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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Black Rock Oil | BLR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
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|---|---|---|---|---|
| 0.00 | 0.00% | 1.125 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.125 | 1.125 |
| Top Posts |
|---|
Posted at 06/2/2009 13:40 by ceohunter Investors in Black Rock may be interested in seeing Victoria Oil & Gas:The directors of Gulf Keystone Petroleum (AIM: GKP), Gold Resource Corp (OTCBB: OTC:GORO) and Victoria Oil & Gas (AIM: VOG) will be presenting: Thursday the 12th February 2009 Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB The presentations will start at 6:00pm and finish at 7:30pm. After the presentations are complete the directors will also be available to take questions during a free canape and wine reception. Victoria Oil & Gas (AIM:VOG) Victoria is an independent oil and gas exploration and production company with particular emphasis on projects within Africa and the FSU. The company's principal assets are 60% of the Logbaba gas and condensate project in Cameroon and 100% of the West Medvezhye gas field in Siberia, Russia. Logbaba is located in Douala, the economic capital of Cameroon. The field was discovered in the 1950s with all four exploration wells, flowing gas at rates up to 62Mmcf/d. West Medvezhye is situated in the Yamal-Nenetsk region of Siberia. An independent reserve audit estimated prospective resources for West Med of over 1.1 BnBOE. |
Posted at 16/1/2009 23:23 by steelwatch ====================wow400 - 16 Jan'09 - 17:46 - 2765 of 2772 found this on the IVE thread!!!! A poster on money-am in this weeks "investors chronical" under title of "takeovers in depth" -irvine energy. black rock oil and ukrainan operaters were named as most likely immediate targets in fresh consolidation schedual to hit upstream oil or gas gas sector-says industry source!!! ==================== Jimarilo - 16 Jan'09 - 18:49 - 2766 of 2772 Looked up investors chronical and couldn't find a link to the above, however I think they are a bit behind the times, as Cetus has already been there and bought the Tshirt ;-) ==================== steelwatch - 16 Jan'09 - 19:02 - 2767 of 2772 edit Jim - haven't read the article, but NTOG looks likely as the third candidate: ==================== (Nostra Terra Oil & Gas - please note, this is not a recommendation unless you want to re-live the BLR experience :- ) |
Posted at 16/1/2009 18:49 by jimarilo Looked up investors chronical and couldn't find a link to the above, however I think they are a bit behind the times, as Cetus has already been there and bought the Tshirt ;-) |
Posted at 16/1/2009 17:46 by wow400 found this on the IVE thread!!!!A poster on money-am in this weeks "investors chronical" under title of "takeovers in depth" -irvine energy. black rock oil and ukrainan operaters were named as most likely immediate targets in fresh consolidation schedual to hit upstream oil or gas gas sector-says industry source!!! |
Posted at 09/1/2009 12:39 by base97 Fut, For my sins and daft sod that I am, on Dec 23 bought a few more just because it felt right!! Now I don,t pretend to be an expert at this game and neither do I have any inside information but somehow and bearing in mind the bits of news since, it still feels right.I think that, truth be known, investors that have been in BLR for as long as we have are looking at some very heavy losses(potentially) but I have to keep telling(kidding) myself that until I sell(lose) my holding then I haven,t lost/gained a cent! Anyway, for what it,s worth, that,s my "reverse-psychology" |
Posted at 23/12/2008 10:35 by dr jekyll Glad to see they are keeping Peter Kitson on board (pun intended) as he has done a very good job imho. Also, the new directors, on paper at least, look to be competent and experienced. All systems go for a better future for the new company and therefore for us long suffering and generally good humoured investors. Merry Christmas to all. |
Posted at 11/12/2008 10:25 by steelwatch December 11, 2008Desperate Times, Desperate Measures For Aussie Junior Black Rock Oil & Gas AIM-listed Black Rock Oil & Gas plc had some good news and some bad news to report yesterday. The good news was that talks with potential investors are proceeding well and that a solitary candidate has now emerged. The two sides are now in advanced talks with a view to an equity subscription. The bad news was the seemingly perilous condition of the company's finances with managing director John Cubitt extending a £2,500 unsecured loan to the group, buying a bit of extra time in order to complete negotiations on other very pressing matters. These are difficult times for most of the small E&P sector, especially for those that have yet to generate any real production and cash returns. Black Rock Oil & Gas fits into this category though it does have a promising portfolio of exploration assets and