Member Info for Beynon

https://www.bloomberg.com/news/articles/2022-03-25/russia-sets-out-plan-for-huge-exports-of-flagship-urals-crude

Has anyone worked out the free cash flow on these revenues?

Everyone disappointed. Not a well framed tone to that rns however. Oil will not stay this high forever. The conflict is putting a bigger premium than the discount. The fastest turn to cash is shallow investment - particularly horizontal drilling. Good volume and higher price. Boat - well that is its own issue. Deeps are not dead but will they ever get there I don’t know. What Clive didn’t say is what the revenue was for the quarter but the lowest sell price for a period. For me make hay whilst the sun shines, deal with the political risk and give effort to the infrastructure flow deeps when price is lower and volume is the revenue

And boaty mc drill face will be sold at a significant premium to either third party or to another new foreign group company on lease back no doubt

Remember the main shareholders likely don’t care about share price as I don’t think they have any interest of selling the shares and may just want the dividends out the business. It will be pretty disappointing if we stay at these levels posting solid profitability growth.

From last accounts- it is the policy of the board to work towards a position where meaningful dividends can be paid. This requires not only consistently profitable trading but also in all likelihood a corporate reorganisation to create distributable reserves.new corporate subsidiaries have been incorporated in the UAE, with a view improving and simplifying the group structure and easing the future payments of dividends. Any dividend declared will be set at an affordable level that does not conflict with the need to fund value enhancing growth whether by further investments in our existing fields of by acquisition.

Mrcautious. It is the question of paying a dividend from a negative retained earnings position as built through multi period losses. This is different to cash position or debt. It is more normal view to see dividends paid from a positive retained earnings position.

I believe it is legal to pay a dividend from negative RE

Is he a doctor? I didn’t see that from his credentials? After the drop I found he had an MBA from one of scotlands worst universities/ polytechnics

The legacy of Colin king continues on

I believe also that they are being cautious. Things aren’t 100% stable since the unrest and with the wider issues as we know. Moving ownership out of country and different big moves before a potential significant change may be too obvious to attract the wrong attention. Again, likewise, pure speculation.

How would odx secure a loan? Loss making, cash burning entity. Now shareholders have got their wish they will have to live with the options at hand which must be very few given the shape and execution of the business

I get the spike for the placing to sell into. They will have needed to present a case inorder to arrange the placing. I don’t see the second spike on covid news as they have all but dropped covid now.

The calculation only factors 15% of the deeps.

It’s in a death roll that does not end

Simply they are reducing capacity and still have the opportunity to manufacture in Cambridge before deploying mass outsource if required. Makes sense.

The price does not and will mess up all the financials but I suppose the floor has fallen away from under them.

Placing ….. everyone appears outraged by the placing - maybe a bit of offset to get the Alva deal through. Maybe some hedges bets. I am sure there is some contingency of sorts in there.

The rns makes the statement that moving to the subcontract method of manufacturing will significantly reduce manufacturing cost. I wonder what balance of variables is driving that statement. Is volume too low to absorb costs, are the costs at Alva high, is the level of automation in Alva low needing manual input in the non-government equipment?. The statement does not make sense on its own. Still struggling to understand why the site has been sold for £1m. The site lost £4.9m but that was with all the DHSC costs expensed and the income held in the BS. I can’t see why the government would put a stop to this either as they have chosen not to use the asset. It’s maybe a very outside play to force a final statement to close the whole debacle - even if it is desperate and unlikely but who knows. No doubt in 9 months there will be another strain and again shortages of lfts and this will still sting all involved here. ODX will have options to have their test built in many different places, maybe other UKRTC partners such as ABDX.

Totally out the game now. Health and nutrition good but no significant share price to be found there. This is a board strategy to not maximise returns but get out the limelight

Would they need a vote to pass for this? No institutions left?

What are peoples thoughts on the opec meeting this week? Increased production from opec? Shale picking up again