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Hi Krok, I am newish to RPT. In regards to your 'future plans', is it feasible the board could take the option to stick with the current policy of making circa $23m net profit each year? This could rise to circa $28m net profit each year when the well currently being drilled is put into production in September. Add this to the $64m in the bank and you get:
In 5 years: $204m
In 10 years: $344m
In 20 years: $624m
When a company has nothing to say about future plans, it starts talking about acquisition opportunities The fact is there is nothing for Regal to acquire in Ukraine Apart from Smart Energy’s assets, obviously, that may be a good deal. And a good opportunity for Smart to cash out. If happens, hopefully the price will be fair The worst thing is Regal spends all its cash, gets debt just to acquire the asset from the majority shareholder which will prove to be a failure
Could Novinski be looking to move further assets such as Ukrgazvydobutok into Regal much like he did with Prom Energo?
This would mean Regal basically becomes Smart Energy but on a public traded platform? Regal sell all of their gas to Smart Energy
If this was his intention I understand getting Pinchuk out of the way beforehand
Krok - As I mentioned in my first post, very little given away with regards to cash utilisation (barring the few remarks regarding actively monitoring acquisition potentials and the share buyback question put forward by attendees). Drilling - from what I remember, they mentioned Mex-120 and also development of VAS field (I presume this will be funded via ops c/f) Also, referring to your previous post, I don’t think a t/o will be happening. We were told that SMART are very supporting of the Board. I’m not sure of the exact AIM rules regarding t/o (30% triggers auto t/o?) not sure if SMART were obligated to make a move. Anyhow, doesn’t seem to be in the plans. I’m not too concerned about current SP, my only concern is what is the strategy? What are RPT aiming to achieve? Unfortunately, it’s still unclear so I hope the Board will improve IR very soon and provide clear guidance and understanding of the story.
Pellidona Services Limited (Cyprus), which is part of Smart-Holding Group, has increased its shareholding in Regal Petroleum plc, a public company whose shares are listed on the London Stock Exchange Alternative Investment Market (LSE AIM), from 54% to 82.65%.
A package of 91,868,182 shares was acquired from a major shareholder of Regal Petroleum plc, KYLESTONE LIMITED, as part of the business development strategy for Smart-Holding's hydrocarbon production business. Pelidona Services Limited does not intend to continue further purchase of shares on the market.
The results of the deal will not have any impact on Regal Petroleum’s corporate governance and its status as a public company. No changes in the board of directors are planned. Regal is showing good performance and will continue to be the backbone of Smart Holding`s gas production business. Its development strategy envisages both organic business growth by increasing production at existing deposits and the acquisition of new assets. Maximization of total income of all the business’s shareholders should result from the implementation of this strategy.
Smart-Holding is confident that deeper integration with public platforms for placement of shares is a tool for increasing capitalization. It will give the gas production business greater stability and will open additional opportunities for mutually beneficial cooperation with new institutional investors.
Reference:
Since 2011, Smart-Holding has been developing projects in the sphere of oil and gas production, as well as alternative energy, as part of a strategy aimed at diversifying its investment portfolio. In 2012, these projects were merged into a new, promising business area Smart Energy.
The oil and gas business block of Smart-Holding is represented by Regal Petroleum, a public British company with assets in Ukraine, as well as by a Ukrainian company Ukrgazvydobuk.
Pelidona Services Limited (Cyprus) is the parent company for enterprises engaged in gas production in Smart-Holding.
100% of Pelidona Services Limited is owned by Lovitia Investments Limited (Cyprus), which, in turn, is 100% owned by Vadym Novynskyi.
Pellidona Services Limited (Cyprus), which is part of Smart-Holding Group, has increased its shareholding in Regal Petroleum plc, a public company whose shares are listed on the London Stock Exchange Alternative Investment Market (LSE AIM), from 54% to 82.65%.
A package of 91,868,182 shares was acquired from a major shareholder of Regal Petroleum plc, KYLESTONE LIMITED, as part of the business development strategy for Smart-Holding's hydrocarbon production business. Pelidona Services Limited does not intend to continue further purchase of shares on the market.
The results of the deal will not have any impact on Regal Petroleum’s corporate governance and its status as a public company. No changes in the board of directors are planned. Regal is showing good performance and will continue to be the backbone of Smart Holding`s gas production business. Its development strategy envisages both organic business growth by increasing production at existing deposits and the acquisition of new assets. Maximization of total income of all the business’s shareholders should result from the implementation of this strategy.
