IvestorOl
03 Sep 2015
V.quiet as expected Afternoon all. No surprise it's fairly quiet here after the recent let down, but has anyone got any idea of timeframes for future activities etc? I understand there is still cash in the bank for further ventures. It would be nice to contemplate recouping some paper losses at some point! GL all.
podgy1
24 Aug 2015
Well someone see Value 2 chunky buys increasing their stake.
IvestorOl
24 Aug 2015
RNS Clearly still some buyers out there somewhere!
IvestorOl
23 Aug 2015
Bit of a shame Was hoping to be sitting here today looking back on a much better result. Still, onwards and upwards (hopefully!) Has anyone got any idea re; timeframes for other activities etc? The few million in the bank offers a few options, hopefully not a long way off. GL all.
guyswonga74
19 Aug 2015
Asx 13% up
goldielockandthethreebears
19 Aug 2015
Re: goldielock & akaDolly OilmanEncouraging that the gas came in as per prognosis. I believe the well location was chosen both to test Hawkeye for oil and also to test if there was the expected gas cap. That being the case I eagerly await the release of their assessment of the result on the carbonate prospects.
Oilman77
19 Aug 2015
goldielock & akaDolly Goldielock some info if you not read it already on other board. Question :Was the small size of the gas cap at Hawkeye such that it was never considered as a commercial prospect.xxxxxI am not sure that your logic works. Based on the 3D seismic data, we have enough information to determine the size of the gas cap at Hawkeye. The well has come in close to prognosis at the location drilled, the gas will always be too small at Hawkeye to be economic. The only basis that Hawkeye would work would be on the basis of an oil prospect.Kind RegardsMatthew AllenManaging Director and CEOOtto Energyfollow up to other question "We will need to incorporate the results from the Hawkeye well into our understanding of the carbonate prospects now before we can conclude whether they are de-risked. The fact that we have identified hydrocarbons in the Hawkeye location confirms the presence of an active charge system in the area"Matthew Allen ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ----akaDolly article for you.Forbes Article Whatever Is Behind China's Spratly Island Showdown, It Isn't Drilling For OilMay 27, 2015Christopher Helman.China is building airbases in the Spratly Islands of the South China Sea, dredging sand and dirt to create 2,000 acres of land where little more than rocky reefs existed before. Its biggest project is on Mischief Island, which sits less than 150 miles off the Philippines’ Palawan Island but is 600 miles from China’s own Hainan Island. Like virtually all the of the Spratlys, Mischief is claimed by more than one country. China says it owns them all. The United States objects.China is ratcheting up the tension in the Spratlys. China’s nationalist, Communist Party-controlled Global Times tabloid wrote this week that war between China and the United States would be “inevitable” if Washington continued to insist that Beijing stop its construction project. Yesterday China’s ambassador to Australia wrote an opinion piece for The West Australian newspaper that asserted China’s “indisputable sovereignty” over the islands.All this over a bunch of islands? It sounds crazy. Why should we even care about the Spratly Islands?The 35 islands and hundreds more reefs and guano-covered rocks are spread across an area the size of California but comprise less land area than San Francisco. The Chinese and Vietnamese think there might be great bonanzas of oil and gas there. The U.S. Energy Information Administration thinks the chance of that is roughly zero.Indeed the Spratlys are not important for any oil and gas under them — but rather because of the oil and gas (and everything else under the sun) that floats past them. More than half of world maritime trade passes through the South China Sea, with the world’s busiest shipping lane passing right by the Spratlys. That includes billions of barrels of oil a year and hundreds of billions of cubic feet worth of liquefied natural gas. Control this flow and you control the energy security of Asia.This week Beijing made the unprecedented admission that its construction project in the Spratly Islands is part of a military strategy that includes the extension of its naval strength beyond the mainland and into the open seas. China criticized the U.S. for “meddling” in the South China Sea and on Monday complained about a U.S. recon flight over the Spratlys.A Pentagon spokesman defended U.S. movements there, reportedly saying: “All of our flights and all of our ship movements are through international airspace and international waters,” said Col. Steve Warren. “This is part of our mission to defend freedom of navigation.”[link]
akaDolly
18 Aug 2015
High Impact drill on Gove behalf? Looking at the maps it would seem this drill was more about testing the security of the region. The 'high impact' drill was perhaps more to do with lets drill and see what happens with security. Just as the Puntland drills were 'high impact' for the same reason, lets see if we can do it without any issuesDoesnt seem to matter that it is well within Phillipine zoneThere have been a couple of other oil EP companies pulled out because of the dispute[link]
goldielockandthethreebears
18 Aug 2015
Re: of no importance "Phillipines wasnt wildcat, it was high risk in as much as they were not going for the 'best' zone. It was drilled at that spot for a reason"I agree with that statement. It appears from what has been said in RNS so far that it demonstrated SC55 is hydrocarbon bearing, both gas and oil. Unless I am mistaken RMP are farmed in to the whole SC55 block. They also raised s good chunk of capital prior to the drill on the positive sentiment that was there at the time. I could be wrong but I suspect that plans will be being drawn up to drill Cinco. OK, it will take quite a few months before this can happen, but I think (only my personal view) that Hawkeye has significantly derisked the Cinco prospect.The oil leg was not as good as hoped for, but then again the chances of this were only 27%. It was stated that they expected about 80% chance of encountering gas above the oil leg. They did indeed encounter gas which was not the primary target in that they did not expect a commercial gas reservoir at this location. Nonetheless, the gas interval was 14 m deep (deeper than the oil leg) and of better reservoir quality. I am no geologist but this suggests to me that they have proven there is a regional seal in place, there is gas (oil too) and Cinco is not very far away. As with so many things, time will tell. I am hopeful that Cinco will be drilled in the not too distant future.
