Share Name Share Symbol Market Type Share ISIN Share Description
Bullion Res LSE:BLO London Ordinary Share ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p - - - - - - - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - - 0.00

Bullion Res Share Discussion Threads

Showing 376 to 399 of 400 messages
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DateSubjectAuthorDiscuss
01/4/2005
09:27
New thread: http://www.advfn.com/cmn/fbb/thread.php3?id=8755578
opthalmist
01/4/2005
09:25
New EPIC is NPE
opthalmist
31/3/2005
22:11
what happens to this thread after today? new thread new epic?
macca28
31/3/2005
13:31
New boys in charge would expect some newsflow now over the short term on their drilling programme etc
greenspamster
14/3/2005
00:47
10.03.2005 Nautical Petroleum Hones In On North Sea Heavy Oil Because It Has The Technology To Make It Viable One of the latest arrivals on London's Alternative Market is Nautical Petroleum. The group holds the upstream and non-trading assets of Masefield AG, which is a global trader of crude oil and refined oil products. Nautical has got its listing through a reverse takeover of the desultory mining stock Bullion Resources which had become a cash shell, in a deal worth over £20 million. Like other oil groups Nautical has honed in on the North Sea. These groups have become known as scavengers picking up parcels of assets which the big boys BP, Shell and Chevron Texaco deem too small or immaterial to their interests. Without the vast overheads of the majors smaller groups can put together various blocks and squeeze extra output from the mature fields. With commodity prices high, groups like Paladin Resources and Venture Production have flourished in recent years by scavenging. Nautical is different in that it has decided to go for discovered heavy oil in the United Kingdom Continental Shelf in the North Sea. " Heavy Oil!" I hear you say. "Surely that cannot be a good idea. Recovery rates are low?" The heavy oil sells at a discount to Brent Crude, the benchmark for North Sea production. Many groups, having discovered heavy oil, have decided to leave it there. Chevron Texaco is a case in point - it has never developed the discoveries in the Mariner field in the East Shetland Platform. Critically, through its association with Masefield and through a key acquisition, Nautical has acquired exclusive technology to process the heavy oil and market it for power generation at economically viable prices. Britain's Department of Trade and Industry (DTI) has been encouraging investment in the North Sea where it says there could be 14 billion barrels of unexploited oil in various pools and pockets. However, after several years of scavenging the smaller groups are finding it increasingly expensive to pick up new fragments. The larger groups are tending to hold on to their little bits and pieces to gain a couple of years more revenue while oil prices are sky high. If they do sell, it is at top prices. The first thing to be said about Nautical's operation is that because it is heavy oil, which for all intents and purposes is "stranded" and unloved, the price of entry is low. While not revealing exact figures, Nautical has gained acreage by buying the existing 2D and 3D seismic at minimal cost and has committed to drill and develop the block. There are no expensive exploration costs. As a start Nautical has acquired a 100 per cent interest in two licences in the United Kingdom Continental Shelf, namely Licence P1077 over block 9/2b and Licence P1203 over block 3/27a. Licence P1077 contains the 9/2-1A oil discovery and is contiguous with licence P1203. Both are located on the East Shetland in the vicinity of the well-documented Bressay and 9/3 heavy oil discoveries. The valuation by Landmark Eame (a subsidiary of Halliburton) of the North Sea proven and probable reserves for licence block 9/2 is 51 million barrels of oil, with risked upside potential in block 9/2 of 295 million barrels in place. Licence P1203 (Block 3/27a) is contiguous to the north with block 9/2b.Seismic data purchased by Nautical on the wells in the vicinity of the block have generated several leads at the Heimdal Sandstone member level, and one significant lead at the Upper Jurassic Humber group in the north of the block. Although the oil discovered at 9/2-1A is 15 per cent API, Nautical is convinced it will flow, and that, with water injection, recovery rates of 30 per cent can be achieved. But it is what comes afterwards which looks to be Nautical's ace in the hole. As a third asset the group has been able to acquire ownership of specialised heavy crude oil production and processing equipment designed and supplied by Halliburton for the Extended Well Test (EWT) programme undertaken successfully on the Mariner oilfield by Chevron Texaco in 1997. This equipment is suitable for use in testing heavy oils down to 10 per cent gravity. The equipment can currently handle up to 40,000 barrels of oil and liquid production per day, of which 25,000 barrels can be oil. Although Heavy Acidic Crude Oils can sell at a discount of around US$3 a barrel to Brent Crude, this