The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Not as much as many expected, if it does go through hopefully they use the cash wisely in building back production.
I was hoping for 100. It’s how they use the money is key.
Wolfi,
Spot on to the rumours that have been circulating for weeks.
$83m plus the boat monies of $10 to 15m means BNG, Airshagyl and block8 are fully funded for 2024 drills and production!
Have seen Adrianz twitter feed that the boat hire ir progressing.
That's where the money is
I'm guessing that A5 is just about to come over the hill..........
They have only just bought "Humpfree" how do they know this? .........With production expected from both Block 8 and West Shalva later this year PIs .......... in with the mushroom as usual
CC -i agree that money should be more than enough to have multiple attempts at getting a deep flowing.
We sold our regular income stream, so they must have something up their sleeves?
You'd like to think so Awax. That said £66m is a lot less than many were predicting and much less than Galaz
Nice big chunk of cash coming , more than current Mcap, and we still have the deeps!!!!!, very nice
Special Divi????, anyone
Looks like the company is going to to concentrate on being an explorer ,identify an asset, do the seismic , drill a number of wells, bring it to early stage production, then sell it on, rinse and repeat.
Well, it's more than the carry value on the books and this won't be the last asset they sell. BNG deeps next and that'll be significant. They've said it themselves, they're not skilled enough and I believe that there will be new partner heading our way that can price up the acreage.
They'll be left with a load of cash and possibly 2 producing assets ie B8 and WS and a barge that won't generate cash probably but instead will be a ticket to get involved in larger projects but they won't be involved in the drilling.
If the deal concludes, then I fully expect to see A Block and NY on the shopping list. There is NO value in the sp for those assets and the sale price could be 'significant' if they prove up any well ie 802/3 or A5 etc.
The question then is, what's next ? Is B8 flowing ie the new wells ?
Great to have sold the Shallows to fund the deeps etc. but for a very disappointing amount, which works out at $2 per barrel of 1P/2P Reserves apposed WH Irelands $8 per barrel estimate, this now gives us an indication of what the deeps might go for per barrel when we get a deep Reserves CPR.
Am I right in thinking they've only spent $15m/$17m on the Shallowsre Historic Costs?
Anyway, we're now fully funded and by the sound of it it looks like they know Block 8 flows.....Reserves should easily replace the shallow oil along with WS to boot.
Plenty of selling but this will settle down on the realisation that they’ve generated a chunk of cash BUT not what many commentators were alluding to. The big news is the deeps and they couldn’t be selling the shallows if there wasn’t production likely from other assets. CE cash will hopefully add to the bin shortly and I fully expect B8 inflow from loan repayment and production to hit too. The story continues but no guarantees that the deal is concluded as yet.
Smarty the $80M has been known for weeks, its been spoken about for weeks on other forums.
What's posted on here is generally incorrect and wishful thinking.
Someone even put $80M on here a couple of weeks ago, it was ignored and then you read " no that's rubbish its $200 or $300m" because I want it to be, and everyone wants to believe in fairy tales so they go along with it.
Fact: Casp have tremendous assets and are constricted by cashflow in utilising them into share holder value.
Fact: With $83m plus the boat hire profit of $10-15M they now have tremendous assets and the cash available to make all of those deep fields flow.
Fact: A5 is on drill and has a current and valid flare licence, add that in to the mix and watch this go well into double figures.
Nail on the head George.......quite a speedy sale too, so must be stacked full of confidence that revenues will be substantial in the very near future. Market cap with soon reflect the assets and not just the cash on the books!
CC,
I’m not unhappy with the sale price and as communicated by the co it was above Cary value but I suppose it depends on your assessment of ‘significant’.
They had to generate cash and I’m happy with it providing other assets start doing the same. CE is worth $60m+ if you believe the company and the balance sheet is healthy. Next steps BNG deeps . CPR coming our way and the story continues.
’.
What other good forums are there for Casp ? You seem well informed? Gives me much confidence. I'm holding 2M of these so great to see positive news out.
Can easily sell over a million shares before it goes NT ... that tells you where this is going on todays news.
Yep, 1.4m on bit and 300k ask, ready to rebound. MMS are making a killing with a .21p spread.
LTH here - so the're selling the only asset that makes any money, and relying on the deeps, which the've consistently buggered up...I sincerely hope they have insider knowledge on a deep working.
With $83m and $10m CE dosh coming in this year and with production expected from the deeps you can bet a dividend payment is back on the table Q4-Q1, and double what it was....
Margie123
I sincerely hope they have insider knowledge on a deep working
They own the company I would like to think they have insider knowledge otherwise we're all screwed