Rift Oil Share Discussion Threads

[freedosh] 26/6/2014 09:24

Hi Rifters!
I am with Al and totally into SUMM.
Re; MTA - I also lost a fortune there but sold when they wouldn't invite me round for a coffee and a chat. I used to work very close to the head office.
Good that you guys keep this site ticking over. GL
I'm up in NB 8th July, Al, are you around?

[manulad] 07/4/2014 12:57

hxxp://www.meoaustralia.com.au/icms_docs/183334_Farm-in_to_onshore_New_Zealand_oil_discovery.pdf

MEO RNS is far more informative and more positive than the Kea RNS

[offerman] 01/4/2014 16:37

Thanks Hyper, means a lot.


Cheers
OM

[manulad] 01/4/2014 14:49

Glad I cut my losses with MTA and sorry to hear about your experience with MTA Offerman

Kea have higher to go once the deal is announced.4+ easily

[manulad] 31/3/2014 19:53

Interesting looking at the buys and sell on Kea today. Most of the sells are small numbers of shares whereas the vast majority of buys are hundreds of thousands of shares. A buy signal if ever i saw one.

[manulad] 31/3/2014 09:14

Kea RNS out today

[offerman] 26/3/2014 04:27

Hi Manu, Fair play. Wish I had put more in to tower at 1.4, i made 300% but just didn't put enough in. I did do well with gkp at 18 and 22p and bailed at 65( way to early as they rose to 4.50£.Lost a load with mta and pci , currently hoping the latter will make good for me.A.t b to you

[manulad] 25/3/2014 19:42

Never managed to repeat the success with RIFT. Turning £20k to £140k. Nearly moved the lot into GKP when they were 12p but bottled it (my biggest regret)

Moved most of that into the London housing market back in 2010 so I guess i've been incredibly lucky. Kept a small investment pot, lost money on MTA and POG but hope to make it all back on KEA - time will tell

[offerman] 25/3/2014 12:54

Best way Hyper, I just use very small amount to trade with the Bulk being steadfast for the last 8 years!! (patience has been tested somewhat but i`m not giving up now and just feel i`m so close to turning the corner).

[offerman] 25/3/2014 11:45

Thanks Hyper.


Yes, nice one on KEA and SUMM which has risen since you mentioned it back at 8.8p


Jeez, i nearly got Kea first thing today and nearly sold out my small GBP holding. I will get it right one day i`m sure, might take me another 5-10-15 years but i`ll get there.....

[offerman] 24/3/2014 17:00

Hi Peter, Great to hear from you and your success since 2009.


Hyper, nice header update, thanks for that.
Link to PCI logo is here and small size:



The first image. Its 252x153

[p3dr036] 24/3/2014 16:32

Look at Medusa Mining, chaps!!
See www.medusamining.com.au

This is a narrow vein miner which is actually producing gold now [i.e. not setting up a mine with production years away!]

No debt! And ISA-able!

All-in cash costs per oz of gold = sub $400/oz!!

Medusa was producing circa 100K oz/year till mine re-development programme began in past couple of years. The mined gold output went down as they drilled deeper with comensurate reduction in ore quality.

Now returning to full production after re-development programme completed. Currently producing at circa 75-80K ozs/year and expected to produce 100-150K ozs in current year with probably even lower cash costs.

I have held since April 2009 when share price was 80p!! Share Price was + 500p in 2011.

The share price went down to 90-100p during the re-development programme [vastly oversold but a buying opportunity!!]. It is currently been 125-130p and I have been buying more recently.

I feel it has been wrongly downgraded by the market due to current gold price and general market malaise. BUT!!

Gold price $1300/oz - Cash cost $400/z = $900/oz clear profit!!

No brainer in my opinion and worth a punt as the share price will not remain where it is for much longer. Quarterly statement due out soon and MML should motor away.