so called Multi Phase Super Fine Atomised Residue (MASR) process allows Heavy Acidic Crude Oils to be used for power generation and make them competitive with gas, coal and fuel oils. The sums are complex but to put this another way, and briefly: if you assume a model of a US$24.75 a barrel for Brent Crude, then once the Heavy Oil is put through the "cracker" and separated into light products - oil for upgrading and heavy fractions - then the compound overall price which can be realised is US$26.50 meaning Nautical can add value and make heavy oil production commercially viable. We say Nautical has made a start with its two blocks. There is scope for plenty more. The UKCS is thought to contain large discovered, undeveloped oil in place of 5 billion barrels. There is large potential additional oil in place of 5 to 6 billion barrels. This is capable of producing 250,000 bopd plus by 2008
greenspamster
13/3/2005
20:38
The Sad Saga Of Bullion Resources Ends And A Bright Future Opens As Nautical Petroleum ... by google:13:03:05
macca28
13/3/2005
19:00
Buy Nautical Petroleum Suggests Stewart Dalby of Oilbarrel.com The latest turnaround of Malcolm Burne, mining and oil entrepreneur at natural resources investment group AIM-quoted Golden Prospect, is the desultory mining company Bullion Resources. Bullion became a cash shell with some 1.5 million pounds in the kitty. The upstream oil and gas interests and non-trading assets of Masefield AG, which is a global trader of crude oil and refined oil products have been injected into Bullion. It has become Nautical Petroleum in this reverse takeover in a deal worth over 20 million. Bullion Resources was suspended at 6p. When Nautical shares went live recently they immediately rushed up to 10.5p. But there could be a lot more to come. It is interesting story with plenty of upside. The value of investments can go down as well as up. Investing in equities can lose you part or all of your capital although the potential returns are theoretically unlimited. Smaller company shares can be relatively illiquid and thus hard to trade. And that makes such investments more of a high risk than larger company shares. Like other oil groups Nautical has honed in on the North Sea. These groups have become known as scavengers picking up parcels of assets which the big boys BP, Shell and Chevron Texaco deem too small or "immaterial" to their interests. Without the vast overheads of the majors smaller groups can put together various blocks and squeeze extra output from the mature fields. With commodity prices high, groups like Paladin Resources and Venture Production have flourished in recent years by scavenging. Nautical is different in that it has decided to go for discovered heavy oil in the United Kingdom Continental Shelf in the North Sea. " Heavy Oil!" I hear you say. "Surely that cannot be a good idea. Recovery rates are low?" The heavy oil sells at a discount to Brent Crude, the benchmark for North Sea production. Many groups, having discovered heavy oil, have decided to leave it there. Chevron Texaco is a case in point - it has never developed the discoveries in the Mariner field in the East Shetland Platform. Critically, through its association with Masefield and through a key acquisition, Nautical has acquired exclusive technology to process the heavy oil and market it for power generation at economically viable prices. Britain's Department of Trade and Industry (DTI) has been encouraging investment in the North Sea where it says there could be 14 billion barrels of unexploited oil in various pools and pockets. However, after several years of scavenging the smaller groups are finding it increasingly expensive to pick up new fragments. The larger groups are tending to hold on to their little bits and pieces to gain a couple of years more revenue while oil prices are sky high. If they do sell, it is at top prices. The first thing to be said about Nautical's operation is that because it is heavy oil, which for all intents and purposes is "stranded" and unloved, the price of entry is low. While not revealing exact figures, Nautical has gained acreage by buying the existing 2D and 3D seismic at minimal cost and has committed to drill and develop the block. There are no expensive exploration costs. As a start Nautical has acquired a 100 per cent interest in two licences in the United Kingdom Continental Shelf, namely Licence P1077 over block 9/2b and Licence P1203 over block 3/27a. Licence P1077 contains the 9/2-1A oil discovery and is contiguous with licence P1203. Both are located on the East Shetland in the vicinity of the well-documented Bressay and 9/3 heavy oil discoveries. The valuation by Landmark Eame (a subsidiary of Halliburton) of the North Sea proven and probable reserves for licence block 9/2 is 51 million barrels of oil, with risked upside potential in block 9/2 of 295 million barrels in place. Licence P1203 (Block 3/27a) is contiguous to the north with block 9/2b.Seismic data purchased by Nautical on the wells in the vicinity of the block have generated several leads at the Heimdal Sandstone member level, and one