RE:RE:3.1 MILLION Shares WTF
Why do you care what I can afford or not ...do feel like a Big man that you can afford lots and assume I cant.....? But lookie lookie what the Samsung and the boyz are talking about now.... as if they where the first to have this original thought....now the GANGS ALL jazzed AN OFFSHORE ACQUISITION might be in the works ...lol https://www.investorvillage.com/smbd.asp?mb=12706&mn=7980&pt=msg&mid=13404895 This is about MRP, that had a very similar arrangement as Mart. One difference, MRP fell flat on their face and are in default on their contract with the field operators. Mart could step right in here, and probably with no money down. Maybe way out there, but just a thought. Note; " the potential for more than 110 mil.bbl " of resources ------------------------------------------------------------------------------- First Targeted Acquisition | OML 14 ‐ Tom Shot Bank Field •OML 14 was originally held by Shell and was declared as a Marginal Field under the Petroleum Amendment Act 23 (1996). •Tom Shot Bank was awarded to Associated Oil & Gas (51% & Operator) and Dansaki Petroleum (49%) in 2003. •In 2004, the Award Clarification Letter clarified the award, terms and confirmed Associated Oil & Gas as the Operator of the Field. •Discovery well TSB #1 drilled in 1980 by Shell ‐ tested five gas zones and four oil zones and was temporarily suspended. •TSB #1 reported 425 gross feet of hydrocarbon pay including 83 net feet of oil and 57 net feet of gas proven pay, plus another possible 111 net feet of oil and 29 net feet of gas pay. •TSB #2 drilled in 1989 by Shell ‐ encountered the upper 5 gas zones, but crossed a major fault and missed the underlying oil bearing structure. The well was then plugged, and Shell relinquished the concession. •Gross contingent resources-contingent subject to re-drilling verification-of 8.7 million barrels of oil have been assigned to this discovery, with prospective resources already show the potential for more than 110 mil.bbl. •The block has water depths between 5 and 15m and an area of approximately 25 Km2. •The block is covered by a large regional 3D seismic survey which was reprocessed to a PSDM in 2008. Tom Shot Bank | Acquisition Terms •Share Purchase Agreement and Tri‐Partite Joint Operating Agreement executed on November 18, 2010. •Closing to be subsequent to TSXV approval and concurrent with closing of equity financing. •Mira has aquired 48% Equity Interest, and 54% net project interest. •Mira has paid Equinox $1.8mm in past costs of which $1.5mm is cost recoverable. •$2.5mm bonus payable in common shares upon closing at equity financing price. •Capital and operating expenditures are recovered at 125% through production. •Mira will fund 100% of the capital and operating expenditures. •Mira will act as the technical service operator. •$2mm bonus payable on first production ‐ $1mm payable in cash or stock at sellers option and $1mm payable in cash or stock at Mira's option. •$2mm bonus payable at cumulative production of 1mmbbl ‐ $1mm payable in cash or stock at sellers option and $1mm payable in cash or stock at Mira's option. •All share payments based on prior 10 day weighted average share price at the time of milestone. Tom Shot Bank | Schematic Location of Field •OML 114 is due north of Addax Petroleum's OML 123 which is currently producing approximately 50,000 BOPD. •Ebok Marginal Field, which is operated by AfrenPLC, originally had an estimated 20 mmbbl of oil in place and is now reported to contain in excess of 102 mmbbl of recoverable reserves (www.afren.com). •The block is adjacent to OML 114 which is operated by indigenous producer Moni Pulo Ltd. which contains the Abana field which has estimated ultimate recoverable reserves of 55 mmbbl and greater than 1 tcf (www.monipulo.com).