Black Rock Share Discussion Threads

[prudence broon] 15/12/2008 20:10

I have decided to nationalise the 'crock, because we need a few sound assets to support the £sterling.



Hail to the chef !

[ivanburgess] 15/12/2008 17:43

Hi.
Can't add any more to that. I certainly wouldn't even like to guess, and then add some volatility too, and we come up with ...... anything.

[jimarilo] 15/12/2008 17:10

Hi EB,

If you look at what Prospero paid for their 49% and add Monty, Stinson and Winchester you could say BLR is heavily discounted and dilution is already priced in

On the other hand the markets are shot and it would be foolish to quote a price ahead of any news

I don't think a price would be to far from here and what funds they will be after, will be small change imo, but enough to tick over through 09 as Prospero will cover capex costs

[englishbeakfast] 15/12/2008 15:19

Ivan, assuming your theory is correct, what do you think the shares could be worth in this economic climate. Thanks.

[typhoid mary] 15/12/2008 10:36

Dont worry about your shares Futark, they are quite safe, nobody wants them.

[futhark] 15/12/2008 08:13

Morning all,
Look after my shares I'm out for the morning.

[ivanburgess] 14/12/2008 22:24

Hi Jim. Long time, no speak.

"""The other point is the £2.5k loan in anyones pocket won't last five minutes, so a result either way will be sooner rather than later"""


Y'know, I totally agree with that Jim. I thought myself that the amount of the money required was so small that they don't expect to have to wait too long. How long will £2.5k last? A week or two at the most? And note the comments in the RNS which imply that they are expecting further funds to be made available by the directors ..... which says to me that they expect something to happen very soon, and as soon as its signed off, then more directors' money will be put in to last until the deal officially starts. Then the money from the new investor will cover ongoing costs thereafter.

So with that, and Prospero carrying all our costs on both Arce and Acacia, we can sit back and relax a bit until the production gets ramped up by PEGgy.

Hey, its good to have a PROSPEROus Uncle and a rich Aunt PEG, isn't it? And now we may have another new arrival in the family.

But it will be interesting, for if it is only a week or two away, then Christmas is in 10 days, and everything will then shut down for the holiday, ......... so stock up all you can in these next couple of days to be sure you don't miss the boat. It could very well all happen before Christmas, or even before you can blink.


Tricky ....... Better get back in quick.

[jimarilo] 14/12/2008 19:07

Nothing has happened to Prospero they are still 49% in

BLR still have enough cake to slice, they only need enough cash to cover opex for another year and hope to get lucky with the drill bit and harness some real production from existing wells

All big, if buts, and maybes

[maxk] 14/12/2008 19:03

LOL, another not for profit org.....



Fairholt Resource Investment plc Announces Earnings Results for the Six Months Ended March 31, 2008
06/5/2008

Fairholt Resource Investment Plc announced earnings results for the six months ended March 31, 2008. For the period, the company reported profit of GBP 3,486 against profit of GBP 721 for the same period a year ago.





What happenned to Prospero?

[jimarilo] 14/12/2008 17:51

Fairholt Resource Investment Plc Appoints John Malcolm Cubitt as Non-Executive Director 06/25/2008

Fairholt Resource Investments plc does not have significant operations. It intends to invest or acquire a company or assets in the natural resources sector, including oil and gas or exploration projects; and minerals, base metals, or precious metals properties. The company was incorporated in 2005 under the name Fairholt Media PLC and changed its name to Fairholt Resource Investments plc 2006. Fairholt Resource Investments is based in London, the United Kingdom.

Cheers Steel, you are a whizz on a pc ;-)

Hmmmm are Fairholt about to buy a slice of BLR ?

[steelwatch] 14/12/2008 17:12

Came across this in me travels:

[jimarilo] 14/12/2008 16:19

Good post Ivan,

I also thought the rns was a good indicator of where things are at, desperate as they might be and expected a rise in the sp

The main thing for me is that BLR won't be taken out this time around, which may disappoint the captin, but with the wind in the right direction gives us a better chance to see a higher return than a discounted one of bid

The other point is the £2.5k loan in anyones pocket won't last five minutes, so a result either way will be sooner rather than later

Fingers crossed yet again ;-)

[maxk] 12/12/2008 20:56

One post for today, cant let it go quietly into night...

[trickyboyfish] 11/12/2008 23:07

Well I'd be far better of financialy if I had never thrown money into stocks for the last 18 months but I would not even have a basic understading of what is going on in the world right now.

So Im glad I did and will not give up.

Just like BLR. Truly admirable company dogged by bad luck. Others might have packed in and walked away from investors a long time back. But not these guys (and Dawn of course).

Hmmm - Dawn Davies - The mysterious hot tottie of BLR ;)

[maxk] 11/12/2008 19:41

Maybe there a moral there Tricky, do f/all and win!

[bu5boy] 11/12/2008 19:22

Ivan B,
i apologise,if any of my snide comments have in anyway effected the share price of good old BLR.Your right the band should play on,so as were into the season of good will i hope that jc&pk can pull more than a rabbit out the hat.
Bestwishes2u all.

[trickyboyfish] 11/12/2008 18:58

o/t Maxk - It's looking like you might take 2nd place in the investopedia trading game - final results 24th Dec.

[englishbeakfast] 11/12/2008 14:29

Nice post Ivan. I take your point about snide comments on the BB. I do so wish that positive BB comments could have carried enough weight to propel the share price...but alas reality defies comments. I no longer hold BLR but would still, for the sake of all long termers, love to see an oily future for the company.

[futhark] 11/12/2008 10:41

Good morning all.
It's nice to see a more positive feel on this bb, I also have decided to stick with the black widow through thick & thin. (mind you the value of my shares in this Co it would cost me to sell them!) :~#(

[base97] 11/12/2008 10:35

Good morning the few,
Good reading fellas, it,s my intention to stick with these guys because, TBBH, I am not in the habit of selling shares at such a loss and don,t intend to start now. Alright, if it goes "pop" it,s a total loss but after all this time I want to see an end factor whatever that may be.
Can,t believe Prospero would have "come-in" purely for the hell of it, so we,ll see.
Good luck everyone(and that includes JC, PK & office staff.(Oh, by the by, t,is my view that the £2.5K was for wages of office etc!)

[ljsquash] 11/12/2008 10:33

Cheers steel.

[steelwatch] 11/12/2008 10:25

December 11, 2008

Desperate 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

[prudence broon] 11/12/2008 10:13

The 'crock is in a similar position to blighty, nearly bust.


But you cant blame the 'crocks situation on me!


So there!