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"At a time when Brent crude is around $83 and even Natural Gas profitable, I genuinely think that it is IF AND NOT WHEN that Zephyr delivers for its shareholders with a significant success at the Paradox Basin. "
Auctus: "Over the last two weeks Zephyr has retrieved ~500 feet of tubing"
So considering only 500ft of tubing was retrieved according to the actual RNS, that means that nothing happened for the 3 weeks following the placing RNS???
They accidently filled his bin bags with Helium...very sad.
Adon his name was actually Juan and he was defenestrated at the Donkey sanctuary because Putin blamed him for something, or I maybe mistaken and he went to Russia and was actually responsible for one of the many 'smoking related' explosions since the war began.
Adon is completely correct (may have to drop the dead donkey though ;-) ). Page 19 of the April presentation is a map which will help those who appear to be struggling re infrastructure.
Zephyr infrastructure is in place, and IS connected to the Dominion 16" pipe, but needs to be refurbished before any export.
As soon as the Dominion 16" pipeline refurbishment has finished (yes, a separate refurbishment), any export can RECOMMENCE (it was all there and working up until a few years ago) and this does not depend on the Green River extension.
Sadly I'm heading in the other direction. I've heavily reduced my holding after the last RNS.
The issue with the rate of pipe removal warranted a far better explanation IMHO. You don't drop from removing 140ft a day to 15ft a day without good reason (well beyond the obvious 'safety first'). Especially when they they clearly didn't envision any problems that would have prevented the commencement of the production test by the end of June.
Still holding 500k but keeping a distance until this issue is clarified. We've always known that meaningful progress won't be until the likely pipeline connection at year end anyway.
Another 'family' member selling out! Is that mansplaining Ms Ritchie???
What a bad joke this company has become, hidden profit warnings and 'family' selling up!
Another 'family' member selling out! Is that mansplaining Ms Ritchie???
What a bad joke this company has become, hidden profit warnings and 'family' selling up!
Cleared?
Ms Ritchie, I would concur with your suggestion that shareholders should speak to your husband.
They should start by asking him why he introduced the Interim Results containing the most underhand method of giving a profit warning. Simple removal of the previous reference to it.
Low. About as low as it gets. FACT.
Thanks for posting Claire, and I am in total agreement that facts are far better to have than news vacuums, which is exactly the point I’ve been raising.
There has been an utter void of news around this recent succession of negative news events and those vacuums are the responsibility of management, and as your post highlights so strongly, the 'family' which are intrinsically interwoven.
Like it or not, when a company goes 'public' for funds, there are obvious consequences of increased scrutiny from that wider set of investors. Questions that those investors are entitled to have answered fully and honestly.
The facts in the current circumstances do remain highly important: let’s look at them:
1) Fact. The company currently sits at 40% of the value it was 5 years ago. And yet it is now, at these apparently bargain share price levels, that sees members of ‘the family’ divesting their holdings with no other ‘connected’ parties putting their money where their mouth is and buying them. In fact, only in the last couple of days has some sort of organised trading come about to transition share ownerships to larger private investors.
2) Fact. Tyson Anderson as Deputy Chair no longer has any direct vested interest in the Company.
3) Fact. Your sister, Amanda Farrar, continues to divest her holdings in Titon and is likely causing a ‘stock overhang’ situation even at these ‘low’ share prices. We won’t know if and when she’s finished as she is no longer above the 3% notifiable threshold. The initial drip feed of shares was nothing less than shambolic for someone, as you highlight, that is so closely connected to the company.
4) Regarding: “this should refute any accusations of “the only remaining major female shareholder selling all her shares”. You seem to have entirely missed the point. The point was the departure of Alexandra French in such an acrimonious way, (the second such questionable departure of the CEO from Titon in only just over a YEAR!) was going to create a news vacuum and speculation. There have now been three CEO departures in succession at Titon, a number that even Lady Bracknell would struggle to find a negative comment of suitable gravitas for.
5) Fact. This period of shambolic relations between CEOs and the ‘family’ management is the responsibility of the ‘family’ management alone and should never have been allowed to happen in the first place. Good management is about smoothing the operations, not breaking them.
Well the daughter has just sold another 155k and with Tyler giving away his entire shareholding in his divorce settlement......
Setanta, so you're saying that this "reputable" rig company hired one to people who don't know what they're doing?
And which rig are you talking about? The drill rig or the workover rig?
Please elaborate.
Nice one obmuj, got it thanks :-)
Has anyboby got a link to where this can be found please?
There's the powerpoint on the Zephyr site and I can find a link to the vimeo but that's stuck before the 'event' starts.
Thank you muchly
Going down 100k since September is levelling off the negative period so far from a surprise there.
The previous cash reduction to September 22 was already flagged in 2 previous RNS?
Overall it does look to be "trading in line with expectations" although they have dropped the mention of profit for H2.
The mention of the gloomy OBR outlook for housing is fair warning but they've been totally negative for the last few years and it's not come to pass.
Trading update due tomorrow, the last material comment beyond "trading in line with expectations" is this from latte 22:
"In the UK and Europe, we currently expect to report a loss before tax and exceptional items in H1 FY22/23, but we expect to return to profitability in H2 FY22/23. Whilst FY22/23 results overall will be somewhat lower than our previous expectations, we expect FY22/23 will show a full year improvement in performance when compared to our expected FY21/22 results."
It will be interesting to see where their thoughts are regarding the mooted small (single digit £m) European acquisition at the presentation next week.
Sisyphus, have you watched back the last couple of investor presentations? There's some interesting snippets about their thoughts on future European expansion routes in them.
Interesting appointment.
Doesn't look like a sleepy accountant just there to mark time. What did they talk about at interview to bring him in?