Fair Oaks Income Share Discussion Threads

[pro_better] 07/12/2010 14:23

FD

check out ORM !

sp target 50p !

[jonny flame] 07/12/2010 09:19

OT - Worth researching VML

326,923,658 shares in issue, @ 2.75p equates to a market cap of 9m GBP

Recently raised cash;



Has producing Gold/Silver assets in Mexico, which are ramping up production;



VANE Minerals Begins To Acquire Some Critical Mass, With Gold Production Set To Double


It's also due to commence drilling some copper assets in the US;
VANE Minerals Sorts Out Its Cash Flow: Next Stop, Elephant-Sized Copper Porphyry Targets

[cyberbub] 02/12/2010 21:01

SNRP doing well today

[bert31] 30/11/2010 23:02

hi guys,

not a natural resource but-

Take a look at VMP - share price now circa 1p
Out of the 150 million shares, only 65 million are in free float. Once news of contracts is released, there could be quite a battle for the few shares available to the public.
They've got a very competent board of directors who is overly qualified in what they do- Business Restructuring, Takeover of UK PLCs & Review Services.
More info on their website:

Over on the VMP board posters are very bullish and compare this with another similar move years ago where a company with big names on board moved from something like 9p to £1 or £2 within days. See link:

I think the potential of 5p short term is very real- (subject to news of course) purely based on the calibre of the boys on board, as well as the small amount of shares in free float. Only my opinion so please dyor.

B

[cyberbub] 30/11/2010 07:54

BHR, Mozambican coal miner, production underway, to ramp up massively in next year or two, offtake for 100% of output, low costs etc. Also have large magnesite deposits in Tasmania, due to start drilling programme shortly to increase resources. JV partnership values coal side alone at $200M (20p per share approx with BHR owning 68%) and the magnesite is thrown in for free (could be worth 20-30p per share on its own in due course). DYOR

[cyberbub] 29/11/2010 20:34

Check out CAD, classic big-seller overhang play, significantly undervalued based on reserves, critical legal action settled (RNS due this week), good new management, due to restart production in coming weeks, large predators sniffing around. More to the point, market cap is almost totally covered by cash at hand and receivables!

NAI

[pro_better] 29/11/2010 16:25

take a look at WTI...very undervalued!!! rerating started...30p is on the cards....

[manchester2009] 29/11/2010 11:51

guys buying on CHC on plus.

29/11/2010 10:03:55 0.36 546,300 O 1,977.61
29/11/2010 09:51:22 0.36 276,243 O 1,000.00
29/11/2010 09:28:05 0.36 500,000 O 1,810.00
29/11/2010 08:50:59 0.36 65,983 O 238.86
29/11/2010 08:49:08 0.36 100,000 O 362.00
29/11/2010 08:09:53 0.36 54,569 O 199.18
29/11/2010 08:09:25 0.36 2,195 O 8.01
29/11/2010 08:08:08 0.32 75,000 O 236.25
26/11/2010 16:03:01 0.36 597,027 O 2,179.15
26/11/2010 15:44:00 0.36 120,000 O 438.00
26/11/2010 15:40:57 0.32 174,291 O 549.02
26/11/2010 15:39:15 0.36 268,534 O 980.15
26/11/2010 15:36:02 0.36 150,000 O 547.50
26/11/2010 15:34:01 0.36 500,000 O 1,825.00
26/11/2010 15:08:15 0.36 405,506 O 1,480.10


a gem indeed and next week will see a transformation here and a new load of investors.nai

26th November 2010 "AIM-listed oil and gas firm Range Resources (RRL) entered the buys in fifth and the sells in fourth, after reporting promising initial results from a survey of its licences in Georgia. Oil consultancy RPS Energy estimates that the area covered by the licences contains over 2 billion barrels of oil, half of which is attributable to Range under its joint venture with Strait Oil & Gas.



Damian Conboy
Non-Executive Director
Damian has a successful background in business development, promotion and investor relations across a range of industries including resources, energy and finance. Damian is currently a director of UK based Exchange Minerals (UK) Limited a diversified mining and resources advisory and investment group. Damian has a Bachelor of Commerce from the University of Western Australia.


