Member Info for 1750mk1

So I wonder if these Rockrose tweets linking to and quoting an article from a few weeks ago are hinting at progress on potentially increased production and reserves along with extended life at Foinaven.

"Foinaven is scheduled to have production cease at the end of 2025. All forecasts have
been truncated based on this assumption, although the partners are examining ways
of recovering post-2025 the material discovered hydrocarbons that will be unproduced
at this date."

"Reserves have been forecast for Foinaven using trends of WOR against the
cumulative oil on an individual basis. The main activity that impacts the forecast is the
removal of produced water re-injection constraints that currently impact production.
These constraints are scheduled to be lifted following the TAR planned for the third
quarter of 2019 which will enable additional wells P24 and P26 to resume production
and for wells P15 and P27ST to be flowed harder as they are currently choked back
due to them being the largest producers in the field."

https://d1ssu070pg2v9i.cloudfront.net/pex/rockrose2019/2019/07/19124817/RockRose-Readmission-Prospectus-19-July-2019-clean.pdf (page 72)

" including extending the life"

Indeed ... Rockrose tweeting quotes from the article now., presumably having realised it needs subscription to see it all and they would like it to be seen...

"Upstream - BP regional North Sea president Ariel Flores “We have a lot of concepts we are currently evaluating.....There are barrels there but we know we have to produce them differently going forward.”

Upstream - BP regional North Sea president Ariel Flores said this week the UK supermajor is carrying out early conceptual studies looking at a number of possibilities, including extending the life of the existing and ageing FPSO or seeking a new purpose-built vessel.

https://twitter.com/rockrose_energy

It does seem a bit odd to tweet the link today but I assumed it may perhaps be looking towards extending the life or increasing production.

"BP is in the early stages of considering options for the future of its Foinaven field:"

https://twitter.com/rockrose_energy/status/1176892893082071040

https://www.upstreamonline.com/online/bp-mulls-future-of-foinaven/2-1-666338

I'm with you on that MT.

http://haloil.co.uk/wp-content/uploads/2019/09/2019-09-25-HALO-OND-Proposed-Acquisition-RNS.pdf

The proposed deal would boost Halo’s reserves by 2 million barrels of oil equivalent (boe) and provide 800-1,000 boe per day of production by the end of next year.

Halo would receive 7.9% of the Sillimanite development, straddling the Dutch and UK median line in the southern North Sea and operated by Wintershall Dea.

The firm would get a further 0.85% of the so-called joint development area (JDA) in the Dutch SNS, taking it to 10.8% in total.

The deal also raises Halo’s stake the Western Gas Transmission pipeline system, including the onshore Den Helder gas processing facilities, by 2.34% to 11.22%.

Furthermore, Halo would receive 4.167% net profit interests on blocks in and adjacent to the JDA.

Halo interim chief executive Andrew Cochrane said: “This proposed acquisition represents a unique opportunity to add to the existing portfolio as well as expanding it within our established core areas, including transportation and infrastructure.

https://www.energyvoice.com/oilandgas/north-sea/208446/halo-strikes-7-8m-deal-with-one-dyas-for-north-sea-stakes/

Valuation: ~100% upside to our risked NAV and on 2x EBITDA in 2020
Our risked NAV of £37/sh implies almost 100% upside from the current share
price. Using a 10% discount rate, we value 2P reserves ~£44/sh. Other positive
contributors to risked NAV include unrestricted cash of £17/sh, restricted cash
of £5.5/sh, the value of tariff income of £7.5/sh and risked 2C resources of
£3/sh. The negative offsets associated with decommissioning, pensions and
G&A amount to a ~£41/sh drag on our valuation. However, we see downside to
the decommissioning liability by reducing the actual cost, or from a higher
discount rate than the 2% we have used (e.g. lowering decommissioning costs
by 10% and using a 5% discount rate would add >£10/sh to our NAV).
Adjusting for long-term liabilities in our EV calculation, we see RRE trading on
a 2.1x EV/EBITDA multiple in 2020E (pro forma H1’19 EBITDA was
US$116mm). We also estimate FCF of ~US$50mm and an FCF yield of 15% in
2020E.

