Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
The company sent numerous rns in H2 2023 on the big benefit from Slawson production in Q4, and now they report basically flat production in Q4, talk about misguidance. Not a lot of new wells coming in 2024, so I guess we get 20-25% underlying decline, down to 800 boepd. Jesus.
Goldwater, I think there is a very high risk that the company will do a further equity raise over the coming days. They are fully funded for the flow test, but after the flow test they will have almost no cash left. Any realistic board of directors would raise further funds as it would be a mistake to have very little cash left after a high risk flow test.
Skid35,
OPTI could report sales numbers for the whole corp for 2023 like normal companies do in the Jan / Feb trading updates. Instead its 2 pages of inconsistent information.
Basically no hard numbers at all in the RNS, just mambo jambo..
88 Energy have stated several times that they are fully funded for the flow test, which is indeed true. But how much capital will they have left after the flow test?
2023 end cash balance was $A18m, which is USD 11.6m. The flow test is costing $11m gross, $8.25m net to 88e. Which will take cash down to $3.3m.
On top of this the company is burning $2.5m/6 months, which means that by the time the flow test has been completed 88 Energy cash balance will at best be $2m.
It’s just not realistic to conduct a high-risk flow test and leave the company with barely $2m of cash after the flow test, while the company still has various commitment for a) Overheads, b) Namibia project, c) Texas operation and d) Further running cost from the Alaska operation.
My bet is that 88 will raise cash during this week before or around the announcement of the start of the Hickor-1 flow test. The November 2023 placing was done at 0.23p, maybe they can get away a placing now at 0.25p.
Talked about Roach warming up investors for further problems.
Kheldar, its not good news for GKP and the other producer. When Iraqi central gov paying KRG employees directly, the Iraqi gov can argue there is less need for direct budget transfers to the KRG, of which the IOC would be paid from. The KRG government has been opposed to that KRG employees getting directly paid by Iraqi central gov as it undermines KRG quasi-independency.
When reading the Newmont capital expenditure budget for 2024, they are writing that they will spend $100m on non-core development asset, the category Havieron falls into. $100m dosent sound to much considering that this is for all of Newmont non-core development project. Any risk of Newmont slowing down development of Havieron now when its on the sell list?
https://newmont.com/investors/news-release/news-details/2024/Newmont-Reports-Fourth-Quarter-and-Full-Year-2023-Results-Provides-2024-Outlook-for-Integrated-Company/default.aspx
I guess we are not a tier 1 asset.
733m warrants with 0.39p strike from the Nov 2023 placing, I guess that is the big resistance.
What is the estimated well testing cost net to 88E?
Oldslow65, are you drunk, what are you talking about?
Weaker price outlook
Weaker production
Growing net debt
5-7p?
Tick tock
https://twitter.com/OilGasTracker/status/1759610121208914181
Don't wish for too much, when Davidson bought Oak Furnitureland it was in a pre-pack deal, the Oak shareholders ended up with nothing.
https://www.retailgazette.co.uk/blog/2020/06/oak-furniturelands-future-secured-in-pre-pack-administration-deal/
Today's news is largely a re-cycling of the RNS from 8th June 2023, a bit desperate. It didn't take long after the June 2023 RNS until QED announced the last capital raise at 1.25p or 35% discount to the previous days closing price.
Warming up for the next raise.
Permit received, but lets be honest what the point of drilling natural gas well when Henry Hub is at $1.7, lowest level since 1999.