Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
88E is only an exploration company it will sell the oil in the ground. Usually oil in the ground is worth about $3 per barrel. 1 Bln barrels is $3 Billion. So $0.25 or £0.18p.
Obviously this would validate the 400,000 acres they own we can only guess what that might be worth.
Can I just take this moment to say "Woooooooooo hoooooooooo!. Normal service is now resumed.....
Dave announced he is leaving well in advance of today. If unsuccessful have will leave a poor man. As far as we know he is leaving though choice. He is sitting on a huge pension in Shares but only if successful.
I wonder whether a takeover deal has been done in principal... Its normal for one parties CEO to be paid to go on takeover.
Now obviously if they strike the deal will be bigger than if they don't but either way the deal would be done at a higher SP than today. While a deal is being discussed it doesn't have to be disclosed.
Is dave really going to leave at a low SP?
If a large company wanted the land etc.... the value could be a lot more.... There might be 10 such finds sitting there waiting to be discovered.
Ignoring the 400K acres etc... I believe if they find oil and they just sell it on for someone to extract it is worth minimum $3 in the ground. So 500M barrels is 1.5 Billion $.
Thats very roughly about .12 cents a share.
Brombarb I used to write equity market making software for HSBC......
Well the bid and offer come from the highest buy price quoted from the MM's and the lowest Sell.
I have access to this LEVEL 2 data and can see the lowest buy quote is actually 1.25 by broker MARX and Buy is 1.70 BEGO they are very out the market prices.
US trades will hit in next 5-10 Minutes..... interesting to see what happens.
Anyone else look at trades today. All trades are going through on the sell side of the spread so are marked as SELLs.
Is this some Market Maker scheme to make people sell ?
https://www.reddit.com/r/EEENF/comments/lz38dt/with_oil_forecasted_to_be_at_new_highs_for_years/
"The share price has never been 50p"
Well....
It was 42p on Mar 12th 2012 !
I predict.... no not SP of 10p !!!
Who are all these people.... I predict several LTH being a bit put out they there are so many new chatters on here breaking in on the once peaceful 88E chat. It's a bit like the local pub being invaded by a coach party. Jiddy there is someone in your seat mate!
If they strike oil it's worth $3+ a Barrel in the ground.
Market cap is currently only $168.m
A billion Barrels is worth $3000m.
500M Barrels is $1500M
They own vast areas which have left to be drilled potentially enormous reserves worth?
This could be worth 5p - 15p.... easy.
Well we have an hour before the London market closes... So if the US guys want to get in before tomorrow do it in the next 60 minutes . Some of the LTH (long term holders) are taking profits so nows the time to buy in 1.55 ? cheap! This keeps lurching upward and will no doubt be another leap higher on the open tomorrow.
There is no bad news this can only go up for the time being...
at 1.4 on ASX
Anyone notice AUS is up 37% we were up 67%.
Does that mean it will drop here Monday?
that should read "Ëngineers are not very good at this."
This company could really do with a marketeer. Their Reporting meeting a few weeks back was the driest event ever.
It not helped by some of them not being clearly spoken with heavy accents. The last Guy was a lot better and had more life in him.
The whole meeting could have done with heavy editing I think a lot of people would have turned off 5-10 minutes in.
What about actually showing some physical product. What about a few bits of video? A few customers saying how great you are? The slides you did have were very plain. I know you are a bunch of very clever engineers but if you hire a marketing firm or person you could be a very rich bunch of engineers with a SP 3 times higher.
Don't change what you do.... change how you tell people about it. Engineers are very good at this typically. I would imagine you have the same problem in sales?
Otherwise they would of had more input in the meeting.
and the lab results are in when.... the last lottook a lot longer than 3 months.
and the lab resultas and in when.... the last lottook a lot longer than 3 months.