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Yes, two potential buyers, AEX and ARA. It also depends on if the extension licence comes with the 25 year development licence or later post CH-1 With a 25 year licence it's value will be so much higher.
I completely disagree stick, they are one licence away from the biggest drill on the licence area so far and the preceding two drills already delivered huge onshore gas. As well as CH-1 I would also like to know the true flow rate from NT-2 as I expect it will be much bigger than 17 million scuffs.
It depends which licence you are refering to steve? If it's the Extension licence then I see no point rushing to sell any of Ruvuma as for a little over £3million they get to appraise the 763 BCF 2C with the west and updip Chikumbi-1 well and the unexplored deeper Jurassic which may contain over 1TCF of gas or even the oil they have been following west and updip since the Tullow JV days.
If you mean the 25 year development licence then again I think the BOD should wait for the Chikumbi-1 result unless an offer was made that far exceeds the current offer that Aminex accepted and assumes CH-1 multi target success.
SO from my point of view wait till they have the CH-1 results as a minimum.
Just how long have we been waiting for this licence now. It seems like a couple of years ago that I wrote ' Is it called a 25 year licence because it takes 25 years to get it?' Looks like I won't be far off.
Yes steve the deal is backdated to the 1st Jan 19. like you I don't think there will be much left over after drilling/workover & costs from the 2019 numbers and not sure if they have started the infill well on K09ab-A yet.
€20 million earnings forecast fy 2020 and with the experience of this new team I would expect them to have their numbers in order in terms of profitability.
Am i correct in saying that our year end figures will include a whole year of income less expenses for our acquisition.
If so then we should show a profit maybe not substantial but a profit in any case.
So we should have earnings What does concern me is the cost of acquisition. Fees interest charges amortisation the list goes on. I’m sure the board wouldn’t have spent this amount of time and effort unless it was profitable for the company it’s shareholders and of course themselves.