Member Info for Denziiil

Agreed on the decom expenses. Can kicked firmly down the road. I think £80M was pencilled for end 2021 previously.
Decom costs looking closer to 15% of net cash as opposed to 25%.
Great news.

You wont see that Divi this year.

Wow was the sp only 90p?
I hadn’t been able to qualify previously, had assumed sp was around £1.50

At current sp, we're going to have more free cash in the bank compared to Mcap by end March.
Should tie-in nicely with an April update.

100% agree will definitely be looking to buy an asset

Can’t see any big lumps suggesting that’s the case Cookie, and with AA’s holding, he’s the only one capable.
Bid from the blue possible.
Bid from AA more likely, but not probable.
New Asset incoming more likely.
IOG maybe.

MCAP £63.75M after today’s jump.
unrestricted cash £53.79M in bank and growing cash position of £8.16M/month.

Mid feb for unrestricted cash to surpass MCAP laying aside for decoms.

$33M cash build in 3 months is bloody impressive. Just shows importance of gas production in current oil climate.
$99M cash build p/a equivalent to £78M p/a.

Co bought back 20% of shares in issue at £5.60. Today's fall back to £5.60 makes the stock 20% cheaper than point of buyback.

Oil not hedged. Although the proportion of gas production could be seen that way.

The fact that she’s staying on as a non exec, tells me it’s not a political fall out, and they value her decision making, looking more likely it’s genuinely personal reasons.
I think the reason her options have been clawed back were that they were contractually position bound.
I’m not going to speculate further as Fiona will be answering questions at q&a.

Slightly over 350 boepd.
That’s very nice.

More likely to go private than a bid from an outsider.

Current mcap £105m so take out 20% for shares withdrawn. Takes mcap to £84M

Your'e not missing anything other than like a lot of small o&g producers, they're a bloody steal right now. Hence the reason for the company buyback and elimination of 20% of shares last week.
Cash earning for the next 12 months are near enough parity with mcap.
RRE will either continue to buyback shares, buy further assets, or possibly look to take the company private.
No debt here whatsoever. Should be and will continue to go way North.

You’re looking at the American gas price folks🙈

Chris Oil will dump whilst you buy. Ultimate pump tool. Unfortunately I would flag as a major avoid anything that snake is talking up.

I think you guys are pinning the donkey on the tail.
The market cap of the company shouldn’t move in an ideal world and the sp will move to reflect the value.
Why on earth would the company spend money to destroy value in the company.
If the offer is taken up your shares will be worth more.

I get the feeling we’re all speaking about different sides of the same coin mike. But yes if the shares are cancelled (as opposed to being transferred to the company) Then you can only be left with the remaining shares being (in theory) worth more. Market won’t react until rns released stating consolidated shares in circulation.
SP will catch up at some point.
Aside from this i’m not sure anyone is actually going to part with any!

Other way round Mike.
Mcap stays the same, but the share price rises to accommodate the reduction in shares.