For those who like them. I'm constantly doing projections, right now I think we have a monthly revenue of $1.1m, which almost exactly covers our overheads but leaves nothing for debt interest or extra investment in ops. So a cash injection to accelerate things makes sense. The CPR results are slow burn - worth nothing today. Hence I still feel they were done for the purposes of a farm out, but I think we will have a long wait. And forecasting the year end .... assuming varang starts and the re-fraccing starts. Both of which I do believe will happen, just slower than we'd like. So, with those and 7mcf from MK, top end says $5.5m per month, I expect near $3.5m per month. (annualised $42m ... over $20m profit pa) If SN swaps the RPNs for shares as I expect, and we end up with 4+billion shares, then a basic p/e makes them worth 3p each.
Will probably drift from here, can't see any significant news on the cards, also there's a good chance of more dilution later in the year.. They could have consolidation for a long term plan.They obviously don't have any time for shareholder value.. You can see why some large investors are selling up?
Ok so I've come down off the ceiling after my earlier rant this morning! I've also had the rest of the day to reflect on today's RNS and stayed mostly clear of the bb's to give me time to think? I apologise in advance if the said same thoughts I type have already been aired today and so here goes. I am sure SN will have expected the exact reaction he got to today's RNS - PI's up in arms and quite a few so peed off that they have given up and sold to the tune of 51+ Mill shares so far today! So could the timing of today's RNS after the "nothing but sunny days ahead" RNS we saw yesterday have been a well orchestrated exercise in shifting more shares from we PI to AN other? I imagine SN was expecting more to jump ship than actually has after today's news and still might over the coming days but hey someone is buying them up - so who? Will be interesting to see if we have a director buy announcement over the coming days/week? I get the feeling SN and his BoD are trying to strangle we PI's into submission, getting shares that have huge potential(long term) on the very cheap and quite possibly building a position of power by way of the collective shares they and "the well informed II" hold to do as they want in the future? I am sure the PR team will have briefed SN on the often discussed PI action group on the bb's and maybes just maybes he's trying to prevent this happening by striking first? I am probably talking ****** but who knows really what is going on? VW
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