Hot on the success of our major Horse Hill oil discovery scoop I see that some over on ShareProphets have their nose out of joint by the scoop and what a tremendous scoop that was. Let’s get one or two things straight. We here do not tell people to buy, sell or hold shares unlike “Other” financial sites and we here are not paid by companies for articles or presentations. Unlike “Other” financial sites. We are totally independent & dependent on ourselves.
I reported yesterday that our research & sources (who by the way do not work for any of the company’s involved with the drill or are in any way whatsoever regulated) had come up with the oil discovery in the Portland news, with numbers between 15-20 million barrels OIP. Ben T from SP, points out that as yet it’s not “a commercial discovery” but in reality it is a commercial discovery in all but name. It awaits the rubber stamp. Ben needs to check out producing Portland assets in the Weald Basin. Some have far less than 200,000 barrels let alone millions of barrels.
Today we get the news as foretold, that the Company, who are better placed than my sources, confirmed that they had “A preliminary most likely estimate of 3.1 million barrels (“mmbbl”) of gross in place hydrocarbon volume has been calculated within the upper Portland, with a further gross unrisked in place prospective hydrocarbon volume of 16.8 mmbbl of oil in a separate lower sand in the Portland interval located in an untested fault block to the south.” – Now forgive me for not actually getting the exact oil split on Discovery, OIP & Unrisked volume. We are constantly beavering away working our magic on a number of shares. Unless we get into the meetings and write the RNS’s we would never get this sort of detailed inside information.
As for Ben’s conclusion that sic “this significantly strengthens the view that he was passed this information by someone who knew the real figures. Dan certainly didn’t make the figures up and in his position I would have rushed to publish such hot news” – I raise a wry smile. I bet you would.
As with our proclaimed ethos here on the worlds most controversial libellous financial site. We get the news, we publish it. It is up to each and every one to take responsibility for their decisions on it or not as the case may be!
Well done to all of the BMD Guerrilla Investors on the ground at Horse Hill, who assisted in getting the news.
Investors 1 -0 City