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This will be completely irrelevant if the well flows even lower than predicted at 250bpd+
Yes and expected to be funded from production post side-read
It is a misconception that has been passed around that a placing is due to a payment that needs paying at the end of the month.
This was accounted for in the recent raise if you read through the itemised accounts in the fundraise rns
*Use of proceeds
The gross proceeds of the Fundraise, combined with the Company's existing unrestricted cash, will be used as follows:
· Drilling and completion of the side track ?2.1m
· Payment of outstanding costs due before end April 2024 related to the SCHB-2(2.) well ?1.1m
· General working capital and to cover the expenses of the Fundraise ?1.0m
I don't think you quite understand what share buyback entitles takeaim
Lets not forget this could he the first of many special dividends as Ed has highlighted.
Of course it will drop at first and then the buying opportunity will commence
Welcome back!
Everything says stick at these prices.. Buyback intensifying /cash in the bank and assets virtually priced at zero!
There's not alot of choice out there these days so a prudent investor should take heed in here
Inherited 🤔These weren't Ed's initial purchases though were they?
You keep it up though sunshine.. 3p is knocking and there's feck all you can do about it 😎
Might be alittle panic buying on Wednesday👀
What utter nonsense you spout.
Playing the good samaritan again are we😂
If people where waying up the risks they would not be investing in aim shares. High risk high reward.. Flip the coin
Trading isn't possible with what little liquidity we have atm
Can't have it any other way unfortunately
You'll know when you can sell as the sp will be rerated
Only £500 allowance on dividends now in a trading account.. Bed that isa before sunak spends it on his cronies
I'm sure Ed hopes so!
Cheap shares for the ever increasing buyback scheme.
We might see double figures at this rate next year!
The sidetrack shouldn't be the issue.. Relatively an easy operation from experienced contractors.
The main objective is obtain a new access point that's relatively free from drilling fluid by bypassing the damaged reservoir.
Free money guys.. What's not to love.
Its sad that many long term investors won't see much gains but great if you have cash easily available.
And no doubt good for liquidity on the buyback front😜
Onwards and upwards 🎷
Illustratively, at flow rates of 150, 300, 600 and 900 bopd, the Company would expect to deliver operating cash flows (after operating costs and G&A) during 2024 of approximately £45,000,£337,500, £900,000 and £1,462,500 per month (assuming $90/bbl Brent) respectively