some diversity across the UK, Colombia and Australia. Cost containment has been an issue for much of the year although the company has previously stated that it has enough working capital to see it through 2008. In recent months it has been busy slimming down its asset base, selling its Western Australian R3 retention lease in June to raise much needed capital. Farm-in partners have been sought elsewhere including for the Southern North Sea P1147 licence in which the group holds a 15 per cent interest in Block 49/8c, which contains the Monterrey tight gas field. With other companies being careful with their cash this is not an easy time in which to do business however. In a statement yesterday Black Rock said management are now in "advanced discussions" with a potential investor for an equity subscription. It added that it hoped to achieve an outcome such that would provide "sufficient finance available for its ongoing requirements" and that it hoped to "conclude matters within a short time frame". Talks with other interested parties have been terminated, the company said, while attempts are made to thrash out a deal. The loan from Cubitt, meanwhile, described as "short-term", is due to be repaid "as and when the company secures new third party finance" the Black Rock statement read. These are tough times out there for all but for Black Rock in particular it is now a race against time. While the company has sufficient funds in place for this year, it must finalise a deal in the next couple of weeks with its potential investment partner if it is to be able to progress its plans through 2009. Things started brightly enough at the beginning of 2008 with the drilling of the Arrinconada and Acacia Este 2 wells in Colombia, though neither proved decisive. Black Rock is by no means alone in scouring the market for additional funding. In recent weeks and months a stream of small E&P firms have come looking for money in the face of tough conditions and a deteriorating general economic backdrop. With financial institutions under pressure themselves, however, borrowing is now a tough task. During the past few months, attempts to steady the ship have seen Barclays adjust its shareholding position, with the bank now holding roughly 10 per cent of the company. Tapping shareholders for extra cash, alongside asset sales, has become a key way of raising fresh capital. Some have found out that even this is by no means easy. For Black Rock supporters there will surely be hopes of an early Christmas present this year. Good luck and a Merry Christmas and a Happier and more prosperous New Year to all the long termers. regards steel |
Posted at 30/7/2008 11:49 by ljsquash May explain some of the recent happenings - copied from another boardInteresting article in todays Tgraph: Making sense of dramatic movements in volatile stock markets By James Clunie Last Updated: 6:24am BST 30/07/2008 Why is it that the prices of some UK shares move 10pc or more on days on which no company specific news is released? If, like me, you've been watching the stock market recently, this question has probably crossed your mind more than once. Our collective understanding of how shares should get priced in a "perfect" world struggles to explain such moves. Fortunately, help is at hand. In recent years, stock market researchers have identified a series of activities that can move share prices temporarily and dramatically away from fair value, possibly explaining some of the violent moves we have seen recently. Two of the more interesting phenomena are known as "predatory trading" and "crowded exits". Consider, first, "predatory trading" - a practice explained in lurid, theoretical detail in some recent academic papers. A "predator" learns about the trading position of some other market participant and begins to trade against him. If the predator is strong enough, he can move the market price of the stock away from fair value. This imposes losses on the other party, and as the losses build, the victim struggles to hold on to his stock position. Eventually, the victim capitulates and closes out his position at a loss, and at around the same time, the predator closes out his own position at a profit. The share price eventually recovers to its fair value. Who might fall victim to predatory trading? Victims could include anyone with a position that they might be unable to maintain as losses mount. This could include an investor in financial distress, a hedge fund unable to meet a margin call, or an open-ended fund having to sell shares to meet client redemptions. A more topical example is an underwriter left with an unhedged stock position after a rights issue. Other traders would quickly surmise that the underwriter held unwanted stock. If the share price were driven lower, the underwriter's losses would mount. For risk control reasons, the underwriter might be unable to hold on to the losing position and might sell low. Predators would cover their own positions by