. Most likely rns for Asia will be, no new projects currently, extended contract for a further 6 months.

[pembury] 20/2/2017 12:15

5 months in on the Asia JV and one to go!

[nlmbidc] 16/2/2017 21:45

B2G,
Needs drilling news or new asset from SE Asia before 1p plus.

[backtogo] 16/2/2017 21:01

odd isn't it.. anyway thinking break out soon to 1p+

[joetricky] 16/2/2017 12:23

B2G I was looking at that and wondered if we had a bot set up. Now that would have been interesting.

[backtogo] 16/2/2017 10:33

strange buys of 10k. The fees and sd would nearly be as much

[pembury] 15/2/2017 15:48

Go a long way in this mkt.
SP been flat for far too long so what is being done to reverse this record low?
Directors filling boots?

[nlmbidc] 15/2/2017 12:45

Don't think so Pembury. The money in escrow will be linked to the licence rather than the operator.

Of course if we drill Z34 we will have met the terms of the licence and can then release the money from escrow.

Lets hope for drilling news on Z34 soon then......

[pembury] 15/2/2017 12:00

When Union farmout does that mean Boil can then sell the operatorship and get the $3.6m out of escrow?

[simon8] 15/2/2017 08:41

That would seem logical, though of course if we have another change of operatorship is that another 3 1/2 years to wait while Peru shuffles paper in order to confirm the farm-out and change in operatorship! Big problem is we are in a buyers market and there are plenty of assets on sale at the moment with production today and pure exploration plays (and expensive ones) with long lead times are out of vogue.........

[nlmbidc] 15/2/2017 07:59

Pete,

I think buying UOG's share for twice what they paid boil for it would be the best option for a major. They would then get 80% for $12 million plus operatorship.

I guess that was UOGG's plan all along.

Of course it could go for more than double what UOGG paid.

We shall have to wait and see.

[2admiral] 14/2/2017 21:52

You said that about the previous board nlmbidc!!!!!

Tbh was expecting much more here than run of the mill rns's. Z34 news is just standard procedure with the authorities granting Uog the farmin. Been on their desk for years so they can't really claim credit for that either.
Their resume's suggest to me they are significantly under delivering here and have been for some time.

[petecb1] 14/2/2017 20:57

I hope to be there nimbidc.The thing I still can't understand if this is all to work out in shareholders favour, is why any company in their right mind would farm in to z34, costing them 10's of millions in drill costs, and settle for a percentage of the rewards.If you're going to take that risk, you'd be mad not to just buy boil.

[nlmbidc] 14/2/2017 19:20

Lots of griping on here today.

I have been a shareholder since July 2004 - just 3 months after they first listed.

I topped up today.

I have complete faith in BC and MB. Difference between most on this board and myself is that I attend the AGM's every time that I can and talk to the directors and ask any questions that I have.

Next AGM will be in late June. If you have a lot of shares in BOIL please come along and meet the board.

[simon8] 14/2/2017 14:19

Charlie, Petecb..it is so hard keeping the faith with this one and it does drive me to distraction and I weep at my losses to date. Whilst GM was a good guy and the share price went high under him he did choose to drill two wildcats without seismic, OK fine, history; since then we have been plagued with rubbish boards (exception perhaps RB) who lacked direction or action and have done little except pay themselves...Colombia was a debacle in the end and in my view much more could have been done, we have failed for years to do any drilling in Peru, perhaps partly due to appalling Govt inertia, a rubbish partner (why did we farm out to them, where was the company DD) but mainly due to failure of company to engage - it is a primary object for O&G to deal with local authorities and sell the story! We have had the rubbish NI investments and the wandering nephew, I expect nil from either...

We need to drill onshore Peru with an urgency that reflects the precarious position of the company... whether that is on a sole risk or farm-down basis is another matter but I sense we will be left the way we are going with a sole risk drill or return the license.

BoD - over to you, earn your salaries and get the job done.

I live in hope but the light at the end of the tunnel still seems very dim.....

[petecb1] 14/2/2017 12:48

I've thought the same Charlie for a while, but choosing to have faith that after all this time they would have at least had that conversation with the relevant authorities and renegotiated the royalties if needs be to get some movement. Otherwise what's the long term view? Wait for us to go bust and loose the license so they can get a higher royalty percentage? I can't see that as even if we did go bust the administrators would sell the license to the highest bidder with the same terms. At the end of the day 15% of a developing block is better than 50% of nothing. Likewise if they wanted us out of the block, it would have been easy to reject a force mejure status and then when we failed to meet the license terms take the license away.

[pembury] 14/2/2017 12:29

Not enough money to drill xxi at 100% and do asia expect mandap.
Quite why no deal has been done at low cost 50% carry is beyond me.
Not sure what the country manager is doing?