Worth a serious look!
Peter

[offerman] 23/3/2014 08:49

True BigDog, a lot of costs involved owed to GKP.In response to your question about Talisman. Well I'm not sure if they developed Rifts PNG discovery.Hyper, many thanks for nice comment. I also forgot to add that with PCI Algeria, they were predicting 100's of wells needed to be drilled to reach their 354mcfgpd target ( which starts production in 2017 initially then ramped up to 354 over following 4-5 years.)However not so many wells will now be needed because if the stunning results of pressure tests during the exploration campaign. Remember, each well as dictated by Sonatrach needed to be producing 2.8 mcfgpd to make it commercial.PCI AT9 well flowed 67mcfgpd ON A CHOKE overv40 more structures similar to At9 were discovered over a rift ( excuse the pun) running through the acreage. Other AT drills encountered 34mcfgpd with the lowest flow test being 4.4mcfgpd on AT2 still double the required commercial amount needed. Only one well over the campaign came up tight with no flow( the gas was there but was so tight no fraccing could achieve release of gasses there) but this well was out on the flank of the acreage.So CAPEX will be massively reduced because of the much higher than envisaged flow rates acheived. I personally also asked a director what about the massive shale gas reserves that sit above our 10.2+tcf and are the equivalent size, would you be tapping this. Response was, no, we have so much gas in our discovery that there is no need to extract the shale. Remember Sonatrach Pre-Empted Oil India and Gas offer , 4 th time only in as many decades that's been done so it is if great importance . barrie16 - 22 Mar 2014 - 19:56 - 15910 of 15913 - 0I lost a small fortune with Matra, bailed most of it in to pci which I'm hoping will bring me back up as i am £147,000 down . I only have near 300 000 shares left in Matra and will leave those for the ride out suspension to see what Maxim does for us over in the states. I won't be investing more in MTA needless to say after chuckle brothers bill and Ben display of before.If i do well with pci a big chunk is going to GKP if they stay low next 3-4 weeks , a punt on TRP for potential massive GLOW IN THE DARK drill or as i say it could be LIGHTS OUT if a dud but pure punt. I will also look out for other members here recommendations as some have been blinders from here in the past.A.T.B

[bigdog5] 23/3/2014 02:06

LR2, Investor48 saying "A long weekend for some of us" actually gives me a little comfort. I missed the title the first time.

He mentions stuff that I've put out on Jb's bb. The KRG owing us money for the Bir's and exported oil. What I want to know is who is going to pay our $800m or so "exploration back costs", how they will reimburse us and when they will commence. Because when its all added up its got to be around $1b. So where the flock is it and what are the KRG playing at.

[oilbuy] 22/3/2014 22:01

MTATaken from 22Jan RNSSuspension to trading on AIMThe trading in the Company's ordinary shares continues to be temporarily suspended until such time as the Company publishes an admission document or the relevant transactions which would constitute a Reverse Takeover under AIM Rule 14 otherwise no longer proceed.The Company anticipates the preparation of the admission document will commence shortly and it is expected that restoration of the Company's shares to trading on AIM will occur once the admission document is published.

[barrie16] 22/3/2014 19:56

With the money from Rift I bought Matra. Has anyone got any thoughts on this company's future. Locked in at the moment.

[bengee] 22/3/2014 11:32

Hellooo fellow ex.Rift Shareholders,
It's good to see some of the old names are still around
I was surprised to see this was still on the thread list.
Happy days for me in the end when the share was sold and I made a few quid.
My best performer on the AIM oilies so far has definitely got to be Rockhopper
when it hit £5+
Presently,BPC is my biggest drag but hopefully will come good sometime,from there i've gone fraccing for gas/condensate with SLE and OEX. TRP is another one that i've stuck a few quid in and waiting for them to start drilling 14th.next month.
Away from olies,I did ok when Amed spiked to 3p about 4 weeks ago, but like a fool went back in on a rumour of more deals and now locked in with a 50% loss !!
All the best with your share dealing, hope you all make a mint.
Good luck / keep happy,
Bengee

[lr2] 22/3/2014 00:55

Another 3 posts from investor48 tonight.

Fri 23:17
Re: A long weekend for some of us.

Hello Everyone,

To start with debt holders of any company,will have the first call in the event the company goes belly up.

In the case of GKP,the current outstanding debt is USD325million as if today.The current road show has intentions to raise up to USD250million straight bonds.

IMHO,this new bonds will be double digit.Bond holders want a better yield given that GKP is an oil junior and it operates in Kurdistan.Afren raised straight bonds a few years ago and the coupon was double digit.

