Depressing H1 results. None of the claimed 30 or so wells have come to fruition, just the one producer. None of the wells from last year have been fracked either. Running production down every month, should be looking at 11k to 12k bpd by end of year. No information about strategy, just another Khotin hatchet job.
Rising 3% - 5% everyday on very large volumes and very tight spreads. No RNS regarding changes to existing major holdings, so one must assume this is being traded up by independents via the free float.
Currently EXI has a $180 million market capitalisation. It will, by the end of June (H1), have a $100 million net cash position. So even with the latest 25% increase in SP, the current valuation of EXI assets is $80 million or 35p share price. That is approximately $0.16 per 2P barrel reserves (500 million barrels 2P). Recent sales in Russia have been $2 to $3 per 2P barrel reserves. So the valuations of comparable Russian oil companies is 15 times higher than EXI. This is made even more… 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.