The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
$61m, an increase of $5.3m for Q4.
Hey All,
I have looked closer at the production figures and this is what I have found.
The Interim Results stated production between 1st July and 10th Sept was 3799 boepd. This was slightly lower than expected and appears due to MEX-106 being offline due to workover, which was successful.
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/RPT/14225155.html
The Ukraine Update (10th Oct) stated production between 1st July and 30th Sept was 3889 boepd.
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/RPT/14260655.html
This means production averaged 4213 boepd between 11th Sept and 30th Sept. Imo this is due to MEX-106 being back online.
With new well MEX-119 producing 1070 boepd, current production is now 4213 + 1070 = 5283 boepd imo.
Awaiting the outcome of MEX-120 which should be very soon. I am now guessing this will increase production to 5400 boepd.
Gas prices increased further today (2.5%)...
Latest production figure of 3889 boepd:
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/RPT/14260655.html
Now topped up by new well MEX-119 by 1070 boepd.
Therefore current production of 3889 + 1070 = 4959 boepd.
Awaiting the outcome of MEX-120 which should be very soon. Could this increase production to over 5000? I am guessing 5100 boepd.
Over to the price of gas now. Can it continue its upward trend of the last few weeks?
Just to counter a few fibs out there, nothing more...
See Earthport (EPO)
Fri 21st Dec 2018 - Closed 7.69, very low volume
Monday 24th Dec 2018 - Closed 7.45, very low volume
Due to Bank Holidays, next trading day:
Thursday 27th Dec 2018 - Closed 28.2, due to.........
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/other/13915803.html
You're welcome :-)
Regarding the stepping down of Sami Zouari, Chief Financial Officer (CFO); Jaap Huijskes, Chairman of the Company, said, "We wish Sami well for the future and look forward to an orderly handover to his successor over the coming months".
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/GKP/14095207.html
As Sami will be leaving no later than 2 December 2019, it is rather interesting no successor has been announced, 3 months into Sami's notice period. As each day passes, an orderly handover diminishes.
Is this intentional?
Current cash resources of circa £59m.
Potential for boepd to rise to circa 5000 in September.
Therefore potential for Net profit to be circa £2m per month from September onwards.
Current Market Cap of £105m.
On this basis, Cash resources to exceed the current Market Cap within 2 years.
Further drills planned within the next 2 years, therefore boepd should rise further, thus net profit should rise further.
Does anyone here think now would be the best time for Smart Energy to make an offer, from their perspective?
The previous new MEX-GOL field well (MEX-109) increased production by 875 boepd:
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/RPT/13285148.html
The current drilling and testing of new well (MEX-119) is due to be completed by end of September.
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/RPT/14137670.html
If this is as successful as (MEX-109), average daily production for RPT should rise to circa 5000 boepd and Net profit should be well on its way to £2m per month.
That's not bad imo.
Just determining the current cash position.
As per the 5th July RNS, the Company's cash resources at 30th June were approximately $67.9m, comprising $28.3m equivalent in UH and $39.6m.
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/RPT/14137670.html
Using current exchange rates and estimates of profits for July and August which I have taken into account slightly lower gas prices;
Current cash is circa £59m.
I therefore see September as the month this figure rises above £60m.
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/RPT/14137670.html
Hello All, I would like to mention two things regarding GKP which may or may not be relevant, dependent upon agenda/opinion.
Earthport (EPO) was taken over. The shareprice before the 'offers' demonstrated zero insider information.
Everyone that posts on this board or the other one has a financial interest in GKP.
A few trades going through NEX:
https://www.nexexchange.com/member?securityid=18800
The use of wording used by many posters on this board suggests we are in the company of a few 'experts'. We are blessed.
I would like to highlight something that has surprisingly been MISSED though by our 'superiors', or should I say dressed up as something else. From the official information disclosed by RPT, it is clear to me production fell in April, but returned to full capacity in May and June. I am sure you can all crunch the numbers and reach the same conclusion. Why do you think that might be? Maintenance of a particular well is a valid reason imo, a norm in any oil/gas field. Any offers?
Hi Bangrak, your net profit figure for RPT is incorrect.
Apologies, amendment:
$67.5m is my guess.
15 years of stagnation and cash balance will be $416m imo.
Alternatively, lease rigs from Smart Energy and drill 4 additional wells per year, each adding $5m per year to the cash balance, is there if they want it imo.
$67.5m is my guess.
15 years of stagnation and cash balance will be $555m imo.
Alternatively, lease rigs from Smart Energy and drill 4 additional wells per year, each adding $5m per year to the cash balance, is there if they want it imo.
Is it feasible the bod could opt to maximise their current assets by pursuing an accelerated drill programme?
Perhaps lease idle rigs from smart energy and drill 4+ wells per year?