Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Also at 44p did bagzz not say he would stfu?
😂
Would just like to remind people of this posted over the weekend.
also, where has terry gone? its all suddenly got very quiet.
Still here…6 Apr 2024 01:44
….watched today with interest! Anticipating the usual slide back below 40p on Monday. Watch this space.
About 60% and nothing for the TEAM!
YET.....
Magnificent - many new entrants pouring in - institution in the making
Second wave incoming looking at the trades
Azule got to be possibly today tomorrow , surely?
Brent $90
FCF at 23,500 barrels per day gross (7000 net) must be $70m per anum
Breakout of previous high now. Technical signal to buy
News incoming watch this space!!!!!
Before anyone starts harking on about, "omg $20m debt, they are basically bankrupt"
they already have this in cash based off previous cash balance, and the money from the drop in Feb.
554 days and counting of accrued revenue at an average $85/bbl Brent price from 1 Oct 2022, the effective economic date of the Azule deal - should have generated circa $118m of gross revenue to date to Afentra (Circa $35m of free cash flow).
Azule Deal - Total consideration of up to $84.5m, split $48.5m upfront and up to $36m in contingent payments:
* Up to $21m in contingent payments payable on a sliding scale above Brent price of $75/bbl with an annual cap of $7m over the years 2023, 2024 & 2025; and
* Up to $15m in contingent consideration linked to the successful future development of the Caco-Gazela and Punja discoveries (split $7.5m equally), payable 1 year after first oil subject to a Brent price of $75/bbl and production hurdles
So, likely payment due to date on completion: $48.5m - $35m + $7m = $20.5m
"We see opportunities for ESPs [electric submersible pumps], infill drilling, water injections really improving. Just all the classic things you'd be doing with an old mature field to offset decline and boost production. We think this asset with the fullness of time, between 3/05 and 3/05A has got the potential to go up to even as high as 30,000 b/d." McDade August 2023
30,000 b/d gross is circa 11,400 b/d(80%) ABOVE the reported level of production when the deal for the 3/05 assets was first announced.
Brent is currently around $90 and averaging over $83 YTD - rather fortuitously, this is coinciding perfectly with the huge circa 5,000 b/d gross increase in average production the 3/05 asset has delivered since AET negotiated the deal.
Post closure of the Azule deal, Afentra's 30% shareholding would generate 5.7 lifts a year of 450,000 bbls, one every 9 weeks, and deliver circa $217m of annual revenue at an average of $85 Brent......more than TWICE Afentra's current market cap.
Food for thought - Block 3/05 has a STOIIP of 3.15 billion bbls, with a 43% recovery factor as of 30 June 2023. The new fiscal terms greatly incentivise a much higher recovery factor from the block - at a 30% working interest, a 10% increase in recovery would equate to an additional circa 93m bbls net to AET.
AIMHO/DYOR
Despite the blatent deramping here, (less $1.5), its still over $20 profit per barrel compared to the buying costs. looking good. just need it past the finish line
And VOG before that….be warned about Malcy! He was posting about Victoria Oil and Gas being 3 x the 80p valuation. It then dropped well below 4p and went bust! Losing all for shareholders! Just very cautious and trying to learn from the past. If the goes up, great, but be cautious because it NEVER goes as the herd expects.
Bagggz718 I think you are jaded by your previous investing experiences - DEV etc. This is the real deal and you risk missing out if not in already.
50’s be the new 40’s soon
41.20 GBX +2.25 (5.78%)past 5 days
Brent Crude Oil (USD/Bbl)
90.868 +3.896 (+4.48%)
….watched today with interest! Anticipating the usual slide back below 40p on Monday. Watch this space. 😊 Remember it’s only a profit when you take it.
I have a question for Terry/Bagzz - Where the f are you?
Ask into the low 41.00 on close, looking good for next week hopefully.
I’m gonna take on the roll as the haters
Oil is to high we won’t have any debt and debt is good right!
Hopefully next week is the week
Stonking trading activity in advance of Azule approvals
This level could capitulate today. (Even on 5th April!!!!!)
Someone banging in trades at 40.9
Bang on
About to pop and instos licking their lips to get in
Kicking off
44p the £100m MCAP level where bigger investors come in
Christ, someone just loaded up, popped up to 40.8 bid