Absolutely cracking post there bud at 15:35, so glad you took the time to turn around the old tosh Nobull is spinning - and supported by the other w@nker Dongle!! News is most deffo due now the "gruesome twosome" have turned up here again - whether that news is later today, tomorrow or next week(s) I personally couldn't give a jot as it will turn up when ready :) Thanks once again and I'm sure I speak for all the other long term holders here :)) ATVB. VW :)
Thanks to you I have managed to buy millions of these shares around 0.5 to 0.7p currently up well over 100% + since your deramping days. I hope other investers didnt listen to you then? Are you still going on about the board of directors and bankruptcy? Lol It must have been tempting for you to sell at 1.84p? Unless you are expecting it to go higher??
Haven't heard from you for a while. Just interested to know if your holding is still "very small" as you have indicated in the recent past.
As I write this I say to myself stop, but somehow I can't. Anyway re the debt I think all long term holders understand the point you make - it has been repeated often enough. I think they also understand the run rates in debt repayment that need to be achieved by August 2016 (still 17 months away). I will await the RNS for confirmation but the following allows me to sleep at night for the time being:
- FRR operational costs are circa $13 mn per annum - and will not vary that much with increases in production. - we already deliver around $6 mn from oil. Allowing for drop in oil price say $6 mn in lead up to August 2016. - a 7 mcfpd pipe, allowing for downtime, should comfortably deliver annualised income in the $15-20 mn per annum once at this level. Say a really safe $20 mn in the lead up to August 2016 - there is no point in doing Varang unless it is to increase revenues, and of course FRR do not incur any operational costs here. To be really safe say Varang delivers 300,000 b in the first full year, and take a really pessimistic view on price. Say a really conservative $10 mn pre August 2016. - there may be some fraccing income - there may be some great assets to value
Now even if all this doesn't materialise I would say that by 2016 the debt is both reduced by at least around $20 mm, and hence very and manageable. Others will scream at me for my ultra cautious valuations here
All we need is an RNS to prove it, but your constant carping about booting SN out is not in my view helpful - and hardly shared by any other poster at this point. And the real value here is crystallising the asset - which I would suggest is pretty dependent on SN being around to do it.
is a long,long way from here.The,up to 18 TCF,CPR should be out before then. It has also been posted before,our current M/CAP is just too small to attract the markets attention. That could change-quite quickly. 99 H.
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