Deo Petroleum Share Discussion Threads

[mr_dross] 28/5/2012 16:36

can i stand up straight now and pull my trouses up please

[fangorn2] 28/5/2012 16:35

Who wants over valued PMG paper.Not me.

A fleecing indeed.

[mr_dross] 28/5/2012 16:27

2 for 1 offer with pmg shares

thanks

[pyemckay] 28/5/2012 16:26

lol. shareholders have been fleeced here

[hugepants] 28/5/2012 13:07

There's a lot of oil here for only a £9M market cap but could they end up having the same problem with Spaniards as Perth ie. how to fund their share of the development.

[hugepants] 28/5/2012 09:01

I bought some of these last week. Id buy more but still not sure what a reasonable worst case scenario is. If they can't get funding for Perth, worst case can they write it off with no further liabilites? Would the Spaniards interest then at least cover the current market cap?

Ive bought into a basket of oil stocks after the recent falls. ie. AEY, SQZ, CHAR, DEO, PTR, UEN, DGO, NPE, EXI.

[the marlboro man] 27/5/2012 22:54

Cheers greyingsurfer.

[greyingsurfer] 27/5/2012 22:13

I don't know exactly what the situation is regarding timing, but Perth is still officially a fallow field. If DECC for any reason become convinced that the current operators are not able to progress it then they can (and I'd be pretty sure, will) lapse the licence. Clearly we are not at the stage, and hopefully we never will be, but the possibility exists

[the marlboro man] 27/5/2012 02:51

Cheers guys.

[rhubarbe] 26/5/2012 22:03

I don't believe that the license will lapse automatically once the FDP and ES have been submitted.

[greyingsurfer] 26/5/2012 22:00

I'm not aware of one. The deadline for FDP submission was Sept last year, which happened. It's now up to DECC to negotiate amendments and make a decision (6 months was quoted as typical)

[the marlboro man] 26/5/2012 19:28

What is the deadline date for Perth?

[greyingsurfer] 25/5/2012 14:17

Premier (the operator) have it down for Q3 in their IMS of last week. That's probably as definite as you'll get at this stage.

[tommygriff] 25/5/2012 14:10

Have we had confirmation that the spaniards will definately be drilled?

[greyingsurfer] 25/5/2012 09:49

Yes, but it has not yet been approved, and viablity also includes finance.

I remain hopeful that it will happen, I've got quite a lot of DEO shares, but we were talking about worst cases.

[rhubarbe] 24/5/2012 22:36

They have already submitted a FDP - last September, and an ES, in March.

[greyingsurfer] 24/5/2012 11:38

However, the worst case scenario is that Perth is worthless, and the licence has to be relinquished under the fallow field rules, if they are unable to produce a viable development plan. That leaves Spaniards, which is probably still worth more than the current price.

[the marlboro man] 24/5/2012 00:07

Not surprised by that Rhubarbe.

[rhubarbe] 23/5/2012 23:42

Did you read that Paul said two other oilies wanted the Perth asset when DEO got it?

[the marlboro man] 23/5/2012 22:47

I was thinking of the worst case scenario too if they fail to raise funds or get farm-out deal.

Free drill on Spaniards and the Perth asset. Worth a lot more than £8m. That's just loose change in the oil business.