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In the process of scaling in.
Raised £15m at 1.75p summer last year. Still have £13.3m cash in kitty as of last month. Have farmed out to Shell with decision due on Selene licence due this month...
nice preso https://www.youtube.com/watch?v=4Ptx37oxr9k
There was a decision due last month as well.
delayed due to covid19, but doesn't change the investment case here. Looks better than its ever been, Trading sub cash with potential game changing farm out decisions due.
Covid19 is a temporary problem, this will get chased hard in due course.
You forgot he O & G awards which are imminent. I think they will get a few due to their cash reserves.
Farm out is delayed
Can’t buy. Only NO
If it was delayed because of cv19 Shell was cutting it very fine in the first place EB. If that’s delayed all subsequent news will be as well so I wouldn’t expect anything on here anytime soon.
trading 25% sub cash so there isn't downside here. Easy pickings to tuck up and wait
There isn’t a downside
Be very careful what you say
haven't checked elsewhere, data on LSE these passed days have been very inaccurate.
cash commitments are only if the farm in execute. If not then we are still trading sub cash with low cash burn. 0.96p per share in cash, in any liquidation event we would get back 0.96p per share which is more than current SP.
Risk v reward here is about as good as it gets, upside comes on Shell executing their farm in and carrying a big proportion of us on a number of drills, Selene being the first
Fairdealer20 I can confirm that data inaccurate. Share trade on here at 15.02 shows a sale of 1130000. This was in fact a buy.
It makes no odds
Cluff Natural Resources need to be clearer regarding the position of Shell UK following their recent cut backs
And they need a plan B lined up pretty smartish in the event of the unthinkable happening
And before all this a big push on cost savings starting with remuneration isn’t unreasonable given the current situation
There is absolutely nothing personal here it is just good business practice and should be done as a matter of course given the current unprecedented circumstances
All this because I want CLNR to succeed and not become a trough and a lifestyle company
Only highly in dented companies seem to be rising, look at Enquest lol, I bought 100,000 of them at 7.7p last week now look, RNS saying they may not last does make you wonder, look at what happened to XEL all the hype,