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Islandgirl - yup it's closed - and can be opened only for emergencies (which of course will be harder and harder the longer it stays closed and is designated by the State). Main issue is oppostition from the population in the surroundings, mini earthquakes, and NL's green push: this leads me to believe that it won't be sold to anyone only to be opened up again.
Mark states very clearly in the interview and recent RNS; cash in bank and monthly revenue from 2 assets - Spain and Italy - will fund further organic development of these assets. Let's stick to the facts.
On separate note - Not sure people have grasped that £340k PXEN shares have been converted at circa 6.35p and the SP is 5p at over 25% discount.
https://twitter.com/TKIA_1/status/1741427710847602947
Thought they shut the Groningen gas field in Oct?
I did mention this some time ago,along with the broken turbine in Spain,I did guess Groningen,as that's the only place I know in north west Europe,going to cost 1 mill per drill in Spain and Italy but we only pay 37%.hope that helps.but even though we have steady income with only 175k of clans to be paid in march I have a hunch that a cash call might happen.so I await patiently ,
So a new asset looks likely?!
Yes but additional ones do.
We'll have plenty of time to save up given the time these permits are taking
You what MiKOX?
I told you until the CLN notes are gone at the end of March this ain't going anywhere.
CLN’s converted at 27% premium to current SP 🙌
Fantastic investment:
"As 2023 draws to a close our two producing assets in Europe continue to generate cash. Surplus funds so generated are being held and accumulated in the Company's investment and joint venture vehicles to provide funding for future projects, in particular the three wells planned in Italy and the five wells going through the permitting process in Spain. Current commitments do not require the company to raise any additional capital externally".
Converted at a premium. Hopefully this is the start of a rise.
Looking forward to reducing the CLN debt by 50% by the end of the month.
Conversion to shares?
or taking cash and interest?
Upside down side to either?
Rebaseline?! Haha Well you've had plenty of practise lately given your share preferences
Well that sell liquidity from yesterday hoovered up quickly.
Interesting take from bingo:
https://twitter.com/Borg74/status/1737034440679780639
Sometimes you need to move on in life and rebaseline 💪👌
I think we already are downtrodden... from 20p.
With continued geopolitical tensions regularly flaring, gas prices will continue to be volatile.
7% up today.
https://www.cnbc.com/amp/2023/12/18/global-supply-chains-face-another-major-hit-as-ships-avoid-suez-canal.html
The good news is we have 2 fantastic assets.
Selva producing with lots of additional reserves to monetise on a field already permitted.
El Romeral with inherent value in the infrastructure - 1 of only 3 connections to the national grid infrastructure in Spain.
Both extremely valuable in their own right with lots of optionality.
Debt free completely in a few months and no warrants.
So let’s not get too downtrodden.
Yep exactly,never on time.
Expected
It's a myth mate.The permits are expected Q1 24 and the drilling starts Q4.If you listen to all MRs interviews hes always been consistent with those timelines
Had a re think and brought half at4.88
4.84 to buy,never seen this low before ,my buy in price was forecast at 5.25.but with ttf at 35 euros that kind of tells me revenue is only jus,t above marks 30 euro price.so that means to self fund the next 8 wells it will take longer than the 52 euro ttf price of two weeks ago.so on that basis I will wait for a lower price,if I'm wrong I can still buy at less than my 5.25 buy price.for clarity where does it say the wells have been put back to late 24,when I thought they were first quarter 24.i can't seem to find that news anywhere,
For 2023 I get (euros) Selva 716k * 2 quarters of production + El Romeral 900k, accounting for exchange rate = £2M revenue this year and going forward £3M pa. From a DCF model where running costs are £1.5M I get £21M total value, around the current market cap. If Tesorillo or additional wells come online then of course there will be additional value created.
4p is an absolute bargain. This is about to pop, and when it does anyone bought in at these levels will surely multi-bag.
Read that update this morning and saw SP off, thought to myself that's the bottom.
Gas bouncing a bit on the Red Sea issues makes this more likely.