Damian Antony Conboy has been Managing Director of Charles Street Capital Plc since October 2010 and served as its Business Development Manager since 2010 Mr. Conboy serves as Managing Director of AIM listed Alecto Energy Plc. Mr. Conboy serves as a Corporate Adviser to ASX listed Greenland Minerals & Energy Limited and to PLUS listed Gold Mining Company. Mr. Conboy served as the Managing Director of Exchange Minerals Limited. Mr. Conboy began his career at Potter Warburg stockbrokers in Perth, Western Australia. Following a move to the UK in 1999, he was involved in several business ventures, finance and other business development roles. He has been an Executive director of Alecto Energy plc since August 19, 2009. Mr. Conboy serves as a Director of Exchange Minerals Limited. He serves as a Director of Strait Oil & Gas (UK) Limited. He served as a Director of My Body Talks Limited, Octagonal Limited and First Avenue International Limited. Mr. Conboy holds a Bachelor of Commerce from the University of Western Australia.

[kiwimonk] 25/11/2010 14:46

Take a Look at ALO.

Has Multiple Gold/Copper Concessions 3-4 and 2 Uranium Licences.

Groundwork has been done by SRK consultants and O'Connor.

Resources identified - Targets Identified. After VTEM, Drilling Begins.

No other stock for under £4m has two Highly prospective Gold Areas that should jorc healthy numbers of 500k min, with Uranium being very much the 2011 Commodity - two licences there to drill up, all for £3.4m.

Check it out.

KM

[monkey puzzle] 22/11/2010 09:52

Fairdeal2008,

One of your old favourites is showing signs of life again today.....

[vivgav] 21/11/2010 19:15

Certainly worth DYOR into BIP imo.

[vivgav] 21/11/2010 19:14

FD

This is a good post from the BIP bb

tim000 - 21 Nov'10 - 13:49 - 544 of 551

One final comment. Since the w/c facility was agreed, the rise in the price of CPO means that the facility is only sufficient to purchase about 9 days' feedstock of CPO. So unless offtakers are prepared to pay upfront, or the company uses invoice discounting etc, the lack of working capital will slow the build up of production towards full capacity (16500 tonnes per month). Put another way, the company is building an operation that will have annual turnover of about £130 million, and yet currently has a mkt cap of £8 mn!

[1nv35tor] 21/11/2010 19:08

snrp 150mill tons of coal 3% of area drilled so far. and only valued at 16p which is worth researching as a really quick summary. they also have funding until like august next year

[knowhope] 21/11/2010 18:47

I like the silver play its going explode in 2011 so dxr interesting

[flyingswan] 21/11/2010 17:33

Gold Mines of Algeria (GMA)





Quote from above article follows:

"The industry is presently trading at $509 per ounce of proven and probable reserves, and nearly $8,000 per ounce of annual production. That's not terribly impressive by historical standards, and it equates to stock prices trading at a steep discount to their Implied Reserve Valuations (IRV); currently around 68% of the total IRV per share".
___________________________________________________________________________

Well, if GMA were priced at near term future annual production of say 36.7k oz (12 x 3,059 oz - the latest monthly production figure) gold based on that article's figure of $8,000. Then 36,700 x $8,000 / 1.6 exch rate = £183.5 million.

Now, that's of course 52% of £183.5 mil / 558.4 mil shares or 17p a share.

If we take the fully diluted capital position however that becomes
52% of £183.5 mil / 725.2 shares or 13.2p a share.

Close enough to SideShow's 14p prediction for me.

Posted by LR2

[flyingswan] 21/11/2010 17:29

Gold Mines of Algeria (GMA)





Quote from above article follows:

"The industry is presently trading at $509 per ounce of proven and probable reserves, and nearly $8,000 per ounce of annual production. That's not terribly impressive by historical standards, and it equates to stock prices trading at a steep discount to their Implied Reserve Valuations (IRV); currently around 68% of the total IRV per share".
___________________________________________________________________________

Well, if GMA were priced at near term future annual production of say 36.7k oz (12 x 3,059 oz - the latest monthly production figure) gold based on that article's figure of $8,000. Then 36,700 x $8,000 / 1.6 exch rate = £183.5 million.

