I agree tom, we need some news, which IMO is overdue and should come any day now.
Cramer is no better or worse than most traders, but you're very wrong on one thing, thousands if not millions of people take him very serious.
the street also rated MPET a sell, and I made almost 70% on that one. Bought some of it back on the recent pull back. As for DEJ I will sell 25-50% starting at .45 cents
LONDON (Alliance News) - Horse Hill Developments Ltd, a joint venture company set up to develop the Horse Hill well and PEDL 137 licence in the UK's Weald basin and owned by several AIM-listed companies, said Monday that it received key approvals and consents for the development of the project last week.
Co-investors in Horse Hill Developments are Alba Mineral Resources PLC, Regency Mines PLC, Angus Energy Ltd, Solo Oil PLC, Doriemus PLC, Stellar Resources PLC and UK Oil & Gas Investments PLC.
The Horse Hill group said the UK Department of Energy and Climate Change gave it formal notification on Thursday last week that the Secretary of State has granted the transfer and apportionment of rights of 65% of licence PEDL 137 from Magellan Petroleum Ltd to the company.
The DECC also informed the group that the Secretary of State has granted approval for the appointment of Horse Hill Developments as exploration operator of Licence PEDL 137.
The group said the new approvals are valid until October 17 and enable Horse Hill Developments to meet its obligations with Magellan Petroleum, which holds the other 35% of the site, to drill the Horse Hill-1 well on the licence.
The Horse Hill-1 well is proposed to have a total depth of 8,512 feet and is targeting a number of conventional stacked oil and gas targets.
"The site construction works are progressing to plan and we look forward to spudding the Horse Hill-1 well," David Lenigas said in a statement. Lenigas is chairman of UK Oil & Gas Investments, Stellar Resources and Solo Oil.
UKOG has conditionally agreed to acquire Northern Petroleum UK’s production and exploration oil and gas licence interests in the Weald Basin.
The assets will be acquired for a total consideration of £1.5 million. Further amounts up to a maximum of £50,000 may be payable in respect of net working capital of the investment.
NOP's UK oil and gas licence interests comprise:
A 10% and 5% working interest in the producing Horndean and Avington Oilfields, respectively, in the Weald Basin, both of which are operated by IGas Energy
A 50% interest in two further exploration licences in the Weald Basin
A 65% interest in the offshore licence P1916 which flanks the western part of the Isle of Wight.
In the year ended 31 December 2013, the investment's average daily share of production amounted to approximately 20 barrels of oil and turnover and gross profit amounted to #$%$591,000 and #$%$345,000 respectively.
David Lenigas, the Company's Chairman, commented: "This is a significant new investment for UKOG, as we continue to grow our presence in the UK and provides UKOG with a direct interest in oil production. We look forward to working with IGas, the operator of the Horndean and Avington licences. These new assets complement UKOG's existing Weald Basin investments in the producing Lidsey and Brockham Oil Fields and the prospective Horse Hill-1 well."
carson, are you saying little fella AVI, is a little slow to admit he was wrong again and investors of MPET made over a 100% gain?
A : 18 cents
Any more questions, feel free to ask.
TRF123, True 25% WI, but Dejour is fully carried for its 25% working interest through the first US$16 million in expenditures for the Kokopelli Project.