Baron Oil Share Discussion Threads

[2admiral] 11/9/2017 14:48

FdeBoer was sacked after 77 days for his results performance at CP, perhaps he should try Boil he would be given years with the end result being wipeout.

[simon8] 11/9/2017 14:42

So I guess the end story we have today is:

1. XX1 no farm in partner BoD seem unprepared to sole risk with what they have left in bank (they couldn't keep drawing their salaries if they did). licence coming to end of term with a drill commitment that isn't being honoured - looks very bad.
2. Z34 no farm in partners despite years of trying by UOG; back to 50% ownership therefore need to find 50% of drill costs absent a farm-in and carry.... looks incredibly bad, time running down on licence.
3. Cash position not good and verified we'll never see the $2m (less tax); we are still owed costs by UOG which I guess we won't see either.
4. SE Asia a pipe dream, no cash to do any kind of meaningful deal, any prospective partner would not want to farm out to a partner in Baron's predicament - been a waste of valuable resource and time.
5. Company needs funds with only realistic option a placing, but who would subscribe, it's a dead duck.

Depressing!

[simon8] 11/9/2017 14:20

Pete...drill or drop on XX1 was September this year if I recall correctly but that has likely extended due to FM re the flooding earlier in the year; don't know re Z34 but the wording in the RNS was ominous given they reflected on not much time left to pull the proverbial out of the fire...

Worst case scenario is e lose both licences before they are drilled..... they will be relicensed and then we will all be sick when we read that the new players have struck bags of gas / oil.....

I have a long time ago mentally written off this investment as the writing has been on the wall for so long.... blaze of glory time, drill at sole risk XX1....

I wonder what on earth those much larger holders are thinking, the likes of Mrs P et al.... why do they continue to support this BoD?

[pembury] 11/9/2017 14:17

Peteb1 It is the same situation for Karoon on the neighbouring block.

After floating in 2004 the company now finds itself sat at record lows, the board get well rewarded though so no problem.

[charlie81] 11/9/2017 14:12

Chinadog3, i have no real interest in this compamy anymore, i realised in all probability it what going to fail quite sometime ago, just want to be here for the end so i can gloat, imagine having this on your cv, career defining moment dont you think. 81.

[petecb1] 11/9/2017 14:00

Does anyone know how much time is left?

[chinadog3] 11/9/2017 10:38

How lovely: stuffed for $2m given `UOGG's failure to abide by the terms of the FIA` and yet we are now in bed it seems with a wholly owned subsidiary of UOGG . And if UOGG has no assets worth pursuing what does that make the subsidiary in terms of credibility?

Still as has been alluded to, the Board are remunerated. How is that nephew?

[simon8] 11/9/2017 09:28

Would love to see a copy of the farm out agreement with Union, I am, like you astounded that they didn't have a late payment clause with interest and penalty provisions; it's industry standard!

Though perhaps they have, who knows.... they have said in the past that the "legal" route would be too costly and take too much time; we are where we are, we have a hopeless and broke partner on our flagship acreage and nothing we can do about it.

[pembury] 11/9/2017 08:57

Don't buy that Union theory, my guess is if they could sell it on to a major they would. Boil's best short term prospects are to get a partner for xx1 and secure something else low risk, low cost onshore.

Union owe the business $2m, amazed no penalty clause in the agreement!.

Remain totally unsatisfied with the Boards performance over the last 18 months.

[chinadog3] 11/9/2017 08:52

Charlie 81: a decent Liquidator/Receiver would pursue that debt vigorously. It might not mean much to SHs but I doubt that Boil going bust would inspire Union as you suggest

[peruoil] 10/9/2017 14:22

Personally disgusted at the Director's salaries for achieving nothing for years and this is with a cut!. Seriously the powers that be, wake up, surely we can get a productive team in place for this amount and not waste anymore time and money backing a non starter.

[happyholder123] 09/9/2017 10:44

HNR -
TWO wells successfully drilled with abundant oil and gas in samples extracted!
Fracking and FIRST OIL next month!
Don't miss this train!

[nlmbidc] 08/9/2017 19:58

No they can't Charlie, unless they buy Gold Oil Peru for a pound. Now that would do it.

Maybe we could outbid and pay £2. But we would still have drilling obligations.....

[charlie81] 08/9/2017 18:53

one share trade is been used when you are being charged by your broker to maintain account, its cheaper to by a single share than pay fees. Union are waiting for us to go bust, and our leaders know they dont have the cash to challenge in court imho.
once again i will ask, when this dog bites the bullet, does anyone know if the big shareholders can deposit our acreage into another company, by passing the likes of us poor punters. 81.

[2admiral] 08/9/2017 16:56

Sent my cv across. Looking for a job at Baron Oil now then booking a years sabbatical on execs pay and package. Easy money or what.

[pembury] 08/9/2017 15:16

Ridiculous remuneration for a board that hasn't delivered anything for two years!.

Cash in bank is incorrect as £3m of that is held in escrow so unlikely to see that for a while or at all if Union don't get their finger out.

[cyclic] 08/9/2017 15:03

Baron Oil Financials

31/12/16
Wages and Salaries £423,000
Directors Emoluments £297,000
Operating profit minus £241,000
Cash at Bank £5,231,000

The pain could last quite a while longer yet!

[pembury] 08/9/2017 13:38

probably the board doubling their totally insignificant and uninspiring holdings!.

[simon8] 08/9/2017 11:50

Blimey, that one share trade.......it's a sign!!!!! Got to laugh.....

[2admiral] 08/9/2017 11:17

Sure Janetp is delighted with the performance of the CEO since June 2016 appointment,,,,,,,,NOT!
Just surprised he has been given so long when most would be outed.

[charlie81] 07/9/2017 11:29

Once this company dies, can the acerage in south america be spirited of somehow by the large shareholders, does anyone know. 81.

[chinadog3] 07/9/2017 09:24

Oh dear I have so many shares in this wretched company, and they are diluted to the point of making it pointless to sell.

Perhaps we should be sticking pins into the board ( metaphorically) rather than asking it to pull its finger out.

[2admiral] 06/9/2017 11:26

This Board owes this company big time, no question.