Now, that's of course 52% of £183.5 mil / 558.4 mil shares or 17p a share.

If we take the fully diluted capital position however that becomes
52% of £183.5 mil / 725.2 shares or 13.2p a share.

Close enough to SideShow's 14p prediction for me.

Posted by LR2

[fairdeal2008] 21/11/2010 15:52

Thread closed

[envirovision] 21/11/2010 13:17

Further to my post number 81, I assume everyone followed Fridays developments at Ascot Mining regarding Red Rock Resources stake and the t1ps gold fund buying warrants and loan notes?

If not see the ASMP thread.

[averagejoe2] 21/11/2010 08:15

RGM/RRR
That Was The Week That Was ... In Australia
Minesite (registration) - ‎14 hours ago‎
The other companies that caught the eyes of market watchers, mainly because they swam against the tide, included Jupiter Mines (JMS), the latest plaything .
The other companies that caught the eyes of market watchers, mainly because they swam against the tide, included Jupiter Mines (JMS), the latest plaything of former BHP Billiton boss, Brian Gilbertson, and the slowly re-awakening (not that anyone knows why, yet) Bougainville Copper (BOC). Interest in Jupiter pushed the shares up by A8 cents to a 12 month high of A46 cents. That is a price which capitalises Jupiter at an impressive A$616 million, based entirely on the planned start of construction work on the big Tshipi manganese project in South Africa. The interest in Bougainville is as a pure exploration play around the mothballed copper mine of the same name that was once worked by Rio Tinto, until operations were halted by a small war. Last week Bougainville added A30.5 cents to close at A$1.70, just short of the 12 month high of A$1.74 reached on Friday. Officially, Rio Tinto says nothing is happening at the old mine, but if that's the case Bougainville Copper's market capitalisation means there is A$681 million worth of nothing going on, which is an awful lot of nothing

[mingle3] 19/11/2010 10:02

If you were to value Sefton on 5x earnings it would look like this.....

$2.7mill over 9 months
$0.3 a month x12= $3.6mill x 5years= $18mill
$18mill less debt $6.9mill= $11.1 or £6.9mill

£6.9Mill.......current M/cap £2mill
__________________________________________________

Valued on proven reserves

3.56Mill x $8= $28.48mill less $6.9 debt is $21.58mill or £13.42mill

£13.42mill..........current M/cap £2mill

Very undervalued imo

[mingle3] 19/11/2010 09:26

Sefton Resources, Inc.

("Sefton" or the "Company")



Sefton Provides Operations Update and Reports Nine-Month Period Financial Results



19 November 2010



Sefton Resources, Inc. (AIM: SER), an independent exploitation and production company with assets in the East Ventura Basin of California and the Forest City Basin of eastern Kansas, today provides a nine-month period operations and financial results update.



Nine-month 2010 Period Financial Results (in US$)

The Company reported oil and gas sales for the nine-month period ended September 30, 2010 of $2.7 million, as compared to $2.1 million in the nine-month period in 2009, an increase of 33%. The Company reported net income for the first nine months of 2010 of $338,000, or $0.00 per share, compared with a net loss of $317,000, or $0.00 per share, for the same period in 2009.



Sefton's total general and administrative expense declined by 5% in the 2010 nine-month period to $1.1 million, as compared to $1.2 million in the prior-year period.



Included in the 2010 costs and expenses was approximately $346,000 in depreciation, depletion and amortization (DD&A), as compared to $321,000 in 2009. Production expense during the 2010 nine-month period was $518,000, as compared to $426,000 in 2009. For the nine-month period 2010, net cash provided by operations was $856,000, as compared to net cash used in operations of $779,000 for the same period of 2009.



Stockholders' equity at September 30, 2010 was $8.7 million, as compared to $7.6 million at December 31, 2009. The Company's working capital at September 30, 2010 was $257,000, as compared to a working capital deficit of $354,000 at December 31, 2009. Long-term debt associated with Sefton's revolving line of credit was $6.9 million at September 30, 2010, and is unchanged from December 31, 2009. The Company is in compliance with all covenants associated with the credit facility.



