Spitfire Oil Share Discussion Threads

[mariopeter] 10/6/2011 09:13

Thanks G. Prefer a sale.

[geoffsh] 09/6/2011 14:20

This was posted on the Griffin board by a poster who had attended the Griffin agm yesterday and asked some questions about Griffins operations.

3) why has the BOD wasted time and money on Spitfire Oil? Why not get rid?

MN adament that SRO is not a waste - could sell it today at a profit. The technology for exploitation of lignite has been developed by a third party. There is new technology available that would allow exploitation at much lower capex. Previous studies show process to be viable at $100 per barrel oil price if by product is sold, $130 per barrel if by product not sold - market for this uncertain. Figures for the application of the new smaller scale technology are yet to be determined. This most likely to occur with JV. (new)

[mariopeter] 31/5/2011 21:51

Tick tock .....

[mariopeter] 31/5/2011 21:44

Suppose the board must be thinking like me given the rns in March below:






News 21 March 2011
GRANT OF OPTIONS
Spitfire Oil Limited announces the grant of share options over 4,000,000 new ordinary shares to directors of the Company.

Each option will entitle the holder to subscribe for new ordinary shares in the Company at an exercise price of £0.12 per share on or before 31st March 2014. The options will vest in 3 equal installments as to one third immediately, as to one third on 31 March 2012 and as to one third on 31 March 2013.

The options will not vest if the option holder resigns or leaves the Company for cause prior to the vesting event taking place. All the options will vest immediately upon a takeover offer being made or a change in control of the Company taking place prior to the options expiring.

The options have been granted to directors as follows:

Number of options
Malden Ninkov 1,600,1000
Rupert Crowe 800,000
Roger Goodwin 800,000
Mal Randall 800,000
Total 4,000,000

[mariopeter] 31/5/2011 21:37

Fot sale lots of lignite and some Aussie dollars in the bank. Now who might buy that........




"Metal shock - China's electricity shortage to impact on production and prices

Summer energy shortages in China will hit the country's production of metals and bolster global prices, Commerzbank said.
'It is often forgotten that China is not only the world's largest metal consumer but also its largest producer,' analysts at the German bank stated. 'Consequently, electricity rationing in the country in the next few months should also hit the metals industry hard and support prices.'
Commerzbank believes falls in China's metal output on the back of likely electricity shortages are not yet sufficiently priced into metal prices.
'While the China Electricity Council had initially expected an electricity deficit of 30 gigawatts, the electricity provider State Grid now expects a shortage of up to 40 gigawatts, if coal shipments do not pick up soon,' it said.
Rising thermal coal prices coupled with government caps on the price of energy is making electricity generation unprofitable in many parts of China.
Coal accounts for more than 70pc of the fuel requirements of power plants in the Asian nation, Commerzbank notes.
Some coal-fired power stations in provinces such as Gansu, Hubei, Hunan, Shanxi and Shaanxi have closed, resulting in the worst electricity deficit since 2004, he official Xinhua News Agency said last week."

[geoffsh] 30/4/2011 11:46

Griffins results should be out very soon, will be interesting to see if there is any comment on future developments at Spitfire oil.

[mariopeter] 19/4/2011 14:21

Well done geoffsh ....something is afoot. Could not help you on the issue of the 26m shares but your overall analysis is in agreement with mine. Low hanging fruit! A patience play.

[geoffsh] 19/4/2011 13:35

Well looks like I got in here just in time!

...........................market cap £3M....................

...................cash in bank £5M...............

......................only 42M shares in issue.............

...............directors recently awarded themselves options............

........any news on involvement with a new oil and gas project should see the share price move up very quickly in my opinion............

[geoffsh] 17/4/2011 08:19

I see 16 million shares were issued in 2007 @60p per share to raise £10m after costs, there are now 42 million shares issued, can anyone tell me when the other 26 million shares were issued and at what price ?.
Thanks, geoffsh.

[geoffsh] 16/4/2011 23:07

Thanks for that mariopeter,I am carrying out research with a view to investing in Spitfire Oil,the link explained the sudden rise.

[mariopeter] 03/3/2011 15:05

SRO mentined in this presenation and hence the spike recently.

[gibso6767] 20/2/2011 18:12

ANR did similiar a bit back a nigh on vertical climb to 20p or so on no volume ,neither was there ramping or news off the same .
The killer spread put me of SRO and the grasping at straws gold mining attempt a bit back .
If you wikipedia Australian Energy theres a plethora of details and firms mainly lignite based thats afoot inn that part of austaralia ,i chose ANR and so far have multi bagged ,well worth a look and backed by the chinese in the form of CNOOC ,with the olympic damn mine nearby hungry fos diesle ,elec it seems very good

[mr mat] 18/2/2011 16:33

another one for the bottom draw eh!!!!! never mind.

[phillis] 18/2/2011 15:31

when it is a nipper like this of course it can
you have been suckered

[unglove] 18/2/2011 14:26

An astute post:

mr mat - 16 Feb'11 - 14:28 - 298 of 311

no share goes up nearly 50% for no reason(without a sharp retrace).

[phillis] 18/2/2011 13:21

going back down....

[soulsauce] 18/2/2011 11:34

Oh dear, now try to sell some - same old, same old.

[mr mat] 17/2/2011 17:09

nice tick up at close.should be up tomorrow aswell.could it be the MMs up to tricks trying to keep the price down.imho i believe theres something going on and only a few select people know. no retrace is good news,but we do need some news.

[raideradg] 17/2/2011 12:29

yes i bought another tranche. will add again this afternoon. with a 50% rise yesterday there is something going on in the background. could be that someone is looking at SRO as a cash shell to reverse into...?

[raideradg] 17/2/2011 09:16

bought only 11K this morning but buy not showing. why would MMs delay showing any buys?

[mr mat] 16/2/2011 16:43

does griffin mining still hold 39% of spitfire? they paid 15p per share in 2008. i take it they have a big say in spitfire. any help appreciated.tia.

[mr mat] 16/2/2011 16:08

i got out of grl and rrl too soon so not this time. third time lucky(or not)lol

[phillis] 16/2/2011 16:00

don't bet on it
sorry I guess you already have!

[mr mat] 16/2/2011 15:43

iloveit,somethings going on.and as normal,we will be the last to know.BUT, we are heading north and not south.there be gold in salmon gums.