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Coolkid you deluded fool. You said the same about them jumping 100% in June back in April, but it didn’t happen.
This is done by the looks of it. Meditor will take 99.99999% of the company if they can’t pay the debt next year.
Mugtoo no you were not right, look at what the SP is telling you. It’s now breached 12p so not long before we are wiped out here.
I have no idea why I parted 5k on this share which I dint think I will be getting back as I bought at 30p.
What happened to all those iis that invested at 11p?
Like I said before they most likely sold out at 13p and made a quick buck, and I got shot down for it. I always said you couldn’t take the iis investing as positive sign, as you’ll never know what happened/happens to those shares. Unless of course their holdings are below the threshold which makes their investment neglible in the grand scheme of things. We need a RNS and positive now at this critical stage.
Mugtoo- get back under your shell you pathetic moron.
Jrlomax- there was a spike to above 13p after the placing, which is when they most likely sold out?
look onnadvfb
Majorboy- if the hedge fund decides to take equity for debt forgiveness, as a shareholder it’s over. My shares will be worthless. Suggest you ready up on a debt for equity swap.
Bigboffer- my figures may well be out but until we have comma from the company via a RNS stating the correct position, it’s best to assume the lower production rates when trying to assess the profitability of the company.
Nomura- thanks for stating the obvious
Djm1-no I’m not dancing to Mike’s tunes, and if you don’t like my post then use your filter button.
Mike31- thanks and perfectly reasonable, and I agree can happen. As you’re already aware I’m just as cautious as you on this which is also reflected in my assumptions below. Would be interested in what the others say, especially those with £1-£2 targets.
In the interest of keeping this share chat balanced and avoiding childish arguments, can you please state where you expect the share price to be in the new year and why? Please only use facts and other information in the public domain, so no silly comments like £2 please. I know no one can guess which way it will go, but it may make it easier to understand each other’s views.
I will start by giving a share target price of 15-20p based on the following assumptions:
-All three wells are producing at least 300 bopd each a day and the price of Brent is around $60. This generates around $16.2 in revenue of which block is entitled to around 75% which $12.15m. The company needs around $2m to operate and once uk taxes have been paid they are left with around $8m, which makes a valuation of £60-95m feasible.
-There is no bad news around 16az or requires significant expenditure for remediation work
-We have sales contracts in place and the oil is being sold rather than stored
- Agreement is reached with Bago regarding the gas
- An upgraded CPR showing upgraded resource reserves. Obviously if these drop then SP will tank
-No political issues in the region that will affect trading
-no rates of decline on operational wells
Will be interested to see the opinions of others.
Yes we know that now but the hedge fund hold the card now. They can easily to a d4e here
Not looking good here. Hitting new lows. According to ADFN they were going under last week?
Bigboffer your calculations don’t account for the government’s share or opex costs as per usual. Please provide accurate and factual information especially when you have been told about this before.
Interesting behaviour from the share price today on no news. Would be good if it holds this time.
Thanks AJW. However regardless of them having included 16az for their design, I still think they should abandon it and use one of the others if they can’t find a solution to increases its productivity. After all the aim is to maximise produce and cash flow as a result.
Well let’s just hope it is still producing 300bopd and will continue to do so for the next 117 days.
They are probably better off building another well to replace this if this cannot be fixed economically
( but keep this one running in parallel until the new one is available)
Reentering old wells was always going to be an issue.
Nomura- 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.
Rob- precisely which is why it’s justified why people are suspicious. You can bet your last buck there is an issue at 16az, hence they have bought themselves one time with the 90-120 day cleaning window. Even then we are approaching 60 days so there should an interim update at the very least. Have things improven it got worse?