Springfield Properties Share Discussion Threads

[coolen] 02/12/2014 20:52

Tonight, well after the market close, Mr Rowland has revealed an 8% stake in SPR.

[solarno lopez] 28/11/2014 07:06

COOLEN somewhat irrelevant as JUICIN DRUMROLL is utterly correct

[coolen] 27/11/2014 21:07

Rowland is well-connected. Something is going to happen !

[juicin drumroll] 27/11/2014 17:47

Anything any of the Drummond brothers is involved in will result in them making money & shareholders losing money.

[moreforus] 27/11/2014 17:33

Interesting RNs

[solarno lopez] 19/11/2014 10:28

Whilst they continue to issue themselves lots of juicy options without actually putting a great deal into the company.

[ryan83] 19/11/2014 10:17

further down that RNS


5. The Company's operations following the Disposal

Immediately following Completion the Company will be an Investing Company and its assets will comprise the cash from the Disposal (net of transaction costs of approximately £13,500) of minus £3,500 plus 94 per cent. of any book debts recovered by the Purchaser prior to Completion and existing cash resources of the Company (having deducted the investment made to date in KOG of £100,000) of approximately £260,000. In addition, given that the Purchaser is only acquiring the Assets, and the Employees of the Existing Business will transfer on Completion as a matter of law, all other current liabilities within the balance sheet of the Company as at Completion will remain with the Company following Completion. It is estimated by the Board that immediately following Completion net assets of the Company will be approximately £400,000 (taking into account the Company's existing cash resources, cash received from the Disposal on Completion and the transaction costs).





(having deducted the investment made to date in KOG of £100,000)

they havent confirmed yet the deal is closed, but basically the KOG deal is done as just need shareholder approval.


Subject to the approval of an investing policy and the disposal or realisation of the existing business in the Company, as referred to above, the subscription for the shares in KOG will be made through a cash investment of £150,000. The Board has been informed that KOG will use the cash investment to continue the process of re-opening another of its existing oil wells. In addition, this investment will enable KOG to commence fracking on one of the existing wells

[ryan83] 19/11/2014 10:12

from last RNS

In addition, the Company informed Shareholders of its intention to seek approval from Shareholders to the disposal or realisation effectively of the Company's Existing Business and Assets (with the effect of the Company ceasing to own, control or conduct all, or substantially all, of its existing trading business) and the adoption of an investing policy which is more in line with market trends and which could include oil and gas and the resources sector in general. The Company also informed Shareholders of its intention to acquire approximately 4 per cent. of Kentucky Oil and Gas plc through a subscription of £150,000 in cash for 3,333,333 new ordinary shares (being 4.5 pence per share) in KOG valuing KOG at approximately £3.77 million post investment.

[ryan83] 19/11/2014 10:12

from last RNS

In addition, the Company informed Shareholders of its intention to seek approval from Shareholders to the disposal or realisation effectively of the Company's Existing Business and Assets (with the effect of the Company ceasing to own, control or conduct all, or substantially all, of its existing trading business) and the adoption of an investing policy which is more in line with market trends and which could include oil and gas and the resources sector in general. The Company also informed Shareholders of its intention to acquire approximately 4 per cent. of Kentucky Oil and Gas plc through a subscription of £150,000 in cash for 3,333,333 new ordinary shares (being 4.5 pence per share) in KOG valuing KOG at approximately £3.77 million post investment.

[ryan83] 19/11/2014 10:09

well, they were going to buy into KOG plc, the last RNS alludes to other deals!

[share_cruise] 12/11/2014 14:02

any idea of the new investing strategy pending the disposal?

[ryan83] 31/10/2014 08:59

a few buys this morning!

[ryan83] 23/10/2014 18:40

update soon?

Capped at £1m

£174k cash at June 2014

Raised £400k at 3p (current sp)

Invested £150k in

hxxp://www.kogplc.com/#&panel1-1
[
for 4% of

The estimated cost of extraction, including the cost of power and transportation is estimated at $10 per barrel.

Based on the spot market value of crude in the Illinois Basin of $80.75 (April 2013) and on the assumption that there are no issues which impact on a successful extraction, the combined present value for primary recovery for P1 and F2 is estimated by KOG to be $136,629,770 ($24,765,025 P1 Corniferous; $111,864,745 F2 Corniferous and Salem-Warsaw).

The P1 Lease
P1(G1 Area) covers an area of approximately 50 hectares (120 acres) and is situated adjacent to an area with proven production where drilling had taken place in the 1980s and had hit wells producing a total of 415BPD. However in the 1980s the market price of oil was only $8 per barrel versus production costs of $12 per barrel; as a result the drilling companies were losing $1,640 per day which proved to be unsustainable and the wells were abandoned.

KOG has obtained a competent persons report ("CRP") which estimates reserves of 1,372,573 barrels for P1. The CRP was produced by Michael T May, PhD Registered Professional Geologist (KY 2342), and Professor of Geology in the Department of Geography and Geology at Western Kentucky University (CPR dated April 2013).

Today, at a conservative price of $80 per barrel, that 415 BPD production would yield approx. $33,200 per day or $1.3 million per month

so thats $15.6m revenue per year, $624,000 to SPR revenue, $546,000 profit to SPR (£333,000)
interestingly, KOG produce 300 BOPD already, the £150k from SPR is for a second well. If they can get 700 BOPD from the two wells thats almost £700k profit to SPR per annum.

Then they have around £400k in cash aswell.
only 33m shares

"A further announcement will be made in relation to the Company's proposed investment in KOG, setting out the full details required under Schedule 4 of the AIM Rules for Companies, following completion of the proposed investment."

That was 23 Sept
reminiscient of DOR going from 0.05p to 0.25p?

They also are to dispose of the current business >>>> how much for (if anything)?

NOte also

The Knox Formation
The Knox Formation is much deeper than both the Corniferous and Salem-Warsaw formations, starting at approx. 4,000 plus feet, and has the potential for massive production and has generated proven reserves further east but has never been tested in this area.

KOG is considering acquiring drilling rights in relation to the Knox Formation in the future.

The principals of KOG plc are veterans and

R C Rodgers has been joint owner, part owner and sole owner of projects including, the Olinger well which was the number one Murfreesboro well in the state of Kentucky for two years, the Block lease had high-rank

[hedgehog 100] 18/10/2014 20:32

Please note the following thread which may be of interest:

"THE REVERSE TAKEOVERS & SHELLS THREAD (RTO)"

[coolen] 08/10/2014 22:03

Despite recent issues, am I right in thinking the majority of the shares are tightly-held within "house" ?

Reminds me of the way Jim Slater used to get his house stocks flying.

[theshareguru] 08/10/2014 15:52

Note 1m buy today, looks like someone in know, this could be a multi bagger
in the making.

[the stigologist] 23/9/2014 15:45

tomboyb
17 Sep'14 - 16:20 - 329 of 358 0 0

Great thread it is -

Concha a £40million -

SPR - showing a bit of volume -

[juicin drumroll] 23/9/2014 15:25

More likely to be another MDC.

[theshareguru] 23/9/2014 15:02

Just bought in, this could another rose petroleum in the making !

[solarno lopez] 23/9/2014 11:48

the price says it all.

anyone looked at the KOG website ..well worth a look

[juicin drumroll] 23/9/2014 11:47

Anytime a Drummond brother gets involved with a company you are in it's time to sell.

[purple11] 23/9/2014 10:09

another hole in the ground milk job......yawwwwnnnnnnn

[solarno lopez] 29/8/2014 13:32

......That's I read it !!