The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Scot is close to the company. Has known them for a very long time so his posts should be re as with that in mind.
He has the advantage of access but will also have bias to some degree.
He is also often aggressive ‘online’ which is unhelpful IMO but he is always factual.
IKBR are upping their margin requirements on PANR over the next week to 100% so we may see some selling pressure for those US margin holders not wiped out last week. Short margin has also increased to 500% so if we can maintain some gains the shorts will feel pressure on their accounts as well.
Yes. They can and they will.
Informal talks will be ongoing with the previous party, as long as they are still interested, and I suspect that if a suitable agreement can be made with them that would be the preferred option given that opening up the data room to new parties will take time and winter is fast approaching.
I understand getting nervousness if we were overdue news but the RNS on 10 Nov indicated that they were just a few days into the cleanup.
MD stated that the cleanup will take 2-3 weeks and then they need to recover another 30% of the frac fluid.
I think that we have a while before we need to worry.
We might be behind schedule, but patience is key here IMO.
The previous RNS, that stated the need for the coiled tubing unit was 7am 25 Oct.
The CTU would have already been requested and we know there was a 10 day delay in getting it onsite.
If all of that is accurate the date onsite would be 3 Nov at latest, so 3 weeks onsite tomorrow.
Monday 5 Dec is looking good for an RNS to me.
They set a production packer duration the completion. I am not an expert but I believe that this would mean that they will have drilled out the plugs inserted during the fracking phase and therefore will test the entire 5300ft together.
I guess the question is , how much can be inferred from success at Alkaid with regards to the formations at SMD, SFS and LBFF?
I suspect that it would significantly reduce the risk discount, but not remove it completely.
Peakybrum.
“An initial flow test over 24 hours needed
Then onto a 3 -6 month consistent test without loss of flow rate”
Whilst the IP24 will be important the IP30 (30 day) will be more important.
There will be loss of flow at 90 and 180 days. The important thing is that the decline is as expected and therefore commercial.
I have not used a T20 for years. For 3 reasons:
1. They are time limited as has already been said.
2. They are still taxable whereas spread betting is not.
3. Spreadbet providers now have to protect you from losing more than you have deposited, as lol my as you do not sign on as a professional.
I would not ‘recommend’ anyone to trade with margin, but if you know what you are doing and can maintain margin, profit is tax free and your trades are not time limited.
adrianz , at any particular date a prepayment is an asset on the balance sheet. The debits of $7.2m being capitalised "drilling and workover services" do seem excessive as you say with $3m of costs for 2019 and little activity especially considering we bought drills etc during the year. Also raises the question as to what the $500k prepaid at year end is for? Consultancy fees?
Are we contracting the crews via KSEK?
Clive Carver Nov 2017 shareholder meeting, "It gives us the opportunity to correct any misunderstandings they may have got from poorly drafted announcements *smirk* "
He is well aware of the poor information that he supplies, he just doesn't really care. Reminds me of Chips Keswick at the Arsenal shareholders and supporters meeting "Thankyou for your interest in OUR affairs"
Where has this $3.4 mil gone ??? - If you are talking about the $0.5m and the 2018 balance of $2.9m, these were prepayments at the date of reporting. ie, we had paid in advance for drilling services. They are not cumulative, but part of the following periods costs. So, assuming no prepayment in 2017 we paid KSEK $7.1m in 2018 (4.2+2.9) and we paid $0.6m in 2018 . Presumably we had at least $0.5m of services following this time or were repaid.
Do we still owe the remaining balance of $3.8mil. - Where does that come from? At the date of that statement KSEK owed CASP $0.5m
Cant argue that the deeps have not cost holders and that MJF should be significantly further on by now, enough to pay the tax at least!