Baron Oil Share Discussion Threads

[hugomaracuya] 12/11/2017 03:12

Naaaah, Pete. I would think any oil company that offered us a deal like that for 4 million would be incompetent at best, if their directors really had a billion barrel potential, and their directors should be kicked out. If we saw a deal like that on offer, it would probably get rejected by us professional oil companies, as their directors obviously don't know much about the oil industry. It would maybe attract a few "chancers" who wouldn't be able to go through with it anyway. So I would say, leave well alone. ...... Oh, wait, ........ I feel a bit of deja vu coming on.

[petecb1] 11/11/2017 23:24

£4m could go a long way in the current climate. We could buy a 50% share of an offshore field in Peru, drill ready billion barrels plus. ;-)

[hugomaracuya] 11/11/2017 19:40

Joe. I was expecting carnage too, but if we look back, we had carnage from the beginning of September, when the share price fell from almost 0.4p, to half its value, 0.19-ish pence.

Could it be, that all this was discussed and investigated, legally, contractually, and financial ramifications, way back in September? It does take a while to investigate everything thoroughly. That would explain the massive capitulation in the sp, with once again, those in the know, having profited from this information, and again, the private investors losing their investment.

Is that why the share price didn't move on the RNS? Should be investigated, in my opinion.


Then we also have the question of the money in escrow. Under this latest deal with UOGG, they legally own half of Z34, even though they haven't paid for it. Therefore, it might just be that half the escrow money goes to them too? The word "Screwed" again comes to mind.


Third thing to consider, is what exactly is our petty cash going to buy? Its chicken feed, and won't buy us much at all. What kind of share do we get for the pennies we will have left? Trivial is an overstatement.

[2admiral] 11/11/2017 11:13

from July presentation;

Cash available £1.65m plus ESCROW ($3.6m) £2.8m.

Total £4.45m

Unless SE Asia is decent and a real option? I am not sure after failing at heavy financial cost in Northern Ireland, Colombia and Peru the board would use this cash wisely?.

Please prove me wrong in the weeks ahead!.

[nlmbidc] 11/11/2017 09:40

A lot of disappointment on this board understandably, but Z34 has essentially dragged the share price down from 7P plus on high hope to todays share price on no hope.

There were more shares bought than sold yesterday which demonstrates that the share price is at the bottom. The astute that have not been tainted by Z34 have a good buying price imho.

UOGG have absolutely no chance of accessing the ESCROW cash as it is under BOIL's control.

The SE Asia project should provide a good uplift in the share price once they get the boundary discussions concluded and the PSC contract signed.

[oildon11] 11/11/2017 09:32

We all know it was the end of the road when the bod started funding family adventures in asia where has our money paid gone?? Hookers and champers

[oildon11] 11/11/2017 09:30

Pem your the fool! I am the fool we are all fools for hanging on to this hoping for some miracle...There wont be any miracle we have lost our money fact is we have that little left in value there realy isnt any point in selling.We have been run over by the bus lying in the middle of the road crippled and brain damaged with nothing left... dont move me let the next bus just finish me off . ?It is almost laughable how we have been violated.

[petecb1] 11/11/2017 08:32

That said I do find it very odd that the market still value this at £3.5m

[petecb1] 11/11/2017 08:30

Even if they put an RNS out on Monday saying they'd relinquished all the other assets, SE Asia has no deals, the voting members decided the best action was to take all the money out the bank and put it through the shredder just before burning down the offices, I'm pretty sure some of the Uber optimists on here would still find a positive spin to harp on about all day long.

[pembury] 10/11/2017 22:20

With existing cash Oildon11! Who's the fool now then

They still have block XX1 which they could then drill and acquire and develop Asia interests with this cash.
Jury still out on the bod to deliver for the company, 2017 nearly gone and Q4 timeframes still to meet.
That has to be it imo after 2016 and the 17 we have had so far.

With oil prices at a two year high and still heading north with bullish signs for 2018 I am surprised they couldn't get a partner or even sell it. In the right hands the cash they get could work on new projects & xx1.

[pembury] 10/11/2017 18:04

Totally the wrong deal and partner, this company has so much good luck, not!.
At least now new options can be acquired outside of this country that don't sit stagnant for years without the need for any further dilution.

If the deal had been with a major oil company I doubt they would have mugged Boil off for so long with false promises about drilling and paying their financial obligations (which they weren't even penalised for!). Who drew up that contract?.

Down to Sundagas now to pull it off!.

It's last chance saloon with this cash.

[joetricky] 10/11/2017 17:46

I hope so. Let's face it UOG are a bunch of scam merchants and I for one don't trust them at all.

[pembury] 10/11/2017 15:30

I believe the escrow cash was in place long before UOG joined the party as Boil were operator.

[joetricky] 10/11/2017 15:21

Does anyone know if UOG actually put the money into the escrow account? They're not gonna mug us again are they?

[joetricky] 10/11/2017 15:18

2ad. I think the same. I think there's something on the table that needs closing quickly. Closing Z34 is the quickest way to finance it.

[2admiral] 10/11/2017 15:11

I think the Asia deal must be imminent for them to make this big call.
Regards, 2ad

[nlmbidc] 10/11/2017 14:41

Yes before Christmas for the first deal but with the escrow funds available I anticipate additional deal(s) within 6 months.

[pembury] 10/11/2017 14:40

Agree, it says before year end and I expect that!
Dilution will not be required now but this cash around £4m needs to be used strategically and wisely, probably out of Peru.

Although I expect they could drill xx1 Peru and Asia with that amount and still have funds.

[simon8] 10/11/2017 14:35

Another six months......

Though that is probably over optimistic given our BoDs turnaround on promises of delivery!!!!!!!!!

[nlmbidc] 10/11/2017 14:20

Baron oil could be a much bigger company by then. We all wanted an income from Z34 but we have tried and failed to get it moving since 2012.

If SE Asia gets going it could grow progressively. All is not lost and we know where the boards efforts will be going forward.

The Sundagas guys have a lot of experience in SE Asia so lets see how we progress over the next 6 months.

[mallorca 9] 10/11/2017 12:30

Poor Pembury,

he's spent over 10 years of his life waiting for Z34 to come to fruition, and now they simply give it away.
Should they get any cash back then that will just keep the directors in wages for a little longer.

[simon8] 10/11/2017 12:03

Just seen the RNS and fell off my chair...after all the promise, expenditure, hype, the supposed billion barrels of oil there we give it up. I have been here since almost the beginning based on this block as the rest was always just noise.... deeply disappointed, what next BoD, do you have plan B...SE Asia promises?
How gutted will we be when Anadarko or other pick it up and drill finding lakes of the black stuff..............