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Steve the company is loss making at present so much as I would love a return to value (I am down 6 figures) we need to service both the bond holders and SL interest plus settle the swap payment of ten mill.
At the very least all bonds need settling as cash as opposed to equity conversion plus swap sorted so I guess that’s say 25 mill sterling.
On top of that we would need I assume about a 10 mill cash injection as mentioned in last RNS.
Who is going to put 25 million into a company valued at 500k or so by the market?
Duster
We need an explanation why the BOD did not ramp up injection rates to previous levels that yielded 2,700 bopd.
Even if they did this for 2-3 months it would have proved the viability of the GGS and if they said we need more dough to maintain it pretty sure they would have got it.
But instead we saw injection rates at less than half the previous level so how was this ever going to succeed…?
Tilburn how can they increase production when they have stopped injecting the gas?
This stinks to high heaven I flagged multiple times there was something dodgy going on when post GGS they did not amp up injection rates to the previous levels that yielded 2700 bopd.
Imho this is intentional….so copl never could back in profit.
Until the injection rate is amped up to 8-10 we cannot say it will not flow adequately the question is why did these numpties immediately not increase to that level. We have the kit in place so why not stress test it at previous levels??