Member Info for Conger2

RR are not communicating with the shareholders...

I just looked though their website, their last RNS about contacts was in 2015...

17 June 2015 - 09:36 Re Contract

They do not seem to have a investors relations Executive, they are not selling of promoting there shares to investors!

It is overdue tbh...

It is lagging behind other post COVID stocks and in price seems to care more about macro changes in the world economy than the companies actual performance.

@gordon

https://www.youtube.com/watch?v=L0MK7qz13bU

My Average £1.04 feeling some pain with a similar amount of shares. My aimed for out is 3.5 years time looking for £2.50 plus.

No one knows where this will stop or truly why this is so undervalued vs the public information in here.

My issue becoming the disconnect with public news and share price movements, you with they have issued a massive profit warning this is pandemic levels. Make no sense with the public information....

Just could not make this up :P

"Short staffed due to the mandate of the experimental jabs"

You can not run from Darwin idiot...

We have committed to rebuilding our balance sheet in the medium-term. Our liquidity position remains strong
with £7.3bn of liquidity including £2.8bn in cash at the period end. Net debt of £(5.1)bn included £1.9bn leases
and we have no significant debt maturities before 2024.

You can knock out the leases as they just normal operating leases for property/equipment etc. so we are talking £3.2b Net or £6.0b Gross debt excluding operating leases about to be reduced by £1.7b after the ITP business sale proceeds.

Net debt £ 1.5b or gross £4.3b post sale proceeds. This is not unreasonable as they have £2.8b in cash in the bank which means if interest rates were an issue they would pay in down much more.

Net interest received and paid (£114)m 2022 Page 11 H1 2022 results ...

They believe they have done it YAY....

"Testing of the C-77H well immediately after the re-frac operation demonstrated gas production rates up to 0.5 mmscfd from the 2 newly fracced zones. "

"The flowing tubing head (FTHP) pressure varies between c. 880 psi and 350 psi depending on the level of fluid loading in the 4.5" liner with rapid pressure build up after short shut-in periods indicating the efficacy of the re-frac operation."

The rest of the well and 73 is blocked off so all the extra that Gordon was suggesting adding to it was not.

"The previous 4 fracced zones in the lower section of the wellbore are currently isolated with a bridge plug to allow for accurate assessment of the re-frac program.

The C-73 wellbore is being kept offline while production testing of the C-77H continues but will be co-mingled with C-77H in the future. Finally, the 4 fracced zones that were on production prior to being isolated for the re-frac operation, may be co-mingled by milling the isolating bridge plug in the future."

Moving on to farm out.....

"Based on the belief that the Company has established a fraccing methodology suitable for a full-field development, the Company plans to initiate a formal farm out process for up to 50% of the c.1 TCF Cambay gas and condensate field."

Absolutely no reason for this wobble so I just added 10m shares.

RR will only owe 2B in debt very shortly.

Excellent job Gordon thank you. :)

They charged me £40 yesterday for a 5m buy though HL... Just on the phone to them AIM shares have no stamp duty.

If they hit 2mmscfd it will a big payday Gordon and they have said they are 75% sure of success, all the RNSs say the Fracc was a success, it just these pesky flow rates that are worrying us at the moment as we expected higher but are not experts on Fraccing so don't know if 0.5mmscfd is fine at this stage.

Not quite Espen's league but I do now have a six figure investment at 0 .00175, which i think is a good place to be, so fingers crossed for a good result in the next week or so.

A tight coke is used to control the removal propellants initially in fraccking, it protects the fracc but removing the propellent over a controlled period.

Do some googling on Fraccing and cokeing to control the propellent removal. I found it reassuring.

I think the brand is so damaged, it very hard to see this rocketing instantly it needs a few good RNS in the row to build belief.

"Approximately 10% of the frac fluid has been flowed back and we do not anticipate representative gas flow rates until the majority of the frac fluid has been removed."

It also did say this tbh.

"The fraccing of the two new zones in the C-77H well has been executed efficiently and the initial indications are that the fraccing has been effective. The sustainable gas flow rates and long-term decline rates will not be known until the well has been cleaned up and flow rates stabilise. This may take 10-20 days."

I really don't know how to call this anymore, they were disappointing initial flow rates to me at least, do they mean they are going to struggle to get the expected flow rates?

The RNS are automatically picked up by LSE.co.uk using the ticker from AIM, this needed a manual intervention which might need rewriting code, not necessarily as easy as it would first seem they will need a special subroutine for SYN to pick up the Old ONX ticker stuff, then pick up the SYN after a certain date. This site will not need to hold the historic SYN site only AIM.