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The problem is not at all in Ukraine, but in Mr. Novinsky.
He can find a thousand gray schemes to withdraw money from profits and not pay dividends. They are used to doing this in Ukraine and will do so always and everywhere. These are the oligarchs who were born after the collapse of the USSR, then assets and crime were together. They all love gray tax optimization schemes)))
There will be no dividends. I think there is inside information and that is why the share price is so low.
I really want to be wrong))
The real issue with Ukraine as a country is that it is on the brisk of default
It has not defaulted yet mostly because of new IMF loans. But larger and larger portions of new loans are needed simply to service the existing debt
It can not continue this way forever but so far so good
I am from Ukraine. 100% agree with Krok.
This has nothing to do with Ukraine. Crimea has not been an issue for many years now
People just try to find any explanation but it is irrelevant
Ukraine is much better than most African or Middle East jurisdictions. Way better
Agree! I think people are maybe concerned about the region i.e. UKraine but the Crimea issue which was in 2014, things are settled now.
What has happened to the share price most recently is just ridiculous
Gas prices are set to stay high for most of 2021, at least
Production is to stay relatively stable throughout the year, with only minor decline by year end (unlike JKX)
FCF of $25-30 mn for the year is pretty much guaranteed
Cash by year end - $85-90mn (before dividends, if any)
Most peers have increased substantially in terms of share price
"The Reduction of Capital creates distributable reserves of the Company, which would ENABLE the Company to MAKE distributions to its SHAREHOLDERS in the future, subject to the Company's financial performance"
Seems to be lots of selling across the portfolio. Interesting to see that with so much sells going through over the last few days, price has been pretty stable. Still feel like there is someone buying and accumulating shares here.
Lots of sells ahead of a potential announcement of record cash and or a dividend, strange.
Regarding presentation, the board doesn't care. We are left to our own devices here, just need to accept it. It it reflected in the share price
It just can occidentally occur that what the company does is also favorable for minorities
Re cash, Novinskiy will need it sooner or later. Hopefully, that will be via dividends, not via some dodgy schemes like transfer pricing or M&A
No, they didbt. Out of this $8mn, they paid $4 mn a year ago. This quarter they will have paid only $2 mn, and the remainder - one year from now
They spent $8M on Arkona so this will be taken out of the cash I think. Lets hope for a dividend, they need to do something with the cash. I think people are getting bored here and moving elsewhere. The BOD don't even have a investor presentation etc.
The well was a disappointment and to an extent a waste of ENW money
Ok, we move one
Next big thing is cash post 1Q and divi
If ENW hasnt spent much on its newly spudded well, the cash shall exceed $70 mn
3p divi would make me happy, the share price shall be 35-40p on these two news
Thordon, You are talking nonsense. Sorry, have no interest to argue more than once with someone who have no clue and who continues to persist with his crap
silence is golden
Krok you bounce from one oil stock to another , as for JKX they are making 3 times the profit then that of ENW
Reminder written by you on ENW
Production is down by 332 boepd
Their latest well gave them 565 boepd
Without this well, the decline would have been 897 boepd. That’s almost 20% decline from natural depletion! Extremely high for gas wells!
People on twitter saying production will undoubtedly go higher are idiots
ENW needs two wells per year just to maintain production. That’s $20-25 mn in capex - more than the company earns
I have emailed them to see if this will be taking place. It was due in January but cancelled. Also thank you Mr Buyer, there seems to be someone mopping up the shares here every day, great. Hopefully someone else knows more than we do!
Thanks Oldholder, understood.
Lets see in the past for bpd:
SV-6 Workover 394
SV-12 Workover 883
SV-54 spud 565
MEX-119 spud 1,070
VAS-10 spud 390
MEX-109 spud 778
SV-59 spud 154
Average: 605 bpd
So we can say - afte the abovementioned- that Svyrydivske (SV) gas and condensate field in Ukraine are a kind "dissipated" and the situation in the Mekhediviska-Golotvshinska (MEX-GOL) is seen better.