https://gallery.mailchimp.com/110d0aa5f5d9bf9478796664e/files/b6c65339-2d24-4643-bbeb-06489d02cde5/RockRose_Energy_Earnings_2019.09.23.pdf?utm_source=H%26P+Master+Contact+List+%28Sements+and+Tags%29&utm_campaign=6b2a482c99-EMAIL_CAMPAIGN_2019_07_02_10_23_COPY_01&utm_medium=email&utm_term=0_dd4f91613c-6b2a482c99-98981107

just bounced off the 200

"Yes I genuinely thought the sp would be over £20 today but it isn’t, so what? "

The day is young.

Soberman... your total lack of any meaningful contribution, incredibly poor attitude to others and absence of the remotest hint of social empathy has been engaged with well meaning and friendly humour by other folks that post here. I feel like you have been given the benefit of doubt but it's increasingly apparent that you are just an unpleasant and rude character who is not very bright. GL with your investment.

I doubt it.

It's a liquidity event and we have several million £ worth of stock still to get through with closer to £18 imo.

it's everyone's view you prize goon.

Key difference for me is that I'm not waiting for the market to 'wake up' nor do I find it baffling that the SP is not trading much higher. *yet ... my view is simply that there are huge sell orders being worked since relist / re-rate due to Cav (and Macq to an extent) being instantly way overweight as a result of said re-rate and the SP will trade in the recent range until they are cleared

If if sell price av is say 17.5-18 they are not going to let it go to £25 whilst still drip feeding as it will take the average up.

We'll see what happens when they are done ... my personal view has not expected that 'till Oct.

Of course... acquisition news could change that very quickly at any time.

no idea what or where that is... got a link ?

Valuation: ~100% upside to our risked NAV and on 2x EBITDA in 2020
Our risked NAV of £37/sh implies almost 100% upside from the current share
price. Using a 10% discount rate, we value 2P reserves ~£44/sh. Other positive
contributors to risked NAV include unrestricted cash of £17/sh, restricted cash
of £5.5/sh, the value of tariff income of £7.5/sh and risked 2C resources of
£3/sh. The negative offsets associated with decommissioning, pensions and
G&A amount to a ~£41/sh drag on our valuation. However, we see downside to
the decommissioning liability by reducing the actual cost, or from a higher
discount rate than the 2% we have used (e.g. lowering decommissioning costs
by 10% and using a 5% discount rate would add >£10/sh to our NAV).
Adjusting for long-term liabilities in our EV calculation, we see RRE trading on
a 2.1x EV/EBITDA multiple in 2020E (pro forma H1’19 EBITDA was
US$116mm). We also estimate FCF of ~US$50mm and an FCF yield of 15% in
2020E.

https://gallery.mailchimp.com/110d0aa5f5d9bf9478796664e/files/b6c65339-2d24-4643-bbeb-06489d02cde5/RockRose_Energy_Earnings_2019.09.23.pdf?utm_source=H%26P+Master+Contact+List+%28Sements+and+Tags%29&utm_campaign=6b2a482c99-EMAIL_CAMPAIGN_2019_07_02_10_23_COPY_01&utm_medium=email&utm_term=0_dd4f91613c-6b2a482c99-98981107

also a nice touch...

"The Arran development project is progressing well and is on time and below budget for first gas in the first quarter of 2021. Total spend for 2019 will be lower than budget due to timing of contract awards. In addition, total development costs have been reduced due to lower well and subsea costs. The operator, Shell, continues to work on reducing costs further."

'pre-coffee' maths

eh ? ... not sure how you make 85p 10% of £20 Rookie.

Surprised that a divi was actually dropped straight away (ex div Oct 3rd for 60p interim)... I'm not invested in RRE for a divi, I leam more towards seeing it it pumped back into the machine to drive growth, that said, we have plenty of ammo for the continued growth and II think its a sensible level for a divi at this stage.

1900-1906 ... miniscule spread