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Agreed Maestro, minus a bit for loss of credibility from Montara and plus quite a bit for the gas coming on stream. About 70p wouldn't sound ridiculous would it even without a half years performance behind the share?
There were just over 94m shares placed on the 9th June 2023 which is somewhat large dilution
Tom we have 540m shares now.
Point kalan was makin that with revenue of $425m, jse sp was 80p end of 2022 and that equated to £360m mkt cap.
Now revenue expected to be over $600m and with the new shares getting back to £360m mkt cap will put sp close to 60p.
Incease of shares
There was a placing in June 23 of $50m the sp i think was around 55p so at a guess there was an increase of 20% to 25% maybe someone can come out with something different
Current mkt cap 140m.
If we get confirmation of production close to 20kbopd and the credit facility completed we may see a run here. Akatara is extras....
Around 450m shares.. That would have equated to an mkt cap c.£360m.
https://www.lse.co.uk/rns/JSE/total-voting-rights-lpwhap2frsj4idp.html
Not done my research Charlie - I covered it with a general other stuff has happened. Do you know the answer or shall I have a look?
Kalan at 2022 what was the shares in issue?
It's interesting isn't it that we have a ceasfire for Ramadan, no revenge at passover. It's really nice until you reallise that religion is temporarily bringing relative peace in yet another war caused by religious differences. If religion were a bully it would steal the kids lollipop and then let the kid have a lick to make itself feel better.
Oil is a little weaker imo because Passover is on the 22nd April for a week and from what i have read Israel will not do anything till after those dates.That said who knows?
Feel this is free money at these prices gla
KIND THANKS CHARLIE so the gas should be 6000 bopd extra ? LOOKS GOOD TO ME time to add another few thousand
Im hoping for another aquisition but with oil prices where they are i would imagine its more difficult now to get any bargains.
End of 2022 425 million revenue and share price at 80p.
On Charlie's figures repeated over a whole year we get 550 to 600 million revenue and a share price of 26p.
Add in the gas. ok other things have changed but the investment story is becoming compelling - just need to be cash positive IMO.
Did any of you has any calculation on expected OCF for 2024?
My numbers say between 140-180 MUSD on middle point of production and 80USD for brent.
Cqn you believe a company producing nearly 20kbopd valued at only 140m?
Value will out eventually..
SAS, as of today I have JSE producing.
Montara-6000.
PM-5500.
CWLH-4250.
Stag-2250.
Sinphu-1500.
Total, 19,500boe/d. 7000 of those are hedged at $70 a barrel.
2024 production expected to average 20,000-23,000 boe/d, a c.55% increase on 2023 at the midpoint.
Don't forget to factor in the increased water cut from the PM infills and Stag decline.
If you look at the end year results update on 31st jan, they were producing 13kbopd.
Add 2kbopd from the recent purchase of CWLH and montara was producing over 5700bopd so another 2kbopd increase.
Jse will be producing over 17kbopd at moment.
Very undervalued here. Its patiences here, by end of year this could be over 70p...
I think I recall a proportion of production was hedged at $70 as part of the last funding?
I think it might be about $92 or $93 Roxi - as a rule of thumb about 6% or 7% higher than Brent Crude if memory serves (I will stand being corrected) - not like you to be pessimistic lol.
Doing exactly the same - waiting for the fall to be complete to add some more and get the average down.
WILL get another buy in will watch it to see if it drifts if so will add