Rift Oil Share Discussion Threads

[p3dr036] 16/10/2010 15:19

But the assets may still be "marooned" up country!

Does anyone know what happened to the RIFT board members, i.e. Jenny & her husband [the "good" ones!] Can't find their names on the Talisman PNG team and suspect they are working in New Zealand.

Good weekend all

[lgw] 16/10/2010 14:28

Just joining in the reunion, GKP has just(Friday but not announced yet) completed surprise funding of £109 million at £1.40.
There is great speculation of what these funds will be used for and I guess we will find out in the next couple of weeks. It of course underpins the GKP shareprice at 1.40.
I have also a big stake in RRR and hope you both have signed on for email updates from RRR I got 4 emails from Andrew Bell last week alone, Great shareholder relations.
Talisman certainly did me a favour by taking over Rift in time to get into other resource shares at rock bottom prices.
GL all Rifters
edit perhaps guys in a few years time ex rifters could all club together and buy Rift assets back before they are developed! lol

[bigdog5] 16/10/2010 14:09

Pete, yes i read it and was amazed by the value differential.

Currently money tied up (always the way) and can't take advantage of several oppos i have researched that are just begging for investment.

One i did buy though was XEL, heavy oil in North Sea. It just ticked all the boxes and still imo worth getting.

Good to see you still making money, wish i had seen RRR at 2p.

But there again i wish i had seen GKP at 9p !!!

Its that time of year again Pete, knowing where ish you are have you got the sand bags ready or have you dug a moat!!!

[p3dr036] 16/10/2010 11:35

Hi bd! I went off oil stocks in general as I began to feel that the "dry hole" risk [oil exploration] was far greater than the "poor resource" drill core [mining exploration].

For me, and it's a personal opinion of course as all investment decisions are, I just felt that a dry well had a disproportionate negative on an oil company's share price in comparison to the exploration risks involved in mining. Desire's recent dry hole in the Falklands is a case in point.

The costs of mining exploration though not small are considerably less than those of oil exploration - especially off shore. Success of course is well [!] rewarded but the effect of a dry or non-commercial well [non-success] can be pretty dire!

You mentioned RRR [Red Rock Resources] This is a company I got into earlier this year when the price was around 2p. It's currently 6p I expect this to be another ten-bagger [or better] and I'm in for the long term.

The estimates you refer to are correct and are from the Edison report dated September 2010. These were the "worst" case to "best" case scenarios discussed in the report. The report is on the Red Rock website and is well worth a read. RRR has a large stake in Jupiter Mines [quoted on the ASX] and Andrew Bell Red Rock's Chairman is on the Jupiter Board. The Edison report can be seen on the Red Rock website - see

Andrew Bell appeared at the 70th Minesite Forum and his excellent explanation of the company and its future can be seen on

Worth a look!

Good luck with your oil/gas shares!

Peter

[bigdog5] 16/10/2010 01:19

Wow, the gangs all here, just like Led Zeppelin reforming.

Pete how can you stay out of oil stocks?

Encore has had a great run with more to come (Cash has been pumping it everywhere !!!) I suspect he's related to AB. Takeout must be on cards.

RKH has done the same although a bit turbulent currently

XEL cleared for takeoff

GKP all the ducks are lining up and there's loads of news to come.

What do you make of RRR. Its been valued as going to 21p or 70p. Unsure about that one.

[cashandcard] 15/10/2010 19:58

tim00,

They have plans to increase production from an initial 500tpd operation to 1,500tp/d. But that's based on the current resource (without any increases) and whether they can get sufficient milling capacity on-site.

The profits would go towards an exploration programme that looks to exploit the other 90% of the San Jose structure that has not been drilled yet. The business model from that point is similar to Encore oil - prove-up and sell-on. If this strategy is even 1/4 successful, the resource should grow very attractive to midcaps in the area. Recycling the profits to increase the underlying asset base makes sense if take-over is name of the game which it is here. I have not seen anything to indicate they would take the increased resources at San Jose towards full-scale production.

