RE: SP predictions12 Nov 2018 23:47
Right...lets cut out this waffle over profits. I do wish new posters (StarBright) would actually spend some time researching Angus rather than just using the elephant gun approach to posting wit ha disclaimer..but if anyone can post a link. Sigh.....
2 things that dictate an oil companies value is production rate (bopd) and price of oil.
Listen to Paul Vonk as he explains:
https://www.youtube.com/watch?v=JT3HFFGzXjg
At 10 minutes 10 seconds, Vonk says:
“As a small oil and gas company we don’t pay any petroleum tax, we only pay corporation tax, but thanks because we bought the assets in 2012 there came a lot of tax losses
we actually have, you know its quite a simple calculation: Oil Price (minus) OPEX = thats your field cash flow net.”
"The Group has incurred indefinitely available tax losses of £10,413,000 (2016: £8,899,000) to carry forward against future taxable income of the subsidiaries"
http://www.angusenergy.co.uk/wp-content/uploads/2018/03/Annual-Report-and-Notice-of-AGM.pdf
Actually listen between these times to hear why Angus is ahead of any other Weald Oil Company.
8 minutes 38 seconds to 10 min 26 seconds