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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Black Rock Oil | LSE:BLR | London | Ordinary Share | GB00B1YW2916 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.125 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
11/12/2008 10:03 | Good post Ivan. I was also surprised by the reaction to the news. Good post also CNF. Very helpful to have well thought out and informative posts on this thread from people who have better knowledge and understanding than me of BLR's situation. | dr jekyll | |
11/12/2008 09:43 | Nice post Ivan...It does amaze me that the management here don't walk away and find an easier life somewhere else...instead they work for free and even loan money to the Company to keep going...not to many doing that in these times. | granny7 | |
11/12/2008 08:18 | Please take these jibes with a pinch of salt, i like many others have ern't the the right many times over at posting what we think of BLR but i also hope they pickup & give us back something! | hhhold2 | |
11/12/2008 07:57 | well when they return something for the shareholders then perhaps they might get taken seriously instead of an excuse for every occasion , ,post edited to remove unhelpful comment taken the wrong way!, sorry if it offended anyone. | hhhold2 | |
11/12/2008 07:42 | I heard wether this is true or not i don't know but Jed Clampitt is joining the board. | fernygrade | |
11/12/2008 02:35 | Ivan, Fair do's chap. Agree about the muppets here pushing their failed investments across these boards, very pathetic. Agreed the managment do so far seem to be working hard in the interests of the company and its shareholders. I would like to see the terms of the equity placing in detail though. Hopefully it'll be set up in tranches and spread the effect rather than a one off lump. Time might be all that they need. GCA report is ongoing and the Prospero cash available to fund our share of costs should see us through initial stages of Arce re-development. You can bet your holding on the fact that PEG will know how to complete these wells with their heavy oil experience. If you want to get heavy oil out of the ground get the Canadian pros in. The Canadian oil industry was built on the back of hard to extract heavy oil, the Canadians are the masters in that field in terms of well design, project planning and technology. We may eventually start getting some stable and sustained production by the time the price of oil has recovered somewhat. PEG will get a steamer that works for a change. ;) How much of the steamer fiasco was Ivan's responsibility though? It seems odd that a non-operator would have obtained the equipment on behalf of the Operator at the time (Krappa). Its quite possible that someone now is on the verge of getting some really cheap shares. The market has marked down in anticipation of the dilution but it may just provide enough to see us through for a couple of wells and who knows what may happen after that. It seems that any deals for merger/take-over weren't in the best interests of the management or shareholders so this alternative has been decided upon as the best bet. If this refinancing and the Prospero cash puts us on a stronger footing not many will have room for complaint. I'm just hoping the dilution doesn't knock the hell out of the value in the mean time. Although the asset value is many times the market value so there is still room to maneuver for a good +ve return yet. Its certainly not over. Management have kept the company going so far on basically fumes, so if they can manage on a meager £2500 loan until the refinancing it shows the cost cutting must be doing the trick. ;) Todays announcement could have been much much worse. Some good points, some bad points hopefully more will be revealed soon. Captain Nelson Forties | captainnelsonforties | |
10/12/2008 22:12 | £2500. Crazy. Take what you can and quickly. I thought IVE was bad but this beats them all. | hardie1961 | |
10/12/2008 15:27 | Is that £2,500 from Cubitt the equity investment they're talking about? | audereestfacere | |
10/12/2008 14:32 | maxk do you think I would be wasting my money then? | futhark | |
10/12/2008 14:25 | "As announced at the Annual General Meeting held in April, the Board has implemented wide-ranging operational cost reductions to substantially reduce the additional working capital still required by the Company to finance its ongoing central costs for the remainder of this year. As part of these arrangements, the Directors are for the time being not receiving any remuneration." Must be the most dedicated work force any shareholders could dream of having to run their Company.....not only are they not being paid but are now paying the Company for the privilege of working for us!! | granny7 | |
10/12/2008 14:01 | will the lastone go turn out the lights! | whisler | |
10/12/2008 13:51 | Steady on Fut, if they get their hands on that much money they'll prolly do a runner.. | maxk | |
10/12/2008 13:30 | I have decided to give them my winter fuel payment to see them through 2009! | futhark | |
10/12/2008 12:42 | I reread the last sentence 3 times, then checked the source. A £2,500 loan..........ha! | sludgesurfer | |
10/12/2008 12:42 | Who would want to put money in, and at what price? | maxk | |
10/12/2008 10:39 | Black Rock ends merger talks Published 10.12.2008 11:08:18 by John BradburySouthern North Sea licence holder Black Rock Oil and Gas has ended talks with third parties over a possible merger but is talking to a potential investor. Black Rock holds a stake in the UK Southern North Sea Monterey gas field in block 48/9c which was originally discovered by Arco and which is now operated by Wintershall and it also holds other assets in Colombia and Australia. It was seeking a buyer for its interest in the Monterrey field which has been estimated to contain 239 Bcf of gas in place with 102 Bcf thought to be recoverable, according to operator estimates cited by Black Rock. Also nearby and to the east is the Stinson gas prospect estimated at 100 Bcf of gas in place, and the Winchester prospect, to the southwest, which is thought to contain 75 Bcf of recoverable reserves, and which lies mainly in open acreage, with 20% in block 49/8c. Back in August Black Rock indicated it was in talks about merger opportunities but said today that those have now ended, while discussions have continued about refinancing. "While there can be no assurance at this stage that these discussions will result in an acceptable re-financing of the company, the directors are in advanced discussions with a potential investor regarding the possibility of an equity subscription and hope to agree a satisfactory outcome such that the company has sufficient finance available for its ongoing requirements," Black Rock stated today. Accordingly it is now no longer in an offer period as defined by the City Code on Takeovers and Mergers. Also Black Rock has promised a further statement when it is able to obtain further financial support prior to an equity subscription offering. Meanwhile Dr John Cubitt, Black Rock's managing director, has made a £2,500 loan to the company. | granny7 | |
10/12/2008 10:38 | Morning all. Apart from the 2500.00 loan which does sound funny this announcement has a certain amount of encouragement in it for me at least. Obviously keeping costs to a min. if such a loan (2500) is needed. However, securing an investor would suggest someone believes there may be mileage in the old crock yet. | dr jekyll | |
10/12/2008 10:00 | Would you really bother to tell battered share holders,that you lent ur company 2.5k,if its down to beer money then fold it up! | bu5boy | |
10/12/2008 09:14 | My god, have they missed two zeros off that figure? | ju1cester | |
10/12/2008 08:54 | Bloody hell, the 'crock having to borrow the tea money off a director, is this the end? | maxk | |
10/12/2008 08:51 | just enough for the xmas party wonder if we pi's will get invite ha ha ha | teddybear5 | |
10/12/2008 07:52 | Well, well life in the old dog yet, eh Fut ? ;-) | jimarilo |
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