The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Absolutely no idea, Barney182, a decision could come any time.
So do we have another 17 days at least before an answer do you think Ocelot?
The Easter legal term began yesterday and runs to 24/05. Below is an extract from Free Frack Balcombe's timeline:
November 2023
1st November 2023 Another round of fund raising is launched to fund our Appeal. Crowdfunding site launched at https://www.crowdjustice.com/case/stop-balcombe-oil/
October 2023
31st October 2023 We lodge our application for permission to appeal to the Court of Appeal.
15th October 2023 Judgement received from the High Court rejecting our judicial review. Our judicial review has been rejected.
July 2023
19th July 2023 The High Court heard a judicial review of the Planning Inspector’s decision to grant permission to Angus Energy to flow test for oil at Balcombe.
https://frackfreebalcombe.org.uk/latest-news/flow-test-diary/
CORRECTION: in 3/ "He speaks of considering drilling" instead of "considering drilling THEM", to make it clear they are not planning to drill 4 wells, the planning request for 4 wells is to provide them with a choice of options.
From 02:25 RH explains the capital projects at Saltfleetby currently being undertaken or planned.
1/ the booster compressor is on track, being constructed for the company in the US and planned for installation in Q4:
2/ noise abatement measures for the site, the compressor "hoods";
3/ working on a planning request for up to 4 new wells. He speaks of considering drilling probably from mid-2025 onwards.
Was there anything about how they’d pay for it all?
From 02:25 RH explains the capital projects at Saltfleetby currently being undertaken or planned.
1/ the booster compressor is on track, being constructed for the company in the US and planned for installation in Q4:
2/ noise abatement measures for the site, the compressor "hoods";
3/ working on a planning request for up to 4 new wells. He speaks of considering drilling them probably from mid-2025 onwards.
For those who haven't listened to RH's interview:
they are currently working on a planning request for up to 4 wells at Saltfleetby, in order to provide them with options when the time to drill comes:
now looking to drill from mid '25.
Welks,
I am not trying to convince anyone, Ocelot speculated that I had not watched it, and I have not, I couldn't give a fluck about pumpy webcasts etc,,, they have little to zero value.
I will let you know first, IF & WHEN I do punt this in the future lol.... as it stands right now, not a hope in hell until they state something factual regarding forward plans and funding for it.
NEXT !!!
Ocelot: dear oh dear. If you’re going to extrapolate in this way, would you explain the relevance of EV/EBITDA, please? And specifically, how it’s affected by rises in debt and by comparative interest rates. It seems to me that if Angus paid off all its debt, the EV/EBITDA would be even lower. Basically, all it tells you in Angus’s case is that the shares “look cheap” because there’s so many shares, whose price is low, and in spite of their having a ton of debt. Not because there’s any fundamental value in the company. Just that no one wants if because it’s so dodgy. The EV/EBITDA could easily get a fair bit lower. Unless they borrow a whole lot more money or sell billions more shares to whichever entities own that 42%.
Sorry, Bubblepoint.
BP trying to convince people he hasn't watched the presentation when his interest in the comments board is is borderline obsessive to put it mildy. Who you trying to kid. Your comments are like mini novels shouted from a soapbox
If one assumes the EV/EBITDA multiple is currently about 2x, then a multiple of about 8x would give us a share price of about 1.30p.
Not seen Singhie's figures just recently but, if I remember right, his share price forecast was 1.51p or thereabouts so, by different routes, one arrives at the same kind of share price.
To each his own, Bubblepoint.
Personally, I appreciate their efforts to communicate with investors and believe investor relations are important.
Personally, I appreciate it MORE when a company actually creates UPSIDE for it's retail punters, not simply undermine what they have to facilitate themselves. as said, actions speak louder than words, and there is a severe lack of real action, or even a decent plan.
Lol OP,,,, stay with it, your points are more than valid, and I am sure you will (as I will) change your view/tone WHEN the company changes theirs !!
To each his own, Bubblepoint.
Personally, I appreciate their efforts to communicate with investors and believe investor relations are important.
Bubblepoint: we seem to be overlapping! I think I’ll leave this to you for a while.