Both AGQ and EO. are winners in my opinion.


Cash

[tim00] 15/10/2010 18:32

Cash, what's the timescale for producing from the rest of the structure? I suspect it's many years. Still, I'll keep an eye on the company. I know Encore very well and have made good profits there. A strong buy, along with (imo) AFR and GKP which also have high impact drilling in progress.

[cashandcard] 15/10/2010 18:27

tim00,

AGQ is profitable at $18/Oz Silver price (which is what their mine will need it to be at). Currently, Silver is $24.5/Oz (I'll leave the rest to you). Also, they intend to reinvest the profits into drilling the other 90% of the structure where the Silver mine is - potential is HUGE. Unrisked upside is said to be as high as £2.40 - but they need to drill the rest of the structure to achieve those stratospheric numbers.

But you have a good point about 'high-impact' drilling. Encore oil is about to start a 3-4 well 'high-impact' exploration campaign on the Catcher block. They are looking to double the 300mmbbls they have at Catcher already. They will be busy drilling until Xmas so I wouldn't want to be out of it.

Encore oil has an impressive track record - of the 16 wells drilled since 2006, 14 have been oil&gas discoveries (amongst them, 2 major oil discoveries - Catcher and Cladhan). The other two wells that didn't discover, one was to test an old gasfield for gas storage viability and the other a duster. On balance, a hugely successful team.

Also, they have just hired Paul Doble, the Development chief of the Buzzard oilfield, to take Catcher to the next level. Writing is on the wall folks.

Cash

[offerman] 15/10/2010 18:22

Just bought more pci today.

[cashandcard] 15/10/2010 18:13

P3dr036,


Yes, they are on the verge of some big developments re. production. And all the while, Silver keeps rising ;) I am looking to increase my stake in AGQ, I have it in the ISA so very happy with it at the moment.

Cash

[tim00] 15/10/2010 18:12

I respect your investment decisions Peter, and share your interest in VGM. But a cursory look at AGQ reveals that in its early stages of production the company will be barely profitable. In contrast, high impact drilling by oil companies can result in the share price rising by multiples of the current sp, so they are always worth investing in irrespective of one's view about the short term outlook for oil prices.

[p3dr036] 15/10/2010 17:40

Bit more from Talisman

[p3dr036] 15/10/2010 17:36

Cash

Held EO. a while back - but oil shares don't interest me at present.

Bought some more AGQ today at 20.2p as I'm convinced as I supsect you are, that the news about the commencement of silver sales and +ve cash flow, is due in the next few weeks [or earlier!],

The company has stated it will be receiving cash for its silver from the new contract milling etc in Q4 2010 and I suspect that is going to happen soon!

Sold some DME & NYO to fund it. Expect to take profit and be back into DME & NYO a.s.a.p.

Made a small profit with the new AGQ shares on the day!

[cashandcard] 15/10/2010 17:29

P3dr036,

In AGQ also, that is going places. Have a look at EO. as they are about to start a major drill campaign.

Avoid KEA like the plague ;)


Cash

[p3dr036] 15/10/2010 17:19

Hello fellow [ex] Rifters!

Just for interest I went on the Talisman Energy website today to see what they'd been getting up to since they took RIFT over in 2009.

The answer seems to me to be "Nothing much"! Here's a cut & paste from the PNG page which was last updated on March 19th - showing how "core" PNG is to Talisman!

=======Quote==========
In August 2009, as part of its gas aggregation strategy in Papua New Guinea, Talisman acquired Rift Oil PLC to acquire a 100% working interest in two exploration licences. In September 2009, Talisman entered into a farm-in agreement for two licenses held by New Guinea Energy Limited. Also in September 2009, Talisman acquired a 50% working interest in two licenses from Horizon Oil Limited. In December 2009, Talisman acquired Papua Petroleum Limited giving Talisman a 49% working interest in four exploration licenses. Subject to regulatory approval, Talisman has interests in 12 blocks in Papua New Guinea with an areal extent covering in excess of 8 million net acres.

