The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Hi, I'm one of them....!
Nano was tipped to me by a friend a couple of years ago but I'd forgotten all about it, until I saw the sp crash of last Friday. It seemed too good to miss so I am one of the lucky ones who got in at 8p. Having been burnt on a few AIM punts that have peaked and then crashed, I was contemplating heading for the exit - that was until yesterday's Director buys.
Think I'll hang around a while. Hope I haven't just given Nano the kiss of death....!
GLA
Anyone so inclined will probably have order set to receive dividend payment in the form of scrip issue. (I have this as default setting for all my dividend paying shares).
More likely that potential buyers will start to realise that current sp is way too low, given POO.
Listing planned for mid-February.
Maybe sentiment is being moved on the back of VOG's recent announcement - as reported below:
Victoria Oil and Gas shares rise on LSE, on new deal with Eneo
The share of Victoria Oil and Gas (VOG), an independent oil and gas exploration and production company listed on the Alternative Investment Market of the London Stock Exchange (LSE), surged by 52.1%, backed by investors following a new deal with Cameroon’s power utility Eneo.
“We are delighted that Gaz du Cameroun (local branch of VOG) has renewed its contract with Eneo and has quickly resumed gas supply to the Logbaba power station in Douala. Whilst the situation in 2018 has been a challenging one for all involved, the management team remained confident that a resolution would be reached,” VOG said in an official statement.
With gas price ranging from $6.75 to $6.95 per one million British Thermal Units (MMBTU), the company now forecasts a 100% increase in profit for the 2019 financial year.
This share boost, it should be noted, is also beneficial to BGFI Bank Cameroon that has validated a restructuring plan for VOG’s $26-million outstanding debt balance.
Apologies if already covered, however, in my trawl through these pages I have not found anything of substance on the GSA situation. Also Q&As have not yet been posted on Sound's website.
Were we given any specific reasons for the delays with GSA / timelines, or was it more of the '...GSA is imminent'?
Many thanks.
08 Nov 2018 - 2018/19 half year results
21 Nov 2018 - ADRs go ex-dividend for the 2018/19 interim dividend
22 Nov 2018 - Ordinary shares go ex-dividend for the 2018/19 interim dividend
23 Nov 2018 - Record date for 2018/19 interim dividend
29 Nov 2018 - Scrip reference price announced
Hi Chris, yes - good question, well asked. The IM4 information was of interest, especially the possibility of it flowing at 9,000 bbls p.d. But how / when this is to be monetized is for the future, sadly.
Agree that the call is unlikely to do much for the sp in the short-term, at least.
Anyone would think that she has hit the rocks, judging by the sp.
Let's hope that things improve once the AM makes it through into the Med.
Pt II
Investments on this scale take time to progress and, should our exploration in the Greater Warwick Area be successful, first oil is likely to be in 2021. That does not dim our enthusiasm to pursue it, but what is of vital importance to all operators making long-term decisions like these is the knowledge that the predictable and reliable fiscal regime in the UK continues.
A stable tax system means scope for investment by an industry regaining its confidence after the oil price collapse. It means oil and gas fields across the UK North Sea can be transferred into the hands of operators with the innovation and technology to extend their lives. And it means additional tax receipts, helping the country to balance the books and fund vital services across the UK.
The Treasury has supported the industry with initiatives including clearer rules around the transfer of decommissioning tax relief and reductions in supplementary taxation on oil and gasfields. Although they may be seen as “tax breaks” that support has breathed new life into the future of the industry, providing the catalyst for further investment in a sector which could continue to employ tens of thousands of people for a generation. Oil prices may be recovering, but without this predictable fiscal regime the industry’s recovery may falter.
Chris Cox is the chief executive of Spirit Energy
BUSINESS | COMMENT
october 29 2018, 12:01am, the times
A stable tax regime is vital to oil explorers in the West of Shetland
chris cox
We are entering the time of year when the nights draw in, the days get colder and the weather becomes wilder.
This is particularly true in the Atlantic Ocean west of Shetland, but as the temperature drops exploration for potential oil reserves in the region is hotting up.
Operators are eager to tap in to the opportunities hundreds of miles off the Scottish mainland and although weather conditions make winter drilling challenging 2019 could be a critical year for the future of the West of Shetland basin and the UK’s oil and gas industry.
With BP nearing first production from the Clair Ridge development — and a third phase of the project looking likely thanks to further appraisal work — and Siccar Point Energy reporting successful results from its recent Cambo appraisal well and planning exploration drilling at Lyon in the spring, the coming months could prove up hundreds of millions more barrels of oil and decades more production.
Spirit Energy also recognises the opportunity West of Shetland, and as part of our strategy to create a sustainable, European exploration and production business, early next year we will make our first investment in exploration and appraisal in the area by funding three wells, drilling into one of the UK’s last known world-class oil development opportunities.
The size of the prize these wells are targeting in the Greater Warwick Area is potentially huge. Our £139 million campaign will be aiming at 604 million barrels of contingent resources at the Lincoln discovery and 935 million barrels of prospective resources at the Warwick prospect. The work is part of our efforts, alongside Hurricane Energy, to further prove up an area with vast potential. The licences form part of the Rona Ridge, which independent analysis revealed contained 2.6 billion barrels. To put that into perspective it is about a tenth of what experts believe is left in UK waters in total.
Assuming success will then look to invest even further in the fields, linking one of the wells to a floating production vessel on its way to the region to start early production from Hurricane’s nearby Lancaster field. It also opens up the opportunity for a further three wells and ultimately full field development for the Greater Warwick Area, providing a boost to the energy sector with more domestic production at a time of uncertainty globally, as well as maximising economic recovery from the UK continental shelf.
With developments at this scale comes investment running into the billions of pounds, supporting a UK supply chain which has suffered in recent years as the oil price collapsed. It also gives the service industry the opportunity to build expertise in frontier conditions, giving them the platform to export their skills across the world long after the work here is done.
Investments on this scale take time to progress