Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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50-100p - minus something for the post stress/trauma which no doubt will be there if Pensacola handed over (difficult to quantify).
I had a long standing target of 100-140p for both assets...so my guess is 50p for Selene only...
What is the expectation on a success case at Selene in terms of SP, based on the case scenario (handed over Pensacola to JV partner)
Ripley, good luck!
I have cash in waiting...but in two minds whether to wait a bit.
If Pensacola is resolved with a decent or semi-decent deal, the current level will probably ever be seen again!
If Pensacola is resolved with a bad deal or handed over to Shell, GGG may well be correct that the price will drop in panic to 10-12p, which clearly would be a massive buying opportunity!
TBC!
Topped up today for 16.8p a new low at 2pm.
The real fall was nearer 6% yesterday. The closing price on Friday was recorded as 20p due to a small trade of £200 in the closing auction when the trading price had been 18p bid 18.4p offer.
15% down yesterday 9% spread new 17p low.
Bad news everyday no time to be in UK listed small cap shares.
Petrofac yesterday.
Down 45% to 21p by 9am on update RNS.
End of year look at this one last trade a buy 17th March 2023.
"Bought some more 1.20pm for *1.7p" ( pre consolidation )
About 150 posts last 10 days noted at time.
Equivalent *34p I have noted .
24p Today , they were below this at 22p 6th July then climbing to 41p mid July the high .
Slowly coming back this 3 year low.
Another bad year this type of share reflected on my acc's as have so many .
Lets hope for a better 2024
In the video, one of the questions put to the panel was about the risk from a Labour government.
I make no political opinion about Labour or any other party, my post is purely about the relevance to DELT -
From Energy Voice -
Miliband: ‘We’re going to carry on using North Sea oil under Labour’
Shadow climate secretary Ed Milliband has admitted the UK will continue using North Sea oil and gas for “a long time to come”, including under a Labour government.
But the staunch critic of the sector said, despite this, he would implement a heavier windfall tax on the industry.
Meanwhile industry body Offshore Energies UK (OEUK) accuses Labour of “misrepresenting” the global profits of energy companies, and how much tax could actually be levied in the UK against overseas earnings.
It comes as Shell reports record earnings today – though just five percent of that comes via the UK.
Currently, firms are taxed at a 75% headline rate in the UK, leading to warnings over investment going overseas in light of the levy, which also threatens the industry’s ability to use free cash flow for renewables.
Appearing on the BBC’s Today programme, presenter Nick Robinson said to Miliband: “We will be using oil and gas in this country, not just for years to come, but arguably for many decades to come, and it doesn’t save the planet if what we do is use oil and gas from Russia, from the Gulf States, from Saudi and elsewhere, rather than take it from the North Sea.”
... there is more, including a mention of this from Starmer - "No new investment in North Sea oil and gas under Labour, Starmer confirms"
https://www.energyvoice.com/oilandgas/north-sea/480196/ed-miliband-labour-north-sea-oil/
Take a look at 22m 20s.
That "Illustrative Value" comes with an asterisk - please see it for yourself. I'm just posting highlights for anyone who doesn't have time to watch it all but of course you should always DYOR.
At 17m 28s - Selene -
"Economic metric" - "P/Share at 75p per therm (Unrisked)"
"Illustrative Value" - 11.6p
At 15m 45s - we are now looking at crystalising the value.
"At 1.5p I'll be buying more." - but it might not drop even that far.
Just wait unit they monetise that 6p per share. On seeing the falling channel, I was thinking of waiting for about 1.2p or even 1p before buying more, but now I'm not waiting for it drop that far.
At 1.5p I'll be buying more.
6p per chare - "Identify. Explore. Monetise. Repeat."
Thanks Ripley94 -
In the video - at 6m 30s - about Pensacola - "Discovery is valued at 6 pence per share net to Deltic"
This the one were I saw the vidio ( Which was not liked on this BB )
https://www.youtube.com/watch?v=w_YZhdNIGxI
Bought some more 1.20pm for *1.7p
About 150 posts last 10 days.
Bought some more 10.30am for *2.05p been the plan since 23 February last top up below , posts on here last few days mostly negative Just skimmed last few 380 posts here over the 4 weeks .
Not far off the first buy I see start of thread "First buy 2p 17/7/18 "
"No one knows anything " an adage even more suited to AIM it is just a gamble .
Maybe best idea to do the opposite of what the majority on here suggest .
Bought some more 10.30am 2.45p been plan for weeks .
( lent mass on Cyprian )
Noticed a poster on the BP. board keen on these when I sliced there two weeks or so back.
This board is very misleading it does not show the high price I watched this morning it hit 3.90 high and only shows high of 3.30 it’s very misleading to say the least.
With today's RNS and further hindsight no longer a mistake to buy back so soon after taking a slice on 23/11/2022 .
Opened 3.98p before falling back to 3p only noticed it midday .
Time not timing with most of them .
Deltic Energy PLC, up 18% at 3.20 pence, 12-month range 1.91p-4.38p. The North Sea-focused natural resources investor announces a "significant" gas discovery at Pensacola on licence P2252 in the southern North Sea. "Pensacola could represent one of the largest natural gas discoveries in the southern North Sea in over a decade," the firm says. Its first exploration well points to an estimated ultimate recovery of 302 billion cubic feet.
In hindsight a mistake to buy back so soon after taking a slice on 23/11/2022 , and the second buy also using up spare funds on 5/12/2022 2.95p .
On 6th January 2023 they feel down to 1.98p and stayed flat until the 10th January .
Today a drop of 7% with a spread of 6.4% .
I got back in with a limit order sub 3p, having sold at 3.6 a week or so ago, for no other reason than I needed the money temporarily. I didn't expect it t drop this low but as you say Noel, it is an attractive gamble from here even if it might drift further before news.