buying cheap stock from the distressed seller. Now, I do not know for sure that predatory trading was taking place in some UK bank shares recently, but the pattern of share prices and trading volumes that we saw in HBOS shares last week certainly matches the theoretical model. Another phenomenon that could explain some of the recent, violent share price moves is the concept of "crowded exits". We know that the hedge fund industry has grown rapidly in recent years, and that there has been a noticeable increase in short-selling, the practice that involves selling shares that are not owned and buying them back at some later date, hopefully at an advantageous price. Now, there is plenty of evidence that heavily shorted stocks perform, on average, badly and this suggests a simple trading strategy for short-sellers: namely, to identify heavily shorted stocks and build further short positions in those stocks. However, such acts of "imitation" change the market dynamics and can lead to unexpected consequences. In this case, imitation can lead short positions to become large relative to the number of shares that are normally traded each day in stock...the short position is then said to become "crowded". If a catalyst of some sort were to prompt short-sellers to change their minds rapidly and simultaneously, we would have short-sellers rushing to buy, but no new rush of people seeking to sell. This is known as a crowded exit. The idea is akin to the audience in a crowded theatre rushing to a narrow exit door once the fire alarm sounds?...?only so many can leave the building in any given interval of time. The effect would be temporary upward pressure on the share price. A variety of catalysts for a crowded exit are possible: a broker could change a recommendation on a stock, an investor could place a large buy order, or a rumour could cause a rapid change in sentiment. Recent patterns of share price moves and short-seller activity in companies as diverse as Punch Taverns, Bellway and Trinity Mirror have been consistent with the notion of a crowded exit. In fact, the shares of these three companies rose by an average of 43pc in just four days last week. A study into crowded exits* using UK stock lending data from Index Explorers shows that crowded exits are associated with significant losses for short-sellers who are unable to cover their positions rapidly. Traditional, long-only investors would generally be unable to exploit this finding by buying into crowded exits, as by definition these are illiquid positions. If short-sellers continue to grow in importance on the London Stock Exchange, it is likely that we will experience many more crowded exits. For an active stock market trader, it is vital to be aware of the risk of crowded exits, and to avoid at all costs the risk of becoming a victim of predatory trading. At the same time, astute traders who feel that they understand the reasons for extreme volatility can trade to benefit from temporary mis-pricings. If they are right and the share prices are eventually restored to fair value, they can earn excess profits. For the rest of us, and in particular for long-term, fundamental investors, the advice is much simpler. Crowded exits and predatory trading are technical events that have nothing to do with the fundamentals of a company. Fundamental investors should simply ignore the extreme volatility and stick to estimating companies' cash flows. James Clunie is Investment Trustee at The CBF Church of England Funds *Caveat Venditor - Crowded Exits! University of Edinburgh Centre for Financial Markets Research Working Paper. Clunie, Moles and Gao, 2008. |
Posted at 12/6/2008 19:16 by tingtang Nice to look in on you guys again and find the good humour still prevailing.You are quite right Ivan, it would not be ethical for SW to post here whilst at the same time offloading their large holding, and it is probable whilst not certain that Aventus are the sellers. Actually he was quite hopeful for a while when they got rid of you Ivan (wonder why that was?) and prepared to give the new regime a chance. As you say there comes a time when tough decisions have to be made, and I am sure SW did not make his decision to pull out lightly. He knows full well how such action can hurt a small co like blr but of course his first loyalty must be to his own investors and it is better to recover something than waiting for their entire investment to waste away. I would say tho' that on the whole Aventus investors must have done pretty well amongst their peer group because, I would venture, that SW has explored avenues where no other investment group would care to go, and, venturing mainly in the resources and commodities markets looking for smallcap co's who have no coverage or paid for researchers, he has come up trumps. For every Blackrock and Falcon there are many successes which I know of plus probably many which I don't. Anyway whoever it is unloading is managing the job very well because buyers are taking