Production and Prices Received

For the nine-month period ended September 30, 2010, Sefton produced approximately 41,000 barrels of oil, as compared to 46,000 barrels of oil in the 2009 comparable reporting period. The average oil price realization for the 2010 nine-month period improved to $70.36 per barrel, a 49% increase when compared to the $47.33 per barrel received in the 2009 period. Sefton's production base comprises 100% crude oil.



During the nine-month period of 2010, Sefton's total capital expenditure for development and exploration of its leasehold was $939,000, as compared to $2.3 million in 2009, when the Company drilled three new wells and added additional infrastructure associated with its cyclic steaming program. During the 2010 period, the Company drilled no new wells, but instead focused its capital investment on cyclic steaming of existing wells.





Operations Update

Tapia Field, East Ventura Basin, Calif.

Sefton completed its initial cyclic steaming pilot program with the return to production of the Hartje #11 well in early June 2010. Since that time, Sefton has profitably operated Tapia Field with a minimal amount of capital expenditures. The Company has focused on routine maintenance such as pump changes and water disposal facilities improvements.



Workover opportunities exist as a cost-effective way to deliver incremental oil production and cash flow. Currently, the Yule#9, a one-time Saugus Formation gas well, is being converted to an oil well which should show improvement in oil production once online. Estimated workover expense for the well is approximately $180,000. Company technical staff believes an oil rate increase of about 20 barrels of oil per day (BOPD) can be achieved. At current oil prices, the payout on the invested capital for this type of workover is less than six months.



The Company has identified workovers on three additional Hartje lease wells. Estimated per-well costs are $115,000 for easily implemented liner replacements with an expected per-well incremental production improvement of 5 BOPD to 10 BOPD. At current oil prices, the payout on the invested capital for this type of workover is less than 12 months.



Sefton continues to monitor the post steam injection response of the Hartje #11 and #13 wells. The wells received twice the amount of injected steam, when compare to earlier cyclic steam injections. The small steam injection volumes of approximately 6,000 barrels of steam resulted in wells returning to their baseline oil production rates after three to four months of production. After producing for five and seven months respectively after receiving the steam injection, both the Hartje #11 and the Hartje #13 wells are producing at rates above their baseline rates. During October, Hartje #11 produced at approximately five-times its baseline rate and Hartje#13 at two-times its baseline rate. The Company is very encouraged by the results.



Steamflood Pilot

Sefton is awaiting review, comment and approval of its previously announced steamflood pilot project on the Hartje lease. Sefton submitted a detailed engineering study to the State of California Division of Oil Gas and Geothermal Resources (DOGGR) which proposes a short-term, six-month steam flood injection study on the Hartje lease. The project is now in the final phase of the approval process. Once approved, the project can be finalized and formally permitted by the DOGGR. Upon approval, Sefton plans to convert the shut-in Hartje #10 well to a dedicated steam injector. Minimal capital expenditures are expected in order to replace liners and to perform other modifications to ready the well for steam injection. Sefton has existing steaming facilities in place to operate the injection from this location, including gas fuel and steam water supply lines and steam injection piping. Once injection begins, improved oil production response is expected from six wells offsetting the Hartje #10 injector well.



As previously announced, Sefton recently retained Dr. Farouq Ali, an expert in steamflood design, and president of Edmonton, Alberta-based HOR-Heavy Oil Recovery Technologies Ltd. Dr. Ali has supplied an initial technical review for possible implementation of a steamflood at Tapia as well as the evaluation of the primary oil recovery and the cyclic steam pilot thus far. The initial report outlines a number of steamflood sensitivity runs that model different well spacing, geologic and engineering parameters for the Tapia oilfield. Dr. Ali continues to evaluate the project and has indicated that he expects to provide additional geologic and engineering data specific to the Tapia reservoir.



The initial report and modeling supports the reservoir engineering work by Sefton's reserves engineer, Reed Ferrill & Associates. Sefton's proven, probable and possible reserves indicate total recoverable quantities for the field in the range of 51% to 78% of the original oil in place (OOIP). Given that the OOIP for Tapia is greater than 11 million barrels of oil and the primary production to date is less than 2 million barrels, Sefton believes that there is a significant amount of oil yet to be recovered by utilizing thermal recovery methods.



