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Farm out is delayed
You forgot he O & G awards which are imminent. I think they will get a few due to their cash reserves.
delayed due to covid19, but doesn't change the investment case here. Looks better than its ever been, Trading sub cash with potential game changing farm out decisions due.
Covid19 is a temporary problem, this will get chased hard in due course.
There was a decision due last month as well.
In the process of scaling in.
Raised £15m at 1.75p summer last year. Still have £13.3m cash in kitty as of last month. Have farmed out to Shell with decision due on Selene licence due this month...
nice preso https://www.youtube.com/watch?v=4Ptx37oxr9k
At least if we knew that as a result of the recent Shell cutbacks that our projects were still on track that would at least provide some comfort in these terrible times
But all we get is uncertainty which creates fear and misery
You are right FD we don’t count
It is absolutely rubbish we have waited for over a year now and all we get is a massive reduction in shareholder value with the very real risk of even less if Shell walk away
A complete shambles
Mike in the absence of ANY information, particularly considering Q1 has gone and Shell have made considerable reductions to their Capital expenditure going forward, are PI's to understand they are not important?
Does anyone actually believe it is business as usual and we are anywhere close to a drill decision
I would really like to hear other people’s opinion on this
Thanks fellas, but it’s the families I feel for, imagine not being able to be with them when they die?
What I would like to know is, where are all these bodies going? Are they refrigerated, when will they be buried and where? And by whom? No funerals so what is going on? So many questions, it’s a bloody nightmare!
Stay safe fellas, hope we all pull through this and our loved ones!
Yes sorry to hear that fella, all the best wishes to your friends family
Sorry to hear that Scooby. A direct or at work is on a ventilator. Scary times.
Hope you are all ok.
So I have been scaling in here at the lows.
£13.3m cash vs £10m cap. Even with projected admin cash burn will have more cash than current cap by YE
"Cluff remains in a strong position from which to deliver exceptional growth. We remain fully financed for drilling activity and have multiple upcoming catalysts for growth from our existing and potentially expanding portfolio via the UK Offshore Licensing Round."
Free throw of the dice here where downside.. is upside.
Cheers Amtech He was a lovely guy one of the good ones unlike me,
I think Boris is in big trouble, but they are playing it down, I would be surprised if he pulls through, I’m sure he will get the best of care, but it seems to be affecting Men more so than women, anyone with an underlying heath problem should be scared now !
Take care guys, it’s only money and we can’t make that if we are not here to do so!
Sorry to hear that Scooby.
This virus is having devastating consequences, do wonder if Boris is worse than we are being told?
Scooby did your friend have any other underlying condition? If not, just goes to show when your number is up that's it.
Money then means sod all.
Dreadful that scooby
Guy I have known for 20 odd years died this morning in his 50’s Corona RIP
Stressful times Scooby and that’s exactly what I explained to them all after Boris gave his lockdown speech a couple of weeks back, work carries on until we have no work. A lot don’t understand the gravity of the situation for SME’s as most just came in the next day expected to be sent home on 80% pay, if I did that they wouldn’t have a job left to come back too. As we are seeing in the parks some people are just morons, if I was in charge they would be arrested on the spot and used for clinical trials for a vaccine to help the rest of us.
Looks like another Tax Year related trade this morning (1.2m), probably a transfer into and ISA now we are in 20/21. Likely will be more of those over next few days.
Amtech they should be working if possible, I have all my guys working, they want to do so, none of the builders want to be sitting at home doing nothing, it’s just not their style, they are all geared up with masks on, and keep their distance as best they can, I have as many as 12 on each site, I have explained they can either all go home and get 80% but they know if they do that, there may not be the work for them when they get back to normal, it’s a tricky one, as life has to go on, we can’t just hope the give gives hand out, nobody will get any money that easily from the banks, m y company’s are highly leveraged, in not, so I am ok, others will have huge commitments that will need paying or they are gone !
Anyway let’s hope this Pandemic is over soon, but from what I have seen in Eichmi d yesterday and London parks this will go on for some time, everybody is out and about !
Stay safe,
What I really want to know is are any of the projects still financially viable?
EXCEPT
Something else for the Cluff management to consider is nearly all oil and gas companies who suffered massive falls are no longer sitting at all time lows that is yes you have guessed it Cluff Natural Resources