Personally I'd prefer a Tuesday RNS but let's be honest - it doesn't matter. We bought an asset when the price of the barrel was on its knees. Barrel forecasts for this year suggests we were at the right place at the right time. All that equipment is ours and we are the chief operator - bring it on
Everybody is entitled to an opinion however if HSBC are happy loading at this level so am i.
No one likes dilution but £8-£10M of the recent raise is surely ring fenced for something else as Tiburn calculated the miscible flood costs.
Production the holy grail and this is a massive step forward for COPL. Huge after hour trades on Friday confirm that transformation is on. Re-modelling has confirmed a 40% increase in production forecast to 7000 bopd from the field by year end. Bring on horizontal drilling too
Moreover when one considers the fact that HSBC are now on board (also Clarendon - with others to follow) and that we're geared up with a £13M + war chest we have every right to be positive!
Unlike 88E the rise here will have real substance as we have a valuing generating highly lucrative asset. After all in the O&G space production is the holy grail
I think £10M will be used to get involvement on an interest in Mozambique which he mentioned a couooe of times in the interview and requires the miscible flood technical nouse to be executed - and blow us fuukers out the water.