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Rots. Silly question. But i am not seeing revenue on accounts. Am i missing something chap ?. I notice running costs are relalively low. Cluff has been around for years .
There is no revenue!!!!!
This is an exploration oil and gas investment company with a string of licences on the UKCS in the central and southern North Sea two of their licenses have been farmed out to Shell and we now await drill investment decisions with likely drilling to be during 2020 for Selene and 2021 for Pensecola. The value of these farmed out licenses
according to Mr market is 5 million pounds with the remainder of the market cap held in cash to pay working capital and the CLNR share in the two expected drills
The company are also currently in the process of farming out a third licence Dewar and are applying for new licences in the upcoming 32nd OHA round
I think now is a good time to buy and 5 million pounds for this company excluding their cash is ridiculous on one hand but an opportunity with the other
I have bought and am holding waiting for the market to cotton on
Dyor and good luck!!!
Spot on Mike.
This is not a producer but unlike LEK we have two fully funded jv's with Shell.
Imo this will rocket next year mainly because it is UK and more farm outs should happen. I am holding 7m shares which is a lot for me and it will hurt if it goes pearshape. However, just under £15m in the bank is a great fallback.
PI's love UK drills. Just look at UKOG.
I am happy to hold for months because I will never accumulate so many shares when the crowd arrives.
Roty no you won’t as they will come as sure as eggs are eggs
Target price going into next year?
Mike
MCAP should easily double but I will derisk as soon as 2p is reached. I have been caught many times before by not profit taking.
However; hit oil and we are looking at 6p plus.
Rots, Mike. Thanks for feedback back. I was just going through the interim results and i like what i read.
Congratulations on your Matd holding Rots.
I am about to sell some gold and sniffing around for another investment.
Thanks once again for feedback
Woodie
Woodie
Keep an eye on BRD tomorrow. Auction of 20 carat diamond may cause a spike.
Mike you are right. The market has not yet cottoned on.
They will in the next 6 months in my opinion
I would love BP or Shell to farm into Dewar
One more thing I would say is I think the directors of this company are honest
The last RNS said majors looking into it. Roll on the news. Only hope no more fund raise to contribute to drill costs.
The market makers are giving the disparate ones a fraction more to sell so out they come chasing the next golden trophy
The problem is they are likely to choose the next crock of ****
Rots. A belated thankyou on BrD. I only just read your post.
Good weekend to you and Mike007
You have a great weekend and probably good you did not read it as the share price went down today. Lol
Exploration
What’s going on with Cluff at the moment?
Thanks
trying to get a better entry price, same as on Matd.
Worth remembering that Shell are spending a lot more than CLNR and further farm outs are in progress.
Why let the truth come in the way of a good de ramp
Company trading at 5 million pounds if you discount the 15 million cash!!!!
There is one desperate person /party willing to dump at seemingly any price and has been going on for weeks
They typically sell in 250 500 or 1000000 lots
Probably Cluff taking money out for his new venture