Black Rock Share Discussion Threads

[futhark] 21/10/2008 08:47

Morning all.

[trickyboyfish] 20/10/2008 19:34

Cheers Captain

[ljsquash] 20/10/2008 16:02

148,000 @ full price and nothing yet?

[jimarilo] 20/10/2008 15:41

Not a bad shout SIA, DNX and IAE ;-)

[bu5boy] 20/10/2008 09:46

Morning to you all(thats left),a Question to anyone remotely in the know.
Since prospero has been on board with its experience of heavy oil,have they lifted an single extra barrel out of the ground to the benifit of dear old blr?
Surly with thier experience they they could suck afew more litres out of arce,and present better reason to be bought out.

[jimarilo] 20/10/2008 00:46

What about SIA, DNX and IAE CNF ? ;-)

[captainnelsonforties] 20/10/2008 00:30

Good evening mr Base,

We're in the same boat, pardon the pun ;) Agreed, I'm still looking for a bidder to emerge here within the next 2-3 months. Rubiales were looking to kick off a multi-million $ development of Arce before the end of 08. They already put forward the idea of buying out assets of weaker players in a press article, its not as if they don't have the cash. I unfortunately doubt that the long term holders will see much of their original investment back should a deal emerge. Those who enter now may get a very healthy return. I invested with a 200-300% target within 8 weeks, that has unfortunately turned into several months. BLR remains high risk, but still capable of a miraculous gain/recovery should the right deal emerge. On the first hint or sniff of a deal I would anticipate that the share price could double on the day.

TBF - I'm a speculator, short-term is king long/short. I do indeed look for companies that are trading well below their asset values or have high upside on future production. OIL, AEY/AEN, VPP all fit into this category. There is much value to be had on the AIM, TSX and ASX markets at present amongst the oil and gas stocks. When I entered BLR they were valued at approximately £800k, had £5m in assets and were in talks with several parties with a possible deal due for the end of August. My views were reinforced by the acquisition of Kappa by Pacific Rubiales and their open views regarding our shared licences. The Petrotech report supported the future economics of our proven reserves. With $2m funding in place with Prospero its just a working capital issue here at present. I'm still hopeful that something will be worked out to secure a deal on a company that is grossly undervalued at present. Plenty of risk, but plenty of upside.

Captain Nelson Forties

[trickyboyfish] 19/10/2008 21:09

LOL MAX - Whoops - errrrr

[maxk] 19/10/2008 20:58

You on the sauce already Tricky, no "had" feelings indeed....


I thought you was on the wagon..

[trickyboyfish] 19/10/2008 19:32

Captain - Are you British? And do you make a habit of picking companies that are trading well below their NAV?

Thanks if you can answer, no had feelings if you cant ;)

[base97] 19/10/2008 18:53

Captain,
Evening, Appreciate for your summary, needed to see something in print which would collate with my rather "L type" jottings! To be honest my abicus had arrived at a lower estimate but that was based on todays price and with not quite your precision.
Certainly is my intention to see this one out and hopefully, mid term at least, see a Holding which attracts interest. There are many still holding who deserve a return, whether it be sufficient, well ............?
Thanks & Good Luck Capt.

[captainnelsonforties] 19/10/2008 16:48

Base,

At last report BLR had an asset book value of £2.9m on their Colombian Assets and a Net Asset Value of approximately £5m (almost 10 times higher than our current value). Also see the Pacafic Rubiales www that puts a future value on Arce and Acacia at many many times our current market value. Its based on oil prices above $100/bbl, but it does still demonstrates the future potential value of Arce especially. Our proven Oil and Gas reserves are worth about £5m, I think that most investors would jump on an offer at even half of that, I know I would. A discounted offer is still possible at this stage. I hope GCA are progressing with that report and will deliver in the near term and clarify a few more present values to our assets including the new Acacia discovery.

Well if you're unsure if there is value to BLR, Pacific Rubiales paid $168m for Kappa who share mainly the same turf as BLR. Kappa had about 9mmbbls of reserves compared to our 1mmbbls approximate reserves from Arce and Acacia. CEO of PEG stated how exciting he thought the potential of Las Quinchas was so he sees long-term value there. So I wouldn't rule out a deal just yet.

Captain Nelson Forties.

[jimarilo] 19/10/2008 10:27

Morning all !

This might be one to add to your favorites as it promotes assets for sale and shows if under offer as and when that occurs

Monty listed for BLR but no offer as yet



Australian asset shown as sold, but we knew that already

[ivanburgess] 18/10/2008 16:19

lol. Morning Fut.

[futhark] 18/10/2008 11:24

So HRH The Queen has invested in BLR....She must have she is £57 million down on her investments.
She has nearly lost as much as me!

Morning all.

[futhark] 18/10/2008 11:18

Granny she's a Pain!

[ivanburgess] 17/10/2008 21:14

I totally agree with that last sentiment, Base, in that our "supposed" Broker hasn't done a lot to earn his fat fees, but do they ever???

It would be nice if they at least tried ...... or am I in dreamland?

In a way, it would be nice to stroll down Canary Wharf and watch them all throw themselves out of the windows, but alas, our Mr Brownhole makes sure they are all nice and snug with that half a Trillion he threw at them the other day, ..... and what happened? .... the market went even lower when they took all their profits the very day after. (our money?)

Add Nomads, Brokers, and Estate Agents together, and we might have a nice little pile to put on the bonfire. Its Guy Fawkes night soon. (I think he actually had the right idea)

[base97] 17/10/2008 16:45

Hello the few,
The few times that I,ve seen BLR mentioned(very few), it appears that we are waiting for year end "to die a death" unless someone has reached out to take the BLR begging hand and buys our few assets/Company!
From what we haven,t heard lately, those assets don,t amount to much so I wonder if one/or more of our erstwhile "oilies" might do a favour and "update"(if this is the right word)us on anything which might realistically be viewed as a "value asset" at this stage.
This might, at least, allow us to form some sort of picture sadly not presented, even at this late stage, by the BLR Broker et al who are presumably still in receipt of fees.
Thanks.

[nala2] 17/10/2008 16:34

Only the Ace of Hearts can save me now! Arf!
Hope next week is a better week for you all!

[maxk] 17/10/2008 12:16

It's ok Ivan, Broon will sort it all out....