In 2010, Talisman plans to spend $200 million, $85 million of which will be directed towards drilling one development well and conducting studies to develop monetization options in relation to the Company's gas aggregation strategy in Papua New Guinea. In addition, the Company will participate in up to four exploration and appraisal wells.
===========UNQUOTE============

Hope you are all well. You may see my moniker on some of the threads here on ADVFN. These days I have no oil & gas shares at all, having gone into small PGM producers [preferably ISA-able ones].

Currently in MML, AGQ, DME, NYO, OTC, OYM [TSX share] OLV [TSX] AAU, KEFI, RRR VGM and EMED. Very happy with all of those

Good luck to you all
Peter

[lgw] 15/10/2010 12:11

it is a diluted version available behind the counter at all chemists as a mouthwash.. lol.. really good works immediately, honestly no pain involved!!!

[offerman] 15/10/2010 11:57

LOL F.D.

Now get yaself back in to MTA!

[freedosh] 15/10/2010 11:14

They made a film about him (the Star, Linda Lovelace, used to be a neighbour of mine!)
Deep Throat!
freedosh

[bigdog5] 15/10/2010 11:11

Hydrogen peroxide (H2O2) is an oxidizer commonly used as a bleach. It is a pale blue liquid, slightly more viscous than water, that appears colorless in dilute solution. It is used as a disinfectant, antiseptic, oxidizer, and in rocketry as a propellant.[2] The oxidizing capacity of hydrogen peroxide is so strong that it is considered a highly reactive oxygen species.

Hydrogen peroxide is naturally produced in organisms as a by-product of oxidative metabolism. Nearly all living things (specifically, all obligate and facultative aerobes) possess enzymes known as peroxidases, which harmlessly and catalytically decompose low concentrations of hydrogen peroxide to water and oxygen.

LGW, surprised you still have a throat!!!

[lgw] 15/10/2010 10:50

maybe the time to look at BZT rumour of scoping study results and other news on Monday 23rd Oct. for info check mout the last few posts on thr BZT thread.
BZT valued by Edison at £2.17+ currently 30p to buy, but DYOR

[lgw] 14/10/2010 23:15

I believe there is a bad cough sweeping the nation.
Re Cold/Manflu/cough.
Go to Boots and buy a bottle of Covonia chesty and a bottle of Hydrogen Peroxide 10% mouthwash (less than 70p for the latter and you will have to ask the pharmacist for it)
Take the Covonia as per instructions and 3 times per day gargle with the mouthwash diluted by 1/2. The hydrogen peroxide is also fab for getting rid of earwax, lie with your head to one side and get your wife/husband lover /butler to pour a few drops into your eardrum it fizzes and wax comes to surface and can be removed with earbud, repeat in both ears til no more fizz.
I go through about three bottles of Hyd Perox. per year esp for ear infections the kids get from swimming. If I have a sore throat I gargle immediately and pain goes tout de suite. You can also snort this for sinus trouble but have not tried myself.
Health and GL to all

[cashandcard] 13/10/2010 09:02

Morning Rifters,

Encore oil AGM tomorrow. News expected on spudding of Varadero well (Catcher block) and more specifics regards the size of Cladhan.

Encore have changed the venue for the AGM to accomodate a larger expected turn-out. I'm sure they'll be some good talk afterwards.

Don't leave it too late, Catcher wells are shallow so 15-20 days from spudding a result is expected. Varadero is the sandstone analogue just west of the Catcher oilfield. Its also the first of a 3-4 well drill campaign on the block. Don't miss it folks.


Cash

[fathert] 13/10/2010 08:54

GILLY9 - 13 Oct'10 - 09:03 - 3113 of 3116

manulad, can we claim compenstation from matra for all the disappointments,delays, no pl ,no oil, nitrogen pockets, no gas !!!!!! shall i go on ???? ffs

manulad - 13 Oct'10 - 09:43 - 3114 of 3116

in a word no :)

[lgw] 12/10/2010 09:07

Got you, I am the pavlova you are an... egg? surely you can do better than that manu lol