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Understood and agree hodl, it will eventually work its way through but the visibility of it on the books isn't there yet. I wouldn't disagree with your workings either, there or thereabouts with what I would expect.
Hodl, it may not all be going to an escrow account. For example, they may well be billing or back-charging the Receivers/CUDA for costs incurred in Q1 without directly profiting from sales. However, the sales revenue will be going somewhere and if not to COPL/SWP directly, it will be held in escrow pending the finalisation of the acquisition. With little overheads, net revenue will be far greater than the $300k deduction in the receivable.
At the end of the day, it will be going in to the same pot (in other words to SWPs books). Whether that is in Q1, Q2 or Q3, is a minor detail in my opinion.
There is it seems, a certain poster here again this morning who is desperate for
someone....anyone to interact with him.
Well done everyone who has intelligently ignored.
This board is a much more pleasant read .
Hodl, I disagree with your interpretation on receiving CUDAs WI, unless I have misinterpreted your meaning.
"They are taking money back for billings.
Money recovered. The Q4& Q1 suggest they have clawed back $ 300k,upto March 1."
I understand it to be they are recovering the entire proceeds of CUDAs oil sales and have been doing so since last year to settle the receivable that they hold, not just CUDA's costs. It is held within an escrow account and can be booked as revenue following completion of the CUDA acquisition, although in effect it already is.
I suspect that proceeds within the escrow account will be, partially or wholly, used to offset the cost of the acquisition.
Follow me
Am the same boy I used to be
Angus mate your actually hilarious calling it down do 14. now you think it's doing 200%. what's changed in the last week except that you've bought in ya absolute flapper
Well don’t buy then and I think you may regret it over the summer
Well said Scott.
"I like Angus. He did predict the bottom to be fair."
He didn't, he was mouthing off about it hitting 12-14p. He's a ****womble of the highest order
If only he comunicated more over the last 8 months, we wouldn't be where we are.
See what can happen with more RNS's? Well hopefully things have changed.
GLA
"I like Angus. He did predict the bottom to be fair."
You're joking, right? Do you have any idea how many predictions he's got wrong? I'll tell you: fuc king innumerable!
Angus is JonesRichard
I like Angus. He did predict the bottom to be fair.
Cuda and placing done . Independent resource report out soon from RS. Unhedged Cuda revenue to be added to accounts from Cuda oil production. Art communicating. Wti price still over 110 .
Looking good and back to 30s I hope.
I have never said this before but on this occasion I think Angus could be right lol
Angus, what happened to 10p?!
This could go up 200% next week
Just a formality to close Cuda.
They’ve been banking the production money tho Uncle aka interview yesterday.How’s the coffee this morning in that Sad Cafe you love to frequent lol?
Coplnober since suspension we added Cuda and massive new discovery so market cap should be much higher than the £40m - £60m range.
TL, I agree with you on that front. I’m looking at this in three stages: short, medium and long term. I believe stage one is under way and will see us rise towards the 30s, where it may stay until we see further clarifications. Mid term will require oil to be flowing from the new find with proven operational data (up to circa £1). Stage three must surely be a profitable buy out, IMO.
That’s what I see, but lots of hurdles to overcome en route. Cautiously optimistic of this panning out well.....
They may have been angry. Me included. But when we see that he is a NEW MAN now and we're making money, then all will be forgiven
bob, why would "we" be "panicking" if we're traders?
Surely we'd be running our hands and planning how we're going to spend all this lovely tax-free cash?! :)
Art will have to answer some difficult questions today from angry shareholders
Funny how you weren't willing to engage directly, Sidney :)
Back to Twitter for the rest of the day?!
Ignore. They're starting to panic. Nobody engage!!!!