Black Rock Share Discussion Threads

[trickyboyfish] 20/12/2008 22:28

Dawn Davies - 2nd place - a dead ringer for Catherine Zeta Jones

[trickyboyfish] 20/12/2008 22:26

John Cubbit - 3rd place - as Kenny Rodgers

[trickyboyfish] 20/12/2008 22:22

Well, as another year draws to an end, we should all remember that it it Black Rock Oils official 8th birthday today.


Firstly, a big thanks to the Captain and Ivan for their well researched and in depth analysis of the company. And thanks to everyone else for the general banter and good humoured posts which keep this one of the better BB's.



I am ending my year here with a BLR look-a-like competition. (which I did earlier in the year)

And here are the final results....

[futhark] 19/12/2008 19:56

Ho! Ho! Ho! look at the sp! Merry Xmas everybody.

[maxk] 19/12/2008 18:51

A picture of Nikki, caught unawares...as it were.




Who do the deed then?

[dr jekyll] 19/12/2008 16:52

Good find steelwatch. Thanks for posting it.

[fartin croak] 19/12/2008 13:19

I promise I wont say a word

[nikkibrookes] 19/12/2008 13:17

........... and don't you DARE answer that, if "you-know-who" is watching.

[ljsquash] 19/12/2008 12:54

Nice find steel - Thanks!

[steelwatch] 19/12/2008 12:37

"The company plans to focus 60.5% of its total capital investment plan on its exploration and production segment, the largest percentage of which will be allocated to the Llanos Orientales and Middle Magdalena region to capitalize on the development of the heavy crude and mature fields located there."

[joebloggs1013] 19/12/2008 12:29

A very important question, from someone who rarely posts.



Did anyone ever shaft NikkiBrookes ?



The suspense is killing.

[dr jekyll] 19/12/2008 09:32

Morning all.

Great post Ivan and so clear that even I could understand it :) It sounds right to me but that may be wishful thinking on my part and I am no accountant either :)

[futhark] 18/12/2008 22:51

(onehundredandbloodytwentymillionpoundsworth)

I want my share you tight gits!

[prudence broon] 18/12/2008 22:43

As soon as there is enough in the kitty to pay tax, not before!

[futhark] 18/12/2008 22:40

SO When do we get payed our Dividends???

[prudence broon] 18/12/2008 22:22

Ah, another company with a few quid, nice one boys and girls.


My representatives will be paying you a visit in the near future !

[ivanburgess] 18/12/2008 22:06

STREWTH !!!! I totally forgot, yes, its our birthday. Sue ... why didn't you remind me? Then it must be down to PK to get the cream cakes in. Everyone call in at the office, and you'll be made very welcome indeed. Stop for a glass of something. Just tell them that Ivan sent you. They'll probably get the crystal glasses out.


By the way, mornin' all. I have caught up, and have actually read the small print, and I have to admit, it rather pleased me to see the deal that they struck. But you know the best bits were in the small print. We, the actual shareholders do finally get the chance to participate in the next deal ..... at the subscription price!!!! That certainly is a first. Many small holders have made their views known in the past placings, that they didn't get the opportunity to get some in. Well, now we have. I wonder, yes, maybe I just have the feeling that we have been listened to, and they did think of us when they struck the deal.

They didn't have to do anything for us, for the big money will come from the new boys, and they will only take it forward if it is going to be a success, yet our directors have had it put in the agreement. If Cetus don't like the chances, there won't be a further placing at all, so if there is one, it looks pretty good odds on a success, and we will have first crack. Maybe thats the company's way of saying thanks to the loyal long-term holders who have suffered so much along the rocky path to where we are today. I would like to think so. (and actually can't think of any other reason why they would put that clause in).

But many other aspects of this deal tell me that its a good one, ....... in fact bloody good. If you look at the number of small oilies that have found oil, but can't raise the money to bring it out, and so many others who just cannot even get that far, but no-one, simply no-one can get any finance, for no-one will lend anyone any money at all, even banks to banks. There are so many companies who are screaming for finance, and many will (and are) going under for the lack of money. Those who don't go under, are just being picked off by the big boys for peanuts. Those that have money to invest just ask themselves who is the most desperate. Who has the best reserves for us to steal for pennies? Yet in this climate, our directors have struck a deal which keeps us independent, able to get the oil out, pay our way for probably as long as it takes.

If you look at the leverage of our position, we have the £2m Cetus injection, Prospero's US$4m (which is just under £3m, giving us just under £5m to pay our 25% of Las Quinches development costs. That means that we would be fully paid up for a total of £20 million's worth of development costs at Las Quinches. That buys you an awful lot of wells and kettles and bigger tanks to put the stuff in. Certainly enough to last until it flows out of our ears. Now here's the interesting bit. If Ecopetrol back into Acacia, they too, pay their share of the costs, so that £20 million's worth of development costs now becomes £40million's worth of development. Wow! We couldn't even dream about that kind of development, even before the credit crunch.

Now it could get even better. The next stage...... providing it all pans out ok, and Cetus don't get fed up of making all this profit, they will then invest/fund/loan another £5m-£10m, again for our 25% share, making us paid up for another £20-£40million's worth of development. And again, if Ecopetrol back in, then that becomes a total of up to £80 million development costs we will be funded for. (That is in addition to the aforementioned £40million development, making ........... a total of onehundredandbloodytwentymillionpoundsworth of development.)

Somebody tell me that I have got it wrong .... or am I dreaming?

So I agree with all those who said JC and PK have done the miracle. Well done, those men. They have certainly done us proud, and got us one hellova deal.

But if anyone from the Crock ever reads these boards, don't get carried away, for the cream cakes are still on you. Lol.

[captainnelsonforties] 18/12/2008 21:57

Fut,

True. Proven oil at Arce with shut-in wells that have produced oil. Proven oil at Acacia with shut-in wells also produced oil. Baul shut-in in the 60's due to low oil prices. These are three heavy oil accumulations that all have produced from discovery wells, with Arce and Acacia successfully appraised. All four wells on Arce have flowed oil to surface. Also the discovery well and appraisal wells on the Monterey tight gas field in the Southern Gas Basin of the North Sea has also produced gas. According to Pacific Rubiales/ Petrotech report Arce and Acacia are due for short-term redevelopment.

Captain Nelson Forties

[maxk] 18/12/2008 20:23

Anyone can do that Tricky, all you have to do is drink it....lol

[trickyboyfish] 18/12/2008 20:22

I can turn wine into water, hic ;)

[maxk] 18/12/2008 19:57

And his name is Tricky....

[futhark] 18/12/2008 19:54

Now I do believe there is a God.

[trickyboyfish] 18/12/2008 19:46

Jimarilo - 17 Dec'08 - 13:03 - 2536 of 2566

"Expect Peter Kitson, sorry Mr. Peter Kitson to walk on water anytime soon and to turn water into wine"