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Probable reserves (327.1 million barrels) are valued at around 3.5p per barrel. When the current price of oil is around $75. All we need is a spark.
No news but monster volume, mostly sells. But market makers didn’t move it down which is unusual, playing this like a fiddle.
And a possible JV. Dirt cheap down here.
Once we clear this sticky 100p area. This should return to previous highs.
Spread has tightened and loads of big trades. What’s going on?
Big pick up in the last 2 days.
2016 results were released in mid-June so anytime around there.
There goes the overhang. Ready to pop now.
Interesting that the bid was at 92 earlier. It normally moves in multiples of 5 and now the spread is a lot tighter. Interesting that it’s difficult to buy at the moment considering the heavy selling over the last few days. Market makers playing this like a fiddle and I suspect they have gone long.
They’ve done this for every shipment. Don’t really get the sells.
Interesting that the board want to maintain dividend at 10% of EBITDA. With such high oil prices this year, I will expect next years EBITDA to be double or even higher than current EBITDA. Giving a dividend of over 10%, these low prices are clearly unsustainable. Out of interest are there any other oilers on AIM paying a dividend?
Could go anywhere with Trump around. Tanker shipment is now worth $12.3 million in revenue, around about the same as the market cap. But we also have another one in October.
Brent just below $80.
You've previously talked of "a dip before the big rise" and also tried to ramp up SQZ. Looks suspiciously like you want a lower entrance point.
All quiet today. Probably the quiet before the storm of news coming next month.
That’s more than our market cap. Insane.
The business is in 3 areas: Petrosakh: Based on Sakhalin Island on the East coast of Russia. We have a refinery and there are two fields that we have licenses for: Okruzhnoe: production at 930bopd a day and probable reserves at 40.6 million barrels. South Dagi: newly purchased, currently a drill is underway with results expected next month. Currently no production and probable reserves of 20.9 million barrels. Arcticneft and Arctic Oil: Based on Kolguev Island on the North-West coast of Russia. Here we have another refinery and one license: Peschanoozerskoye: Production of 992bopd and probable reserves of 76.8 million barrels. BVN and RK oil: Based in north-west mainland Russia. Here we have two licenses with great infrastructure for supply to Europe: Babaevskiy: no current production however an exploration well produced 130bopd in the future production here would likely be around 400bopd. Probable reserves of 10.8 million barrels. Ordymsky: Currently no production. Probable reserves of 178 million barrels. Currently looking for a joint venture for exploration and extraction. Possible future production of around 10,000bopd if drilling is successful. Upcoming news: South Dagi drill results. 2017 results. Possible JV at Ordymsky. Tanker shipment worth more than current market cap. Dividend: Should be around £600k this year (5%). Debt: Currently around $3million. However, last year $8million was cleared at oil prices of $60 per barrel. At $80 a barrel now proceeds will far exceed $8million and with just $3million of debt, the business will be sitting on a cash pile worth more than half of the current market cap at the end of the year. Exciting times.
Back again but can only buy 231 now.
Looks like the market makers were holding over 50k shares. I am extremely jealous, wish I could have that much. Anyway, should tick up soon.
To start the day. Still no selling. Can see this rise continuing as long as someone doesn’t drop 35k into it like last time.