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Franco- just as an observation where do you see this so heading? High teens, 20s, 30,40s?
Franco- what about false information from the company? People invest on what they are told by the company, and if that turns out to be a bunch of fibs, then I would say the individuals are not wholly to blame. After all you base your investment on company information in the public domain.
Bigboffer- stop repeating the same old rubbish like a parrot. When you have something constructive to say or given a new script, I suggest you revisit the board then.
AJames you really believe this board influences the share price? If it does then the ramping and deramping on this board clearly hasn’t worked.
Not sure what the hype is around the interview. As people have already stated, they will not say anything that’s not been stated in a RNS.
I am dissappointed by the fact we are half way through the “well clean up” phase, and and we have yet to receive any clarification. The well cant still be producing 295 bopd, this has had to have increased or decreased. If it was really in the clean up phase then we should have an update flow rate by now.
It won’t produce 295 bopd for 119 days and then just shoot up on day 120. It needs to be incremental and we desperately need to know what they are.
AJW- you should know by now interviews mean nothing and that it’s only a RNS that matters. It got nothing to do with being negative, Cautious11 is just telling you the way it is since the interview has no legal standing. Any company can tell you anything but doesn’t mean they have to deliver it. They have to be a bit more careful with a RNS as they leave themselves open for prosecution.
Nearly half of mine at 13.5p lol
Spot on Tony and if he does fail to mention 16az amongst other things, then we can all conclude why it’s being omitted.
Sorry was meant to say 400k. 400 is the actual figure Georgia produce as whole
Maldoni yes and it gets frustrating floor those of us who cone on here for a constructive discussion. A LSE chat board is not capable of driving down a share price despite what people think. It seems concerning to me those that are ramping this big time, did not even know how much bopd Georgia produces as a whole. I’m sure one of them said d it was 400 bopd lol
Agree with Cautious11 habit bf a balanced view does not mean looking for a lower entry price. We aren’t all lucky enough to have bought in at 2p and are therefore sitting on hefty paper losses due to lack of communication from Block. They are were happy enough communicating up until the point of placing.
Hi majorboy you are quoting net debt and not debt (money owed to creditors(, they are two different sets of figures and are calculated differently for accounting purposes. Net debt will always be lower than debt. Let me know if you want to give you an example as I’m just about to catch a train.
See here in the most recent announcement where they confirm they have sold 2 properties to reduce debt from 45m to 41m last month.
https://www.msn.com/en-gb/money/business/major-investor-swallows-£41m-of-carpetright-debt/ar-AAGof4M?li=AA54rU
No idea Martin but they could take a turn for the worst for shareholders, depending on what Meditor impose on their financing terms. Debt is still at 41m so still very high, with the Meditor Liam carrying a 18% interest rate do this is growing at a rapid rate.
Must admit Mike’s investment in MATD is doing far better than my investment here. The rises there recently have been consistent and have a higher market cap. This silence is just deafening.
Also Ajames all future sidetracks will cost between $2-2.5m dollars not the the $1.5m you quoted below, and this is from Paul agaywood himself.
So it’s a possibility we have to spend $500k- $1m to fix this well.
AJames- read my post again I didn’t suggest they just abandon the well and start drilling a new one. I said they should abandon it once the capex cost has been covered and then use the proceeds to drill a new one of they cannot optimise this well in a timely and cost efficient manner. This will put the company back into the position it was before and maybe a neglible loss.
See my post below
“
if that turns out to be the case I would say they are better off abandoning the well after they have recovered their capex cost. It’s not cost effective to burn through cash to bring back a dead horse“
AJamesW- I’m sure PH said there would be no more shares issues for any work. If they keep issuing shares especially at the 4p mark then I’m afraid we will be only going south with this SP. they did a fundraiser in May so have more than enough to pay cash now.
Nomura- until sales are announced they were always going to be eating into that £12m, and I agree this point seems to have missed by many. However you’d expect some clarification by now since the equity raise was back in May. At a break even rate of 110 barrels a day they have probably spent around £700k just on operating expenses by now.
AjamesW- I wasn’t aware they are both contractors. This would mean their goals are not aligned with shareholders, since they will be getting paid handsomely anyway. Anyone know what their daily rate is?
Again we have the 2 extremes and people just want to highlight anything that suits their agenda. If you look further down the article it says:
Excellent potential for Conventional Oil and Gas and Shale Oil and Shale Gas resource plays
Well known geology (similar hydrocarbon plays as in North Caucasus and Caspian Region)
Under-explored and under-developed with no discoveries since 1974
Very limited use of modern technologies (3D seismic, directional drilling, horizontal drilling and stimulation)
80’s peak prod= 70,000 BOPD from the nearby Samgori field (Middle Eocene reservoir),