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Had to clarify the below as Geordieshores posted false information below regarding the company not turning a profit.
From the half year report published on Aug 20th 2019
Financial:
· Revenue of US$174.2 million (H1 2018: US$191.5 million)
· Net operating cash flows of US$116.8 million (H1 2018: US$99.9 million)
· EBITDA of US$110.2 million (H1 2018: US$113.2 million)
· EBITDA margin of 63.3% (H1 2018: 59.1%)
· Closing cash for the period of US$120.8 million (Q1 2019: US$75.7 million)
· Total debt of US$1,132.9 million and net debt of US$1,012.0 million as at 30 June 2019
Kai-Uwe Kessel, Chief Executive Officer of Nostrum Oil & Gas, commented:
"Financially H1 2019 was strong with oil prices averaging US$66.20 per barrel and this meant we continued to generate operating cashflow in excess of our target and remain on course to end the year with over US$100m of cash. Operationally, we are moving ahead with testing the Frasnian section of well 41, which is the same horizon from which well 40 produces. The well needs further cleaning and a long-term test before we can confirm commerciality. On well 42, two reservoirs have been tested that confirmed gas-condensate saturation but without commercial flow.
Revenue, EBITDA and Profit for the Period
Revenue from sales of crude oil, stabilised condensate, LPG and dry gas over the period amounted to US$174.2 million for the reporting period, a decrease from the H1 2018 figure of US$191.5 million. This is mainly explained by a 7.1% decrease in the average Brent crude oil price during the period. EBITDA was US$110.2 million with an EBITDA margin of 63.3%. Profit for the period was US$6.1 million.
Revenue, EBITDA and Profit for the Period
Revenue from sales of crude oil, stabilised condensate, LPG and dry gas over the period amounted to US$174.2 million for the reporting period, a decrease from the H1 2018 figure of US$191.5 million. This is mainly explained by a 7.1% decrease in the average Brent crude oil price during the period. EBITDA was US$110.2 million with an EBITDA margin of 63.3%. Profit for the period was US$6.1 million.
Well said btb - touching on director buys, the following were made by Mike Calvey as a Director of NOG
Date of the transaction
Purchase of 470,790 shares on 13 September 2018
Purchase of 1,067,210 shares on 14 September 2018
At a price of 249p and 247p respectively.
This was only a year ago.
Without going into huge detail I dont think the attractiveness here is in profitability. Clearly this company though has value somewhere otherwise the IIs would not presently be buying .Previously there were bad results plus a duster and IIs selling down as cinfudence was eroded. Even more ridiculous Standard Life selling in single figures. As you know the shorters also had their hooks in here. There are no shorts open now.
There is A large £1B debt and the exec are looking into this with a view to creating value for shareholders
The debt is manageable presently as there is plenty of cash in situ
Some of the exec bought in the region of 245p.
I understand that the net assets are worth in excess of £300M but I haven't checked this but IMO £48M is a crazy capital value.
As you are aware some very large buys are going through so pressure is mounting.
Confidence is now returning and therefore the sp is rising inexorably back to higher levels
Some chartists are saying there is nothing to prevent this rising to 40/70p once we are through 25p!!
IMO This is a strong buy for a non AIM share with 8.5s being provided daily so any change in holding is seen pretty much immediately.
Have you bought in and if so at what price?
Nostrum made a Net Loss of £120m in 2018. Predicted to make £22m profit in 2019. Hasn't made a profit since 2014 (£156m profit).
Has small Market Cap (£41.9m) but an Enterprise Value of £823.9m because it has just ovet £1 billion of debt.
Net profit for last six years with 2 years estimates.
2013 2014 2015 2016 2017 2018 2019E 2020E
219....146....-94....-83.....-24...-120....22.1.....18
Will they have made £18m net profit this year? In 2017 they made a £24m loss yet share price was 519 at peak.
Who can give the best reason why this share should re-rate?
2017 (£24m loss)
Jan 426p
Jun 519p
Dec 325p
2018 (£120m loss)
Jan 318p
Dec 110p
2019 (??)
Jan 104p
Oct 24pp
Nice work! Looking forward to next week - exciting times - we will get to 30/40’s easy next week imho DYOR
Dropped off in the afternoon but all in all a solid day. This will continue to rise next week. Have a good weekend
We’l get there for sure. Someone been adding 25k tranches all day
another TR1 to pop up today!! We'll get there, that's 40p minimum!
In the north where were currently producing and selling from, theres 2bn worth - many more areas and wells to explore such as last weeks failed one. Thats not the reason the price is where its at though - debt is easily managed with the money turning over here, the main reason for decline in SP was due to an insti selling.
take all mine in one hit 50k's worth!!
Lol wiseinv - not very wise are you!
So which area were they spudding?
Which area are they currently producing from? With a turnover of 200 million? What was their balance sheet looking like end of H1 (plus 130million).
Get a grip you fool
We should be realistic about nog.
Share price before spudding was 13p, after spudding went to 5p....
Debt has risen to over $1bn
IMHO a share price round 10p is more realistic until they clear some issues
Seems MM’s have taken off the autopilot had their lunch and we’re back in business. 30’s here we come - exciting afternoon! Imho DYOR
Are they really lifting the bid on sells you think? Really soaking this many sells up without somebody hovering them up?
Bid just jumped from 25.30 to 25.60 - insti’s are buying in the background as they have been doing all week.
Patience here will be rewarded. Sellers will return this afternoon. Massively oversold and rerate in motion now. GL holders
Sellers have dried up or given themselves a backhander. Buyers will be back after lunch and we’l get back on this horse. Happy days
I believe the new support is now 24.5-25p so you need not worry too much. GL
Great end to the week :-) they are going to try and shake a few out before close today but stand firm IMO the lower support has moved to 21p now so if we get a shake out down there i for one will double up lol
Mm’s have swallowed up so many shares between 26-27 its crazy. Watch those sellers return to buy at first sign of takeoff.
Pointless risking trading a share thats moving up on such little volume, thats oversold massively and is in the process of rerating.
Whether its an hour, a day or a week. This will get past 40p in super quick time.
Adam well done , prospects here is enormous. Feel that 50p is first stop
I dont think posts are removed unless reported.
Mm’s soaking sells up and refuse to move the ask here in anticipation of a rise this afternoon. Minimum we achieve is 30p. GL holders
Sorry guys wrong board - getting my NUOG and NOG boards mixed up - can you remove previous post admin - thanks!
Thats NUOG not NOG.
Not showing here yet? Now over 3% today! Boom!
Hearing RNS on its way. Could see the herd pile in here.