The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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"there is a difference between .33 and 000.33 "
lol, actually they are the same, but just couldn't resist.
Seahawk
Yes they could raise, drill into the Ahpun topsets, score a great set of data, come back do a 10000 ft lateral and show the market a great flow. But then it would all have to be parked until they had production, refrigeration, reinjection wells and compressors.
It would be a lot of resting capital, they don't believe is needed, as the data has already shown what is there.
They are in a great position now, permitting is a slow process, they have begun. there is no point in spending capital in advance of it being able to give a return
Thanks tony, contingent resources stuck in the ground (Stranded) are valued at almost £0 till they are moved to P.
I stick to my guns here, grossly over inflated MCAP at this stage of the cycle and with no production.
11.21
Olderwiser,
I think we're all on the same page when it comes to the asset value and its potential. Both are fantastic and every RNS appears to be adding to that - wonderful!
I wholly agree with Seahawk though, that the missing element is securing the funds to get the stuff out of the ground; here we have a circular argument. We need more funds to do some more work in the short term to convince those who may ultimately be interested in backing the company, or buying it, to invest. So we need it now.
We now have gas an a 'potential' further revenue stream - one which was, hitherto a liability but now may 'potentially' add value. Again, all fantastic 'potential' - that word again.
The only way to turn that word into income is in capital invested, wheresoever it comes from and in whatever form, equity or debt. For the latter, and back to the circle, we need proof of the ability to get the stuff out of the ground and we need equity to leverage the debt.
I know this, to you and to most, will be statement of the blindingly obvious and I don't mean to demean, but it's a huge frustration - not just the 'get rich quick brigade'.
Hopefully, the business will soon find the investor. It needs to if it is not to lose credibility in its extending fundraising timeline.
Keep believing in the tooth fairy and the fairy godmother!
Here for the long term as a LTH.
Good luck.
cb
What you dont appear to understand is that there are multiple factors driving share price - here are some of the reasons EnQuest are trading at a relatively low market cap:
1) Over $400m in debt - thats more than its market cap and high !
2) Nearly $700m in decommissioning liabilities - that's around 2x its market cap and extremely high.
3) Operations primarily in the UK - high taxes and lower profit margins than many other regions in the world
4) 11 years of reserves - not bad but not great either
Reasons for PANR's valuation - I think it has around 2B barrels in contingent resources which are set to grow significantly. No reserves yet and still a few question marks - but if they execute on their plans - they will be orders of magnitude bigger than EnQuest - its not all about BOEPD - valuations take into account resources / potential reserves.
Still waiting for your explanation ....there is a difference between .33 and 000.33 but you cannot explain that as you think they are the same you TIN HAT... Just check your posts
No worries HOPE you do well here .JUST my thoughts on calcs and time to first big production
No money left.
Yes, it's just way out of whack of anything reasonable. Do you not agree about the valuation?
Olderwiser I honestly get all that you say, but it has now been 2.5 years since we were last out at Kodiak where I believe we need to show we can get it out of the ground in good amounts. That concrete mistake has cost us dearly.
The BOD constantly bang on about being in the right location by the road and pipeline yet to me we do not seem to making the most of it. Raising 20M to have drilled this summer would have been easy and quite meaningless in terms of the number of shares in issue.
GGG - your a scum bag. You should be plugging DELT on its own BB. You do this all the time plugging your latest stock on other forums - as I said - scum bag !
SAS
Would you be the co pilot they rescued from the mangrove swaps, or the one from the troughsnout district
I SAID that for a long time cp
We all knew it to begin with, the difference is none of us lot cared until they started rubbing their SP in our face at 88.
Now the tables are turning and they can't hack it over here
Karma is a B
Cperkin
Really
No short, just an observation on the mcap.
Finally realised how much of a donkey you made of yourself eh?
Took you long enough!!!
Cperkin
Would co pilot be a very short Chappy
Muppet .........you still cannot explain so run along Bwoy.........
Seahawk
Post discovery, the first step is prove the viability and economics of the fields
Achieving that for a minimum of dilution is in a fundamental investors interests. I would far rather spend a little more time, than spend a lot more money.
Getting a discovery into production by the end of 2026, is lighting fast for Alaska
Thanks OW, I will let copilot know ;)
So Zero production and a MCAP of £339.45m. I wonder where they got the 505 from?
You raise good points Olderwiser but BOD need to explain in simple language what that all means to PI and they didn't. Great we have tons of oil in Kodiak, but then in the next breath no drilling this summer and drilling this winter waiting on finance. People on AIM are after the quick buck and all this is looking years away to them. Thus its important to keep things happening on the ground eg drills. The next reports due might produce a blip again if there is more oil. To be frank we have more than enough oil, that's not the problem. We need to prove we can get it out of the ground in large amounts and earn some money. We now have a load of people on the books who are doing what at the moment?
Yes I am frustrated, not with the SP as I am in for the long run, but we are inching forward when we have the ability to drill year round.
Cperkin
You have that wrong, PANR current is zero bopd
But the plan is 200,000 bopd all for kick start of $120m
Are you being serious? You honestly think I'm over here returning the favour (from my dear friends) after buying PANTHEON at 0.0033?
You're so silly 🤣
For example In 2023, EnQuest achieved an average daily production of 43,812 barrels of oil equivalent per day. MCAP £301.76m
Pantheon 505 barrels of oil equivalent per day MCAP£339.45m
Union Jack Oil production exceeds PANR and it's MCAP is £22.38m
Quite frankly PANR is at a ridiculous valuation.