significant lead at the Upper Jurassic Humber group in the north of the block. Although the oil discovered at 9/2-1A is 15 per cent API, Nautical is convinced it will flow, and that, with water injection, recovery rates of 30 per cent can be achieved. But it is what comes afterwards which looks to be Nautical's ace in the hole. As a third asset the group has been able to acquire ownership of specialised heavy crude oil production and processing equipment designed and supplied by Halliburton for the Extended Well Test (EWT) programme undertaken successfully on the Mariner oilfield by Chevron Texaco in 1997. This equipment is suitable for use in testing heavy oils down to 10 per cent gravity. The equipment can currently handle up to 40,000 barrels of oil and liquid production per day, of which 25,000 barrels can be oil. Although Heavy Acidic Crude Oils can sell at a discount of around US$3 a barrel to Brent Crude, this so called Multi Phase Super Fine Atomised Residue (MASR) process allows Heavy Acidic Crude Oils to be used for power generation and make them competitive with gas, coal and fuel oils. The sums are complex but to put this another way, and briefly: if you assume a model of a US$24.75 a barrel for Brent Crude, then once the Heavy Oil is put through the "cracker" and separated into light products - oil for upgrading and heavy fractions - then the compound overall price which can be realised is US$26.50 meaning Nautical can add value and make heavy oil production commercially viable. We say Nautical has made a start with its two blocks. There is scope for plenty more. The UKCS is thought to contain large discovered, undeveloped oil in place of 5 billion barrels. There is large potential additional oil in place of 5 to 6 billion barrels. This is capable of producing 250,000 bopd plus by 2008. That is a lot of oil, particularly if you can sell it profitably. The shares are attractive. Stewart Dalby edits the definitive source of information and comment on oil exploration stocks - www.oilbarrel.com - for more details of this free to access site click here. These are new to me - think I'll watch them!
huntie2
13/3/2005
15:28
http://www.goldenprospectplc.com/pdfs/BullionResources040305.pdf
macca28
10/3/2005
23:57
yes its up alright, basically all my punts are under 20p but like you say oil is booming right now desire pet were 10p last year petrel res, have been chaotic i have my money tied up in 6 companies right now when i free one i will start studying again,
macca28
10/3/2005
21:09
Macca. Good one. Have put my proceeds yesterday to add to my position in CSH (Caspian Holdings) which gained 7.8% today. It has a market cap of £41 million and owns 100% of a producing oil field in Kazakhstan. There the drill costs are only $320,000 per well and it is drilling development/production wells at the rate of 1 every 3 or 4 weeks. It is probably 2 years+ ahead of Bullion/Nautical, is land based (drill costs and infrastructure cost a fraction of sub sea) and will be profit making for the full year 05. The profits will go towards funding further leases, seismic and drilling costs as they ramp up the scale of their operations. CSH listed only in November and should be a multi bagger from here in the next 12/18 months ..... no ifs or buts, it has the oil and is expanding production! Plenty of time to get back into BLO if it progresses. Take a look!
stevea171
10/3/2005
19:34
all sellers will be looking at this http://media.euniverse.com/funpages/cms_content/2461/flyin_egg_fight.swf
macca28
09/3/2005
22:46
macca you are correct profit takers were afoot in abundance, it is now weakening and resistance is futile
the borg2
09/3/2005
19:11
but nevertheless i have seen this happen on many occasions when a company in the doldrums for ages suddenly gets a change of fortune,and people who have been waiting so long for something to happen, just cant wait to dump everything and take the profits well blo has lost some ground under the bombardment but there is no doubt its in a better position now that its been for a long long time,
macca28
09/3/2005
13:49
oh that sad sinking feeling,takes away all ones faith
macca28
09/3/2005
13:38
topvest i see your point,people seem to be panicking now the price is falling, its only human nature to take the profit
macca28
09/3/2005
13:00
I've sold out. Good deal, buy there is no way it's currently worth 3 times the 3p deal value. £70m is a hefty market value. Didn't do as well as I should have done on this as I bought too early. Never mind, a profit is a profit. May get back in at close to the 3p level if it ever gets that low.
topvest
09/3/2005
12:17
RNS News above. Macca. Have decided to take profits for now, and will come back later. In answer to your question 'when will the real ball game begin' it is hard to be too precise. It could be any time from now on, or not till after 1st April when Nautical will be listed in its own right. It just needs coverage from say Shares magazine, Red Hot Penny Shares tip sheet, or something similar to get the news out to the wider investing public and there should be a lot of demand. Good luck for now.
