Spitfire Oil Share Discussion Threads

[lkfjmdku] 11/10/2011 10:58

director options at 12p!
lots of motivation to get this back to 20p

[lkfjmdku] 11/10/2011 10:44

great entry point

[lkfjmdku] 11/10/2011 10:22

£3 million market cap
£5 million cash

gold deposits
lignite deposits

this can't last at this price!!

[lkfjmdku] 11/10/2011 10:21

well this is exciting!

[lkfjmdku] 14/9/2011 10:09

yes making a profit as well! Thanks geoffsh.

[geoffsh] 06/9/2011 07:57

From Griffins Interims : Griffin has a 39.2% equity interest in Spitfire Oil Ltd ("Spitfire"). Griffin's share of Spitfire's profits of $28,000 (2010 losses $127,000) have been recognised in the interim results.

Unless I am mistaken if $28,000 represents 39.2% of Spitfires interim profits Spitfire must have made $72,000 profit for the first six months. This of course would be interest from the $5,000,000 in the bank.

I can not think of a safer company to have shares in and with a bit of patience something exciting will surely happen sometime. in the meantime cant see any downside but potentially loads of upside.

[geoffsh] 30/8/2011 19:36

Griffins interims come out Wed. 7th Sep. Hopefully there might be some mention of any plans or developments for Spitfire.

[mariopeter] 09/8/2011 10:07

Nice to have some money sheltered here amid this market mayhem!!

[lkfjmdku] 01/8/2011 14:16

beginning to get noticed this one

[lkfjmdku] 01/8/2011 14:15

Well said geoffsh

50000 buy just gone thru chaps.

[geoffsh] 31/7/2011 16:54

Kev0856153 - It is just a case of waiting now,there are only 42M shares on issue so any positive news at all could put the share price up strongly.



7.13p Change Today: 0.000p
52 Week High: 10.75
52 Week Low: 6.13
Currency: UK Pounds
Shares Issued: 42.55m
Volume: 20,000
Market Cap: £3.03m
Beta: 0.28

[kev0856153] 29/7/2011 14:21

got me some at 7.09p

[lkfjmdku] 27/7/2011 12:46

8 million aussie dollars is £5.4 million

The SRO market capitalisation is just £3 million!

[lkfjmdku] 27/7/2011 09:07

12p options announced in March!


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.

[lkfjmdku] 27/7/2011 09:00

This very good information was posted on the other thread!


geoffsh - 9 Jun'11 - 14:20 - 325 of 334

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)

[geoffsh] 24/7/2011 20:14

lkfjmdku - It is difficult to see how anyone could go wrong investing here, virtually no downside, with £5M in the bank and few costs, but with any positive news, potentially huge upside.

[lkfjmdku] 24/7/2011 19:59

intresting news

[lkfjmdku] 24/7/2011 19:59

MN adament that SRO is not a waste - could sell it today at a profit.

[lkfjmdku] 24/7/2011 19:42

WTF!! Cash reserves are £5 million where as the m/cap is just £3 million. Bargain alert.