Gold Oil Share Discussion Threads

[petecb1] 03/5/2013 17:24

Thinking out loud only...

I was surprised the share price didn't go lower after relisting which has always bugged me a little. Is it possible that part of the deal with people allowed to buy the 0.75p cash box shares, was that they weren't allowed to sell until the farmout had been signed.. now it has it's game on selling out at 100%+ profits.

Whatever people say, there has been some big selling over the last few days, and there's not that many people who could be doing that at a profit.

just trying to apply some logic to whats happening!.. maybe that is a waste of time!

[hugomaracuya] 03/5/2013 17:01

Oh yes, Val. There's a reason they want them that cheap, and by the millions.

If they want the share price lower, it shall be so.

If they want them higher, then higher it will be. But only after they have had their fill at cheap prices.

[valentine] 03/5/2013 16:38

I noticed that, also, hugo..bodes well imo!

[hugomaracuya] 03/5/2013 15:05

Its been going on all day. Same DMA/broker code (7526895121, now switched to 7526895122), which incidentally is the same code as the continuous AT peppering of small trades over on AMER aswell.

Usually designed to keep the share price at a certain level (up or down), not allowing market forces to set the real price. Manipulation is illegal of course, but open to interpretation?

[oildon11] 03/5/2013 14:09

Sumone just disposed of 3 million in the space of a couple of mins!

[mojomonkey] 03/5/2013 12:57

What is going on? All this volume and mostly ATs does not look like normal PI trading, anyone got any thoughts as to what it is?

[an1mal] 03/5/2013 11:38

Computers talking to each other is all...many of my trades have been broken down in the past to weird figures.

[cockney sparrow] 03/5/2013 11:34

AT trade of 1 share the other day as well. A trade of 2 on AT usually ticks up the share price not sure why.

[nicosevos] 03/5/2013 11:02

A trade of one share just gone through,
RNS logged?

[mikestamp] 03/5/2013 10:53

My last two trades went straight through as AT trades with tdwaterhouse.

[nlmbidc] 03/5/2013 10:52

Bit of background on the z34 deal and our partners.






A very good trading day today so far. Someone is seeing value.

Maybe RB is buying more!!

Nlmbidc

[joetricky] 03/5/2013 10:46

Mine went through straight away and is showing as it should. Do I get a gold star ????

See what I did there ??? ha ha.

[boomorbust2] 03/5/2013 10:42

My buy is now showing but as a sell.

[pembury] 03/5/2013 10:40

FLIRKER. I guess a lot of it comes down to hows things play out in the region imo over time if the area starts making discoveries with BPZ about to start drilling and Karoon drilling up to three wells this year/early next then you would imagine that there will be many takers for UOG's 80% or part of it which will benefit Gold Oil (in carry). In any case the risk is off GOO now as someone else is paying for development, as the CEO says this deal now allows Gold Oil to develop their assets/ interests elsewhere. They are now carried through seismic and drilling onshore and offshore in Peru for possibly the next 3-5 years.

Of course if the area proves to not be all that then UOG can decide not to continue and hand back 100% back to Gold Oil and Goo still pocket the $6m a bit like the Capricorn/Cairn situation with Plectrum.

[flirker] 03/5/2013 10:19

Thanks guys and sorry for being lazy and not looking back. It looks like good deal so it's a strange reaction which is always unsettling. I guess there could be something going on in the background or its uncertainty of the deal and company's history that is putting people off.

I can see the value though so will take it as a good opportunity and entry point.

Was a reassuring quote from the CEO of Union

". The combination of our experienced in-house technical team and our access to significant capital will enable us to put real momentum behind the next stages of exploration"

[mojomonkey] 03/5/2013 10:08

Big volume this morning, someone hovering up at these cheap prices?

I wish I had some more spare money because I think this will be the last time we can, at this price. GLA

[cockney sparrow] 03/5/2013 10:03

Flirker for you.

The Guardian - 01 May 2013 - 10:22:25 - 6845 of 6939
Further to my earlier post, I have approached Rudolph with my full interpretation of the deal which he says is completely correct and which he is happy for me to publish. This is a very clever deal by anyone's standards.