stevea171
09/3/2005
12:17
http://www.uk-wire.com/cgi-bin/articles/200503091013335130j.html
macca28
09/3/2005
10:59
macca. Agree with last night's post. EGM is set for 30/3. If all resolutions passed (should be a formality) then: 1/4 Bullion delists and trading commences as Nautical Petroleum with 775 million shares in issue, but 90% subject to 12 mths lockin, and of the remaining 77 million, the directors of GOL and associated parties control approx 37 million, so only approx 40 million in free circulation up to 1/4/06.
stevea171
09/3/2005
10:57
stevea hers a bit of info,,of sorts,mariner field developement http://www.awtgroup.net/3_our_experience_view.asp?ContentID=10
macca28
09/3/2005
10:47
stevea i am not has experienced has you in shares, so can you put me right on a few pointers, 1:will blo, delist? 2:relist under nautical 3:will that be when the real ball game begins
macca28
09/3/2005
10:03
Proposed directors of Nautical Petroleum (Bullion) are heavyweights for a company of this size: Ian Williams Proposed Chairman (aged 58) joined the Masefield Group in 1999 as a member of the Group Executive committee, with responsibility for the development and management of business ventures. In this capacity he has led the strategy to secure the portfolio of assets and interests and the formation of Masefield Energy Holdings. Ian spent over 27 years with the Royal Dutch/Shell Group in various capacities, including as Managing Director and Deputy Chairman of Shell South Africa, Vice President-(Downstream) of Shell Philippines and most recently as Head of Strategy & Consultancy-(Downstream) at Shell International Petroleum Company in London. In senior management roles he was accountable for growth through development and acquisition in large companies typically involving project generation, investment evaluation and deal structuring with annual capital budgets in the range of US$200 million plus. Ian was closely associated with the application of contemporary change management and was involved with the mid 90's review of the Shell Group structure. Ian left the Shell Group in 1996. Ian Williams has also been actively involved in related industry and business associations. He was the first Chairman of the Board of Governors of the Private Sector Foundation in Namibia and during the early 90's was a committee member of the Consultative Business Movement associated with the promotion of negotiated political transition in South Africa. Stephen Jenkins Proposed Chief Executive Officer (aged 46) joined the Masefield Group in 2003 and is responsible for all up stream technical management. He played a leading role in securing the successful award of licence P1077 to Nautical Petroleum AG. Stephen has over 20 years' technical and management experience in exploration and production world-wide with a range of oil and gas companies. Prior to joining Masefield, he spent 11 years at Nimir Petroleum where, as Business Development and HSE Manager, he was responsible for the development and evaluation of acquisition strategy and all technical dimensions of the company's strategic planning. He successfully led multidisciplinary teams to evaluate opportunities in North and South America, the Middle East, North Africa, and other OECD countries. This led to the acquisition, for nominal consideration, and the subsequent turnaround of a Venezuelan oil producing field. Stephen managed a drilling programme in Yemen, Russia and Tunisia/Libya which included the quadrupling of production in a field on Sakhalin Island, Russian Federation. He also identified and secured a farm out with a major oil company for a substantial carry on a large oil field in Kazakhstan. Stephen has an MSc in Petroleum Geology and DIC from Imperial College of Science and Technology University of London, a BSc Hons in Geology from Queens University Belfast and is a Fellow of Geological Society of London. Hemant Thanawala Proposed Finance Director (aged 47) joined the Masefield Group in 2001 as its Chief Financial Officer and is a member of the Masefield Group Executive Committee. He is a Chartered Accountant by qualification with over 25 years' professional and commercial experience. Prior to joining the Masefield Group, he served as the Chief Financial Officer of Premier Telesports Group for three years. The group was involved in the entertainment sector in parts of Eastern Europe and the former Soviet Union. He played a key role in all material corporate finance matters including the raising of equity finance through two private placings and listing the group on the Vienna Stock Exchange, negotiating all material contracts and licences, implementing rigid financial controls and reporting systems and setting up and running the