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I think full year results are out tomorrow. Can anyone confirm this?
South Dagi is quite low cost and easy to do with it being on Sakhalin where we have equipment and a refinery. It also probably has the highest COS so the board probably want some good news to reinstate some faith in them. However, I agree everything exciting is in Komi at the moment 100%. Reading through previous RNSs the board is very keen of a joint venture and it looks like they were struggling to find one hence the Brandon Hill appointment. Even 50% of 100mil+ barrels is mind-boggling for an £11mcap company.
Explorer? We already produce almost 2000bopd. Can you name an oiler paying a 5% dividend on AIM? At least do abit of research.
10k buy showing. This should start to getting moving now.
https://www.ft.com/content/14b4cc22-64ae-11e8-90c2-9563a0613e56 I recommend that everyone takes a look at the graph showing the price of oil in Roubles. Most of our sales are exports and so this will affect us massively. 2017 results might not be the best but 2018 results will be huge. I also took a look back at 2016 full results and I found the strategy section very encouraging with statements such as ''Our strong financial position means that we can still take advantage of opportunities to acquire additional licences in our three principal areas, as well as undertake work overs and fund exploratory wells from our own resources.'' and ''Our strategy is to exploit our expanded portfolio of proven and probable reserves through planned field developments over the next couple of years. We intend to explore partnerships with oil service companies as well as possible co-operation with companies with complimentary operations, for example in the Komi region.'' Clearly the aim is expansion. At the moment now we have exploration and expansion supported by very healthy oil production and oil prices and also a large asset base to take loans out off of them needs be. I am also very excited for RK oil as we are actively looking for ''co-operation''. With over 250 million barrels possible this could be a game changer for urals and on its own would be enough to justify an �11 million market cap. These sorts of things are hidden in RNSs and you often have to re-read several times to get the positives out of them but you only have to read once to get the negatives.
Q and A doesn’t seem to work. Apparently there was an invalid code or something.
Will do, because from the sounds of it this could be huge. Also, the higher oil price means that the duty is higher I think and also I wouldn’t be surprised if some of the money is being spent on operation costs like drilling at South Dagi.
https://oilprice.com/Latest-Energy-News/World-News/Moscow-Oil-Companies-Agree-On-Oil-Export-Duty-Phase-Out.html Does this news affect us? Sounds good.
Up again. Venezuela production continues to crumble. Oil definitely still has room to the upside.
Very clever strategy. He’s definitely noticed that as a one trick pony they can easily be fleeced by the TG. Now that we have 3 projects, it means that now Kibo is in the greater negotiating position with all governments needing power desperately. I also appreciate the fact that we now have 3 countries where we have projects which spreads risk significantly in a very risky region. Very clever strategy. Perfectly executed and easily scalable. Now for PPA which shouldn’t be long.
“The Benga Power Joint Venture is another step in advancing Kibo's strategy to position the Company as a leading regional energy player”. I like this bit, only £30mil Mcap.
Looks like a transfer of some kind, most likely the same guy who bought 5000 and 8997.
Almost 30k of buys now. What’s happening?
Nice buys. Could trigger a move to the top of the range at 105p.
Just being moved up and down atm until we get news. Zzzz
Last day in May today. A lot of news coming up.
Thanks. Very encouraging. I’ve done about more digging and it says in the CPR that south Dagi is the “largest onshore deposit in north Sakhalin”. Looks like it was a great bit of business being so close to Petrosakh where we have existing infrastructure.
Anyone know the COS?
Also the chairman Andrew Shrager said “we are continuing to look work on possible acquisitions”. Clearly a massive hint that we are going to be in a strong cash position and we are now finally going places.
“In order to speed up the development of South Dagi, the Board has decided to order the work over of three of the original wells on the licence, with additional equipment acquired on Sakhalin Island. This will assist in mitigating against the decline at Petrosakh and thus increase throughput at the Company's refinery.“ This was in the shareholder about a month ago. Does this mean that they are in fact going to be re-using the old wells in South Dagi and by the wording it sounds like this increase in production will come into effect quite soon. Thoughts anyone?