The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Pboo, was there a nitrogen lorry going to the site yesterday?
https://reneweconomy.com.au/ultra-fast-ev-chargers-eliminate-hydrogen-advantage-17724/
Could explain why very few companies are developing EV hydrogen chargers.
Last time AFC raised equity its was at a 40% discount:
"The Issue Price represents a discount of approximately 40 per cent. to the mid-market closing price of 16.75 pence on 13 February 2017. The Fundraising is not being underwritten and is conditional on, inter alia, on the passing of the Resolutions by Shareholders at the General Meeting of the Company to be held at Chelsea Football Club, Stamford Bridge, London SW6 4HS at 11.00 a.m. on 3 March 2017."
The EU grants are received when AFC have direct expense for the two EU project. The £2.6m cash burn didnt include any such expenses.
-> AFC Energy spent £2.6m in its operating activities in the last reported 6 months period.
-> Cash burn has been £434k per month in average.
-> AFC had £3.99m in cash including restricted cash at 30 Apr 2018.
-> With the same cash burn between May 2018 and Jan 2019, the company would have spent £3.69m (8.5 months*£434k).
-> There have been warrants exercise since the last report providing the company with £12k.
-> Based on the cash burn and warrents exercise the current cash balance should be around: £312k
-> AFC estimated cash balance of £312k, with the current cash burn should only be enough to cover operating expenses for 22 days!!!
Unless AFC Energy has reduced cash burn substantially which there are no signs of, AFC Energy will need to raise cash very soon.
Supporting documents in tweet.
https://twitter.com/EasyBrent/status/1086183432961617920
If Brockham is flowing, as it seem, we should see at least one or two more tanks from the site today.
I was expecting an RNS to confirm that Brockham was producing this morning, a little bit odd that we didnt get one. Maybe the heat coming from the oil heater was due to something else than production.
mick2020, the low net Nov & Dec payment is only a result of the M&P recovery of Wentworth carry, with all details in 15 Nov 2018 RNS. M&P will recover around $1m per month of WEN revenue share until June 2019.
It dosent change the NPV etc. These terms has been there since the 2009 farm-out.
I dont think WEN has been creative in its accounts or misleading, its just the case that very ppl pay attention to all details.
Angus mamangement have said in several interviews that Brockham should be able to beat Horse Hill flow rate due to 4x longer Kimmeridge section. There are inidcations that the well is flowing, so now its time to see if Mr Vonk can deliver +1500bopd?
I guess its not great that their is no RNS from Angus today, with all that nitrogen going into the well end of last week, their should have been instant flow.
No RNS from this morning probably means that the oil in the tanker yesterday was most likely from oil recovered from kill & stimulation fluid recovered since the test begun in December.
This is further supported from that there was no Christmas tree on the well from the picture Weald oilers posted yesterday.
From the picture Weald posted it looks like there is no Christmas tree on the wellhead. So I suppose that the oil in the tanker wasnt produced today, coudl be oil separated from the recovery of fluid since the start of the testing program.
You are buying when closing shorts. Buy a book for basic trading ismailq.
Horse Hill did 1356 bopd from the Kimmeridge in the first flow test and Angus did 1587 bopd from Balcombe.
I think Angus needs to deliver 1500 bopd to move the stock a lot. One tanker so far is only 220 barrels.....
What is the timetable for when they can run the oil tankers?
Horse Hill in 2016 tested 1365 bopd from 168 ft of Kimmeridge, Angus is testing 656 ft of Kimmeridge, if the flow rate would be proportional the potential is big?
Next week will be interesting, Angus management has said several times that the geology in Brockham is as good as Horse Hill, which did +1500 bopd from a vertical well. Balcombe did 1587 bopd. Brockham +1500 bopd?
ANGS mgmt has been saying since Q1 2017 when the Brockham well was drilled that the geology was as good as Horse Hill and that their Kimmeridge section they will flow test is a 3-4 larger than Horse Hill section.
Next week we will see if Angus can deliver.
What flow rate are we looking for from the Brockham flow test?
FRR will be delisted in 22 days, unless they can find a new NOMAD.