$206 million loan facility that is free from any equity backing when you already have well over $100 million in the bank and are generating $6 million per month net profit? What could you possibly be spending that sort of money on? Totalled up they probably have over $330 million available to spend, but on what?
Current SP reveals quite a lot. End of year results will be published next month. Net cash position of $85 million as of Aug 2017. Generating $3.7 million per month net profit with average $28 per barrel export price. If we assume $50 average oil price since, we can guess a $5 million per month net profit. If we assume they haven't drilled anything (production has fallen), that is 8 months at $5 million including April 2017, producing a cash balance of $125 million.
Yes, there are many interesting articles. There isn't any evidence that the Khotins actually exist, or if they do, that they are anything other than employed stooges who act as cover for the real owner. Exillon management are interconnected to the those who hold the majors shareholding, some suggesting one of those in a senior position is actually the real major shareholder themselves. The fact that Urga bank holds all the companies cash and is in itself a fraud (owned by Khotin) , one has to… Read More
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.