Riverfort Global Opportu... Share Discussion Threads

[the prophet] 01/3/2011 09:56

Mr Tyson, where are you? . We are in need of your expert commentary, the damn things going up again!

[ltinvestor] 28/2/2011 16:33

Hello Mr Tyson.Should I tell Blackrock to sell their newly acquired shares on your expert advice.!

[the prophet] 28/2/2011 16:14

-interesting, Mr Tyson, I assume you are putting your money where your mouth is and are short on the stock. I expect a closing of your short v.soon!

-had a modest top up this am, and most pleasing to see already in profit!

[mr tyson 666666] 28/2/2011 15:59

I have now downgraded this from sell to strong sell. Looking very overvalued now and expect a severe correction any day!

[ltinvestor] 25/2/2011 10:18

The new institution taking stock according to todays Times is Blackrock!!

[the prophet] 24/2/2011 15:49

-understand, no probs

[ltinvestor] 24/2/2011 15:22

Sorry Jeff but my post was intended for your eyes only!

[the prophet] 24/2/2011 13:51

ltinvestor
-your posts keep disappearing, makes it look as if i'm talking to myself!

[stegrego] 24/2/2011 13:06

Im happy with a placing at such a small discount and after such a steep rise in recent months.

[the prophet] 24/2/2011 10:29

-institutions clamouring for stock always gets me a bit worried, as they would sell their granny to make half a %!
-I'm holding here, btw
-I thought they were ok for cash, but i guess you can never have enough of it, although i seem to remember share buy-backs a few yearsa ago!
-still, lets hope Sharples/Graham use the proceeds to good effect, I'm sure they will, and more institutions on board will help keep the boys in line and focussed on delivering some shareholder value! Seems a long time ago since they floated, but the share price ain't changed much!

[the prophet] 24/2/2011 09:44

-looks like institutions got their stock from elsewhere!
-discount is modest, to be fair

[roily] 21/2/2011 21:00

Well as long as the Canadian markets are closed, and it is rather slow here in the office, I thought I would start my expose' on the relationship between RGO, Tigris Petroleum, BHP Billiton and the Khalakan Block. This is based on a fair amount of reading and some assumptions and I will try to alert you to the assumptions.

Tigris grew out of BHP's plan to get a foothold on the Halfayah Oilfied in Southern Iraq via a humanitarian gesture to provide wheat to Iraq around 1996. Together with the Australian Wheat Board they would provide about a million tones of wheat to Iraq in exchange to the rights to develop the Halfaya Oilfield. Of course none of this was known until the Cole inquiry started investigating these "humanitarian" gifts. There is plenty of information out there on the dealings of the AWB, Tigris and BHP and if you care to get into the details just Google Tigris Petroleum and you can read all you want.

I find it all very interesting because the President of Tigris was Norman Davidson Kelly who was the former President of BHP Petroleum Middle East Division and went on to become the Chief Executive Officer of Range Oil & Gas Inc, and is now a Director and President of RGO. Assumptions: The way I figure it is that Kelly's real interest was for Tigris to secure fields in Southern Iraq but when the Cole inquiry put an end to that plan he had to form Plan B and that was RGO. As BHP's president of Petroleum in the Middle East I am sure he knew a great deal about Iraq and Iraqi Kurdistan and in 2005 the Khalakan region was the subject of a Tigris study. It appears that some of Tigris's dealings were with insiders with the Iraq Oil Ministry and as such I have to assume that Kelly knew full well what the potential is for Khalakan. I suspect that Mr Kelly did a lot of leg work in his 15 plus years of heading up the BHP ME Division, Tigris, Range Gas and now RGO and he is privy to a lot of inside information and I do not think it is an accident that RGO is involved with the Khalakan Block.

There are a lot of parts and pieces to this story and there are a lot of pleyers on the Khalakan field and I hope this post opens up some dialog on RGO and the Khalakan Block. Like I said at the beginning I have done a lot of reading on this and I have reams of paper so if there are any questions please feel free to ask, likewise if anyone sees something that I am missing please let me know. The above is a very condensed version so feel free to expand.

[stegrego] 21/2/2011 20:17

This is around the level that the share price was for the whole of 2009.

If it can break above 135 then it might push on from there where the 170s may cause a few issues.

Then again, that could all be a load of codswallop.

[ltinvestor] 21/2/2011 14:42

Buys of 20k and 25k have been going through for the last 5 sessions.Obviously institutional buying following last weeks presentations which must have been well received.Very little stock available!

[kirkuk] 18/2/2011 16:54

Pdm

What was the announcement today? Although an announcement indicated it will not show.

