George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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Re:Nigeria, just come out and say it rather than burying it in a document, it’s shady at best and quite childish to be fair.
I’m still hopeful RS report and RBL will get us moving up.
A decent RNS .
But I'm more interested in what's happening now.
Production increasing and Ryder Scott next week.
That should set the SP on fire
With ryder Scott report due before AGM now saying end of May. Basically due now but putting end of May covers it so could even land today ?
See in the extra Canadian info section , finally admitting , Nigeria dead in the water
it would appear......
ShoreCan and Essar Mauritius
have agreed to extend the completion date of the definitive agreements on various occasions, most recently to
December 31, 2021. Due to a lack of response, ShoreCan has not sought further extensions at this time.
from the 414k MD&A File on SEDAR
https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00021327
Morning HODL
just to clarify your statement made last night:
"What Tiburn is alluding to is not increased BOPD ,but a boost to free cash because of a debt repayment from a partner."
No i wasnt :) - I diagreed with your take on the net production average of 1250 bopd and instead outlined why I thought it was ave c 1619 bopd
As stated in RNS:
"The Company has held Cuda's average production of approximately 477 bbl./d in the first quarter of 2022 ("Q122") and 506 bbl./d in Q421 to offset the ongoing arrears. Thus, in aggregate, the Company's total net average oil production in Q122 was 1,591 bbl./d as compared to 1,600 bbl./d in Q421."
Mea culpa, 28 barrels out.
We all make mistakes on data interpretation, retain different parts of the information to hand, learning from others understanding on the BB is a good not a bad thing, if your invested.
R Dunc for example is obviously industry and has an excellent demonstrated first hand understanding, we benefit from his knowledge, others are financial experts, business strategy etc - no one PI has all the answers, deferring to others expertise is beneficial.
COPLH
Whilst we are speculating a bit on the precise numbers, two points are wrong:
(a) On Tilburn's point, even if the CUDA debt has increased that does not mean the cash position was not better in Q1 - setting aside whether in fact it's a delayed billing thing, it just means CUDA were not quite covering what they owed (not surprising given that is why they went bust, and there would no doubt be hefty late payment charges/interest). The cash position still should be better.
(b) Happy to be corrected on this, but the CUDA debt written off for the CUDA purchase isn't the equivalent of cash. If COPL were not the purchasers not all the money would have been paid back anyway as CUDA is bankrupt - COPL is writing off something it would largely not receive anyway.
There's nothing more stomach wrenching than watching the "villain" try to portray himself as the victim/martyr.
Yuk
What U would say is if I spent my working day doing what you're doing,then my kids would be upset
What fake indignation !!;
Cup holder
Not a problem sir, your math checks out. Although I get $19,000,000ish fully collected in cash from both sales. I believe the full lein bill to be around $4.2m, and you are completely right about the tax part as he also mentioned this.
Not long to wait now everyone. COPL is a beast in the making (not rainbow chasing) happy with 50-60p
Best to wait for the "official" numbers. Not long to wait.
My head's going round with all these attempts to get to the Truth
The figures known are up to December billing. January and February aren’t added yet.
It’s billed 2 months behind, the amount owed is held anyway. Sorry I normally don’t mind your posts but nothing is “written off”. Been told by the big man himself that all revenue is kept by COPL.
COPLH/Tilburn
If I have understood Tilburn's basic point correctly, Q1 figures should be better than 2021 Q4 because of the net billing (or whatever you choose to call it) - taking money directly for CUDA's share of costs, and the arrears. That should make a material difference to the cash position at least.
SHouston. Are you awake yet?
Any straws in the wind?
RDunc. That's "obviously" what we have to deal with on a daily basis.
"Nonsense"
Germany is being quite confrontational with Russia isnt it, saying that it will end Russian oil imports by the end of the year no matter what.
The EU will surely go off their lead with few countries given more time to do the same.
This war seems like it won't end for months and months. Nato are still causing Mr Putin much annoyance and after the war does end normal oil trade - one would assume - would not be able to resume for a while.
I think the oil price will go way higher still even with slowdown in demand for goods and services.
If it does rise then good for COPL cashflow. Over months / years
Although.. I do feel sorry for people that can't afford all the rising price to fill up their car etc.
In what regard is hodl "obviously correct"?
There's nothing obvious about that statement. Is there any evidence to suggest he is correct other than an opinion that you agree with?
On the other hand, I have provided a reference that shows he could well be wrong.
Not long to wait either way but opinion and fact are two entirely different things.
we can disagree, but lets keep is clean HODL, no need for the insults.
Hodl, see below regarding your objection to the term net billing ref 10th January 2022, which also contradicts your argument that it is only to cover CUDAs costs.
"Southwestern continues to take Cuda's operating net revenue through set off or "net billing" to reduce the arrears over time. As such, Cuda's working interest share of the oil production and expenses in the Barron Flats Shannon Unit accrues to the account of Southwestern as the field operator, and creditor, until the arrears are satisfied."
Net billing is the term AM used in interview
It means SWP retained the sales revenue as operator instead of passing any to CUDA in period
Dakota isnt reported as its a confidential well, WI is 100%
just public available data and research
Agreed Tiburn. That is my assessment too. Cuda WI effective as of January, as per the RNS mid-Jan regarding settling of the arrears.
Add in significantly reduced OPEX due to 100% methane injection (instead of butane-methane mix) for much of Q1, lack of drilling activity and CUDAs WI & Dakota being sold at market spot price.
I'm cautiously optimistic about the numbers in the Q1, but we shall see tomorrow.
Gold gets the quote of the day:
"Don’t think the financial figures are too important"
no no no no yes
Silly Billy CH
Keep forgetting it’s 85% doh!