BLACK ROCK OIL: CHARTS, RESEARCH AND DISCUSSION (moderated)

maxk - 27 Dec'06 - 18:35 - 4182 of 4190

It did say that it is [looking] to sell the Aussie and Paddy "assets", any idea's on what they could realise on these?
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ihavenoclue - 27 Dec'06 - 20:59 - 4183 of 4190

enamel ... i read the RNS as they were going to sell off the irish and Austrailian assets to concentrate on Columbia and the North Sea ,, i.e. sell them to pay for work needed on the two assets they are keeping therefore a further fund raising would not be required.

Did i read it wrong ?

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Maxk & ihavenoclue re [ looking ] to sell Aussie and Paddy "assets",

Ireland.

BLR said this

‘’Black Rock Oil & Gas PLC did not renew the expiring option in Ireland during the financial year, and will not renew the three remaining Irish options due to expire in October 2006.’’

Note .

Normally when you do not renew your '' expiring option'' you forfeit it so therefore I doubt if there is anything to sell.

Australia BLR said this

‘’Two licences in Australia have also been disposed of, and the intention is to dispose of the remaining two.’’

Note.

They did not say that they are ‘’[Looking] to sell’’ they say ‘’the intention is to dispose of the remaining two.’’

The Two licences in Australia that they have already disposed of went for ‘’0.8% royalty on any sales of hydrocarbons’’

The other two licences in Australia not yet disposed of may also go for a royalty on any sales of hydrocarbons so there may be no actual cash value.