The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Nearly $1 million in cash plus we generated about $400k in the qtr based on net and avg prices achieved.. Jan alone 165 boepd net to Mosman key here is more oil at Cinnibar and oil prices are still around $80.. Report is still on time he mentioned as it was RNSd as 30 days in the proactive interview he said it could be 2 weeks.. Contingency of being ill being used up still on track.. Wonder what it will be going up by and of course news on g1 workover using gas is certainly next would be intrigued to see if that surprises us.
Using gas like Stanley they could lift the oil pressure up..
Monecor et al who did the last placing at 0.07 they only want 5-10% return they will most at above 0.07 and will sell some below the price over all they still make money.. Once there out our sp can breath upwards. The chartist are saying 0.29..share price angel had 0.48 in 2021 after 2 placing even at 0.3 i would be happy with.. I want investors to support mosman.. We will need a cash raise in the future no doubt but the higher the sp the less the shares we issue..reserve report should support the rise as well and g1 with gas injection looking forward to that. Last qtr update soon all supporting the sp.
Key here is they discovered gold it's there not the right qty but it's there.. We only done 6000k of holes out of 30,000.. Yes we are in the hot-spot.. North Sea oil was not discovered on the first oil.. Same principle here.. There doing the airborne survey do a remodel of the map with updated drill holes... Once established start to drill at optimum locations again.. Why would you poke more holes in the dark. Hopefully results early Feb. Last placing at 10p DL has shares at 14p warrants at 20p. Go to back the share you're in else too many traders who want it even more cheaper... You sell they will happily buy cheaper and get out for there 10-20% that's all they care about.
Well manyCompanies have poor comes on Aim and other ceos.. Presentation skills are very poor.
6000 meters is all ww have done.. They are updating the model.. airborne survey once complete will give us a better chance of where to drill next got odd 24k meters of drilling to do.. Too many on here scaremongering it's already cheap at this price... Wait for news and not what people say on here.
anything they say in Public needs to be RNSd first. RP needs to send an update to the market.
Last RNS 22nd December 6 weeks for Magnetic Telkurics Survey that take us 2nd Feb next so results possible on the wc 6th Feb.
“MT technology is an important next step in exploration at Red Setter to define more accurately the location of increased sulphide mineralisation. By using this technology the aim is to define the main trend and centre of the mineralisation system”. Forget what people say on here or the scare mongers.. Everyone is for themselves here no one's knows the positions of the ramper or the deramper
All the deramps are here on full swing.. Everyone knew RP comms are poor... We have currently done only 6000 meters of drilling out of 30,000 meters.. Currently paused to review and reflect and remap.. Gold is there it's proven as well. Just the quantity...Once survey done, remap data base on existing results drilling will start again.. Who would Continue drilling further knowing well that you're flying blind... So take a step back and aso yourself why you invested in a high risk high reward play.. Wsbn still a tiny company with barely 200 million shares compared to ggp with over 5 billion.. Any whiff of solid gold and depth this will no doubt fly.. Patience is key.. This is when money is transferred from PI to II.. They know gold is there someone buying 100k worth at this price.. Nervous investors.. Just close your trading acount laptop pc or whatever you use and come in a couple of weeks time
They are old wells that came part of the Cinnabar release.. So if we hit oil on the workovers then how i see it we saved $2 million or $1. 5 million of our 75% share..
Ff $1.5 million is our share of the cost.. We raise at 0.14 or higher we give away less share and by that time if g1 and g2 come on board we could fund c4..
Key is investors supporting the company.. If we do the workovers for g1 and use gas from c1 and get oil the sp should be above 0.1 if they have success at g2 then sp should be around 0.15-0.18.. What this means is for c4 new drill we could get £800k at just say 0.14 and only issue 550 million shares..or if higher then less shares less dilution.. More bopd.. Key is supporting the company.. Ive told jb the Same Monecor et al are ruthless they make 5-10% only.. Bit surprised we have not seen another tr1 for reduced holding.
I guess luck has not been on our side.. When we had Welch we had projections.. As to why we did not do side track drill for $2 million back then as they were expecting 600 bopd from it.. We sold it off and someone saw the opportunity. Then Falcon came next big thing but produced gas and was the best producer and then suddenly went bust. Stanley, greater stanley and Winters are all siblings they produce to operate only no profit we own 35-40% only. Profitability was in the teens but you have to keep on doing workovers.. I would sell Stanleys stake and put the money into cinnibar. Or ger Arkoma sale going push the operator to do something about it. We paid over a 1 million for our stake and all due diligence plus bought ESPs and got no return. I believe JB can workover g1 with existing cash and possibly look into the issues at g2.. Did anyone here the figure on the existing reserve from the proactive video last night? How much is down there currently??
$2 million is total. Mosman need to cover 75% if the cost for there shares. $1.5 million is required. From £800k raised was about $982k in plus existing cash. They have ARKOMA UP for sale for a while now with high oil prices we have not got rid of it i would selk the infrastructure i remember those ESPs at the time cost odd $450k each.. They should really market that and recoup money from it to cover the c4 well plus use money raised.. G1 looks good hopefully after 10 years it has been refilled again as it is a large field of 350 acres.. G2 he mentions could be mechanical issue etc investors need to supprt mosman including Monecor et al to allow the sp to breath and break some barriers.. They are only doing harm to themselves
https://www.proactiveinvestors.co.uk/companies/news/1003457/mosman-oil-and-gas-connects-cinnabar-1-to-production-facility-1003457.html?viewSource=TwitterUK
What did JB say around the 5 min mark.. We should get a reserve report soon but how much was the existing figure? Did he say 7 Million and by adding this well data it will only increase. My hearing is bad but if i heard that correctly then that will certainly be a step change for Mosman and make our mcap look silly. Watch it someone and let me know.
Bit surprised we have not turned blue today.. Oil pipeline connected, continuous 128 bopd plus 30 boepd of gas flowing.. Money coming in.. They seem to be eyeing g1 for workover as well. If that comes in that will be a big bonus without drilling another 2 million drill. Hope we can make great use of gas.
https://youtu.be/Frx3q_Epp7k stil going strong since the proactive video yesterday.. Pipeline to production facilities in progress..
Ford i can post opinions on here and guesses..Market needs to know what is coming as well.. Else they will be out.. And regarding Monecor they are the only ones that are screwing us up here.and the sp is telling the story here.. We should be above 0.1 today..
It's Monecor et all off loading they still have over 3% plus CFDs go through yet.. Sooner they come out the better... Next news could be last qtr updates, Aus news on Central land approval for seismics. Plus further stabilised rates at Cinnibar..
And GE IPO possibly by the end of the month.