Smart-Holding is confident that deeper integration with public platforms for placement of shares is a tool for increasing capitalization. It will give the gas production business greater stability and will open additional opportunities for mutually beneficial cooperation with new institutional investors.
Reference:
Since 2011, Smart-Holding has been developing projects in the sphere of oil and gas production, as well as alternative energy, as part of a strategy aimed at diversifying its investment portfolio. In 2012, these projects were merged into a new, promising business area Smart Energy.
The oil and gas business block of Smart-Holding is represented by Regal Petroleum, a public British company with assets in Ukraine, as well as by a Ukrainian company Ukrgazvydobuk.
Pelidona Services Limited (Cyprus) is the parent company for enterprises engaged in gas production in Smart-Holding.
100% of Pelidona Services Limited is owned by Lovitia Investments Limited (Cyprus), which, in turn, is 100% owned by Vadym Novynskyi.
Trx_01, is it correct there has been no specific info at the AGM on how cash is going to be utilized? Anything on future drilling plans? VAS reserves update date?
Unless Novinskiy wants to exit or his stake is used as a collateral (both highly unlikely), he should not care much about the current share price. 35p or 65p makes mo difference to him personally. Unlike us Low price is actually better for him if he considers taking the company private Given the currebt liquidity and freefloat, even $2-3mn would make an impact on future liquidity
Just to clarify; 1. Share buyback will not be to the level which will be a detriment to liquidity in the stock. Board get this 2. Will Novinsky rather hold 82% of Mcap £111m or a lower % of a Mcap upwards of £200m+? I think we all agree that he would like more bang for his buck 3. Buyback will need to be discussed with Novinsky. I’m not suggesting it is a done deal BUT I believe the Board are aware and it is a possibility. Personally, I think this strategy should be explored further to provide real capital growth to all S/Hs
Dont believe in share buyback, makes no sense from Novinsky’s point of view Will altogether kill what is already a very narrow liquidity
trx 01
Thank you, much appreciated.
very informative
Thankyou trx much appreciated.
Below are my thoughts from the AGM which I attended; 1. Board understand there needs to be better IR, working on making improvements in this area (one example given was to improve the website) 2. Impressive cash flow but very little given away regarding what they intend to do with the cash. Some hints around possible acq and share buyback 3. Board pushed heavily to work with Novinsky to ultimately enable share buyback resulting in capital growth for all S/Hs. Think we all agree that Novinsky would rather hold less shares of higher total value than vice versa 4. Any acquisition is likely to be in and around the same region where their expertise reside 5. Seemed comfortable with things going their way with regards to the VAS license suspension a few months back. Waiting on court proceedings/dates 6. Now that there is only 1 majority S/H, it makes things a lot less complex. This should help RPT massively going forwards 7. Overall feeling from fellow AGM attendees is to continue to hold. The scope for major upward movement in SP is inevitable 8. If I recall correctly, I don’t believe any dividend is on the cards. I think a share buyback is a distinct possibility. Whilst speaking to BaronDayTrading after the AGM, he stated that he had a direct one to one with the Senior board members and they get the message now. Hope this helps. I for one am still holding. Some prominent S/Hs at the AGM are of the belief that the SP should be around the 80-100p mark right now. So a lot of value at the current price.
Final top up for me. Showing as a sell
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I personally think we have hit oil, Our billionaire investor seems very keen and probably bought his final batch from pinchuk at a premium!!! No way he got them at the same price pinchuk bought them at!!
Not many shares in circulation, don’t be fooled by selling at a loss, hold tight will pay off! We should start to pick up ahead of news next week. Cash update, CPR update imminent, will go boom when sellers are done and market makers have grabbed enough shares on the cheap. Not to forget the oil spud. Results in 8 weeks might get a update sooner !!
Right now I have no understanding of the real operational ambitions of this business, which is a shame given:
a) The declared and growing cash balances;
b) 2019 forecast performance given Q4 2018 outcomes;
c) My exposure!
Can anyone help me?
Could get my price, will be brushing these up if it drops further. News we’ll overdue on cpr update , and suspension of oil field, won’t be a problem for our billionaire share holder to pull a few strings and get this sorted. At these prices it’s a buy !!
The point being this site is a joke.
Lol did you see yesterday’s 57k buy @ 39.8 and closed @ 37.9
Yesterday's close - 37.9
Today's close - 38.05
Anyone on here go today ? Would appreciate any feed back please.
It’s getting a bit of a joke how the f can you have a 50k buy above the ask with sweet fa in between and finish down ffs