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Well, pretty much this, apart from lower profit than I expected. Merely treading water, this BOD have finished there operational work, its all about the sale. I'm even more convinced that Amerisur is all but gone. I don't expect top end fireworks but there is a premium to be paid from here
very much a non event! a few weeks could be christmas! they need to be more guided on timelines
I could have made 10% on Aviva in 7 days instead of sleeping here.
Failing operations and flannel is my take, not impressed at all. - sorry guys but I'm brushing the sh*te performance and lack of clarity under the carpet.
But I leave to others to analyse the results which IMO most importantly don't clarify the position wrt Indico as they are not definitive on any well even spudding this year let alone when.
Yes these interims look very much like a BOD going through the motions knowing their time is almost up.
Solid yes but at this stage the information is all about feeding into the sale process and not the SP.
With the presentation due to commence in the coming weeks, I would say the sale price negotiations will likely run nearer to Christmas now.
As for the Indico-2 spud, well the wording says it all. The fact that they cannot even narrow it down to a month, given we are already approaching 7 weeks since the Sol-1 result, signals to me that ONGC are at the table and are stalling in order to acquire CP0-5. It really shouldn't be of any surprisegiven ONGC have announced a war chest for acquisitions and this is right on their doorstep where they have operatorship and control of the process.
FY 2019 production guidance is maintained at 5,000 - 6,000 BOPD albeit given strong production performance year to date it is expected to reach or exceed the top end of this range. This does not include any contribution from exploration drilling or third-party sales.
Commercial discussions are ongoing to increase third party volumes to 2,000 BOPD in H2 2019.
"Colonel, if 17p is too low buy more. I am."
- Taverham - there is not unlimited supply. Sellers could dry up now.
"However, given slower than expected pace of drilling on CPO-5 and revised drilling plans on PUT-8, following the previously announced transactions, we revise our plan from up to ten, to around six wells to be drilled in 2019 across exploration, appraisal and development activities."
Looks like Baz's suspicions have played out. Or at least that is what they are being lead to believe.
2019 exit - reach or exceed 7K BOPD, without expl. upside.
more realistic 6 wells (down from 10).
Bogata meeting within "weeks".
Colonel, if 17p is too low buy more. I am.
Giles says FSP is competitive - important
"For the remainder of the year, we remain focused on building production to the top end of guidance, appraising the Indico field and progressing the **** competitive **** FSP in order to maximise value for all shareholders.""
only $46m cash - where is it all going?
Indico-2 spud in H2 2019 - WTF?! ONGC clearly don't want Indico 2 drilled as it may spoil their offer. If they weren't going to make a bid then it would be spud by now. Could be the case that an offer was being lined up much earlier in the year (perhaps when GC and JW visited India) and that's the reason why they drilled Calcao and Sol.
Management presentations in Bogata in coming weeks, so looks like FSP will run into October at least.
Not expecting any fireworks or for that matter damp squib. Reckon that an rns re sale will come between 15 -30th September. Still my call says over 30p. Not so much a hunch but the minimum that would ensure the buyer/s would be getting a real steal. Patience today and hopefully some news of sorts from which we may be able to glean some potential theories going forward. GLA I will continue to purchase at these levels. totally undervalued for assets that it has and potential going forward.
Also, suspect the FSP itself going to cost a bob or two.
is it plausible that the RNS tomorrow may simply say that the results are not forthcoming because of the ongoing negotiations?
Would like to see:
Some effort given to the process rather than rudimentary release
Update on drill plan / seismic
Indico2 to have spudded
Update on third party oba
Cash position same or increased
Some positive comment on FSP
The fact they removed date from the website and then reposted is interesting. Something going on there - decided would be later and then changed back.
When did c 0ck it up need asterisks?
Results won't move this baby anyway , they would need to be wildly above average to shift this dog. If they aren't reporting spudding or operational updates I don't expect the interims to be anything to write home about. Yes it does suck , it'll suck even worse if the sale price is crap or they manage to **** it all up and we're stuck with it and them.
either way, it sucks.
watching my watchlist skyrocket.
clearly uninterested in results. either a deal is a close certainty therefore the results are considered irrelevant, or, it is accepted that whatever the results, the SP is within the confines of the FSP and not free floating.
I have seen the SP over 18 months drop dismally from 20p down to 12p despite words of great optimism from JW - so without the offer from M&P the market would still be valuing us at 12p.
Any revised offer over 25p would be tempting- who wants to be stuck with a
Amer with promises and no concrete results .
Seems to be higher volume of buys this afternoon, compared to recent days.
Could be day traders leaving in the am and then coming back in the afternoon in anticipation of an RNS the next day.
But share rice is being held on the bid
News tomorrow!
Buy! buy! buy!
DYOR AIMHO