Member Info for belisce6

He failed to give real details about neighboring drills..
Exact timing is still unkown..
Elsewhere i have read an old news article stating nov19 as time that the drills needed to be done by.. so who knows right now :-((
Char is definitely down for 2020..

Only r1r2 and mengo success needed for serious sp action.. Cos if mengo comes in.. then forget about 500bopd.. multiply it by about 8 times.. They will have debt facility in place to drill out production wells. Sefton already mentioned like up to 10wells (?)... Using say 8wells at 500bopd at 56% net is about 820,000 barrels oil net to aaog from mengo in one year.. Using the 65buck net oil.. at 1.3fx gives some 40mill gbp in clean gross profit over one yr.. Just this horizon could then produce over like 4 or 5yrs.. Apply a low 4 or 5 pe.. you get 1 quid to 1.25 quid sp.. And dividend at about 15 to 18p per share.. thats 12 to 18% etc... For 8 wells into mengo.. would probably cost like 3mill or so each.. so about 24mill usd or 18.5mill gbp in total.. if done accretively then maybe need initial 10mill quid loan finance... drill and produce from first 3wells.. then either increase loan for remainder or use positive cashflows for it etc.. In general though.. mengo on its own is good enuff for sp to get a 1quid+ valuation at some stage :-)) No doubt djeno 5kbopd success is better.. cos its out of one well.. but mengo is "appraisal".. 70% :-))))

Surely once mozambique licence comes up for signoff, the 5 or 6mill quid marketcap will appear rather low ;-))

Second well was contingent on result of first well.. and also on farmout success..
I doubt we get a 2nd well in namibia right now.. would be good.. but would need to be freecarried farmed out.. tough ask after the prospect s water :-(

*i meant.. if the well comes in at "Less" than 15mill usd

If the end cost of the well comes in at over 15mill usd..
(char at 76% loses 11.5mill usd max)..
Then possibly mr bottom might survive to live another char day..
But if the costs come in at more then i do believe that the unanimous call should be asking him to move on...

Am still hopeful that char is on the hook for maximum 10mill usd, leaving bout 3.3p per share in cash at 31dec18..
Thatd only represent a 35% less drillcost..

I hope we find out soon.

I cannot see where in the timing schedule this silly ceo is going to tell us the cash position...

Few days before the duster i emailed those emails on char website asking about farmout etc.. i received no reply..

I see that the ceo phone number is on bottom of rns's.. how likely is he to get back to me if i call that number??
I expect an assistant to answer it and to effectively fob me off, or at the best to receive a garbage line like at last online presentation where we were all told about farmin still being on etc..

Surely this level of garbage given out the investors means that we should be all in unison, asking mr bottom to please resign.. asap...

Lefkosia..

The worst is how the same law and metrics are applied to the indices trading..
The other day i wanted to go short the spc before the lovely correction but saw it wasnt worth it.. for a potential 4k targetted profit the cash outlay was like 25k... buying some vix instead is dodgy in itself cos its a monthly contract and if one gets stuck beyond that few weeks period, then you lose money just on the rollover etc...

Theyve taken out the potential for retail to huff and puff and bring the house down... cos otherwise everyone would be saying.. ok.. its now the crash.. go short the spx... etcetcetc

Gripa.. into the first week of november i believe..
Thats y i say.. in the meantime we just need sefton to give us a podcast update stating no problems with drilling thru the ground before r1r2..
That in itself will be a material positive :-))

*endure = ensure

No.. the problems were there.. mentioned on proactve interview.. but the drill stopped around time we expected r1r2 to be hit.. no relation really..

From now into november, we only need update telling us that drilling is going smoothly with no terminal problems.. the oil is there.. just need to endure no more operational issues...

I believe a simple update via rns or podcast telling us that no issues with the ground, as with first attempt, might get the sp back up into the previous range of over 11p or so :-)

Someones behaving in a manipulative ****-type manner :-((

Haha.. impairments just add up to overall losses carriee forward, which can usually be carried forward to reduce future tax bills.. in the event of becoming profitable...

All i am finding in regards the brazil drills is that shell have until nov2019 to drill.. some 7 drills over 5 permits in that area..
The info is couple yrs old though.. it does fit in with what bottom said..

I think that cash levels are maybe closer to 13 to 15mill quid postdrill..
But we wait for official confirmation..
That would be about 3.5 to 4p per share level..
Add say 1 to 2p.. about 1.5p for the other project potential, and quite possibly it gets to the 5 to 5.5p level.. over a more longer stable period.. relatively soonish..

Potential positives relatively soon..
Shell/total now drill 2 wells in sthern namibia.. sth of kudu gas deposit i believe.. any success might give char a positive tickle as char can backin to 10% of its previous sthern namibian block.. granted.. its nrth of kudu.. but still its in that part of namibia offshore, so some slight kick to sp might happen if shell/total have success...

Going beyond.. the neighbouring many wells in brazil are supposed to kick off in 2019.. there is quite a few according to char presentation.. just trying to find out when exactly they will be occurring..

As well as that, i guess its now for char to farmdown the 2 morroco prospects to get them drilled by summer of 2019 or so..

There does appear to be potential for taking back money put into char at 8p levels, over the course of the nxt 6mths..

I was previously vocally opposed to Dave Walls Performance Bonus Scheme..
However today i topped up at the close and intend on taking uo my entire rights issue..
DW has answered the critical questions..
Time to get going with the job at hand and get the sp back uppetty up :-)
I do now hope he gets his Resolutions passed...

????

Whats with that comment ???

There is a decent chance they have 4p cash levels if the real cash cost of the drill is significantly less due to less than half the time required for the drill than planned...
At another 1 or 2 p for projects and it could quite conceivably rest at 5p and above some time soon..

We need to find out about the activity of neighbours in nearby acreages.. cos these things could also give it a lift..

I believe that sthern namibian tenement they dropped.. i believe they did similar deal with namibians as in mauritania..

Thanks for questioning me.. cos i will check this again.. if i havent got it wrong then its in one of sept or june presentation or physical june presentation..
Will look into it cos am trying to find info on the brazil drills too.. in the neighbourhood.. i understood theyre supposed to rollout in 2019..