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on the second video, Keith Hill says the Iraq government is only getting 1.50 per barrel of oil royalty...dam anybody know what company is paying them that?? they must be making a fortune!!
what about horn?...any news have not heard the presentation yet getting ready to listen now
from the proverbial horses mouth: We are raising up to $15 million. $9.25 million of that will go to fund the acquisition of assets from Origin, and the rest will go into working capital for drilling and development and general corporate purposes.
Regards,
Rhylin Bailie
Vice President, Communications & Investor Relations
New Zealand Energy Corp.
Direct: 604-630-9661
Mobile: 604-219-2824
so does that mean no royalties for origin?..or reduced royalties?...not sure will have to find out
well I agree Red that's why I doubled down today...dollar for dollar, think this has a larger potential for percentage increase than my AOIFF shares...like you said, the risk to reward ratio on this looks good...I think the market over-reacted today to dilution which I believe was already priced in...not sure if the dilution is for Origin blocks though I thought royalties were going to take care of that?...did they decide to buy royalty rights back or is the financing for drilling?
in at .34 bought more today dropped because of dilution announcement no doubt but I believe that was already factored in...price to book value now around .54 will now be close to .75 if all warrants are exercised...
red is it ok to ask how many shares and at what price you got in?
I hope u are right red lundin would make a good financing partner!
hey red! I think its worthy of risk..bought 5000 shares myself at .33 a few days ago...not as big as AOIFF but a great entry point at less than face value..check out lightstream resources also selling near low...AND gives monthly dividend!
thanks tamtam! VERY creative financing for origin blocks perhaps not ideal but no dilution or loan!...now if they can get production costs down...looks like this horse has a chance to run!!
jumped in today seems a good gamble for the risk!
I jumped in today for 7.10 a thousand shares...get a nice monthly dividend while I am waiting to sell SWEET!
not sure what u mean by verified,but they are producing some oil...I have already laid out the negatives hence the low price...but I do know several institutions own shares another good jump in is LSTMF near all time low and pays a healthy monthly dividend to boot!...also owned by several institutions was hoping for a quick sell on either one to buy more AOIFF when they dilute to finance more drilling....HORN got plently but that's probably a 5-10 year hold to be realistic
the casey report gives these clues in teaser:
southern hemisphere
2 million acres
one of the directors owns 1,235,000 shares AND is an officer of a Canadian company...
gotta be new Zealand energy nothing else matches (that I know of)
I jumped in...own plenty of AOIFF HPMCF so thought it was a good gamble IF they can get production costs down
did a little more research...it IS almost without a doubt New Zealand Energy the question is when to jump in?...I am worried they may have some dilution coming so I am thinking of waiting to see how they get the 6 million to purchase the Origin acerage...perhaps it is already factored in? not sure
and of course there is the high production costs problem...I have read they were renting pumps and that may be a part of it but not all of it...total costs were close to 78.00 USD per barrel last quarter not too good
red I think you are asking about the "next bakken" mentioned in the last paragraph of the casey energy report?..it may be New Zealand Energy and/or Tag oil...New Zealand Energy has a few problems right now:
1) high production costs (about 74.00 bucks a barrel PLUS a 5% royalty to the government)...
2)well outputs decreasing at a rapid rate
3)they have until sept 30 to get financing in order (6 million) to purchase rights to Origin oil blocks...perhaps partly by dilution?...I do not know
because of these factors,been kicked down to 30 cent range they are reportedly working on getting production costs down and if they can avoid dilution might be a good entry point...I am thinking of waiting to see how financing goes (in case of dilution) before jumping in
high production costs
from what I have read,it is costing NZERF 73.62 USD per barrel to produce PLUS a 5% royalty to the New Zealand govt which comes out to 22.46 per barrel profit IF oil is selling at 100.96 a barrel average...I have read that due to high production rates in north America,average price per barrel is set to fall to around the 86.00 dollar range in 2014...which means 8.00 USD profit per barrel if everything else stays the same this company is finished UNLESS they can bring down production costs I may buy on a dip in the hope of lower production costs/their new blocks pay out
]
according to MSN institutional report on AOIFF the latest info shows 24 sellers sold 1,039,099 shares and 28 buyers bought 4,738,888 shares:
http://investing.money.msn.com/investments/institutional-ownership?symbol=aoiff&
as far as the acquisition goes IF they do indeed go the dilution route do you people on this board believe that is already priced in or there will be a further drop in stock price?
I agree with what the first guy said that it could be insiders selling on not so good news..not necessarily bad news but not so great news..i am long am hope I am wrong,but I have seen it twice already on this stock..the most blatant being the drop from 11 right before dilution announcement..if it happens again it will be the third time hope I am wrong
AS SOON AS i READ "mostly nigerian owned"....thats enough for me to stay away....unfortunately,the kenyan government appears to be getting greedy...not sure if this new tax applies to new AOIFF partners or not?: http://www.bloomberg.com/news/2013-06-07/kenya-s-claim-on-cove-energy-proceeds-is-unjustified-blaha-says.html?cmpid=yhoo
AIOFF MUST have partners to produce oil are they gonna be charged tax on bringing in partners or only if the sell exploration rights outright?....and if they sell more shares to raise income?
heard a new round of financing or share offerings are coming was the date 2014?...anybody know?....
do any institutions own this?
