Member Info for ConMan94

Increases their position again. Highly possible that the big buy today is theirs also. Maybe another TR1 in next days.

With the 2 recent wells brought online in Phase 2 running c 13BOPD each I now have the company making circa $50k pm in FCF.

Course you'd prefer it, but it's not going to happen so no point in discussing it really.

It does include fouke 1&2 + Phase 1 workovers.

Completion of Phase 2 increased cash flow to $100k pm @$75.

Lmao i told people there'd be a funding for the F3 well it's not hard to work out by just doing simple maths. Like I said, I'm supportive of the funding it's not an attempt to deramp, just educate people.

You heard what you want to hear, classic human behaviour. He said there would be no more discounted raises ≠ no more raises. There will be another raise to fund the fouke 3 well.

The facility is $10m but the amount you can borrow is determined by production/future revenue. They've maxed out their facility right now hence the need to raise. Following the first raise that barely made the company cfp they obviously had to do another raise to complete phase 2. When they complete this phase, they then have options, they don't need to do another raise. I predict another 50% rise here upon completion of phase 2. Following which I reckon they'll do another raise to get the fouke 3 well done. If that's successful they don't need to raise again because they'll be generating £140k per month in fcf @75wti.

If the company starts buybacks then £4 by end of 2026 should be easily doable.

We will see Donkey! Thanks for commenting back in a engaging way instead of biting my head off.

Would be suprised if the company could get more finance at those rates considering they have $4m+ of loans that they aren't even paying off right now. Raise $500k at .55p and if the Fouke well is a success then the MC will HAVE to rerate to c £5m mc minimum which would be .09p with the newly added 750,000,000 shares. If the Fouke well isn't a success they still have $150k + FCF of $80kpm to fast track another well. Its the best move and one that i fully believe will happen and support.

I could see this rising to potentially .06p which would be just shy of £3m MC. At that point imo the company should raise more funds of half a million dollars (at hardly any discount more than 5%). That can fast track the Fouke 3 well and 1/2 infills. Don't sit around waiting to save the money. I know some won't like this idea but imo this is the best approach. Keeps momentum going as well.

On 7 January 2024, the Group completed a US$5.0 million unsecured loan arrangement with Itaú Bank in Brazil. The loan is repayable as a bullet payment on 6 January 2025 and carries an interest coupon of 8.47 per cent.

My advice to people is look at the final results for 2023. Reduced the G&A "substantially" (you choose what that reduction is).

Take a look at what profit you end up with running 120 barrels a day at $75 a barrel. Then do exactly what Welch does and increase the barrels to 170 per day when the final 5 wells come online later in the year and then check what happens to the profit given the production costs hardly change. He explained it, you can see it based on the maths.

It checks out.

Remember the company have already said the throughout put of cashews in Q1 was running at cashflow positive numbers, it's the % of peeled being too low thats making it loss making. Get the machine, install it and it should be instantly cashflow positive. As mentioned by FK1 though, we're unable to fully believe this will fix everything due to a number of errors. If it does work (it BETTER work!) then Q4 Q1 sp should start to move.

There will be very little on cashews. The machine isn't here until next month. Another month of doing the PO maths and wait.

I'm in mate picked up a nice slab at 18.5p. Share your sentiment.

I like that we finally have date for the machines to arrive. From there there are no excuses, company must deliver. As for now, things seem to be ticking along. People have waited a while for these cashews, surely they can wait 2 more months. Director buys should add confidence. Let's see what the remainder of this year holds.

Chris you should know by now that unless results are released on 10th each month, some people on here immediately feel that the company is going bust.

Indeed Chris. Further confidence on the cash position - Company is sat on circa 1,700 tonnes of Palm oil, price is increasing, good decision to hold this back. Could be worth around £1.3m in revenue. It's actually a real shame the cashews are lagging, not just because of the obvious SP impacts, but the Palm oil business is flying right now if you look at the data. Company should be booming, but this is holding us back.

Yes I've noticed this trend Chris. CPO keeping the company moving forward while the cashew business lags.