For bond holders,they will assess the risks if GKP's assets are worth more than USD575million to start with.Well if most of us do not believe that Shaikan alone is worth far more than USD575million,I think all of us should start selling our shares!!

There are irresponsible rumours circulating of a possible placement at this stage.GKP needs to hold an EGM to start with if it plans to raise new equity at say sub 100p because the current authorized capital needs to increase before any new equity is raised.

At this stage an EGM to be call for increase of Authorised Capital could see an additional motion,to remove the CEO and CFO!!

Incidentally,the timing of GKP's roadshow coincides with Kurdistan exporting a 100K barrels per day through SOMO as a gesture and positive step in resolving outstanding issues of oil revenues and the 2014 budget with Baghdad.

Could this be purely a coincident?May be yes or may be no!

Best wishes to all.Apologies post sent using IPad,could have spelling and grammatical mistakes.can't proof read,
______________________________________________________

Fri 23:43
Re: A long weekend for some of us.

Hello Everyone,

To add to my previous post,I think it would cost a Major or NOC to spend more than USD575 million to acquire 4new concessions in Kurdistan today and to drill the total number of wells GKP has drilled to date,not to mention the cost of PF-1 and PF-2!!!

How much did Chevron pay for the 2 blocks from Reliance?? How much did KNOC spend in Kurdistan before it found oil with a new partner recently??

By the way after spending USD575 million you may not find any commercial oil let alone a Sheikh-Adi!!!!

Best wishes to all
______________________________________________________

01:55
Re: A long weekend for some of us.

opulentia,

There are takers for the bonds,it is just the coupon rate that will be double digit.It will be a short term bond 3years tenure in my view to coincide with the CB's issued last year.

My point was to illustrate the fear that no investors will want to participate in the bond issue.
The CPR states that GKP has OIP of 12.5billion barrels across it's 4concessions!If this has no value,I wonder what has????

The KRG still owes GKP a lot of money from the BIRS.I am sure the KRG knows that GKP is no ExxonMobil with a lot of spare cash sitting around!

GKP is now in the production phase of at least 10K barrels per day.The KRG also owes GKP money from the 3export shipments that GKP has made.

The predators and opportunists are taking GKP's current situation to there advantage by spreading fear and for those that are not familiar with the fundamentals of cash strapped companies and those that are but with massive assets,GKP is a perfect stock for the manipulators to drive the stock down creating fear to PI's.GKP has a lot of PI's invested in it.Institutions have stayed away because they dislike the management.

But like anything else,no matter how much they dislike the management,when the share price is low enough like now,there will be buyers.

Many PI's have bailed out but there are still thousands of PI's invested in GKP.The new bonds will probably have to be secured and double digit.

We can call it junk bond or whatever,the fact is GKP does not have a choice as it needs the funds.Afren was in a similar position a few years ago and Afren had to live with the fear of the MEND threatening to blow up facilities of oil companies operating in Nigeria,a few years ago.This threat has since subsided,but it still exist.

Thus bonds issued by companies operating in most 3rd world countries are mostly double digit.
I have received articles as recently written that gives the impression that GKP is going bust!

Going bust with no assets or with no outstanding receivables are a real concern.In the case of GKP,as I have mentioned in the above,we have outstanding payments from the KRG,we have AB that we can dispose which will not give us a great value thanks to the ultra conservative CPR,if AB were to be sold now!We have an OIIP in Shaikan of 9.2billion barrels,a major oil field by world standards and upside from the possible connectivity that SA has with SH,once SA-3 results are known and a possible new discovery with SH7, these malicious rumour mongers are driving the fear,firstly by manipulating the shares down as this is the best way to convince PI's that GKP is finished!!

Well,Majors or NOC will make the move when GKP is seen so vulnerable and we could be close now in my opinion,with the fear that is been driven,by firstly a CPR and then a Prospectus to move to the main board.This is indeed an irony!!

Strange,if GKP has stayed on AIM,we do not need a CPR or a Prospectus,the share price could be much higher now.But listing on the main board gives GKP a starting point with qualifying it's 2P and 2C resources,whilst it has been a super conservative CPR,it is a start.

We need to move to the main board but we also need changes to the management in due time.

Best wishes to all