BOUGHT A FEW thousand under .20 figure its a good risk....reading more and more about somolia on the political front as well as many nations sending military there....
hope you guys are right have not forgot the last sell off at 11.00 before the offering and dilution wish i had sold at 11.00
well with the drop in price,it appears insiders have advance knowledge of bad news - AGAIN
According to yahoo,the historical price of this stock (when it was CMX) was .10 cents!!!! I think that was 1997
HEY Douginil...how did you arrive at 1.00 base?...AOI.V was Canmex Minerals until August 2007 was trading at 6.00 - 7.00 at that time...but using a 1.00 base and an average of 9 years we are looking at 2016 and 32.00 which should be the low end cosidering this is one of the biggest lundin finds from what i have read...not sure what the original stock CMX sold for in 1983 before the 5 to 1 reverse split in 1999 but 1.00 is a good base considering many warrants sold for a little over 1.00
n 92 this stock was .10 cents,but it was another company at that time I think...canmex metals??...anyway,going by the AOIFF price (which was ALWAYS AOC) it started at .84 cents so an average of 32 x would be 26.88..OR 3.20 if you go by the lowest price of AOI (.10) or 67.20 going by the earliest price of AOI I can find on yahoo which is 2.10 on august 8 1996...I think .84 cents is a good start point and from what I have read,this is one of their biggest so 30.00 is not an unrealistic expectation and with an average of lets say 10 years to pay off we are looking at around 2017 (Canmex minerals became AOC in 2007)....(AOI.V price was around 6.00-7.00 in august 2007 which would be 208.00)
i mentions Taipan resources anybody like them?
I agree red I thought it would be new terms on NEW claims...but the Canaccord statement clearly says "EXISTING contracts" wonder what they are talking about?????
Africa Oil Corp : Canaccord Genuity cuts price target to C$8 from C$13.50 citing potentially negative catalysts relating to well results, flow tests, elections in Kenya, and potential changes to existing contracts.
WELL as regards the elections I can understand concern when I see videos of people killing and burning a kitten to avert some sort of witchcraft in connection with elections (what century is this anyway)
but I do NOT understand what changes to existing contracts they are talking about???????
seems like everyone over there is licking their chops hoping for a cut....but some do not seem to understand that tullow and partners are SPENDING money and do not make a dime until production starts,which is a few years away.....so they too must wait or there will be no money left for production
This seems fair and makes me think Horn claims are still safe and if they overlap older claims then new blocks will be issued to the old holders...am I reading that right?
LONDON Oct 2 (Reuters) - Somalia, hoping to share in East Africa’s oil and gas boom, has invited back international oil companies that held exploration licences before civil war broke out two decades ago, an adviser to the government said.
Abdullahi Haider, a senior adviser to Somalia’s Ministry of Energy, said the country would honour contracts signed prior to 1991 with oil majors including Royal Dutch Shell, BP and Chevron.
“They will be given priority,” Haider said of the companies that had signed exploration deals before the conflict.
Somalia will offer onshore and offshore exploration blocks to companies in a licencing round early next year, Haider added, a process that would enable new companies to come to the country as well as those with permits from the 1980s.
“I’ve seen so many people who are very much interested like Shell, like Chevron. I’ve met them here and they expressed very high interest,” he said in an interview on the sidelines of a conference in London on Tuesday.
The government had sent a letter to the companies inviting them to come and negotiate on new contract terms, he added.
Somalia inaugurated a new president in mid-September in the first such ceremony for over 20 years, prompting hopes that it had turned a corner after a regionally-brokered, United Nations-backed effort to end fighting in which tens of thousands of people were killed.
The country hopes exploration by major oil companies will enable it to participate in the excitement over a string of discoveries in East Africa that have aroused expectations the region will become an important energy supplier.
Should companies choose to return, they will negotiate with the government over converting the old royalty-based contracts into production sharing agreements.
Any companies that signed oil exploration deals after 1991 could negotiate but would not be given priority, he said.
Somalia also hopes to resolve a maritime border dispute with its southern neighbour, Kenya.
The disagreement between the two has threatened to upend some exploration rights that Kenya has granted to oil and gas companies including France’s Total and Texas-based Anadarko.
“This dispute can be regulated in a friendly way,” Haider said.
Read more at http://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=31965048&l=0&r=0&s=hrn&t=list#mkVwXfoJ11imbRqr.99
AS far as strike,I would think conditions may improve but I cannot see tullow raising wages before oil is flowing....
[b I read Somalia will honor past claims before oil companies left due to unrest in 80's OR 90's....my question is this: do horns claims overlap previous oil companies claims that may still be honored????]
I read Somalia will honor past claims before oil companies left due to unrest in 80's and 90's....my question is this: do horns claims overlap previous oil companies claims that may still be honored????
I was wondering if Horn's claims will still be valid considering this: In a recent meeting, the Minister of Resources said, “Given that the security condition of the country is improving at a rapid speed and the presence of legitimate transparent government, companies of the past and the new ones are all welcome. Somalia will be open for business sometime in 2013 and we honour the agreements of the companies who filed “force majeure” and left the country due to the civil war.
so is horn's claims completely new or are they overlapping previous claims????
christmas shmismas! when is this dog gonna start making money so I can start binge drinking 100 dollar scotch and trade my fat ass girlfriends in for trophy wives???
I agree with what other people said that video did not exactly show a gusher but then again who knows if it is coming out of a closed down gate valve...but the oil is there
so 10.79 to 6.32 in less than three weeks?????? whats wrong????