Rift Oil Share Discussion Threads

[offerman] 11/11/2011 08:49

Hi Hyper, Understand as i am in the same boat with Pci, won`t be offloading any yet but if they do rise quite a bit then 100 000 pci shares could buy me 2 million mta shares Jan 2012 or December 2011. If pci get to 20 at some point then that equates to 4 million shares and if that happens i might actually buy 12 million mta shares just for selling only 300k pci shares. That would still make it only a punt while retaining bulk of pci shares.

If mta did produce from a13 it would only be 80-120 bopd, find it odd they raise 1.2 million just for those outputs although N.H did state they would do this when i spoke to him directly earlier this year.
A14 would be company maker should they get the drill right this time. Financing is going to be massive issue for them on this. If that happened then mta would certainly multibag.

AIMHO of course and i have been incorrect many times before. (But , hey we can all dream).

[scoobydoo99] 11/11/2011 08:48

Held pci for years, my average in pci is 16p, some way to go yet, but it'll get there eventually. If I had anything in profit just now I'd have topped up.

[offerman] 11/11/2011 08:32

Hi Scooby,Pci will see you good.
Ratification coming in next 3-4weeks
AT9 Horizontal due shortly and flow could be highest on the field yet bettering the recent at8 38mcfgpd (at8 will be in excess of 50mcfgpd once more capale equipment arrives to cope with such high flow rates).

Capital Markets day gave us a good idea to field size with mid case being 10Trillion Cubic Feet Gas and top end 20 TRILLION cubic feet gas Most in Northern section.
Field size hasn`t yet been reached as every drill has hit gas, what they need to do is drill and hit dusters to know extend of field size.

Reserves are likely to increase now as at7 was drilled in southern part of the field as twice the commercial requirement meaning now that the southern portion of the field will also produce thus increasing reserves further. The field size is the size of Wales.

FREEDOSH/HYPER you might want to check out pci as much news forthcoming and share price looks like hitting 12p by the end of January.

[scoobydoo99] 11/11/2011 08:29

Lol, the place i'm headed is very secure, however malaria tablets at the ready.

[freedosh] 11/11/2011 08:23

Careful where you bury the spare ribs - I hear there are some migratory dingoes that might nick them
freedosh

[freedosh] 11/11/2011 08:09

Good source of bones I hear Scooby - don't overindulge
freedosh

[scoobydoo99] 11/11/2011 08:00

Wonder if talisman have got around to developing the rift well in west Papua. Oddly i'm headed there on business in 2 Weeks time so maybe I'll find out. My rift cash went into afren and pci, both looking good but patience required

[steelwatch] 26/10/2011 16:07

Hyper - did you get well acquainted in Tyndrum? Could be useful in future if you did. Chris responded to an email query from me a while back and seems quite approachable.

[p3dr036] 23/10/2011 18:22

Good luck to you all!!

[bengee] 22/10/2011 14:28

Worth a read if your interested

[offerman] 14/10/2011 09:06

Hyper, sounds good , will stick on monitor list. Can`t take position yet though as you are aware i`m waiting for my pci`s to do very very well which they should before March 2012 with all the news upcoming.


Ireminisces: Rift was a good deal at the time, ok so worth more, but hadn`t they have sold it the share price would of got caught up in credit crunch and languished at 2-3p, it gave us cash to invest elsewhere which many did and well out of.

[and01] 13/10/2011 19:01

Made my day to see news on the Rift thread will look at Sgz

[ireminisces] 13/10/2011 16:33

rift was one of a kind all be it sold on cheap to ex kea management.
What price was rights issue in pencE?

[offerman] 13/10/2011 16:07

Hyper, is this company exploring in Scotland, if so i just them mention it on the news this second on radio 2.Hoping to get 100Million out of it and creating 50 jobs, was last mined, think he said 30 years ago.

[p3dr036] 10/5/2011 19:08

Offerman - good luck with pci.

I've given up on gas & oil companies for the time being and have been concentrating on precious metal miners. My reasoning was that I didn't like the uncertainty and the costs of drilling 5000 - 12000 wells which turn out to be dry 4 time in every 5 tries. It's all very well for major companies, but it is very hit and miss and the smaller oil & gas explorers get hit disproportionately with every dry well.

It seemed to me that there are much lower drilling costs for the small mining companies whether mining companies or explorer miners and this s simply due to the fact that they are drilling with small quite portable drill rigs. Like oil & gas companies they are exploring a known geological configuration. But they drill down only tens or hundreds of metres rather than thousands. They take out drill cores for analysis and the whole process seemed to me to be much more predictable. This very over simplistic thinking led me to look more into mining and I'm glad I did. The international mining evaluation standards like the Australian JORC and Canadian NI 43-101 codes make life easier as well in evaluating differing mining discoveries.

There are many really good posters on the mining threads too!

[p3dr036] 10/5/2011 18:02

On Target you are absolutely correct! Apologies to all. I can only blame thick fingers, poor eye sight at present and general old age!

[on target] 10/5/2011 11:51

"RRL is underpinned by a holding in Jupiter Mines, Regency Mines and a few other mine. They have recently teamed up with T1ps.com's Gold Fund both taking a slice of Ascot Mining [ASMP]."

Surely you mean RRR not RRL?