main operation base in Moscow. Prior to joining Premier Telesports Group, he served as a finance director of Rostel Group for 9 years, a diversified group involved in the manufacture and distribution of consumer products either in joint ventures or through collaboration with 'blue chip' corporations such as Cadbury Schweppes Plc, Sara Lee Corporation, Associated British Foods, Mars Corporation, Revlon, Imperial Tobacco and Black and Decker. He played a key role in the expansion of the group's business in several emerging markets in Africa, Eastern Europe and the former Soviet Union and was instrumental in the negotiation of the joint venture with Cadbury Schweppes Plc which led to a single investment of over US$100 million in a 'state-of-the-art' chocolate manufacturing facility near St. Petersburg and associated distribution network. Before joining Rostel Group, he was involved in professional practice in the UK, qualifying with KPMG Thomson McLintock (now KPMG), specialising in audit, tax and management consultancy. Paul Jennings Proposed Commercial Director (aged 47) joined Masefield in 2000 with responsibility for exploration and production finance and business development. He has over 25 years' experience in the oil and gas sector as an accountant, economist and commercial and business development director. Paul spent 17 years with BP; initially working in the finance area and ultimately becoming a Lead Petroleum Economist for BP Exploration Limited. After leaving BP in 1992, he spent seven years as an independent consultant, advising a number of key clients including the Russian and Chinese governments. In addition, during that period, he was Commercial Director Russia for Bitech Petroleum with responsibility for all related dealings with associates, authorities, and service providers for the development of oil production under Russian field licences. His key achievements include the successful acquisition and development of major oil and gas assets in Russia and West Africa and accessing and developing production licences in Russia. He has extensive experience of negotiating exploration and development commercial terms, including tax and royalty issues, at government and corporate levels. In addition, he was a key member of the British Petroleum plc team that identified the hydrocarbon potential of the Angolan deep water oil province. Since joining Masefield, Paul identified and progressed the Quadrise Canada business opportunity which involves application of the Akzo Nobel fuel processing technology in oil field steam generation. This has added significant value to the Masefield asset portfolio. He has also played a leading role in the development of oil reserve acquisition opportunities. Philip Dimmock Proposed Non-Executive Director (aged 58) has been an executive in the upstream oil and gas business, both in the United Kingdom and internationally, for over 30 years. He has directed the development of several oil and gas fields and has managed mature fields, reducing costs and arresting production decline. Throughout, he has been a champion for offshore safety. A graduate of Pembroke College, Oxford, a significant part of his career was with BP, where his key positions included Manager Forties Field, Project Director Forties Pipeline Expansion, Deputy Project Director Wytch Farm Development and Vice President Production Alaska. With Ranger Oil he was the Vice President of the International Division, responsible for activities in the UK and in Africa. He led development projects, operations and exploration, achieving a three times growth, both in production and reserves. He was Chairman of Ranger Oil U.K. Ltd and other subsidiary boards and an Executive Officer of the UK Offshore Operators Association. He has also recently spent time advising the Oil Taxation Office of the Inland Revenue in London on restructuring the fiscal regime for the oil industry. Mr Dimmock has been a consultant manager building the operational capability of Vanco Energy in the ultra-deepwater of a number of African countries, where he is also responsible for government relations. Patrick Kennedy Patrick Kennedy (aged 51) is a Fellow of the Institute of Chartered Accountants in England and Wales and is a member of its Faculty of Finance, having graduated with honours in Economics and obtaining an MA in Economics. He is Chief Executive Officer of PK Partners LLP, a firm of chartered accountants and business advisors and has spent more then 20 years in financial services, advising a cross section of quoted and private businesses in the UK and overseas. Patrick is currently an Executive Director of Bullion and will, following Admission, continue as a Non-Executive Director of the Company.
