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I agree Dan,
Fag packet calcs are close enough for Wressle. Even without the upgrades, it's a no brainer at this current SP.
Should be no tax next year (Serenity) and probably not much this year with admin plus Wressle's upgrades and roughly first full year(August I think 2021) so 11 Months on this Year's finals plus it was not at 800 BOPD at start.
Whatever they are, they should be quite positive. The other production pretty much covered most of the Business costs at a lower price/Barrel last year so at $70-£105 ish dollars over the last 12 months this should have made a better contribution.
I'm still saying well oversold on the Serenity duster, the RNS the other day saying £1M loan paid back plus est £2M return from Serenity, should have had a more positive boost with the confirmation.
I think the market is looking for more stability with the Finals so close, plus they're a bit busy with bigger political issues this week, so we are only small news on here really. Best time to nip in I suppose and when they get round to looking at Europa then a re-rate will be due. But that's my opinion and what's that worth !! GLA etc
Fag packet and apologies this may not be entirely accurate but here goes,
740 barrels * 0.3 = 222 * 85 x 365 = £6,887,550 = current Wressle Revenue
1400 barrels *0.3 = 420 * 85 x 365 = £13,030,500 = Projected Wressle Revenue after upgrades + Gas.
Now apply a PE and add in £4m cash
The current valuation is a joke and clear that retail don't care about valuation, they're trading volumes and chasing the next rainbow.
Ok I'm in again for another top up. Struggled this morning but back in now at end of day.
Let's hope it's good news with the Finals, due basically now really.
well I feel we should be worth at least the 1.8p price, based on the price from the Serenity placing.
But with potential still from the Wressle continued upgrades and regular monthly income along with cash coming back, from the Serenity failed appraisal, we should have a good cash balance.
I'd expect a plan for Serenity that should really have another of the planned appraisals actually taking place 2023 after the wounds have been cleaned up. This will cost 25% so less than SA02 and should be funded with cash and no need for another Placing or loan. But who of us really know. Good luck all and you know DYOR etc
3.5p min .based on our wressle ownership and income.
This doesn't even include other assets such as *****tone Flags reservoir where gross Mid-case Contingent Resources of 1.53 million barrels of oil and 2 billion cubic feet of gas.
Accumulate and hold.... 10p in a few years!
and how did you come up with that figure Gusto1?
Cheap as chips load up whilst the sp is here....
3. 5p worth here minimum
the spread is big and has been for a few days. not sure if that is designed to discourage retail buying?
MM let me buy a few more now at 1.165 pence showing correctly as a buy. Still only have a small holding here but feel happy to be in. I wish the Serenity money had gone on a producing asset but I realise they have to explore occasionally.
Agreed I'm in
This train is slowly departing and I don't think we will have many options to buy this so low.
You're possibly paranoid Tacuma. I was replying to maytheforcework. But was I incorrect? Was bobbybee trying to cancel you?
Selfish, do you sit waiting for a post from me to try to cancel me? It’s just not going to happen. I rest my case regarding my previous.
S.O put £48k in the last placing at 1.8p from memory
Nothing mad about buying at these levels. Pretty savvy if you ask me.
Just bought another 600K in two deals. I must be MAD!
What we do know is that we have must have at least £4M and making good money every month.
Good luck all!
Doesn't one of them have 35 million?
M.T.Force, Pi’s here have defended the lack of buying by the Directors for as long as I can remember, they seem to be perpetually in a closed position forever. In my view it’s one of the finest signs of confidence in their own company that they can show so I agree with all of us that have equal interests as the directors in this share.
GLA as usual.
Ryan might borrow the following for his next press release:
“Pretending we haven't made mistakes, carrying on as if everyone can't see that we have made them, and hoping that things will magically come right is not serious politics. I have made a mistake; I accept responsibility: I resign”
In fairness there has been quite a few articles in Irish media the last few months.
Most get posted on the BEY boards (old PVR).
Can the directors buy in at this price or are they in a closed position as I seem to have a similar holding to them.
@Selfish. It’s an uncomfortable truth for Ireland that only indigenous gas can provide energy security during the “transition period”. LNG is highly vulnerable as it requires transportation halfway round the world and supplies will disappear into China with any crisis, pipelines from foreign countries - even friendly ones like UK will be unreliable during any widespread shortages even without the threat of Russian terrorism. Renewables are nowhere near ready to fill the gap and will always require backup. Where have all the grown up politicians gone?
Strange that Putin said recently that, following Nordstream 1 & 2 pipelines were damaged, no Western infrastructure was safe. The cable supplying phone and broadband to Shetland has been cut, after the cable from Shetland to the Faroes was cut last week. If I was Eamon Ryan I'd be worried about gas pipes in the area getting cut too and affecting the UK's ability to continue to supply 75% of Ireland's gas requirements. Is nobody mentioning this in Ireland?
Yep order filled. Brakes should come off now
I have topped up yesterday and this morning for 1.117p and 1.2p with no problems. Bargain!!!!
Nice bounce to start the morning. Yesterdays drop was just nuts. Order filled?