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What flow rate are we expecting from Balcombe?

It must be their accounts doing the dealing with Eneo - so we might have to wait for the interim until 2021!

No results out today so it looks like it will be released after 3 months of the end of the period, breaking the listing rules. Very nice to put the company in that sort of group of companies.

Timster, Sound worked out well right LOL

The situation for FRR looks beyond difficult.

https://twitter.com/EasyBrent/status/1045232312391282688?s=19

It seem like there have been some gun fire at the Sawa Hotel in Douala. I guess people are affraid that the unrest issues in the English speaking parts of Cameroon is spreading to the cities.

Or someone thinks that the H1 result will be rubbish or even worse that Eneo deal is dead. Anyones guess but we will soon see.

It dosent mean much, its on the WH market maker who is slightly less short. Its only a MM position and its tiny, dosent really mean anything.

Does anyone have Colin H. email?

mick,

I wouldnt include the trade payables in the debt figure. For what its worth Eskil said that they he expect that the TPDC receivables of $8.7m to be repaid by end of 2018. I have also talked to Maurel et Prom and they are on the same view regarding those receivables.

Are we expecting that VOG has solved the Eneo contract in the coming days when they will report the H1 results?

mick,

I dont think the company is cash constrained anymore (if the payments keeps coming in).
The net debt has been reduced to $11m and will come quickly down to zero with the current production and payments.

What I fear is that Eskil worked as Sterling CEO for a while with the aim to acquire new E&P assets, which never materialized (probably because of the ownership situation of Sterling). So I think its fair to assume that he has a short list of assets in Africa which he is interested in. I dont think its always wrong to buy assets, but the last acquisition of E&P asset I have seen on AIM has been at NPV-10 valuation of 2P reserves / resources, and these transactions would be dilute for WRL shareholders.

I agree with you that Tembo dosent look to good. Complex geology and with plenty of issue in the local area. I have asked Eskil and Katherine and they have said that they will only move forward with that asset if they get farm-in, I hope they keep that promise.

In any case the share wont turn until after Oslo delisting as their is a steady sale flow on the Oslo line everyday.

mick2020,

The minority shareholder are better protected in Oslo listed companies compared to UK listed companies. Its easier for a UK listed company to delist and to sq. out minorities in a take-over situation. When you compare the securities laws in the two countries they are pretty different.

It has crossed my mind a few times that doing the Oslo delisting will depress the share price and the larger holders gets "easier" laws to deal with, if they wanted to take the company private now when things are moving in the right direction.

The Oslo line has been considerbly more liquid compared to the UK one, which makes the Oslo delisting a little bit odd, but at the same time only 15% is held in Norway.

In any case it feels like the BOD dosent tell the whole story behind the Oslo delisting.

In my view, its questionable if Wentworth should remain in its current form. As:
1. The company is valued to 40% of NAV while they are currently realizing the NAV with signficant production and cash generation.
2. WRL isnt operating Manzi Bay, so why do there need to be WRL HQ / Corp costing the shareholder $4-5m per year?
3. Any acquisition for cash or shares would be value destruction compared to buying back the own stock.

I am new to the stock what is the next pieces of newsflow we are waiting for?

I am new to the stock what is the next pieces of newsflow we are waiting for?

I am new to the stock what is the next pieces of newsflow we are waiting for?

I am new to the stock what is the next pieces of newsflow we are waiting for?

I am new to the stock what is the next pieces of newsflow we are waiting for?

I am new to the stock what is the next pieces of newsflow we are waiting for?

I am new to the stock what is the next pieces of newsflow we are waiting for?