Gold Oil Share Discussion Threads

[oildon11] 14/5/2013 23:10

So is this already done have they given them 90 locations??

[gattaca] 14/5/2013 22:37

I think they have to give 90 possible locations. Part of the EIA process. Now they await approval. Hopefully without changes.

[gattaca] 14/5/2013 20:44

At least GOO have now submitted their application for 3D sesimic and drilling to the Peruvian authorities. A massive piece of work which I'm sure didn't come cheap.
Still not a word from Vale. My guess is they have done nothing at XXI. Not exactly rushing themselves.
As for our Z34 partners, a few words stating their desire if not committment to drill this block and a few upbeat words on what it could mean to them and Gold wouldn't go amiss. GOO haven't come out from under the radar yet. The company is solvent, projects are being upgraded and farmed out. Annoying as it is to see this awful share price, unlike last year there is now no rush, no panic and we have a company moving forward and the future looks very good indeed.

[pembury] 14/5/2013 16:53

all the Sey P team are now at CF

[hugomaracuya] 14/5/2013 16:44

Do brokers do that? Ha! That'll be a first.

And as for fees, they are not for work. Goodness me. Fees are a God-given right, because they are brokers. They are our client. We work to serve them. Get it right, Pem.

[pembury] 14/5/2013 15:15

Has the company Nomad CF put out any note updates to include the NBM deal and the Z-34 deal?. Are they being proactive on behalf of the company, their client for their fees?

[nlmbidc] 14/5/2013 15:08

I tend to agree.

Why pay good money for an asset and not try to increade its value.

And as already said by pembury, the scope of each phase of the project was agreed with the licence when goo first acquired z34.

Nlmbidc

[hugomaracuya] 14/5/2013 14:31

.... and "aggressively", I think, was also used, - an indication of how they might take this forward. :)

[pembury] 14/5/2013 13:51

UOG don't decide the speed PeruPetro do. It will be up to UOG to fund more seismic or drill a well in this phase which has a time deadline.

If you read jt's post last week after talking to UOG and their CEO comments in the RNS it doesn't sound as though they will stand still anyway.

'..........access to significant capital will enable us to put real momentum behind the next stages of exploration'.

[chinadog3] 14/5/2013 13:39

Guardian,

I think Union also decide at what speed, or lack of speed matters progress. And we got 6m for 80% of the prospects plus all the money we have spent on it along the road thrown in..............

Yes we retain 20% but lets take off the rose tinted glasses

[nlmbidc] 14/5/2013 13:09

The important thing is that we have removed our financial obligations for some time - maybe three years.

The board can and will (based on what they have achieved so far) grow the company.

Once the growth is better known the current share price will be history.

Nlmbidc

[nlmbidc] 14/5/2013 13:09

The important thing is that we have removed our financial obligations for some time - maybe three years.

The board can and will (based on what they have achieved so far) grow the company.

Once the growth is better known the current share price will be history.

Nlmbidc

[the guardian] 14/5/2013 13:01

You don't know what we got. The last three phases of work could be worth between $100 and $200m. Union will decide.

[chinadog3] 14/5/2013 11:53

Hugo,

It doesn`t matter really if the price we took on the farm out was a fire sale scenario or other as the bottom line is we did not get much for it in my view in relation to just 20% retained etc

I hope you are right in respect of the annual report. I guess there is no definitive date for that though?
Regards

[chitty] 14/5/2013 11:06

Hope you are right re progress, but the price is reflecting some thing different I am afraid.

[hugomaracuya] 14/5/2013 10:01

I think you (Chitty & China) are forgetting the damage done to the company by the former team. When we raised enough money for drilling Nancy 2, seismics for Z34, and enough for our ongoing committments and running costs, only to find it was all milked away via Sheer Energy office services, expenses, etc. Therefore we had no money left in the bank, a bloody great bill for the seismics, no money to drill anything, yet alone pay the rent on our office.

We have come a long way from those dark days, but its going to take a bit of progress to convince the city. Look out for some of that progress in the annual report, due at any time.

[an1mal] 14/5/2013 09:47

The results aren't going to make nice reading (IMO) but I think we knew that. Or maybe, just maybe, our new man Coville has been able to make some sense of the cash burn last year.

[chitty] 14/5/2013 09:08

I agree with you chinadog, we waited a long time and to do a deal of 80% after all the hipe, makes we think why did we change management?

[chitty] 14/5/2013 08:50

May be there is something we do not know about in the results!

[nlmbidc] 14/5/2013 08:48

The share price doesn't make sense.

We have reduced the companies running costs by 60 percent.

We have reduced our forward liabilities in z34

Increased income by more than 72 percent from nbm.

Answers on postcard please?

[chinadog3] 14/5/2013 08:42

When we came back from suspension if I had been offered a rake of these at 0.75p I would have doubled my money even at this price! I wasn`t and I am as fed up as you Oildon11.

The farm out (30th April) seemed cheap as chips to me and seemingly gave away control of that project effectively.

But what do I know.....

[the guardian] 14/5/2013 01:09

A nightmare! You mean that you are a holder and yet you manage to sleep!

[grahambr] 13/5/2013 21:03

nimbidc
woooopps
Dollars or pounds I think the big worry is PENCE 1.55P (2 CENTS) !

[nlmbidc] 13/5/2013 20:32

grahambr,

oops again I make our income after costs etc about 6.3 million dollars (not pounds)from NBM

And the vale carry is 10 million dollars not pounds.

As for Z34 I am not going to try to estimate the carry on that one.


nlmbidc