Member Info for barnyards

"Can't wait to see life back to normal"

I'm pretty sure it will make no difference to you as you'll still be here day in day out spouting your non stop leveraged drivel.

gone heavy @ 20ppp (pence per post)

atb, dyor, your call

cheers, Garbled

aka: nothing left :-)

"11,000 barrels a day @ 73.99 makes us just under USD814,000 per day"

yes Squirrel but I'm afraid your numbers are GROSS

I seem to recall last breakeven figures reported were just shy of $27 per barrel so although Brent is currently trading at a higher price IF we were to assume (for simplicity sake) $70 oil the profit margin is running at around $43 per barrel.

ergo another way of looking at this is at $70 oil the projected breakeven production rate is circa 4243 barrels per day.

obviously none of the above simplistic calculations takes into account other costs such as interest payments on the bonds or termination fee's for the AM or any other work that may happen or be required in the future to sustain production as best they can however it is indicative that there is still quite some production mileage left and therefore I say its not all is as bad as the BOD are saying and that's not taking into account most oil analysts are predicting $80 - $100 oil is within reach before the year is out or at worst some time before bond maturity and repayment is actually due.

anyway as I said earlier, maybe the judge needs to ask just who is paying this new BOD wages and writing their scripts as on paper it certainly doesn't look or read like it is any long term invested shareholders.

GL

WOW

seems they just can't help but twist that shareholder knife at every opportunity

the Company is pleased to announce... oil production from the P6 well is expected to continue declining...

as a neutral looking in at all the official company announcements since the good doctors departure, one might like to think that even the judge might start to wonder who's payroll the new BOD are actually on

I can honestly say that in 20+ years in the markets I've never seen anything quite as obvious or like it

a former i3e guru with quite a following

a GURU huh ?

LOL :-)

we "believe" we "might" have all the long lead items of equipment required already on location - LOL

why bother ?

why not wait another week or two until you have physically checked it all out and can 100% confirm your intentions to drill on a specific date

fully funded eh

hmm lets see :-)

Clear from this case SN... (edit) had no scooby doo what was going on, HOWEVER ...

how SN can claim to have no idea what was going on with your only operational business irrespective of it being thousands of miles away in another country is just plain ludicrous and dumb no matter how big a heart or trustworthy some on here seem to think he is.

IE:
to claim he had no idea about bank statements and transactions until years later is incredulous for starters

even IF SN wins and somehow gets ownership of the company back, he's certainly not someone I'd ever be backing with money.

I must say, its better than the soaps currently on TV and making for quality Friday night entertainment with a glass or two in hand.

the thing is they need a new well to prolong the life of the field and to do that they will need a significant chunk of cash so the question I think for the bondholders just now hinges on capital risk

IE. do they agree to a stay of execution allowing the use of the cash on hand (that is in essence earmarked for them) to drill another well and RISK getting less back in terms of the cash and equity equivalent now should the well not come in and produce as anticipated or as required to generate significant free cash down the road.

I'd say its a difficult one for bondholders to choose right now based on past production performance and the nature of the FB beast.

hopefully the judge defers his judgement for some of those alternative options and negotiations to take place rather than a wipe out for shareholders as things currently stand.

weather forecast for the week is looking grim up north with yet more rain forecast in Skegness :-)

its a bloody good job you managed an upgrade to a caravan this year

£20pp (per pitch)

currently away for the week but the good news for all my fantasy trading leveraged fans is the once upon a time dodgy old wifi connection in our Skegness caravan is much better than I had remembered it was

https://www.lse.co.uk/profiles/falklandinvestor/

buy hold sell

leverage is king

£20pp

nothing left

all the best... dyor... etc... flaky

PS. other caravan parks are available

Sam and Stu feeling unloved and embarrassed by a PI uprising Surfit ?

sorry but you've obviously not graced the same stage as them :-)

Sam likes to be known as 'THE' MAN who discovered oil where the mighty Shell once failed and goes to his bed at night 'BELIEVING' he is underpaid for what he has achieved to date and often introduces himself to anyone that might be looking at him and thinking to themselves who is that as 'don't you know who I am'

personally I don't believe any of them (Directors and Non Execs alike) will be in the slightest bit embarrassed or concerned with what's currently going on but hats off to any disillusioned PI for trying to do something about it and at least making their voice heard as is the bought and paid for right of every single shareholder in any company.

