George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Some buy volume. Didn't really test 1.5p yet. Will probably do so byt that's the bottom.
Bargain basement buyers will get exhausted on the next dip.
5p target next 8 weeks
Stop going on about hydrogen. Completely irrelevant to this BB isn't it
Rest your case elsewhere.
We might test 1.5p for liquidity in the next week. Wouldn't expect anything more dramatic than that though.
Bid is coming. Might be bit lower than some want/need but it is what it is.
Might get a share of the cash build as a special final divi to sweeten the deal.
All can be said for now
Good news coming soon
👀🤫
C&D on a Sunday night, OK
No more comment from me for now until clarification received. GLA
Just getting flustered so talking out his back end
Because his job role is to temper expectations here. So you kiss his feet when they come with a 5p offer
Except I want you to stand up and say fokoff 5p. I want 10p you thieving barstarrds. You corrupt team who have been brought in 1 by 1 to carry out this deception.
Valves half closed and missing gas
Taken some 'off the book' legal advice from my friend (Partner at a large London firm). He said best bet would be to hit them with Witness Summons. One little piglet always squeals 1st to save his bacon.
Even send one to Warren Buffet.
CalE
Directors
House broker
Nomad
Winnie
Newman
They even mentioned one for Dr. R. D
GSA Capital
There's inside information being traded and they better choose a fall guy
Won't necessarily get all of them approved (won't be cheap either) but a few is enough.
They want to push me I'll feckin show them
Winnifrith was expelled from the Liberal Democrat Party by Paddy Ashdown in 1993 for allegedly "pandering to racism". He was subject to an investigation by Metropolitan Police Service at the request of the Attorney General at the time, Sir Nicholas Lyell, and then Shadow Cabinet Minister Jack Straw, which found no wrongdoing.[9]
In September 2017, Winnifrith authored an article that claimed that the FCA would not be shutting down Beaufort Securities.[10] In March 2018, Beaufort Securities was shut down, declared insolvent, and charged with fraud, following a joint FCA, FBI, SEC and DOJ investigation.[11][12][13][14][15]
His time as CEO of Rivington Street Holdings (RSH) has also come under criticism, including accusations of multiple compliance failures while running a regulated company and acting "ultra vires", attempting to sell an FSA regulated entity without the approval of the RSH board [16]
Anyone remember the Big Flare seen on Friday
Followed by the 'Sorry no gas' RNS on Monday 🤔
Hahaha
Oh Rupert. You naughty boy.
Norton Rose or Hogan Lovells. As associate of mine is a partner at each. Not sure which would be best for Corporate related matters.
Anyway, let's see what happens. Serious bid or an insulting one. Not sure what price I'll accept yet.
Would really prefer not to have to get mired in legals but whatever it takes. Been taken for a mig before on AIM many years ago and it won't happen again.
· Southern, Central and Northern cluster conventional and tight gas assets (includes both Kelham North/Central and Goddard, both subject to appraisal) plus certain 33rd Round assets (subject to successful award)
· Base case gross unrisked recoverable resources of 591 BCF
· 7 conventional and 11 tight gas wells
· Two additional unmanned platforms, with tiebacks via the Blythe and Southwark platforms into the SBPS and on to Bacton
· Base case monthly peak gross gas rate of 239 mmscf/d
· First gas 23 months from initial Final Investment Decision
· Estimated pre-production gross capex of £743m; total capex including compression, decommissioning and contingencies of £1,091m (18.5 p/therm)
· Gross project pre-tax Internal Rate of Return (IRR):
o 63% at average gas price of 75 p/therm
o 89% at average gas price of 100 p/therm
Conventional Core incremental development scenario
· Southern and Central Cluster conventional fields only (includes Kelham North/Central which is subject to appraisal)
· Base case gross unrisked recoverable resources of 239 BCF
· Entirely focused on higher permeability reservoirs that do not require stimulation
· 6 conventional subsea wells (3 per cluster): IOG classification: Tie back developments
· Tied back to Southwark platform and delivered into Bacton via Saturn Banks Pipeline System (SBPS)
· Base case monthly peak gross gas rate of 142 mmscf/d
· First gas 26 months from initial Final Investment Decision
· Estimated pre-production gross capex of £284m; total capex including compression, decommissioning and contingencies of £368m (15.4 p/therm)
· Gross project pre-tax Internal Rate of Return (IRR):
o 92% at average gas price of 75 p/therm
o 124% at average gas price of 100 p/therm
Incremental investment cases
Based on the latest subsurface and engineering work, two incremental investment scenarios have been worked up that demonstrate the significant value in the Saturn Banks portfolio. The economics benefit from extensive synergies given the established production infrastructure already in place.
Both scenarios also benefit from IOG's material tax loss and investment allowance position, which as at 31 December 2022 included ring fence³ tax losses of £239.3m and Energy Profits Levy losses of £21.0m and non-ring fence losses of £24.2m.