up the slack. If some of you really do think that the price is going to collapse when the seller is finished then you really ough't to be following their example whilst the going is good. For anyone with a meaningful holding then there is a hell of a difference between getting 5p than say 3.5 or 4p. I'm sure you guys have other stuff in the o&g sector which is performing to, or above, expectations and that allows you to remain so cheerful here. I was looking earlier at some watch lists I drew up some 4/5 years ago when I first commenced investing. By golly I am so glad that I decided to restrict my activity to o&g because those smallcap and microcap companies I was looking at are so bombed out there must be some real despair out there amongst investors who probably have a raft of stuff in the banking, financial and property sectors too. It may not make you feel better to think there are others in the same boat, it should make you feel better to know that you have a secret weapon, you still have Ivan, keeping a watch here, from a distance, and waiting in the wings! All the best, tt. |
Posted at 27/2/2008 08:39 by trickyboyfish Black Rock Oil & Gas PLC - Black Rock Oil - Las Quinchas FinancingRNS Number:8321O Black Rock Oil & Gas PLC 27 February 2008 For immediate release 27 February 2008 Black Rock Oil & Gas PLC ('Black Rock' or the 'Company') Financing of Las Quinchas Association Contract Further to the announcement on 20 February 2008, the Board of Black Rock Oil (stock code: BLR), the AIM-traded oil and gas exploration and production company, is pleased to announce that the Company has agreed the terms of an arrangement to develop further the Company's interests in the Las Quinchas Association Contract. Prospero Hydrocarbons Inc ('Prospero'), a private Canadian based oil exploration and development company, has agreed to invest up to US$4,000,000 (in tranches matching the cash calls required in respect of Las Quinchas) for an equity interest of 49 per cent. in Las Quinchas Resource Corp which now holds the Company's interests in the Las Quinchas Association Contract in the Middle Magdalena Valley of Colombia. Additionally, Prospero's management will assist in technical evaluations and a nominee of Prospero will join the Board of the Company. Dr John Cubitt, Managing Director of Black Rock Oil & Gas plc, commented: 'We are delighted to have concluded this increased participation with Prospero and look forward to working with them on our Colombian assets.' Transaction Summary Black Rock has assigned its interest in the Las Quinchas Association Contract to a wholly-owned Barbados-based subsidiary, Las Quinchas Resource Corp ('Las Quinchas Resource') which has entered into a subscription agreement with Prospero. Initially Prospero has subscribed for 425,298 shares of common stock in Las Quinchas Resource, representing 0.83 per cent. of the issued share capital of Las Quinchas Resource for a cash consideration of US$347,182. Prospero has agreed to invest a further US$3,652,818 for shares representing up to 49 per cent. of Las Quinchas Resource as and when Las Quinchas Resource requires funding for the continued development of Las Quinchas, including Acacia Este. In consideration for each payment by Prospero, Las Quinchas Resource will issue Prospero further shares of common stock in Las Quinchas Resource. Black Rock has provided a number of representations and warranties pursuant to the Las Quinchas Agreement. Black Rock and Prospero have also entered into an investors' agreement in respect of Las Quinchas Resource (the 'Las Quinchas Investors Agreement'). Pursuant to the Las Quinchas Investors Agreement, each of Black Rock and Prospero can appoint one director to the Board of Las Quinchas Resource. The Las Quinchas Investors Agreement contains certain drag and tag rights, and grants Black Rock and Prospero a right of first refusal over each other's shareholding in Las Quinchas Resource in the event that any party which owns more than 50 per cent. of Las Quinchas Resource subsequently seeks to sell, transfer, assign or otherwise dispose of its shareholding in Las Quinchas Resource. Following full subscription by Prospero under the Financing (and the financing in respect of the Alhucema E&P Contract announced on 20 February 2008), Black Rock will retain a 51 per cent. shareholding in Las Quinchas Resource and will continue to consolidate its Colombian interests in its consolidated accounts. As at 30 June 2007, Black Rock's Colombian interests had a net book value of £2,990,150 and made a loss before taxation of £327,200. Qualified Person Dr John Cubitt (a Director of the Company) has been involved in the oil and gas production industry for more than 26 years. Dr John Cubitt is a registered Chartered Geologist (CGeol) and has a BSc and PhD in geology. He has compiled, read and approved the technical disclosure as it relates to Black Rock in this regulatory announcement. |
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