The deal is risk based and we retain the $6m cash no matter what.

The first two of three phases mentioned in the RNS are flexible. The contract with the Peruvian Government requires us to carry out a drill in each phase or to carry out a certain amount of seismic testing. The third phase requires the drillng of a well.

Under the deal, Union Oil and Gas are free to do what they want in terms of seismic and drilling in the first two phases but if at any point they decide to discontinue exploration, then the full 100% ownership of Z34 reverts to Gold Oil with no come back.

However, if the first phase of drilling or seismic is successful and they carry on to do more seismic or more drilling, then we get a free carry on all of the work upto and including the third phase.

That means that if they decide to carry out seismic in phase 1 and it doesn't show up any drill targets, they can either continue with a second phase of seismic or abandon exploration and return 100% ownership to GOO without any costs to ourselves and we would still retain the $6m.

If they continued and carried out a drill in each of phases 2 & 3, then we would still get a free carry on the work. Again, if they drilled a dry well, they could choose to abandon exploration, returning 100% ownership to GOO or carry on to the next stage.

The extreme scenario would be where they decided to drill a well in each of the three phases in which case that would also be a free carry to Gold Oil.

It is one stonker of a deal and very favourable to both parties. There are also benefits in having Union O&G involved because as a company who have not had their reputation damaged as we have done, they could also farmout part of their share to a major if they so wished, which would obviously benefit all three parties.

This is my interpretaion of the deal and has been verified as being correct by our CEO. Never the less, I take no responsibility for actions taken to buy or sell shares based on what I have written here. Equally well, I have done my best to provide scenarios to help explain the deal. I believe these to be correct but deny any legal challenge to their validity.

I am extremely pleased with the flexibility of the agreed terms of the deal and have every confidence that Rudolph wil take this company forward to greater success.

E&OE

[joetricky] 03/5/2013 09:52

Flirker, if you look back the The Guardians posts he has had the best angle on the deal so far. There are many of us still wondering just what the deal means in plain English and in black and white. It's unclear to say the least and has been the subject of debate. Sorry it's not clear but just letting you know that you're not missing something.

[boomorbust2] 03/5/2013 09:46

I just topped up 800k at 1.69p but not showing. This price is ridiculous! RB is doing a great job and our company is in a lot better shape now than it was a year ago. I'm confident he will develop this company and eventually the share price will start to reflect his efforts.

[flirker] 03/5/2013 09:44

Hi,

Forgive me if this has already been covered. I'm just looking into GOO and just trying to figure out the farm out deal. I saw the below in the January update so can see why they have done such a deal but don't know why they didn't specify a cap for the carry. Could they possibly avoid a well in the next 3 phases? I know if they chose seismic this would just about cover the whole 360 hectare block including the 3d that's already been done.

The commitment for the present phase III consists of 720 UTE's (technical economical units) which is the equivalent of 720 square km2 of 3D seismic. Phases IV and V of the contract consists of 740 UTE's and 470 UTE's. It is the Company's choice to select between an equivalent work program based on UTE's or to drill one well in each exploration phase. This flexibility which is part of the attractions of the Peruvian license contract means in fact that a well commitment in Block Z-34 can be delayed and drilled at a time chosen by the Company as long as the minimum amount of UTE's per phase are fulfilled.

[joetricky] 03/5/2013 09:31

I agree Graham. Loads of A trades. MM's sweeping up stop losses. Time for a top up me thinks.

[an1mal] 03/5/2013 09:22

I agree this drift is nothing significant. We still have the annuals to look forward to and a summary of news on the rest of the portfolio. That, plus an updated broker note, plus detail of the schedule of work for Z34 should generate some interest.

[valentine] 03/5/2013 09:20

They will let us figs on Tuesday ımo. Perfect time to do so.

[grahambr] 03/5/2013 08:37

Just stop losses from newbies who wanted a fast buck.
For every seller there is a buyer, when they have been creamed the broker note will be released explaining all , and maybe nancy figures as well. Rudolf is planning on expansion so i don't see a down side at the moment. IMHO