Conventional discovered gas opportunities
· Blythe: Potential for limited periodic H1 gas flow later in 2023, in addition to H2
· Elgood: Further production targeted from existing well by 2024 from limited remaining reserves
· Kelham: subject to funding, successful appraisal would open up the Southern Cluster that includes the conventional gas discoveries Abbeydale and Orrell
o Dual-lateral appraisal well would test both Kelham North and Kelham Central structures
· P2589 licence (part of Central Cluster): ongoing subsurface re-evaluation indicates two conventional discovered gas opportunities with development potential as subsea tiebacks to the Southwark platform c.17km to the southwest:
o Grafton (formerly Sinope South)
o Tenby (previously Callisto North, initially developed in 2000)
o Both to be further defined technically and economically
o Additional conventional exploration prospects on block: Forest Row and Brockley
· Positive 33rd Licensing Round interviews held in May 2023 for nine SNS block applications which could add further conventional and tight gas resources to the Saturn Banks portfolio
Hahaha
There will be a bid here. Beb and the boys just want to buy as much as possible under 2p.
If they can hoover up 10% of float even that's a big saving on eventual deal.
Don't think Cambridge University degree will save the Big Dog if he tries to screw us.
The whole team has been bought in 1 by 1 to carry out the 'play'.
AIM works like this. If you have a shyyt company with worthless licenses they'll raise money and pump it every year from munters like us.
If you have valuable licenses then it gets taken private. Away from the corrupt market where private equity can squeeze it for every penny of profit. Grow it and sell it for £500m in 3 years
Treasury officials have invited several major banks to a meeting on Friday
They want to convince them to restart investments in the North Sea
The Government will seek to woo banks and other financial institutions next week to secure support for North Sea oil and gas projects, The Mail on Sunday understands.
Treasury officials have invited several major banks to a meeting on Friday as part of a charm offensive to convince them to restart investments in the region, which has seen its profits hammered by the Government's windfall tax.
Those thought to be invited include Barclays, Lloyds and NatWest as well as investment firms Fidelity and Abrdn. Foreign banks such as America's Wells Fargo, the Netherlands' ING and France's BNP Paribas and Societe Generale have also been approached...
BP boss Bernard Looney has said he plans to invest £18billion in the UK over the course of the decade, while Shell has promised to inject £25billion into the sector.
If UK banks continue to refuse to finance them, the country's energy security and net zero targets will be at risk, condemning customers and businesses to higher costs, higher carbon emissions and less secure imports. This week, the Government must give assurance to the banks that investment in the country's energy market will not be at risk in the same way.'
I'd welcome that. Anything that strengthens the balance sheet is welcome.
For £5.7m worth to get washed through wouldn't take more than a week.
That's if it wasn't locked in for say 12 months.
I'd be happy for them to raise with Directors buying strongly into it
Welcome back Shaml. You took a break but you're back.
Was it all getting a little too much for Bebeto to handle alone?
There are people on your side of the fence who are breaking the law and retail are paying for it.
It won't be allowed to happen, mark my words.
Make the bid, make it soon, make it fair, then you can all feck off with the company and the assets.
Anything else like a debt for equity wipe out and we ensure am investigation is carried out for corporate theft. As high as it needs to go.
We need circa £90m by next September. It's likely if we have £40m or so we can easily refinance the remaining £50m over 5 years through bank or other.
We already have £20m
We have 26 mmscf from H2.
H1 can add 14 mmscf. That's 40.
Elgood can do 25 mmscf. That's 65 per day.
If its run at full speed when prices are 120p plus for 3 months we can bring in circa £42m in just 3 months.
Next month onwards we're likely looking at 100p + for gas until March next year.
The tax losses and assets are worth over £400m
If CalE have half we still have over £200m
There will be a massive investment push in the North Sea to secure the next 10 years of energy for the UK. How much profit can be made it laid out in the recent half yearly report. Over £1 billion pounds
They want the company. Tell them to pay for it.
6p isn't enough if that's where they're at. 8p+ we walk away and let them go
h1 was running fine with some water cut. h2 came online they switched off h1. why?
until h2 came on h1 was still running at 15-20 mmscf day and that was fine. yes little less profitable due to water processing but still plenty of profit with opex around 24p or less.
southwark - i won't say much because this is the sticking point if things go to **** here. will just say look at the tests run, the equipment used, the pressures, etc. £500 an o&g consultant will tell you right away... anyway
elgood production, too much water again is it?
yet bacton had shutdowns early on into production to ensure it was able to handle the larger liquids issues. and production was ramped up. it was working fine.
everything been slowly switched off or.. not switched on at all (southwark)
h2 flowing but tap left half closed. £15m drill by hugely experienced team and they left a valve half closed and left and couldn't come back for 3 weeks? 😂😂
remember the other delay whilst drilling. back pressure. delayed the drill so delayed the revenue coming in... increased the downtime..
hmm 🤔🤔
causing the company to break covenants because not enough cash cover etc
have the interest payment money but don't pay it on time. nor tell us why they haven't. or even confirm later if they had or not, etc. why do we have over £20m in the bank if we don't make payments..
beb says read the rns's. i agree. but we're not looking for the same thing.
there are serious issues here and they're not operational.
unless the company quickly clarify things and ensure shorts aren't ripping the share price to shreds within days there's gonna be some fireworks here.
small group of large holders who will see to it. let's play