akaDolly
18 Aug 2015
Re: of no importance >So no problem here. If we had struck oil and wanted to sell the field to a developer then RMP would just sell the subsidiary and so exchange the oil for another form of value ( cash, shares royalties etc) RMP would not lose any value. and itself would continue to operate in its own name.Thanks for the explanation, I see the logic nowI watched the video of GB again. He really does come across as genuine. It's hard to take the dissapointment when everyone seemed so confident. All the data and seismics, it is really hard to believe. I can appreciate the oil may not have been commercial at todays oil price, but the RNS states the numbers came in at the bottom end of expectations anywayI looked at the director list of OTTO, couple of names there that link GB to other companies. Ian Macliver being the one that jumps out (Grange Consulting, Max Capital, Range Resources and a whole host of others) The only thing I could take from that is the fact that those contacts will be pulling the strings, finding the deals and using a popular known company like RMP for fund raising,Now does that come in as a positve or negative. Short term it has to be positive, RMP still has a future for a fund raising vessel. Problem there now is the continual dilution that will be necessary. LTH's are already being pushed out. That of course would be the mainstay of the salesman around this stock. Still plenty of folk to be encouraged to keep buying on promises. It will only stay popular of course if it can deliver something. The 'team' jumped quickly last year, on dissent, to allocate GB the position of MD. No voting him out an AGM/EGM. He wont stay popular for ever though with this sort of recordFailure on Puntland with RRL directors, failure with Otto, and looks to be failure with Georgia and Strait Oil directors. Who is doing the picking here, GB picking a motley crew or the motley crew picking GBThe 'team' seem to be throwing stuff at RMP so that RMP can raise the funds for all these good causes Puntland, Phillipines, Georgia, Phillipines wasnt wildcat, it was high risk in as much as they were not going for the 'best' zone. It was drilled at that spot for a reason. Like I say, who is running the show [link]
Shareshopper1
18 Aug 2015
Re: Any future? Pretty much sums it up really. GB at least seems to be able to keep this company afloat with modes amounts of cash until the next deal without any 'Pete the pirate' urges to shaft us.Some people will have run out of patience and decide to sell and mm will take advantage of this. I'll be surprised if this isn't back to the usual 1.2p in a month or two.If you're not interested in giving your shares away then this is all white noise imo.atb
f1nants
18 Aug 2015
Re: Any future? For three years the sp has averaged 3p. There is no reason for the price to now be about 1p. short term confidence has evaporated and some are getting out and I think the next 2 months are positively the wrong time to do so. massively oversold.
f1nants
18 Aug 2015
Re: of no importance It is a common ploy to float a company to exploit a particular strategy. The purpose is to limit liability and also if successful easy to sell.Shareholders of the holding company have no say so in the setting up or selling of a company asset, a subsidiary; it is therefore essential that investors look at the quality of management and trust them.The shareholders appoint the directors and in the event of dissatisfaction can call a meeting to have them replaced (EGM).So no problem here. If we had struck oil and wanted to sell the field to a developer then RMP would just sell the subsidiary and so exchange the oil for another form of value ( cash, shares royalties etc) RMP would not lose any value. and itself would continue to operate in its own name.It is not normal for a company to explain strategy to the shareholders any more than they would release details of the legal framework. The investor needs to know that this is the nature of the investment. As food for thought guess how many subsidiaries Apple has got?
IvestorOl
18 Aug 2015
Re: Any future? I'm almost hoping now that it goes so low I can just avg down to virtually nothing and take advantage of any slight positive sentiment to exit in the mid-long term. Thankfully not massively invested in here so only a smal(ish) amount of capital required to do this. If they still have a few million in the bank there is scope for some future activity, although I doubt there will be a huge amount of faith in its success. As always, DYOR and GL all.
Oilman77
18 Aug 2015
Plugged & abandoned Final disclosure report
hilippines DOE Daily Drilling Report Hawkeye issued 17th Aug 2015 10.26 am local[link]