stevea171
09/3/2005
09:26
From Oilvoice yesterday. Of interest in particular is the company strategy, detailed at the end of the article. Bullion Resources plc Announce Acquisition of Nautical Holdings Limited Tuesday, March 08, 2005 -------------------------------------------------------------------------------- Bullion Resources plc has announced that the Company proposes to acquire Nautical Holdings Limited, a specialist energy company focussed on production of heavy crude oils from discovered reserves in the United Kingdom Continental Shelf ("UKCS"). The acquisition of the entire share capital of Nautical Holdings Limited will be effected by the issue to the Vendors of 697,500,000 Consideration Shares, for a value in the transaction of £20.93 million. The Acquisition constitutes a reverse takeover for the purposes of the AIM Rules. The Company intends to seek admission of the Enlarged Share Capital to trading on AIM following completion of the Acquisition. To align the name of the Company with the business to be acquired it is proposed that the name of the Company be changed to Nautical Petroleum plc. An Extraordinary General Meeting of the Company is to be held at 4.00 p.m. on 30 March 2005 at the offices of Stringer Saul, Fifth Floor, 17 Hanover Square, London, W1S 1HU, to approve the Acquisition. Insinger de Beaufort is the Nominated Adviser and Broker to the Company. Background The Directors of Bullion believe that the oil and gas upstream (exploration and production) sector of the energy industry offers promising growth potential for shareholders. The Directors of Bullion have been pursuing opportunities to acquire interests in the resources sector, with payment to be effected by the issue of shares. Nautical Holdings Limited is a subsidiary of Masefield Energy Holdings AG ("MEHAG") which itself was created in 2004 to hold the non-trading, asset based business interests of the Masefield Group. Nautical Holdings Limited has a 75% shareholding in Nautical Petroleum AG, which has a 100% interest in two licences on the United Kingdom Continental Shelf ("UKCS") namely: • Licence P1077 over Block 9/2b and • Licence P1203 over Block 3/27a Licence P1077 was awarded to Nautical Petroleum AG by the Department of Trade and Industry on 1 October 2003 and Licence P1203 was offered to Nautical Petroleum AG on 17 October 2004 and it received the licence for signature on 9 February 2005. Licence P1077 contains the 9/2-1A oil discovery and is contiguous with Licence P1203. In block 9/2b and surrounding area Nautical has purchased and interpreted 772 km of 2-D seismic data; purchased 192 square km of 3-D seismic data; purchased and interpreted the digital well data for 9/2-1A and completed an extensive assay of a sample of oil from well 9/2-1A. The programme to date confirms that there is an oil column of at least 33 metres. The area has the potential for a large structural closure up to 18 km long and 5 km wide which could contain up to 490 mmbo. Immediate plans are to reprocess the 3-D seismic before a detailed interpretation is carried out. Licence P1203 (Block 3/27a) is contiguous to the north with Block 9/2b. 476 km of 2-D seismic and the data on wells within and in the vicinity of the block were purchased by Nautical Petroleum AG. The interpretation of these data generated several leads on the block. The Licence P1203 was secured with a small work programme which includes the reprocessing of some of the existing seismic. The third asset currently held is specialised process equipment specifically designed for the Mariner discovery extended well test (EWT). The equipment is suitable for use in testing of heavy oils down to 10° gravity and will be used on the testing of 9/2b discovery and on any other Nautical development programme. The primary goal of Nautical is to acquire, develop and add value to further heavy oil reserves initially in the UKCS. Nautical intends to take full advantage of the current business environment namely the rationalisation of the UKCS assets resulting from industry consolidation, and limitation on major oil company resources, along with the existence of significant identified discoveries, which have been appraised but remain undeveloped. Strategy The New Board's key strategic objectives for the Enlarged Group are: • initially to become a production operator and develop the 9/2b discovery generating cash flow and increasing proven reserves within the next 2 years. The application of heavy oil production technology has proven the viability of producing heavy oil at commercially attractive rates in the nearby Mariner Field. As reservoir characteristics (such as oil quality and reservoir geology) in both the Mariner Field and the Block 9/2b discovery are broadly similar, the Directors and Proposed Directors believe that it is reasonable to expect that the 9/2b discovery can be successfully developed by the application of the technology proven at the Mariner discovery; • concurrently to acquire targeted reserves from third parties while participating in future licence rounds to acquire discovered oil and exploration acreage with modest work commitments. This reserve acquisition programme will be achieved by issuing ordinary shares, using its available financial resources and bank or other funding as appropriate, as well as by the drilling of development, appraisal and exploration wells; • to continue to enhance liquidity in its ordinary shares through these acquisitions whilst offering the prospect of capital growth rather than dividend yield; and • to develop Bullion into a well regarded oil production company, with a clear focus on a defined class of assets in geographic areas where the management can add value. http://www.oilvoice.com/m/uploadDetail_public.asp?upload_ID=3376
stevea171
08/3/2005
21:05
stevea this is how i see it, companies like tiger resources,who own 9 million blo shares and maybe a few others, will not be able (i dont think)to cash them in for a while,under the buying terms agreement so quite a percentage of the 70 million shares in issue will be untouchable, hence the shortage, that is perhaps why they sent out the persuaders, who will say what they can to get you to sell, also companies like gol will want to hold on to theirs as it cost them a packet to keep blo afloat in fact a sizeable percentage of the shares are held by just business men involved in the company colin bird and the board etc,etc
macca28
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