Member Info for Conger2

Net financial assets and liabilities: £(969)m movement was primarily driven by the change in the fair value of
foreign exchange contracts due to the impact of the movement in £:US$ exchange rates from £:$1.35 at
31 December 2021 to £:$1.21 at 30 June 2022.

Big hit here... ouch ...

Contract assets and liabilities now (9,646) ---- 31st Dec (8,836)

This is forward billing, it invoicing of LTF contracts that are due to be paid, but they can not recognise as revenue yet as they have not delivered them.

Pretty massive figure invoiced but not recognised Revenue. 9.6b .. very conservative accounting, although shown as a liability it is in fact an asset, but has to be delivered and costs to be put against it yet, hence you provide for the whole invoice.

Large engine LTSA flying hours were 4.5m, up 43% year on year. ... Yet Rev only increased 8% ....

I smell a rat , clearly revenue LTC /WIP manipulation in H1 2021, which they are paying for in H1 2022.

Fuming, when will auditors actually challenge and do their job, the losses should have been much higher in 2021. How much more of the 2021 losses are buried here?

They need some mainstream marketing/PR going telling the world what they are doing...

The share price is stubborn ....

The market seems disappointed/uninterested with the initial 0.5 MMSCDF while they clear the fraccing propellent.

What I think we need that 2 + MMSCFD rate confirmed in the next few weeks ideally.

Synergia Energy works

i was in wales lol

https://www.synergiaenergy.com/sites/synergia-energy-ltd/files/documents/documents-downloads/20220729%20Cambay%20C-77H%20Re-frac%20Operations%20Update%20No6%20FINAL.pdf

RSN from ASX below

This converts to about $3500 USD per day.

0.5 MMSCFD flow rate --- "Initial indications are that the fraccing has been effective. " Ron Wessel

Not only the initial flow rates, but it is the maintainable flows rates that are key, hence the use of new propellants.

The issue before was the fracks collapsing too fast.

https://ukdefencejournal.org.uk/rolls-royce-joins-british-french-missile-project/?fbclid=IwAR3bvsX7Rhz7eYXUukP1j949KPF0n8vuviCKUL-SMB___boMA_oCk0ds8WA

Can you imagine a 100m UKP share cap by the end of August would be epic tbh... : )

So what share cap AKA share price AKA valuation of Cambay would you hope for on a clearly successful frack.

range is fine...

Personally i see no reason for a 80m-100m UK valuation for Cambay, it has been valued considerably more by third parties in the past before being proved. Since then GAS and Condensate prices have at least doubled.

If the share cap/price and new buy in JV partner can reflect that i think that is a great job done for me.

why would they bother changing the name with the costs and disruption i causes unless they were confident of a successful future to reap the benefits of the new name and marketing.

It will be the tree shake with the MM trying to build up a store of shares for the news in August....

I could not resist. :P

The chart today reminds of a dolphins tail, that has nibbled on by a tiger shark, which of course means i have bugger all idea what the hell i am talking about tbh.

Buy when you just know the global headwind for a company has only one way to go inevitably. RR is one of those companies, less than a third of it s value pre the pandemic for no good reason anymore. It's engines are flying more everyday, the headwind is good for its military division and SMR are being talked about more and more as a solution for climate change. We don't know exactly when or how quickly but we do know RR share price is going recovery considerably from here.

no, it is just people still buying over 16 i reckon.

1. Market cap £13m with 100% of Cambay
2. Cambay was valued at many many times that in the past (over 100m i believe) so with the massive increase in GAS and Oil prices at the well head Cambay must be worth at least £75m with a successful frak.
3. Frak happening with an expected 75% success chance with results in the next 6 weeks.

Therefore there is a 3 out of 4 chance of a 6 times valuation of Oilex main asset, is really is not unreasonable ......

to add further weight to this some years ago in one of my conversations with am Oilex SM, 100% of Cambay was valued by the SMT at $60M USD this is before a successful Refak.