Ocelot: I’ve watched them and can’t recall their discussing how their growth plans are to be financed.
Ocelot,
I am not interested in words, they are "cheap", when they come up with a PROPER factual/actual plan that has timelines and funding method attached etc then I will listen/read their spiel, not interested in cheap nonsense, they are reserved for the more gullible.
Bubblepoint,
You have said you haven't watched the company's recent presentations, which is where they spoke of their growth prospects (although they also said these are still at an early stage).
I don't know about "rerate" there might be a few peaks n troughs for the foreseeable, and I have not seen anything from them on "growth" prospects, only really efforts that hopefully maintain the same as now....
As for sentiment, well THEY killed it, not posters on here, you cannot argue with facts and reality.
Bubblepoint,
Imho, the negative sentiment will subside (I don't know when - it could be any time) and the share price will re-rate on the basis of the figures of the business and of growth prospects.
Ocelot: if by “negative sentiment” you mean that investors have begun to realise that Angus will not be able to finance internally the investment required to keep Saltfleetby flowing, but will need to go to shareholders time after time, while the gas pressure drops continuously, then I think you’re right. Some clarity on the new deal with Trafigura re hedges and offtake agreement might help but, as was observed here yesterday by another poster, there’s probably a sound reason from the Board’s point of view for their reluctance to share this information with shareholders.
Herbert enters Dragons Den,
We are owners of a depleted gas field, that had a good plan of action 3 years ago, we knew the problems.
We had historic info to help us develop a forward plan with good design and Capex.
We are now in production, have been for nearly 2 years.
We invite you to invest £1m for 1% of the company, because we believe it is worth £100m +
Peter: Soooo lets look at the development timeline, did you stick to your plan A ?? ermmm NOPE,,, or leader guffed it trying short cuts, it took 4 X longer to drill a simple sidetrack and cost ermmmm a LOT !!!
Ok, did you at least achieve your target ??? Ermmmm well we did ermmm manage to drill the hole, bit shorter than planned, ermmm like 70% shorter and a bit gunked up too.
OK, so did you at least bring it all in on budget ?? Ermmmm nahhhhh we ripped investors a new bumhole, by throwing out another 3.7 BILLION shares to this point, Ohhhh and we had to consolidate some ermmmm really bad debt, and a crappy hedgy thing with a really bad royalty thingy attached.
OK !! so how much have you had through your hands todate since starting this project, including revenues ? Ermmmm probbbbbbabbbbly about £70m give or take !!!
OK, and the debt ?? did you clear it with all this money swilling around ?? ermmmm no not really, we kept it going, now just a mere £20m owed over the next 6 years.
OK,,, AND how much do you plan to spend on forward NEEDED capex ?? ermmmmmm shedloads,,, probably another £15-20m to upgrade compressor/booster, run new velocity string/s, drill a couple wells etc etc.
OK, and will the do something good for production & revenues ??? ermmmm probably not, at best it might maintain current levels for a few years, at least until the loan is paid off !!
Soooooooo OK,,, and this great royalty deal from the past, is that closed off ??? nahhhh sorry, they want their cream !!
OK !!! so looking at the big picture, I see NOWT in this for me !!! just risk and almost nailed on NO reward.... I'M OUT !!!
You get the drift Ocelot !!!
Ocelot current share price is a function of: (to date net profits / debit-hedge service costs)
Until this actually changes, few will asign much value to the 4 billion shares.
An aside: Did BV finally get banned, or so busy averaging down no time for playground level comments?
What would be a conservative EV/EBITDA multiple for Angus? 8x?
I don't think the share's current price can be explained in terms of the fundamentals of the business, it seems to be very much a matter of negative sentiment.
You do realise that $\rho^{3} - \left( \gamma_{x} \times \beta_{y} \right)^{\epsilon} = \Theta \cdot \left[ \Phi \left( \zeta^{\frac{1}{2}} \right) + \Lambda \times \Omega \right]$ was the foundational principle underpinning the algorithmic trading model that promised unrivaled returns in the emerging renewable energy futures market?