Black Rock Share Discussion Threads

[maxk] 14/9/2008 09:58

Best wishes and congratulations Tricky and Mrs Tricky.

[ivanburgess] 14/9/2008 00:12

Congrats, Trickey. Good wishes, health and happiness to all.

[trickyboyfish] 13/9/2008 22:48

News Update - For those that remember the Spudding of Mrs TBF RNS

Olivia Grace was born this afternoon at 13:28 :)

[maxk] 13/9/2008 16:33

If I were head of Pacific, I would wait and pick up the the 'crock for peanuts from the reciever.

Not nice, but sound business sense.

In fact, thats what I thought Krappa were up to, cheap entry to the London exchange.

[hybrid07] 13/9/2008 12:11

If I were the head of Pacific, I would wait to see if the price of oil tumbles further before fixing a value for BLR

[hybrid07] 12/9/2008 22:43

Pacific Rubiales (TSX: PEG) is focused on identifying opportunities primarily within the eastern Llanos Basin of Colombia as well as in other areas in Colombia and northern Peru. Pacific Rubiales has a current net production of approximately 21,000 barrels of oil equivalent per day.



Also article about oil prices

[trickyboyfish] 12/9/2008 22:22

cant let a day go without a post on this BB.

Good Morning All. ;)

[maxk] 12/9/2008 19:43

Shall we call in the undertakers?

[maxk] 12/9/2008 11:44

RNS Number : 3239D
Hargreave Hale Ltd
12 September 2008


Purchase/sale Number of securities Price per unit (Note 5)

SALE 300,000 3p

[maxk] 11/9/2008 10:19

Tricky.

Have been on the look out for something nasty heading my way, but the only thing so far is a very large broonhole coming out of downing street.

hybrid, captain. Yes, do hold but only a few from way up, so will hang on and hope, at todays price it would be a nonsense to sell.

[ljsquash] 11/9/2008 10:10

Morning all!

[captainnelsonforties] 11/9/2008 09:47

Hybrid,

Definitely both sides will be looking to see the content of the GCA report. Not sure how much of this report BLR will make public. Any significant increases in 2P or potential reserves would be classed as price sensitive and therefore would have to be released. Apart from that they may use it as a prospectus for potential buyers.

Maxk is holding, he sees value here too or else he would be long gone.

For long-term holders there is the possibility to average down like you did if they are aware of the risk reward ratio. £3m would be a bare bones discounted figure for BLR to be taken over for. £5m is a more realisitic target for some value to be returned to the long-term investors here, and a potentially higher figure if a company like Pacific Rubiales decides they want our 25.5% of Las Quinchas. I guess a good few are in the wait and see camp as there isn't that much averaging down going on with the volume of buys still relatively low. I'm here for a target minimum 200-300% gain, time will tell if that can be achieved. There's not long left as management seem reasonably confident that they can work something out within 2-3 months, no guarantees in this game though.

Captain Nelson Forties

[hybrid07] 10/9/2008 22:26

Capn

That makes complete sense. Both sides would want to see the report before they make a deal, so I guess both are doing their best to hurry up the release of the report.

Will we know when the report has come out? I guess the report belongs to BLR so they will want to make it public at some point.

Max, are you holding? You can always sell if you think there's sod all. Seems to me that logic says hold - or buy a small holding if you don't have one. Small because it's risky. Looks like a 2 or 3-bagger to me. but could be a zero-bagger

I'm a long-term holder, but my original investment is now worth £34. I've multiplied that by more than 100 a couple of months ago by averaging down.

Tricky LOL

[trickyboyfish] 10/9/2008 21:43

max - Is there anything black and hole like out of your window? Thanks in advance

[maxk] 10/9/2008 20:25

SW sold out Kiptin, he voted with his feet!


And he must have been privy to the ongoing shanagans.


i appreciate you are trying to make the best out of sod all, but for us punters, thats all there is ....sod all!

[captainnelsonforties] 10/9/2008 19:44

Hybrid,

I would imagine that since the directors have enough cash to keep going for a few more months that they are awaiting the completion of the GCA report. That could throw a different value upon us. They're probably wanting to get the most out of BLR now to get some value returned to share holders. Darron/S Walker commented on how management are trying their best for share holders. Given the recent comments from the CEO of Rubiales hinting at financially weak partners to sell to them, its quite possible that BLR could be working on a number of avenues. A good turn around would reflect on the management when they look for future positions post-BLR. At the end of the day, even though their share holdings aren't that significant they'll still want as much for their shares as they can manage. Postponing any deal from the end of August unil year end could see developments and a potentially better deal.

From the corporate update:

'Careful use of the Company's working capital resources has enabled the Board to hold positive discussions with a number of parties without working capital constraints that might limit the Board's position to maximise value for the shareholders. While there can be no assurance at this stage that these discussions will result in any acceptable proposals for additional financing or offer for the Company or its assets, the Directors hope to conclude a satisfactory outcome within 2 to 3 months such that the Company has sufficient finance available for its ongoing central costs beyond the end of 2008.'

Seems talks are ongoing to provide a potentially acceptable offers. I find that Pacific Rubiales offer to buy out weaker partners much more acceptable than the alternative. They are buying us some time and hopefully will agree a suitable deal that returns money to some of the long-term holders and a decent return for us more recent investors.

Captain Nelson Forties

[hybrid07] 10/9/2008 17:25

Fut, I appreciate that Krapper caused delays in the field, but I mean the delay in announcing a deal with a partner. Managment's original target of end of August has come and gone and we didn't hear anything. Now we hear something will happen by the end of the year

I just wonder what's going on that takes so long

[hybrid07] 10/9/2008 12:08

Could this be what is happening? Pacific has offered BLR a rather low price, and BLR is using the only weapon that it has - delay. Presumably Pacific wants to get on with the work and with its planning too

[jimarilo] 10/9/2008 12:05

Is that a trick question ?

No I love my shares falling off the side of a cliff ;-)

[andrescerri2] 10/9/2008 10:55

Jimarilo -

don't you think that BLR have fallen enough already?!!

[ljsquash] 10/9/2008 09:28

Morning all!

[futhark] 10/9/2008 08:15

Morning Jim, all.

[jimarilo] 10/9/2008 07:52

The whole sector got trounced yesterday and probably today as well after a bad night across the pond, accept for BLR who may have another blue day ahead !

Madder that a box of frogs these markets ;-)