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Have increased significantly from the previous year,
absorbing all the small print in the results, shows the Company is significantly undervalued, imo
At least theres no nasty surprised as in the past
Happy with results update, think most of the bad news is now in the past , JSE looks like it has turned the corner
I would think that going forward this will rerate when gas from Akatara is flowing into sales pipeline
Could be a good investment at current Sp ,imo be nice to see a couple of broker updates
GLA LTH
Added another 2500 shares into ISA share account for accumulative growth. over the next few years if were still around that is??
Could TYRUS take us private?????
Very well covered in 2024, The STAG oil premium over$15 per barrels, puts the selling price around $105 dollars per barrel.
with a new drill planned later this will generate a decent amount of free cash going forward
JSE not for widows orphans or Charlie boys !!! everyone else can pile in
Exactly last year they produced around 13kbopd, q1 2024 they produced 17kbopd. So already massive improvement. Adding 70m to mkt cap will add 50% to share price.
They are doing ok, akatara will be up in around 8 weeks.
Sparmada the update as you call it , was last years results, this year will be completely different, watch this space over the coming months!!!!, ill come back and remind you in the summer !!!!!!
As an lth at a higher average than today, I had hoped that today would see robust current production and the end of last years issues but they didn't quite manage it unfortunately. Also, I couldn't see any free cash forecast update in any presentation but maybe that was on the webcast ? The company looks undervalued but has poor trust levels which is maybe why there is no cash flow forecast as they are uncertain on Akatara. It still feels a long way from the heady days of dividends and buy backs, and the balance sheet needs restoring whilst oil prices are firm. They need to execute really well at Akatara and deliver some cashflow upside to get the share price premium back.
Placing a $5 dollar fire sale price on the resources would see a MCAP of over $500 Million
JSE looks like a potential takeover at current Sp,imo
Charlie cant see the trees for the forest. he is still hurting from his top ups in the 90p, levels , he wont have too long to wait for the Sp to reach new highs in 2025
The most important statement today, says it all , imo
"With stronger oil prices so far this year and our production growing, we expect 2024 to deliver a much better outcome, with the recent March 2024 RBL redetermination setting a borrowing base of US$200 million for the next two quarters, more than double the predicted lending capacity for this period only a year ago and underpinning near-term liquidity".
The banks fully support the Company and its ambitions going forward,
with over 100 Million 2c resources THE ASSET VALUE multiples of present Mcap
Very Strong buy!!!!!imo ill be adding more over the coming weeks
Roxi trying to pump this again. The update was bad, don't try to suggets otherwise, not because of 2023 but because the lower 2024 guidance and worse than expected result in Q1
Akatara
Overall progress of the project had reached 95.72% completion at the end of March 2024. Pre-commissioning and commissioning activities commenced in November 2023 and continued into early Q1 2024 for utility systems, with further progression towards commissioning for the process system. Commercial production remains on track to start in Q2 2024.
If Roxi had been captain on the Titanic, he would have informed passengers as the ship went down that it was their privilege to go down on such an august vessel.
Charlie
Facts are they are producing over 17kbopd now. Mkt cap is 140m.
Akatara wells are being tested and they have stabilised rates of 30mmcfd, 2023 bad news is out of way. Now the summer recovery.
Lousy Q1 production, Akatara delay probable, finance costs through the roof, have I missed anything?
That trade of 510k shares was booked at 8.59 when the bid was 26p, however, immediately afterwards the bid moved up to 26.5p - and within the following 20 minutes, four buy trades went through totalling 800k shares.
Someone not quite seeing it as our resident super ramper Roxi, a 500,000 sale just gone through.
Better than me Kalan, I've been holding this for years at an average of north of 50p! Haven't got funds to average down atm [personal expenses have rocketed recently], so gonna hope the next couple of years treat Blakley and me well!
They have two months to go yet they state in the rns it would be completed in time
How much will they get for 1mcf?
The CEO says there is still a lot to do at Akatara so, IMO we may overshoot the end of June deadline for gas a little. Once Akatara is delivering gas then we will probably see a rise in the share price. A bit of gyrating between 25p and 30p could be on the cards for the next few weeks. Just my opinion.
I've invested my maximum here at an average of 28.75p, not buying or selling.
Thanks Sea1 maybe thats why the sp is on the way up again,wouldnt be surprised if it turns positive soon
Won't be surprised if we see Directors buying shares over the next few weeks
Nice to hear on the presentation that there are demands from others on akatara gas - PB indicated that they already have capacity to offer gas to a second contractor at 20% premium and there are demands for more- they are potentially going to be looking at upgrades in the future to meet demands.