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Housekeeping up to date and Wales are through to the world cup a good evening
Good luck for June
ihowell
arcm 4.55 4.7 0.15 0.032967033 3.296703297
sav 4.4 4.3 -0.1 -0.022727273 -2.272727273
tern 14 13 -1 -0.071428571 -7.142857143
Nolupus
imm 6.35 5.95 -0.4 -0.062992126 -6.299212598
iqai 4.35 4.25 14.25 -0.1 -0.022988506 -2.298850575
dnl 14.25 12.25 -2 -0.140350877 -14.03508772
xv
pxen 4.4 4.4 0 0 0
radison 0.18 0.12 14.25 -0.06 -0.333333333 -33.33333333
eog 2.55 2.5 -0.05 -0.019607843 -1.960784314
1509
copl 20.22 22 1.78 0.088031652 8.803165183
knb 5.12 4 -1.12 -0.21875 -21.875
trls 18.5 20 1.5 0.081081081 8.108108108
Must have been a tricky month,
Finally I picked a couple of positive shares
Top 3
1509 copl 8.8
1509 trls 8.1
ihowells arcm 3.29
My picks for June
copl
angs
clon
Percentage figure is the last number on the right
BoJo
agl 107 103 -4 -0.037383178 -3.738317757
ggp 13.3 13.3 0 0 0
sclp 10.75 14.25 3.5 0.325581395 32.55813953
ihowell
arcm 3.45 4.55 1.1 0.31884058 31.88405797
sav 4.62 4.4 -0.22 -0.047619048 -4.761904762
tern 12.5 14 1.5 0.12 12
John
pxen 4.64 4.4 -0.24 -0.051724138 -5.172413793
copl 25 20.25 -4.75 -0.19 -19
evg 4.25 3.5 -0.75 -0.176470588 -17.64705882
Nolupus
stx 20.25 17.75 -2.5 -0.12345679 -12.34567901
dnl 15.5 14.25 14.25 -1.25 -0.080645161 -8.064516129
evg 3.75 4.15 0.4 0.106666667 10.66666667
xv
eisb 5.85 7.05 1.2 0.205128205 20.51282051
radison 0.19 0.18 14.25 -0.01 -0.052631579 -5.263157895
sar 127.5 220 92.5 0.725490196 72.54901961
copl 25 20.25 -4.75 -0.19 -19
knb 6.5 5.12 -1.38 -0.212307692 -21.23076923
trls 19.5 18.5 -1 -0.051282051 -5.128205128
Difficult times, a line of hopefully positive news is due to come out for copl. Court decision confirmation on Cuda. Ryder Scott report, formal completion on Cuda transfer and confirmation of RBL.
Imo bad news is out of the way, positive from here, a good level to buy in.
Anyway
Well done to everyone - xv withe a 72.5% jump.
xv sar 72.5
Bojo sclp 38
ihowells arcm 31.88
Full result in next post
Hi
Sorry about not posting April’s result I will Be on it tomorrow with May’s
If you are feeling up to it let me know your picks for June
Dbh
Are you after the oil production figure for April?
If you are I think it was around 50764 barrels
http://pipeline.wyo.gov/AllOpcoProd.cfm?oops=ID11285&RequestTimeOut=65000&nOpco=1769
Morning
I like twitter but never rely on information contained in a tweet
The tweet was posted just after 9.30 am on 26 May.
Wyoming is 7 hours behind the Uk so the the court case was scheduled for 17.30 Uk time.
I hope we will find out today
Alb
The ducks are lined up.
When they start to get knocked down one by one, surely the rerate will start to happen
1 US court approval
2 RS report
3 Formal completion of the Cuda purchase
4 RBL agreed
It looks like Canada has heard something, tomorrow should be interesting
I am confident that AM would not commit to a bridging loan if a RBL was not lined up.
Alb
My take
RBL just about nailed on, he mentioned being in a closed period pre loan agreement.
AM happy with his buy in price as he knows whats coming.
The warrants attached to the repayment of loan are not based on the shares in issue. This is a big relief for me.
The valuation based on accepted formula post Cuda $379m.
AM and his team appear to have a clear and confident plan and outlook for the future.
The terms and conditions of existing loan sound like a nightmare
Following the presentation I am very happy with the way things are within the company
Just hope the market likes it
Alb
Good and not so good.
Not so good
From the last qtrs results it looks like we are hedged 416,772 barrels Jan 1/23 to Feb 29/24 $52.87 only good thing I can see is that AM must be confident we are going to hit 416,772 barrels.
The good, we are hedged for butane :-
7,917,746 gallons Apr 1/22 to Dec 31/22 $0.7675
9,921,552 gallons Jan 1/23 to Feb 29/24 $0.6700.
From what I can gather the price of butane is around $.90c per gallon.
With us now cutting back on the use of Butane there seems to be a fair bit of profit here. If we only use half of the hedge for 23/24, if the price stays the same that's circa $1.39m gross profit
Morning
There are so many catalysts which could lead to a re rate.
I am hoping that the documentation to put in front of commercial banks for the rbl has been prepared and presented to the banks. So possibly an offer in principle may have been made.
Any offer will rely and the legal transfer of Cuda to Copl. Assuming the court gives its approval then legal completion say 4 weeks from the court date.
I hope AM would release a rna to say they have agreed a rbl rather than wait until the rbl has been completed. If the former then I hope for the rna mid /late July.
If Vaalco can get 6% above libor for its West African production I should thin our percentage rate should be lower.
Before rbl announcement news to come cpr, Cuda court news, completion of Cuda legal transfer possibly Q2 results
Alb
26th May scheduled for 10.30
https://ecf.wyb.uscourts.gov/calpjm42.pdf
I think it is an interesting comparison.
I feel that copl has now got a firm foundation to move into sustained growth and profitability. It will hopefully catch up Vaalco in terms of its financials
But the risk for the rbl lender - West Africa vs Wyoming