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The report does include a post period report if people bother to go to sedar.
Confirms the announcement made about increased production at c37.
Don't get me wrong, it's been bloody painful but with a tailwind I can see this company with a mcap in excess of £50million in 6months. The current valuation only just about covers the Italian assets. It's a give away at current levels which has made the recent dilution very depressing.
Looking very positive indeed.
So much work going on in the background that is of strategic importance. People should have more confidence.
Future opportunities and tax credits.
No doubt there will soon be a notification that they are moving domicile from Canada to Norway. This company is for the first time about to make substantial cash generation, so tax credits are a strategic priority.
Less tax, bigger dividends.
Happy days!
Allows them to continue repaying at better price that the CLN conversions
Quite simply the lenders selling their 8million shares acquired at 2.2p through conversion of CLN. This was announced on 24th October RNS.
Exactly. Last piece of the puzzle before a wave of good news and improved financials. Those Norwegians are lucky buggars and could see that £800k investment turn into £3million in the space of 3 months.
Nothing stopping this now and should already be sat at a market cap of £40million. Just a matter of time.
They dropped it, took an order and are struggling to fill at this level
I'm shocked at the reaction but them I'm use to RNSs like that from Zen.
The value of the business is transformed by the last couple of weeks and it's only going one way now. The sp will follow I have no doubt.
I reckon A.C. is buying again. Can't grab any at the moment.
In the last 14 days, we have $1m less debt and upto 40% higher production
SP down? Whatever.
That adds c.$2million to the bottom line given production costs of $19/barrel.
It's 100 not 300 but it's profit and profit is profit
At 9.5% interest rate, that totally wipes out their annual profit.
Run that tubing and potentially 2-3 days of flow and we should be in business. This week it is then!
C30 progressing well too. What's not to like.
I'm still shocked this is sat at sub 4p. Italian assets are worth the current mcap. The power of mistrust I guess. One good result and another lined up and it all changes.
Thats how this game works gents.
After holding for years, what difference does a few days make.
You are right about managing expectations though. It was always going to take more than 10 to 15 days.
AC asking for critisism.
Less than 150 disappointed
150 - 250 good result
250 - 350 excellent result
Over 350 wow
I have no idea where this will land in that range, other than Andrea saying on target for 1000 BOPD in December, with c30 more promising than c37. So I would be hoping for 250 ar c37 if we are to hit 1000 by year end.
People willing to suggest mcap at production of 1000bopd with potential to c.3000 by end 2020?
Exciting times ahead.
Based on c.$19 all in cost and current Urals at $63/barrel with potential for non dilutive funding......yikes! I'm scared to write it down for being accused of being ramptastic.
See you at 5p tomorrow peeps. 10p by friday
But this is extremely irritating to say the least. We have a strategy of owning our own equipment but we are pizz poor at procurement. The finance side is in place, the oil is there but as a result of this weakness we don't have any equipment to get it.
the rig has not even been shipped from Italy?
'The Company has been advised by B Robotics W S.r.l., ("Robotics"), that the preparation of the BD-260 drilling rig, following the signing of a rental agreement announced on June 6, 2018, is progressing successfully. The Company will provide an update once Robotics confirms the finalisation of the preparatory work and shipping of the rig to Azerbaijan.'
Reads well, clearly lots of work behind the scenes and overall dare I say it, more professional.
If they won't pay the deposit back, not a company to be dealing with long term.
The new guy looks impressive. Let's get that rig on site ASAP! The oil is waiting.