MidContinent

During the first nine months of 2010, the Company continued its work on select midstream infrastructure acquisitions. The Company is also in discussions with oil and gas operators in the eastern Kansas region who are seeking to utilize capacity on Sefton's Vanguard pipeline asset once it is reactivated.



In Leavenworth County, Kansas, the four-segment Vanguard Pipeline is undergoing an initial reactivation process. The Company estimates that it will have the full system operational by January 2011. In total, once the reactivation is completed, the Vanguard Pipeline will have in service eight miles of 8-inch pipeline, 6.5 miles of 6-inch pipeline, 11 miles of 4-inch pipeline and three miles of 3-inch pipeline that is capable of moving between 6 to 10 million cubic feet of natural gas per day and can also transport third-party gas. Placing the Vanguard Pipeline in service by January 2011 is subject to weather conditions and possible mechanical issues involved in pipeline testing procedures, which could potentially delay the in-service date.



Management Comment

"We are pleased to report a strong nine-month period driven by strong oil prices and complemented by achieving our expected production levels," said Sefton's CEO John James Ellerton. "Our California operations continue to operate at a profit, as we move forward with our steamflood pilot. Our California field staff is to be commended for their continued efforts in running a lean operation for Sefton and its shareholders. The six-well steam pilot program is an important step in improving the recovery of oil in place at Tapia. We look forward to beginning the program once we have received approval from the State. The modest investment in the pilot program could have positive implications for the remainder of Tapia, assuming a successful response. Dr. Ali's early evaluation of Tapia is also encouraging. It is too early to provide the final results, but we believe they corroborate our view of the field and the recoverable oil that can generate future growth for Sefton and its shareholders."

[yangou] 18/11/2010 22:05

19.11.2010
Source: ESBC Research and Analyses


Big BOC Bang ahead?



Since Bougainville's President, John Momis recently made an announcement of a strong Chinese interest to buy out Bougainville Copper; the BOC share prices shot up dramatically. This reminds us of the failed attempt of the BCL takeover by American Pritzker group during the civil war in 1991. Pritzker offered then a reported price of 3.75 USD per stock. Gold prices were about 350 USD per ounce as well as 80 percent lower for copper at the time. Also silver was much lower in 1991.
The Pritzker offer was rejected at the time by Rio Tinto with the furious words, ''we do not give away our crown jewels!''. Compared to today's market prices the equivalent virtual bid should be round about USD 20 per share. Therefore, any offer that might lure Rio Tinto has to be at 30 USD per stock or maybe even higher. That makes BCL an enterprise valued at 12 billion USD. However, it is still the fact that the mine only needs to start running and needs not to be opened completely once again. Besides, it might give rise to lure seven rich mining licenses more. As China disposes more US dollars than economically reasonable, the takeover could turn out to be a good possibility to get hard base and precious metals for some soft printed green paper.

[yangou] 18/11/2010 16:14

19.11.2010
Source: The Australian with WALL STREET JOURNAL


'Bogeys' running red hot



AND talking of hot mining stocks, Bougainville Copper shares have run up 29c or 20 per cent from $1.39 to $1.68 in the last two trading days. This is a company whose operations closed down 21 years ago in 1989 during a civil insurrection and whose controller Rio Tinto's chairman Paul Skinner made it clear at the May AGM that there were "no plans" to reopen the Panguna mine.

Rio owns 54 per cent of "Bogeys" and the PNG government, not universally adored on Bougainville, has another 19 per cent. There are however two other influences to consider. One is of course the burgeoning copper and gold prices and the other is the possibility that some resource-starved overseas (most particularly Chinese) player may take a different perspective on the risks involved.

There's a total resource there of 3.5 million tonnes of copper and 12.7 million ounces of gold. That said, there are reportedly six separate landowner associations that will need to be brought to common agreement before anyone starts spending the $US3-$US4bn required to get the mine back into production. The biggest passive shareholder we could track down was index-hugger Vanguard with 2 million shares or five per cent. They're clearly betting that one day it will be back in the major indices.