GL not long now

"net-cash"

I have to say Slift that's a quite brilliant spot

it is an unfortunate reality that these forums tend to mirror twitter and have become infested with multi alias user accounts which just highlights what someone said earlier about 'the world is not perfect, it can be corrupt' except I would change their choice of wording from 'it can be' to 'it IS'

it is truly amazing the lengths that some will go to solicit and extract their ill-gotten gains

as a wise old owl once said:

caveat emptor

a lot of people over the years have often asked me:

what's in a name ?

I sure as hell don't know but I do know that some are instantaneously far easier to spot and filter than others :-)

toodlepip x

"The negative is the apparent lack of ambition in the scale of drilling"

well Tony I actually see that as a POSITIVE as one only has to look where their over zealous borrowings and reckless fast track ambitions got them and their shareholders last time around

they have more than enough assets for now to focus their 'immediate' attention on so for me its time to build production levels up from within by using any (and ONLY) Free (and continually growing) Cash Flow and NO more borrowings

nice and steady as she goes as with increased flows she continues to grow

no rush as not everyone is looking to get out on some impatient little jam tomorrow spike :-)

https://find-and-update.company-information.service.gov.uk/company/13113084/filing-history

no idea how one can begin to value a company that is a mere 4 months old with no actual business and cost 100 quid to set up at over 6 million quid today but if you ask me it sounds like he is starting to feather his retirement nest at the expense of all his 'loyal' lego shareholders

Monaco is an expensive place to live and one needs to keep a certain amount of cash in the bank to retain ones residency status :-)

I have heard it said that the more subsidiaries you have the harder it is to trace the real money trail and as a former barrister I am pretty sure the midas man and passionate collector of art is well aware of that

its a truly great business model in getting shareholders to continually fund your passions in life

not everyone has the gift of the gab nor indeed the brass neck to do that - LOL

exactly

"The Acquisition of the 16.3% shareholding, in Start Art where David Ciclitira is currently a 75% shareholder and Ranjit Murugason is a 25% shareholder, is therefore classified as a Related Party Transaction pursuant to Rule 13 of the AIM Rules"

robbing peter (lvcg shareholders) to pay paul (DC and his missus) springs to mind :-)

powering through 6p eh ?

LOL

looks like unserviceable debt in the minnow oil market strikes again

I'm afraid within the industry the writing has been on the wall for quite a while and its hard to fathom out all those people who were clapping and egging on the known cheerleaders who were (by their own admission) topping up or going in large into this in recent months whilst the cold hard reality from the real industry professionals was that they couldn't see any other possible outcome than what has just been announced.

anyway good luck getting sufficient funds to drill the 8 well next year as (IMO) that ain't gonna happen so its a RIP from me

PS
I can't wait for Hasiba to come on and say he's just bought another gazillion shares having fortunately sold out last week in err um profit

aye aye skipper 308p :-)

12 million shares down, circa another 105 million to go at current pricing levels so buybacks should be complete in a couple of weeks at a similar buyback rate

as I explained yesterday the net effect on issued shares once buybacks are complete and employee awards have vested is zero so nothing at to see here.

nearly every analyst is predicting a steady rise in oil price as the wheels of industry begin to return to some sort of post pandemic vaccinated normality and as a result the quarterly financials of every oil major out there should improve in line accordingly so what's not to like.

I can see from a lot of the comments (not yet filtered) that there are too many people still living in the distant past.

seriously who cares whether they spent $1 billion or $70 billion on buybacks over the past 10+ years.

share buybacks are pretty much standard practice for every main market listed major company out there so get over it

306p

steady as she goes cap'n :-)

as it says on the tin, the buyback of shares is to counter the vesting of future employee awards

the end result (once both buyback and vesting has concluded) is there should be the exact same amount of shares (or there abouts) as in issue today.

therefore looking at it from a negative perspective one could also add there will be no share reduction as a result of the planned buybacks (as is common practice with other company buybacks) but from a positive perspective there will also be no dilution (as is common with other employee options and award schemes) when the awards vest.

ergo, a +/- (balanced) transaction, absolutely nothing of interest to see here, its business as usual

303p steady as she goes cap'n :-)

"have a word with yourselves"

says the poster who took a loan out to 'deleverage' their spread betting account and has in the past actively encouraged others to borrow money to buy stocks and shares

sorry to intervene and pee on your spread betting parade but anyone actively encouraging people to gamble on the stock market with borrowed money whether they can afford to service the monthly loan repayments or not are the ones that need to have a serious word with themselves

cash will always be king

nice and steady as she goes cap'n

toodlepip x