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At least we've got until December before the 110mn EBRD shares can hit the market. But in the meantime, the sp action is one of the lousiest for an O&G share in the last year on AIM. Not impressed so far, Jeffrey Auld notwithstanding.
To be honest, can't justify this price drop. Yes, there is an output drop but check the google analysis of the rest Q1 to Q1.
REVENUE 7.58M 2.91% UP
NET INCOME -1.01M 42.71% UP
NET PROFIT MARGIN -13.32% 44.34% UP
OPERATING INCOME -494.00K 30.52% UP
Hope after today meeting we see it back to 3.50
Because there's a Seller... want to add some more but not while the big sells are going through.
Hard to fathom why this is so cheap was cheap at 3.5p now a penny less.. hope its a flush out.
Watch this space this evening.
Presentation via the Investor Meet Company platform on 17 May 2021 at 5:00pm BST relating to the Q1 2021 results.
What a crazy low Mcap.
C.
Q2 will see several improvements. The new well only operational for a month. Q2 should get a full 3 months production. Be interesting what Jeffrey says about Sabria well. The new pump is being installed now according to April presentation document. This was a non producing well which they estimate to be producing 543 bod. This will be a big earner. Really interested in what is happening with this well. If this comes on stream Sinerus get 45% and a big bump up in revenue. Q1 oil price $54 barrel. All of Q2 is so far over $60. There is some good stuff.
The slight decline in the first quarter has been explained as a technical issue and now we should see an increase. Unsure if this should have been communicated before last weeks results as many would have sold having got the jitters. Good interview and will see an increase in production and real hope that if Tunisia gets its house in order then we would hit the jackpot. This should be later this year so not long before they begin work.
I thought it was common knowledge that the deeper the well the more pressure there is, Serinus's shallower wells will obviously decline quicker however this can be reversed by using compressors, pumps, injection, etc. The plus side with a shallow well is that they are relatively cheap to drill and maintain.
Does anyone know what the bopd targets and timelines are, I read somewhere it was 7500-8000 bopd but not sure by when.
Well decline rate was touch on in the interview he done.
He talks about well cost and daily recovery, when a well can pay for its self rather quickly with a minimal decline rate which is normal I don’t see why this is a negative.
To assume a well operates at max output without decline for its life cycle is absolutely ridiculous.
If PIs are selling for that reason they shouldn’t be investing in Oil and Gas stocks
The Decrease in flow rates has put a scare on this company , would need a future guidance on spend and addressing the decrease in terms of timescale.
Antha, thanks for the quick response, iv only just taken a small position here at 3p, my knowledge of O&G isnt the greatest admitedly so all helps, seems like a decent board here , wish id not watched it now !!
If I was looking to short a company that's the sort of video I would put out, most of the content is about the past which mostly has now been addressed.
I would rather listen to what Arden Partners have said about the company "US$35.7m full year 2021 revenue forecast, relatively conservative US$50/bbl 2021 Brent assumption and US$5.2/mcf 2021 Romania gas price assumption, with a Buy Rating and a 6.4p Target Price."
They dont have anything decent to say on this , anybody on here care to give a more positive write up ?
Cheers
I wouldn’t even call them a series of historic failures - just very unlucky series of events that would have impacted any company, not bad decision making or poor management, just bad luck and all in the past now. Looking ahead, this is now a debt free producer with a roadmap to increase production. That’s it.
Watched the first 10mins and there’s nothing new. The unrest is sporadic and hasn’t affected operations for a while. The history is exactly that and senx has travelled a long way with a new bod. We know about the decrease in Romania but has potential to increase in the next few months. He states that there isn’t much potential ultimately as it’s a small outfit. Reminded me of many companies on aim where they sell you a dream of a huge spud and then years and many dilutions later find nothing. I’d rather invest in something tangible. Will be interesting to hear what others think as it does seem like a in-depth analysis.
I wish Mr. Auld would look at this analysis and give us his feedback. Its a pretty negative view, to some extent justified and to some not (e.g. looking at historic failures of no relevance to present, constantly going on about the unrest un Tunisia like its happening every week etc.)
https://www.youtube.com/watch?v=ACuu7kgEEic