[pdm] 18/2/2011 14:51

loverly announcement today, the touch paper is gettin lit, these should fly eventually, they are in the right sector as the iPAD is a game changer for this space, mobile marketing is such a hot sector imo, and these are one of the top 15 global companies...if they follow Velti onto Nasdaq, then it would get real interesting......dyor!!

[roily] 17/2/2011 12:16

BM- Cool. I had sent him essentially the same questions in an e-mail yesterday. I guess he liked your questions better than mine:) If I get anything different in a response I will share.

[ltinvestor] 16/2/2011 09:04

>Bottomfisher.Attend the agm and ask whether Keedy and Brassington, who hired her,were sacked or left the company of their own accord!!I do agree that the company are very undervalued and are very much in the right space.

> Stegrego. I agree that analysts, generally speaking, are very poor and that PI,s should carry out their own research.I think you will multibag many times!!!

[stegrego] 16/2/2011 05:54

Itinvestor,

It was a comment on how poor analysts are.

Personally i bought at 55p.

I wouldnt follow Nigel Wray as previous dealings reveal him to be a
total shister.

[bottomfisher] 16/2/2011 00:38

The Microsoft deal sounds exciting for RGO but a couple of cautionary remarks. Microsoft, which has just signed up a strategic alliance with Nokia, the troubled mobile handset maker, is lagging well behind Google and Apple in the smart phone race.

In addition RGO continues to suffer from a surprisingly high level of turnover in its upper ranks. How-Do, a media website in RGO's hometown of Manchester, reported last month that RGO had parted company with its recently installed group marketing director Sarah Keedy, who joined 2ergo last May from Newton-le-Willows' Speedy Hire plc, where she was also group marketing director. Prior to this she held posts at Marconi Plc and DSGi. She also holds an MBA from Manchester Business School and a Masters in practicing management from INSEAD and McGill Universities.

Joint group managing director John Stevens, who worked with Keedy at DSGi, has now assumed control of the company's marketing strategy - utilising the knowledge he built up during a previous tenure at DSGi Business, where he was sales and marketing head.

According to a comment on the How-Do website RGO has also parted company with its HR director and lost a couple of important clients including The Guardian.

Hope that RGO's agm (Feb 24th) will shed some more light on the outlook for a company which looks undervalued on paper.

[rhubarbe] 15/2/2011 22:34

No, pana, I didn't. Before the exchange opened TDW let me preview a limit order at 9c but then when it opened every time I tried I just got a warning telling me that my limit price was higher than the current ask and it would be immediately executed. I tried a limit down to 2/10 of a cent and it still returned the same message. It also said that the EPIC was invalid.

I gave up.

RGO were selling this as on trend with Taq Taq. Now I can see from the SNM map that block K28 is on trend with Taq Taq but the majority of RGO's prospects on the later presentation are on K29 and on trend with Miran East. Maybe that's the source of the indecision. If I were they I should drill the prospect on K28, and they can have that tip for 2c. :)

[beastly martion] 15/2/2011 21:00

roily
I have had a response from Garth Edgar, CFO
Please do not directly quote back to RGO from my post as this was a private email and I wish to retain my contact with Garth.

TSXV listing still 2 to 3 months away as we continue to await comments from the exchange on various matters including the appropriate O&G tier category.

We also continue to await the report on the seismic program that was completed in November.
Unfortunately, we are at the mercy of the operator's schedules as they oversea this activity.
We have taken the raw data from several of the more promising lines and are getting that data processed in Calgary (for essentially a second opinion).
Looks like next month for the final reports on the seismic program.

If a drilling program precipitates from the seismic results we will likely see spudding in Q3 2011, and we will require more funding for this.

Garth Edgar, CFO

I have several concerns from his response.

1. RGO originally planned to list on the TSX Venture Exchange in April 2010. Here we are now nearly a year later and "we continue to await comments from the exchange on various matters including the appropriate O&G tier category". Does this suggest RGO are having problems meeting the requirements of a TSX Venture listing? Surley the appropriate O&G tier category should not be that hard to decide as I would have thought it would be the same as the other Canadian Kurdistan oil exploration companies such as VST, LFD, WZR, SNM etc?

2. "If a drilling program precipitates from the seismic results we will likely see spudding in Q3 2011, and we will require more funding for this".
Is it just me or does the word "If" raise some doubts and concerns? I thought under the terms of the PSC they are already contractually required to proceed with a drilling programme so there should be no if about it?

3. The RGO web site still states "In November 2009 the Company raised $25,488,000 in order to complete the acquisition of the Khalakan Block, and ensure sufficient funds for the 2010 exploration program including shooting seismic and drilling."

This is clearly not the case as they are now saying they need further funding for drilling.