The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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There, fixed it for you Bellamy.
Just awaiting final signature & we're off to the races.
More deals in the works as we speak (KON15 & KON19).
All: do not hit "reply" to him, it just reinfoces his negativity.
Final results were exactly a year ago, so I'm thinking Mr McDade's possibly waiting for the Azule sign off so he can put it all out in one go.
Let's hope so :)
So it is...oops...never mind !
Think you will see its a sell ,look at time stamp!
Looks like a buy just went through for 150,000 shares at 55.40...bullish....which I like !
Agreed. Only natural to see a slight pullback today. However, that could imminently change.
I have learn't with this share not to be concerned on longer than expected news.
Really eager to see the current state of the finances and revenue etc
I would say completion is "imminent" and by that i mean it could complete today at lunch or tomorrow morning.
Next deal is also probably imminent
Boring
Listen fool
you were telling folk on here at 22p it's not a buy last year
I know a few that are taking legal action in this regard against Terry and after others so watch out
Those are some heft late showing buys. Woof!
Hopefully Azule completion this week, wouldn’t worry to much about calculations all will be clear when they do investor presentation.
I read somewhere in one of our updates that we were producing for 87% of the year, ie. downtime of 47.5 days per year. That need to be reflected in your figures.
Also there's a PIT (Petroleum Income Tax) of 7% that needs to be deducted from your figures.
Who is Terry?
I`ve been here when this was a net net from the sterling oil days holding 186K shares at 16p aint going nowhere pal.
Why is Terry posting. We hit 55p. Thought he agreed to stop
U R assuming 100% efficiency ("x 365" [days]) = no down time or maintenance at all . Hmmm. I don`t know about that.
We know that break even is $35 BOPD which I assume is ALL costs so if average spot is $84 then = $49 BOPD profit.
Efficiency of say 90% = 329 days
Production = 10k (see below)
From these inputs can be derived the target to be measured against market cap obvs a long way short of 0.5B USD!
What is not to like here ?!
Aah, thank you for clarifying:
Sonangol Deal - 3,800 boepd
Post-Azule Deal 6,450 boepd
@$84 per barrel
= $542k per day
x365 = $198m per year revs
$ to £ @ 1.26 = £157m
MCAP = £124m
The 6450 is not from the azule deal its post azule so you dont get to add it to the 3800 that was prior ...
They can easiliy get to 10k though cheaply by adding wells which given the FPSO can handle a lot more than double current production is a very low hanging fruit to pick ...
At 10k of production and no net debt the market cap should be around 300m-500m usd , that is my target ... which would be raised if any subsequent deals are done with the cash pile being generated ...
Sonangol Deal - 3,800 boepd
Azule Deal 6,450 boepd
Total = 10,250
@$84 per barrel
= $861k per day
x365 = $314m per year revs
$ to £ @ 1.26 = £250m
MCAP = £124m (currently half annual revs!!!)
I can go into margin and forward looking FCF if you want. But in real terms, this could double from here with no drama or notable selling.
Factor in a board and CEO that will be taking on more cheaper assets or great % of existing assets then put a value on this.
I know Rift. But 89p isnt on the ASK yet haha
Yeah but NAV is easily over a pound. ERCE reserve auditors calculated £0.89 when Brent $75 and production was ~18,500
Paul McDade talked (check youtube Afentra interviews) about "proactively" chasing acquisitions (aswell as bid rounds)
This is interesting in the context of the Next Deal. It could come from any bilateral discussions
Angola's new Incremental Production Project providing incentives to O&G companies to produce additional volumes bears early fruit, as Block 15 partners, Exxon, Azule and Sonangol make a new offshore oil discovery.
ExxonMobil(Azule Energy and Sonagol) hits oil offshore Angola and takes steps to search for more hydrocarbons - Offshore Energy - May 15th
https://www.offshore-energy.biz/exxonmobil-hits-oil-offshore-angola-and-takes-steps-to-search-for-more-hydrocarbons/
Wouldnt even be reaching the NAV they say Block 3/05 is worth - see the CPR
That's 6+ months away. Has to be doing 125p+ in my view by then.
Think we'll see 85p by end of June IMHO