Member Info for Bridgedogg1

Another interpretation would be;

1 - CUDA 100% confirmed - already priced in
2 - RBL in place - is it?
3 - RS resources report confirming 1.5 Billion barrels OIP - will it?
4 - Frontier drilled and Wells online - believe it when we see it and there is no placing to pay for it

Thats how the market feels and who can blame it?

Considering the current mcap, our level of debt, the hedge and the low production (yes including Cuda) it could be argued that the current mcap of £41m is more than justified. There are plenty of small O&G out their producing more than us with much less or no debt and a similar valuation. I would argue that Cuda and the very early stage discover are already priced in. Anything else on top is pure speculative value that only comes with exciting plans for near term development?

Hope Im wrong but looking at it from both sides. I dont feel like Cuda is going to take us beyond the mid 20s on its own.

That £20m Bond is a real kicker. Less than 2 years to run with the majority of the net cash likely to go back into the Italian assets. Perhaps another restrcuturing once income has increased.

A company that spends £9.3m per year, mostly in salaries, to generate £1m of revenue and is valued at £7m.
Total Asset £6m.
Total debt £6m
Hasnt grown fast enough.

Production ramping up. Had to be paid for. Fundamentals going in the right direction. Share price will follow.
It’s been crap. It’s getting better.

£24m mcap, still a long way down to go IMO

Yes back to where it was in Jan last year, still historically very high. Being pushed down on speculation at the moment which is causing large swings. China is improving, US inflation cut and second half of 2022 looks much better.

Ethiopia will never get off the ground because Harry is driving it. All those different funders along with the local 'interest', civil war, Africa etc. The grades are not even that good. Such a bottomless pit of money with no actual results. I think shareholders should welcome the back of it and just be happy they have exposure to the Saudi asset which is moving along nicely, chiefly because it has no operational reliance on the clowns at KEFI.

Soooo glad i topped up first thing. I thought anything under 1p was a steal. Not enough buying to counter the selling unfortunately. Needs the actual production/sales figures to reflect the mine improvement news which I'm sure it will.

So thats £1.5m revenue per month, plus what we get from the Tajikistan royalty expect to kick in next month, that should be very interesting.

Looks like the larger investors are pulling monies where they can and the small fry are jumping in.Expect a load of pumpers looking to turn a quick profit between now and the possible suspension on the 30th. They will be out before COB 29th. Good luck to ya.

Yep I could get £150k (pounds) worth of shares on IG no problem. Now its only £140k but the price is 23.49p, £100k @ 18.4p, £50k @ 17.5p. Down to £15k to keep it within the current spread @ 16.7p

What is all this NT bolx? I can nearly always get a quote for £150k

Well hit 16p floor, that;s the only positive I can take away from this siht show

I don’t see the recent trading as being any indication of a placing. We had a placing 3 months ago that added 50m shares at 20p, with the SP falling maybe they want to reduce their exposure and quickly. They certainly don’t care about the story. This has been a loss making company that has fallen well short of its targeted production and just about meeting its poorly priced hedging requirements. The infrastructure needs upgrading and the MS has stalled. I can’t blame the market for waiting until Cuda production revenue starts flowing and COR is confirmed. Then we can expect some big buys to soak up the wells, until then there’s more volume on the sell side and we haven’t been hit the technical 16.5p dip. Hopefully it won’t come to that and we get something Monday. There is an indication that the larger sells are trailing off but I think we will need news for any significant revaluation. Once we are making a profit the value of the production facilities and reserves will add more weight to the value, as it is they are discounted. Good times ahead.

Basically we had to cover cuda’s share of operating costs do absolutely no point in doing significant upgrades until it was in the bag. Now we can spend the movies knowing we will get the reward. Sine upgrades have been done and we are still working out how to best boost production in a cost effective manner.

Looks like the May figures have just been released unless I missed them this morning. Slight uplift to 1660 bopd.

All the larger trades are buys, should be moving up soon enough

Hurricane up 30%, feel like we've been short changed. Once news drops we will see many double digit percent rise days.

looking v good

US holiday yesterday. Processing payments today? RNS this afternoon?