So why did they not mention 605 bps then?
Other points are good. Key inflection point will be when they decide what to do with the increasing cash. At least we don't need to worry about debt or placings to raise cash.
I am a bit disappointed with enw’s results.I did bet my self 580 bps but 452 I think is absolutely low.
I reckon the average was 605 bps.
Anyway instead of nothing is better-the delay of announcing this thing saw besides.
But everything has always and good things far the bad.
1.The current price , as I wrote yesterday the prices exempt the NG ie condensate and LPG are 43% higher than 2020 and that means 14% plus for current year ie 6,000,000$ in the total revenue.
2.With the current price the cost of the now in production SV-25 (let’s say 12,000,000) is amortised in 2 years and even a reduction of 10% in the third year ( with prices remain constant) gives an annual return of > 20% per year.
3. I observe the spud of the SV-29 with no delay!!!
This means even with the same bpd and some production decline we’ll have a production > 5,000bpd in the 2021 end!
4.Please note the VAS-10 work over has to come in the summer with boost of production.
5. The installation of a new equipment in order to boost LPG in summer also.
6.Ancona project and new well in VAS field.
Conclusion:For me as I have had said in the past the company passed the child illness and has come in the age of adulthood .
It is seen seriously acting without big mouth I refer in the Frank’s days back in 2000’s with 1 bl barrels if you remember.
I am not surprised if I see enw to entry in other fields exempt the oil and gas like distribution, renewable etc as they changed their name and the new name has no “the word petroleum”.
So I am optimistic due to their seriousness.
Krok, come on you do come out with some weird stuff. 500 would have been good but 452 is a disaster? Obvious from the reaction of the share price? What reaction?
Enwell Energy PLC (ENW)
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Thursday 25 February, 2021
Enwell Energy PLC
Results of SV-25 Well and Spud of SV-29 Well
RNS Number : 2647Q
Enwell Energy PLC
25 February 2021
25 February 2021
Enwell Energy plc
("Enwell" or the "Company")
Results of SV-25 Well and Spud of SV-29 Well
Enwell Energy plc (AIM: ENW), the AIM-quoted oil and gas exploration and production group, is pleased to announce the results of the SV-25 well and the spudding of the SV-29 well at its Svyrydivske (SV) gas and condensate field in Ukraine.
The SV-25 well is an appraisal well, targeting the B-20, B-22 and B-23 horizons in the Visean formation. The well was spudded in July 2020 and has been drilled to a final depth of 5,320 metres. One interval, at a drilled depth of 5,184 - 5,190 metres, within the B-22 reservoirs was perforated, and initial testing was undertaken using a variety of choke sizes. The well has been hooked-up to the gas processing facilities to allow longer-term production testing to be conducted to optimise the operating parameters of the well. Currently, the well is producing at a stabilised flow rate of approximately 1.9 MMscf/d of gas and 109 bbl/d of condensate (452 boepd in aggregate).
The SV-29 well has now been spudded and has a target depth of 5,450 metres. Drilling operations are scheduled to be completed by the end of the third quarter of 2021, and, subject to successful testing, production hook-up is scheduled during the fourth quarter of 2021. The well is primarily a development well, targeting production from the B-22 horizon, as well as appraising the B-21 and B-23 horizons, in the Visean formation.
Sergii Glazunov, Chief Executive Officer, said: "We are very pleased with the results of the SV-25 well, which was drilled safely and successfully, and ahead of schedule. The robust flow rates recorded will provide a further boost to our overall production volumes. We are also looking forward to the safe and efficient drilling of the SV-29 well, which we hope will continue our success in the development of our fields."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Agagah, clown Sid continues to re-post my thoughts on twitter
Sid, come in here and I prove to you that you have no clue
Yes, 452 boepd is value destructive for shareholders, this well has a negative NPV
Hence the share price reaction. It is not the market which is silly, it is you who is an over-optimistic idiot
If you dont understand the basics, you should refrain from losing your money on stock market
It never showed up on lse. It is on their website