Member Info for Denziiil

Given four wells, Echo costs are going to be around $3M. ($4M per well total).
Release of $2M by CGC in restructure.
It looks like no further funding required.
Best possible outcome today from current situation.
Huge loss sustained by myself last year, but this is a grown-up decision by the company.

Well that’s a disaster to read.
30 pages odd of glossy brochure before the detail.
Fiona had a good year despite everyone else having an absolute bath.
Cash at hand enough to cover seismic, but definitely not enough for a drill.
Raise incoming and the only comfort I can take from this royal mess is that JPs warrants will be underwater.

The Group generated revenue of $153 million during 2018 with total sales of 2,332,164 boe.
Daily average 6389 boepd.

Looking forward to seeing the impact of 21-24k boepd.

Well that was strange.

That’s a whopper

75kbopd and brent north of $70. Today’s rise still a joke, but #ENQ need to dust debt whilst oil is high.

Unfortunately SP rises half way through cc, and then tanks.
Every time.

However, at the date of approval of these financial statements there are no legally binding agreements in place relating to future fundraising. There can be no certainty that additional funds will be forthcoming which therefore indicates the existence of a material uncertainty which may cast significant doubt about the Group's ability to continue as a going concern and therefore it may be unable to realise its assets and discharge its liabilities in the normal course of business. The financial statements do not include the adjustments that would result if the Group was unable to continue as a going concern.

So have any of you rainbow snorters actually properly read year end results yet?

However, not Scarface’s general point, yes there was plenty of opportunity on both sides.

Echo has never been near 30p.

Otherwise please take numbers as really, really loose. Too many known unknowns

For the info on the Marathon cash, I think it was the Marathon CEO that announced, and not on RRE rns feed.

Also the 200M towards decoms, looks like the dollar conversion again :)
I’ve shown as Marathon cash below, as my bet it will be used short term for asset purchases, and decoms dealt with later down the road.
Hence the £300M figure below.
Mire than happy for it to be locked away against decoms, but I don’t think that’s the company game plan short term.
Interesting to note that Marathon already had the money sat in a separate account and tried to claim an upfront tax credit, but failed on HMRC challenge.
This is the main reason that I still think it’s accesible.

Hey Rookie,
31/12/18 $121.4M of which 53.3M restricted
So $68.1M unrestricted (£54.1M)

Will get back to you in due course on Marathon decoms.

Expecting cash position to be very high coming out of suspension. Possibly June 30th.
As at end of year announcement production was 11,000 bopd, producing £8.26M/ month Free cash flow.
At 24,000 bopd this climbs to £18.02M.

Cash position at 30th June~
£54.1M unrestricted cash at yr end.
£108.12M FCF from production.
£146M net cash from Marathon post purchase.
Total £308M cash.
Not withstanding 6 months capex, as yet unknown.

LOG continue to hoover up shares and the muppet show here couldn’t be more disinterested in the numbers.
You will continue to lose money it’s that simple.

In a nutshell. Goodbye 20p.

This is the first time the bod have been honest in a very long time. Finances a mess and massive dilution coming.
Unfortunately it doesn’t look like you get a choice between AAs 20p, and FMs 10p.